Q61 If a firm's total fixed costs are $100 and average variable costs are constant regardless of output, then... a. Average total cost will decrease when output is increased. b. Marginal cost will be less than average variable cost. c. Marginal cost will equal average total cost. d. Average total costs will be constant. e. Marginal cost will be rising as output rises.

Q: Question 22.22.   The following cost data are for a firm in the short run:  Output  Total Cost 0…

A: The average variable cost (AVC) is the total variable costs per unit of output. Thus, AVC=TVCQ Where…

Q: 1. Based on the above table, does the firm operate in short run or long run?WHY? 2. Based on the…

A: The missing entries in the cost table of the firm have been computed as follows:  Quantity Fixed…

Q: Assume that in the short run a firm is producing 100 units of output, has average total costs of…

A: Total cost = total fixed cost + total variable cost Now  ATC = $200, output = 100 ATC = TC /output…

Q: What are the kinds of cost which firm face in short run. Explain theoretically and graphically the…

A: Short run refers to the time period where some of the factors of production remain same throughout…

Q: firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is…

A: Marginal Cost (MC): - it is the additional cost incurred due to the production of an additional…

Q: If you have the following Marginal cost (MC) Variable costs (VC) Total cost (TC) Fixed cost Quantity…

A: Since you have posted multi subparts question, as per guideline we will solve first 3 subpart only.…

Q: In the short run, a firm's output level is 10 units. Its total cost is $4000 and its average fixed…

A: Cost of production refers to the amount of money involved in the production of goods and services,…

Q: QUESTION 17 Farley Farm, a dairy company, has total costs of $15,000 and total variable costs of…

A: Total Cost = Total Fixed Cost + Total Variable Cost Fixed Cost will be same for all the units of…

Q: The table below presents production data for a particular firm. 1) Use formulas/calculation in excel…

A: Total Fixed Cost = Total Cost - Total Varible Cost Total Fixed Cost = Total Cost - Total Varible…

Q: 3. As marginal cost rises, average variable cost necessarily rises. True False

A: Marginal cost (MC) curve is the incremental cost of production, i.e. the cost incurred when one more…

Q: Quantity Total cost (in Taka) Average total cost Variable cost Average variable cost Marginal cost…

A: Quantity Total Cost Average Total Cost Variable Cost Average Variable Cost Marginal Cost 0 4.0 0 0…

Q: Table 13-17 Consider the following table of long-run total cost for four different firms: Quantity…

A: Constant returns to scale refers to situation when output increases in the same amount as the cost…

Q: 6. If the Marginal Cost for a product is found to be MC = 8x + 60, and the Marginal Revenue is given…

A: We are going to use Profit maximization method to answer this question. Use differentiation and…

Q: 1. The firm's fixed costs are $2,000, and the firm's total costs of producing 100 units is $4,000.…

A: Total cost is the sum total of fixed cost and variable cost.

Q: In the short run, when a firm produces 60 units of output, its total fixed cost is $120. Then the…

A: Total Cost is the sum total of fixed cost and variable cost incurred in the production of all the…

Q: C. The following table shows the short-run average total costs for five successively larger plant…

A: Economies of scale and diseconomies of scale are important concepts in economics. Economies of scale…

Q: Which of the following is correct with respect to economic profit? PLEASE EXPLAIN THANKS!   A.…

A: The main objective of any firm is profit maximization and a firm maximizes its profit by producing…

Q: Answer the question of the production cost as follows: 1.1  Based on Table below, calculate average…

A: You have posted multiple question, as per guidelines we will solve one question at a time.  Given…

Q: With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50.…

A: Given:  Total Fixed Cost = 400. Average Total Cost = $3 Average Variable Cost = $2.50

Q: 4. Problems and Applications Q4 Ball Bearings, Inc., faces costs of production as follows:…

A: The following table can be completed and written as follows by using the following formulas:TC = TFC…

Q: 3. As marginal cost rises, average variable cost necessarily rises. * True False

A: Marginal cost (MC) curve is the incremental cost of production, i.e. the cost incurred when one more…

Q: Assume that in the short run a firm is producing 1,000 units of output, has average total costs of…

A: Here given that, Short run a firm is producing 1000 units of output , Q = 1000 units  Average total…

Q: In the short run, if average variable costs equal $60, average total costs equal $70, and output…

A: Total Cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: 2.1 For each of the following, decide whether you agree or dis- agree and explain your answer: a.…

A: There are decreasing, increasing and constant returns to scale.

Q: 5. Problems and Applications Q10 Consider the following table of long-run total costs for three…

A: Economies of scale are a term that describes when the cost per unit drops as production volume…

Q: Q. No .4. Consider the following cost information for Yasir’s tea stall.       (Cups of tea per…

A: Fixed cost=30 variable cost (VC)= total cost-fixed cost average fixed cost (AFC) = total fixed…

Q: 4. COST RELATIONSHIPS. A firm's total costs can be broken down into fixed costs (e.g., rent) and…

A: We use the following formulas to be able to answer the question, Total costs = Total fixed costs +…

Q: From the table below:​ -Calculate (1) total cost, ​ - Draw total cost curv   Total Cost​ Total…

A:

Q: 7) What is the relationship between AFC, AVC & ATC? How are these calculated? 8) A firms produces an…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The

A: This table shows three short - run cost schedules for three plants of different sizes and find long…

Q: Q.2      Based on your knowledge of the definition of the various measures of short-run cost,…

A: In short run, a firm incurs two main types of costs fixed costs and variable costs. Fixed cost is…

Q: 5. A firm's short-run cost curve is C(Q) : of b are cost, average cost and average variable cost…

A:

Q: In U-Shaped Average Total Cost Curve above Section 11.4 exhibit 2, why does AFC continue to fall…

A: Average fixed cost (AFC) refers to the total fixed cost (TFC) per unit of output AFC = TFC/Q Where Q…

Q: 1. Evaluate the view that the main goal of firms will always be cost minimization.

A: Note: Only first question is answered since the exact one wasn’t specified, if you want answers for…

Q: Total Cost Function is TC(q)=2q 2 + 20q +50   I. Show that MC is less than AC, where AC is falling.…

A: AC=TCq=2q2+20q+50q=2q+20+50qMC=dTCdq=4q+20 AC is the per unit cost and found by taking the ratio of…

Q: Total Total Average Average Average Output (Q) Fixed Variable Total Marginal Variable Fixed Total…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: The unlabeled red curves in this figure derive their shapes from:   a. decreasing, then increasing,…

A: The long run average cost is an envelope around all the short run average cost curves. So, the long…

Q: uestion 9 of 20 Total Total Average Average Average Variable Total Marginal Variable Output (Q)…

A:

Q: Tex has a small plant that produces storm windows. Its total revenue function is ?? = 5.4?, and the…

A: As we answer only 3 subparts and the question has more than 3 subparts, so we would be answering the…

Q: A firm’s fixed costs for 0 units of output and its average total cost of producing different output…

A: All the table values can be calculated with the following formulae.

Q: Question 22.22  The following cost data are for a firm in the short run:  Output  Total Cost 0 $400…

A: Average variable cost is the total variable cost per unit of output produce by a producer or firm.…