Question 4.4.   Which expression is another way of saying "marginal cost"?        Scarce resources        Additional cost        Opportunity cost        Unrecognized cost

Q: Table showing Total Cost and Quantity of Output Quantity of Total Average Total Marginal Cost Output…

A: Average total cost of the total cost per unit of output. Marginal cost is the change in total cost…

Q: The next 3 questions deal with the following situation. Jennifer has a home business selling women's…

A: Accounting profits take into account only the explicit cost into consideration and not the…

Q: What are the average total cost, average variable cost, average fixed cost, and marginal cost of…

A: Q=4 TC=140 TFC=50 ∆TC=140-110         =30 ∆Q =4-3       =1

Q: You are planning to start a business. When calculating the costs. You have considered the costs of…

A: Opportunity cost refers to the best alternative foregone when choosing the other alternative.

Q: his refers to the ratio of a small increment of cost and a small increment of output. a. Increment…

A: Below is the formula for marginal cost:

Q: Refer to the accompanying table below. The marginal cost of the 3'd unit of this activity is: Units…

A: Marginal cost refers to an increase in total cost because of one more unit of output.

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A:

Q: Can you differentiate which is the best and which is the worst between Constant Cost Condition,…

A: In a perfectly competitive market, the long-run industry supply curve explains the relationship…

Q: Total fixed costs (dollars) Total variable cost (dollars) Total cost (dollars) 0 0 200 ​ ​ 1 20 ​…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost does not depend on output. It…

Q: Tom leases a farmer's field for $100 a day and grows pineapples. He pays students $70 a day to pick…

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

Q: At Dana's dairy farm, the average total cost of producing 19 liters of milk is $10, while the…

A:

Q: 1. Answer the question on the basis of the following cost data. Outpu Average Fixed Average Variable…

A: The firms operating in a market incur two types of costs, fixed costs, and variables costs. Fixed…

Q: suppose Jack produces chocolate with two inputs : factory and labor.  If the workers become more…

A: Labor productivity has increased. Labor productivity and cost of production (except fixed cost) are…

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A:

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A: Marginal cost is the cost which occurs due to the production of one more unit of output is called…

Q: Which expression is another way of saying "marginal cost"?                Scarce resources…

A: Marginal cost is the increment in total cost for producing additional units of a commodity. It is…

Q: Three college students are considering operating a tutoring business in economics. This business…

A: Fixed costs are the costs paid for resources whose quantities cannot be changed in a fixed period.…

Q: Average Variable Marginal Average Variable Average Total Fixed Quantity Total Cost Fixed Cost Cost…

A: here we calculate the total cost of producing of 2 units of output as follow

Q: Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and…

A: Implicit Cost: Implicit cost is due to the factors which are entrepreneur himself owns and employs…

Q: Microeconomics divides costs in to “short-run costs” and “long-run costs”. Can “long-run” differ…

A: The short run is defined as the time frame during which wages and prices of other production inputs…

Q: Refer to the accompanying table below. The marginal cost of the 4th unit of activity is: Units of…

A: The marginal cost (MC) is the cost incurred when one extra factor is employed in the production. IN…

Q: Question 4 Copy the table below into your answer booklet and fill in the missing figures: Output…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: find 5 problems related to variable cost, total cost, and marginal cost  and Solve problems.

A: Answer: Introductions: Variable cost: Variable cost refers to the cost of the inputs that vary with…

Q: example a(n): A. sunk cost B. out-of-pocket cost C. opportunity cost D. incremental cost

A: Marginal cost is the cost that the manufacturer spends to manufacture one more unit of the good. The…

Q: Explain why Decreasing cost condition is the best while Increasing Cost Condition is not good

A: Answer to the question is as follows :

Q: Opportunity cost refers to A) explicit costs+ implicit costs B) Time costs C) Money costs D) None of…

A: The total amount of money used in producing goods & services and including labor, time and…

Q: Which of the following statements regarding marginal analysis is​ true?     A. If total cost…

A: To sum up, marginal analysis is described as the cost of identifying the level of output at an…

Q: The cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000…

A: It is given that -  C(q) = 0.005q2 + 2q + 1000 and it is given that q = 2000 units.

Q: True or false. In general, production can display diminishing returns in all variables but still…

A: Diminishing returns are defined as a decrease in output due to an increase in the input after an…

Q: From the information given in the table, calculate the marginal cost of the 3rd unit of output.…

A: Marginal cost measures the change in total cost due to change in output produced.  Marginal cost =…

Q: Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost…

A: Marginal cost = (change in total cost / change in quantity) Fixed cost is equal to the total cost at…

Q: Question 33 Which of the following cost curves does not have a shape that is explained by the law of…

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

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A: Ans.  Quantity (number of units) Fixed costs       ($) Variable Costs           ($) Total…

Q: Suppose Marcus produces chocolate with two inputs: factory and labor. If the workers become more…

A: If the workers become more productive due to the training provided to them, the output would also…

Q: For Bottlers Limited, the total cost of producing 4 water bottles is $200 and it increases to $210…

A: Given: Total cost of producing 4 water bottles = $200 Total cost of producing 5 water bottles = $210…

Q: Complete the following table: Marginal Output Average Cost Cost

A: There are two type of cost in production 1) Fixed cost - fix in nature…

Q: What is theoretical relationship between Marginal Cost and Average cost

A: Costs refer to the amount of money that the firms need to give up in order to perform certain…

Q: This chapter discusses many types of costs:opportunity cost, total cost, fixed cost, variable…

A: Cost is the expense incurred when a good or service is produced.

Q: Opportunity cost refers to  A) explicit costs+ implicit costs

A: The total amount of money used in producing goods & services and including labor, time and…

Q: If the marginal cost is increasing, do you know whether average variable cost is increasing or…

A: Marginal cost is U shaped and average variable cost is also U shaped.

Q: Fill in the blanks in the following table: Total cost Total fixed cost Total varjable cost Average…

A: Cost: The term cost refers to the situation under which a firm occurs various expenses during the…

Q: Q.4 Marginal Cost is closely relate (a) Total variable cost (b) Total cost (c) Total fixed cost (d)…

A: # marginal cost measures the change taking place in the value of total cost when the quantity…