Table 1: New Generation Company Quantity of commodity A per day Total Variable costs in OMR 60.000 700 200 5234 201 61.000 202 62.500 203 64.000 204 66.000 205 68.500 206 72.000 Use Table 1 above to answer question number 25 below
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- Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?1. Minimize short (K fixed atK ) and long run cost of the following production technologies: a. q = 6K1/4L1/3 b. q = 20K1/2L1/2 c. q = K2L3 2. Derive the Short Run and Long Run Marginal Cost functions and determine whether Marginal Cost is increasing or decreasing with output. Explain why. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.26) Which of the following is a fixed cost for a chocolate factory over the course of a month? A) Depreciation of machines due simply to their age B) Overtime pay C) The cost of cocoa D) The cost of electricity (paid quarterly) for running the mixing machines
- (Figure: Costs of Oil Production) Refer to the figure. Assuming that price equals marginal cost, the total cost of producing eight barrels of oil is: It cannot be determined from the information given. $400. $240. $60.Three production processes - A, B, and C - have the following cost structure: the selling price is 5.26 per unit Process Fixed Cost per Year Variable Cost per Unit A 119164 2.54 B 80631 4.52 C 70617 5.27 1. What is the cost of process A for a volume of 7104 units? (round to the nearest cent).Problem 1Advanced Electronics (AE) is a computer chip manufacturer. It has monthly fixed costs of $4,000,000. Its marginal costs are $1.00 per chip.· What happens if sales fall by 20% from 3,000,000 to 2.400.000 chips per month?⢠What happens to average fixed costs (AFC) per chip and the marginal costs per widget?⢠If sales fall by 20 percent from 3 million chips per month to 2,400,000 chips per month, what happens to the AFC per paper, the MC per paper, and to the minimum amount that you must charge to break even on these costs?Hint: Here Marginal Cost (MC) is constant, which implies that Average Variable Cost (AVC) is constant and equals MC. This does not imply Average Total Cost (ATC) is constant or has to equal MC. Total Cost (TC) = Fixed Cost (FC) + Variable Cost (VC). Divide through by the quantity Q, which implies TC/Q = FC/Q + VC/Q. This gives us ATC = AFC + AVC.Problem 2Assume that the cost data in this table are for a purely…
- A Leading mobile phone manufacturer is about to introduce a new series, initially they are launching 4 models of the same series. The accompanying table summarizes price and variable costs data, combined fixed costs equal $540,000. Models Infinity A Pro Max Infinity A Pro Infinity A Infinity A Lite Selling Price (in dollars) 500 400 340 220 Material Cost /unit (in dollars) 220 190 150 90 Labor Cost/unit (in dollars) 90 65 65 50 Table 1 a) Develop a joint total revenue function for sales of the four different models. b) Develop an annual total cost function for manufacturing the four models. c) Develop the profit function for sales of the four models. d) Calculate the annual profit if the firm sells 9000, 12000, 45000 and 22000 units, respectively, of the four models?3. The fixed costs incurred by a small genetics research lab are $200,000 per year. Variable costs are $12,500 per research project.a. If the revenue per project is $30,000, what is the breakeven number of projects of this lab in a year to sustain its operations?b. Currently, the lab works on 20 projects a year. What is their profit at this level?c. If variable costs increase to $13,000 per research project, what is the new BEP? By how much will their profit increase or decrease?A manufacturer of cassette tapes expects a fixed cost of $55,000. It plans to work onthe margin of forty-six percent of retail, and to incur other variable costs of $0.4 per cassette.The selling price per cassette is $6 dollar.i. Find the revenue, cost, and profit functions using q for a number of cassettes.ii. How much profit will be earned if 25000 cassettes are produced?iii. Construct the break-even chart. Label the cost & revenue lines, the fixed cost line, and the break-even point.
- 34- 34 - : If firm X produces 20 units of product with a total cost of 100, what is its average cost? a) 2nd B) 120 NS) 80 D) 5 TO) oneABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the average fixed cost, average variable cost, average total cost and total cost at the current output level. b. Calculate Economic profit and Accounting profit from the figures given below for ABC Company. (3 marks) • Total revenue $ 500,000 • Wages and salaries $ 40,0000 • Forgone salary $ 80,000 • Interest paid $ 10,000 • Forgone rent $ 10,000 • Raw materials $ 50,000 • Other payments $ 20,000 • Forgone interest $ 7,000The following is cost information for the Creamy Crisp Donut Company:Entrepreneur's potential earnings as a salaried worker = $50,000Annual lease on building = $22,000Annual revenue from operations = $380,000Payments to workers = $120,000Utilities (electricity, water, disposal) costs = $8,000Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000Entrepreneur's forgone interest on personal funds used to finance the business = $6,000Refer to the data. Creamy Crisp's implicit costs are: A. $150,000 B. $94,000 C. $136,000 D. $156,000