Q: Question 3 A Toyota Camry costs $19,600 and has an average gas mileage of 30 mpg while Prius costs…
A: Given; Toyota Camry costs= $19600Mileage= 30mpgPrius Costs=$23000Mileage= 50mpgCost of 1 gallon gas=…
Q: Richard is considering relocating to an assisted living facility. He learns that there is an initial…
A: Richard is considering relocating to an assisted living facility. He learns that there is an initial…
Q: True or false? a. The AFC curve can never rise. b. Diminishing marginal product is a long-run…
A: The AFC stand for Average Fixed Cost curve which refer to that price of a commodity in the economy…
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A: Given that, The increasing rate of Hamburgers = 30/day Cost of one Hamburgers = $1.15 The daily cost…
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A: A firm's main objective is always to maximize its profit. The firm maximizes its profit by producing…
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A: a.) total=y+x on the grounds that it will be the amount of the two shipment amounts.
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A: Marginal analysis is an assessment of the additional advantages of an operation relative to the…
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A:
Q: When the MC curve is above the AVC curve, the AC curve must be decreasing.
A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…
Q: Julia and Ralph need to decide which one of them will take time off from work to complete the rather…
A: From the situation given here, we see that Julia and Ralph both have daily jobs to do for which they…
Q: The Marginal Cost curve will a. cut ATC at the minimum of ATC but cut AVC at a point to the…
A: Marginal cost: Minimal expense speaks to the gradual costs brought about while creating extra units…
Q: With the aid of a graphical illustration (with complete labels, preferrably virtual), describe the…
A: Total Fixed Cost (TFC) are the costs that are fixed regardless of production, such as factory…
Q: Find the Slope of an Assumed linear demand curve for the Caesarean section, when 1000 Caesarean…
A: Slope can be calculated by using the following formula.
Q: A printer quotes a price of $7, 500 for printing 1,000 copies of a book and $15, 000 for printing…
A: Cost for printing 1500 Copies = Cost for Printing 2500 Copies - Cost for Printing 1000 Copies =…
Q: Es is $90, so you should start your MC curve by placing an ange squa e: Plot your points in the…
A: The MC is related to AVC and ATC. These costs will fall as long as the marginal cost is less than…
Q: Find fixed cost if output is 20 units and AFC is $21
A: Given information, Total output= 20 units Average fixed cost (AFC)= $21 To find: fixed cost
Q: A retailer determines that the cost of ordering and storing units of a product can be modeled by…
A: Given, C(x) = 3x + 20000/x where 0 is less than or equal to (x) and (x) less than or equal to 200…
Q: TB, TC TC A TB ID rence: TB and TC Curves maximum NB is can be seen by the distance between AG and C
A: the correct answer is B. E and B
Q: The difference between ATC and AVC decreases with decrease in level of output.
A: Average total cost (ATC) is the ratio of the total cost (TC) and the quantity (Q). ATC=TCQ Average…
Q: MNLogs harvested logs (with no inputs from other companies) from their property in northern…
A: a. Above is the calcuated table.
Q: If a bus company adds a third daily bus between 2 cities , the company's total costs will increase…
A: The bus company has 2 daily bus between two cities. He is thinking to add the third daily bus which…
Q: Here is a breakdown of Joe's Garage who usually repairs up to 100 cars a month: ATC = $200, AVC =…
A: Given: ATC=$200AVC=$150MC=$100
Q: The only variable input a janitorial service firm uses to clean offices is workers who are paid a…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: A research study published in Social Science Medicine. "Production Functions for General Hospitals,"…
A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…
Q: What equation shows the relationship of MC to AVC when AVC is rising?
A: Marginal Cost It refers to the change in the total cost due to one unit change in output. Variable…
Q: MNLogs harvested logs (with no inputs from other companies) from their property in northern…
A: a. Company Revenues cost of purchasing inputs value added MNLogs $1000 $0 $1000 MNLumber…
Q: Describe the behaviour of the ATC in relation to MC
A: Marginal cost (MC) is the additional cost incurred on producing one extra unit of the output.…
Q: $20 $18 MC ATC $16 $14 $12 $10 $8 $6 $4 $2 $0 20 40 60 80 100 120 Output (Q) In the graph above, the…
A: MC refers to change in total cost with respect to change in output. AC refers to total cost per unit…
Q: The AVC and the AC curve can intersects each other at any point True/False
A: # The average per unit variable cost isris to be as Average variable cost and the average per unit…
Q: The distance between the TC and TFC curves narrows as more mountain bikes are produced.
A: When a firm produces output, it's fixed cost refers to the cost that remains fixed at any output…
Q: Determine if the statements and expressions regarding costs are true or false. True False Average…
A: We can re-create the table correctly as follows.
Q: Derive (Mathematically and graphically) the cost minimization condition.
A: Let’s assume the following in order to derive the cost minimization conditions.
Q: Does the output maximization level of input use exist for the following function? If yes, then what…
A: Given: The production function for a firm is: y = x1 + 0.1x12 - 0.05x13 + x2 + 0.1x22 - 0.05x23 To…
Q: Bounds Inc. determined through regression analysis that its sales (S) are a function of the amount…
A: Since there is no constrain given to find the maximum value of sales, this is known to be an…
Q: Julius builds dining chairs that he sells for $200 a chair. His fixed costs are $1,000 (for workshop…
A: Given:P = $200, FC=$1000, VC= $50 + $25.Total cost = FC+ VC*q + 25 (q-1) = 1000 + 50q + 25q- 25TC=…
Q: MNLOGS harvested logs (with no inputs from other companies) from their property in northern…
A: Given,MNLogs harvested logs with zero input cost and sold these logs to MNLumber for $1,500. Then…
Q: Michael must pay $700 for a statistical package, plus $140 for each additional analysis add-on. Find…
A: The cost for a statistical package is fixed is fixed because it must pay. The cost of analysis is…
Q: Purpoll Oven operates a bakery in Quezon City. Due to its delicious products and strategic location,…
A: Work productivity is defined as real production per labor hour, and the change in this ratio over…
Q: The total benefit of a 3.0GHZ computer is:
A: So we need to find total benefit of a 3.0GHz computer.
Q: A condominium developer in Pattaya asked a local estate agent for advice about the sale price he…
A: Since we only answer up to 3 sub-parts, we’ll answer the mentioned 3. Please resubmit the question…
Q: Cost savings may be ________________ such as lower prices paid, or ______________ such as increased…
A: There are 6 types of cost cost savings : Historic saving Budget savings Technical savings RFP…
Q: After Joyce and Larry purchased their first house, they made additional home improvements in…
A: The correct alternative in this case is Backward Bending.
Q: The vertical distance between ATC and AVC is equal to TVC O AFC
A: 1. ATC = AFC + AVC Therefore AFC = ATC – AVC 2. AFC curve is downward sloping with increase in…
Q: Sara requires 37 minutes to produce her first unit of output. If her learning curve rate is 65%, how…
A: Time required to produce first unit = 37 minutes Learning curve = 65% Output rate = 13 units per…
Q: The MC curve cuts the AVC and ATC curves at
A: To find : Marginal curve where cuts average curve
Q: A condominium developer in Pattaya asked a local estate agent for advice about the sale price he…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: You know several relationships among these variables that will allow you to check your work. For…
A: Average Total Cost (ATC) is the total cost per unit of output. Average Fixed Cost (AFC) is the total…
Q: Costs curves can shift. If a firm negotiates a new labor contract with its workers to raise wages,…
A: With the increase in wages , the cost curve will rise to show the higher cost .
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- The difference between ATC and AVC decreases with decrease in level of output.The activity driver for the packing activity is the number of packing hours. Product A uses 50 packing hours and Product B uses 150 packing hours. Calculate the consumption ratios for each product. Group of answer choices 0.3; 0.7 1; 3 0.25; 0.75 0.215; 0.785The AVC and the AC curve can intersects each other at any point True/False
- MNLogs harvested logs (with no inputs from other companies) from their property in northern Minnesota. They sold these logs to MNLumber for $1,000 and MNLumber cut and planed the logs into lumber. MNLumber then sold the lumber for $2,500to MNFurniture. MNFurniture used the lumber to produce 100 tables that they sold to customers for $60 each.Instructions: Enter your responses as whole numbers.a. Complete the table below to calculate the value added by each firm. Company Revenues Cost of purchased inputs Value added MNLogs $ $ $ MNLumber $ $ $ MNFurniture $ $ $ b.Suppose that all of these transactions took place in 2016. By how much did GDP increase because of these transactions?$ c.Suppose that MNLogs harvested the logs in October 2016 and sold them to MNLumber in December 2016. MNLumber then sold the finished lumber to MNFurniture in April 2017 and MNFurniture sold all 100 tables during the rest of 2017. By how much did GDP increase in 2016 and 2017 because of…Julius builds dining chairs that he sells for $200 a chair. His fixed costs are $1,000 (for workshop equipment). Each chair costs him $50 in materials to produce plus an extra $25 for each previous chair made that day, which reflects Julius's increasing exhaustion. (Thus, the first chair cost $50, the second costs $75, the third cost $100, etc.) Assume time requirements in producing a chair are not a factor. How many chairs should Julius produce each day?On the occasion of summer vacation, a student plans to open a milk tea shop. Before deciding to open a store, she wants to find out how profits fluctuate with fluctuations in selling prices and costs per unit of product. The selling price per cup of milk tea can range from VND 20,000.00 to VND 30,000.00 (the level of change is VND 1,000.00 each time) and the cost to make a cup of milk tea can range from VND 13,000.00 to VND 17,000.00 (the level of change is VND 500 each time). Knowing that the initial fixed cost is VND 24,000,000.00 and the number of cups of milk tea sold (Demand) depends on the selling price according to the formula: Demand = 24000 - 0.5 * Unit Price Use the two-dimensional sensitivity analysis to answer the following questions: a) What is the profit if the selling price is 23,000.00 VND and the cost per unit is 15,000.00 VND? b) How will profit change with each increase in cost of a product unit by VND 500.00 with a constant selling price of VND 25,000.00? c) What is…
- Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 45% in the last year. On far too many occasions, customers have not been able to purchase the bread of their choice. Because of the size of the store, no new ovens can be added. At a staff meeting, one employee suggested ways to load the ovens differently so that more loaves of bread can be baked at one time. This new process will require that the ovens be loaded by hand, requiring additional manpower. This is the only production change that will be made in order to meet the increased demand.The bakery currently makes1,800 loaves per month. Employees are paid $8 per hour. In addition to the labor cost, Charles also has a constant utility cost per month of $650 and a per loaf ingredient cost of$0.40. Part 2 what is the Current multifactor productivity for 640 work hours per month = loaves/dollar (round your response to three decimal…Bloomswood Hotel is situated in Forkland, a picturesque town in the mountain region of a country. Allen Grabos works as a gourmet chef at the hotel that caters mostly to tourists. In a conversation with his wife, Delia Grabos, Allen claims that he is underpaid. The hotel makes up to $500,000 per year but his annual salary is only around $28,000 a year. Delia, however, is of the opinion that since new hotels and inns are expected to open in Forkland, the salaries paid to hotel staff in the area should increase. (1) Which of the following, if true, will weaken Delia's argument? A. Due to an increase in the number of fatal accidents recently in Forkland, tourism in the area was adversely affected. B. Tourism revenues in Forkland have been increasing consistently for the past 5 years. C. Spring and summer are the peak tourist seasons in Forkland. D. Bloomswood sold one of its seaside resorts because tourism in that part of the country declined substantially. E. Bloomswood…Suppose the relationship between your study time and your grade on a History midterm is given by the following table:If you study for Your grade will be4 hours 805 hours 906 hours 93What is the "marginal grade improvement (MGI)" of the 5th hour of studying? What is the "marginal grade improvement (MGI)" of the 6th hour of studying? Why might the MGI be diminishing?
- What equation shows the relationship of MC to AVC when AVC is rising?Julia and Ralph need to decide which one of them will take time off from work to complete the rather urgent task of pruning their trees. Julia is pretty good with a pole saw; she can prune the trees in 1 hour. Ralph is somewhat slow; it takes him 6 hours to prune the trees. Julia earns $120 per hour as a business consultant, while Ralph earns $15 per hour as a lifeguard.Keeping in mind that either Julia or Ralph must take time off from work to prune the trees, who has the lowest opportunity cost of completing the task?State the relationship between average variable cost (AVC), and marginal cost (MC) when AVC is decreasing, is AVC is above (greater), equal, or less (below) than MC? ________ choose one AVC is minimum, is AVC is above, equal or less than MC? __________ choose one AVC is increasing, is AVC is above, equal, or less than MC? _________ choose one
