The marginal cost to make 180 loaves of bread is $3.15, and the average cost to make 180 loaves of bread is is $3.25. Making the 181st loaf of bread will cause the average cost to increase none of the choices provided are the correct answer

The marginal cost to make 180 loaves of bread is $3.15, and the average cost to make 180 loaves of bread is is $3.25. Making the 181st loaf of bread will cause the average cost to increase none of the choices provided are the correct answer

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Related questions

Q: DBM Industries produces exclusively an SP Juice in the market under the name DBM Sparkle . The…

A: A competitive firm is one that has a large number of buyers and sellers, selling homogenous goods.…

Q: Wooden Chair Factory Output Number Number (chairs Marginal of of produced Product of Cost of Cost of…

A: Given: The wooden chair factory costs = $12 per hour The cost of a machine is = $20 per day The…

Q: Total variable cost is 0 at zero level of production True/Falss

A: # Total cost incurred by the firm is the sum of both fixed and variable costs. Total.fixed cost is…

Q: An entrepreneur intends to sell his product for 6.4$ each. The daily cost or expenses can be…

A: Price is 6.4$ each. cost or expenses= x+9.1+.11x^2,

Q: According to the customer's beliefs, the expected value of the accounting system, or the expected…

A: Markets are efficient when perfect information about the goods and services is available to both the…

Q: You are serving as the chair for your community’s annual wellness campaign. A key event is the…

A: * Average variable cost:- When variable cost is divided by output amount, the result is the average…

Q: If fixed cost decreases to $16,000, does this change the production decision of the airline in the…

A: There are two types of costs, one is fixed and other is variable.Fixed cost does not depend on…

Q: A beer bottling plant could produce 99 bottles of beer for $70 or 100 bottles of beer for $82. The…

A: Total cost is understood as the totality of all the costs which are incurred by a firm in producing…

Q: What is the value of the average total cost when Q=2? Enter your answer as a number below. Do not…

A: Given Total cost at output of 2 = 80 ATC = Total cost / output

Q: Pick one of your items. You have been contacted by a customer in Alaska who wants to purchase…

A: Disclaimer :- since you asked multipart questions we will solve only 3 first subparts as per…

Q: The assignment method involves adding and subtracting appropriate numbers in the table to find the…

A: There are different ways to operate a business in the market and the success of the firm depends…

Q: Assume you work for a company that redesigns existing products to improve them, from computer…

A: ANSWER STEP-1 For making a team for such changes i'dselect five members with following qualities.…

Q: The production planner for Fine Coffees, Inc. produces two coffee blends: American (A) and British…

A: It is given that the firm produces two different varieties of coffee which includes the A and B.…

Q: Calbee spent $100 to make 10 face shields. Calculate the average fixed cost of each face shield if…

A: Given Total Cost = $100 Quantity = 10 units Total Variable Cost = $50 Total Cost = Total Fixed…

Q: Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 units each…

A: Marginal profits signify the profits earned by selling an incremental unit of the business unit's…

Q: is correct. Need the one correct answer

A: The rate at which the prices of goods and services increase in an economy is referred to as…

Q: Let AC(q) and MC(q) be the average cost function and the marginal cost function respectively. (a)…

A: We know AC(q)=TC(q)qand MC(q)=dTC(q)dq

Q: If she made a profit of GH¢12,000.00 from the sales, Find; (i) the number of pen drives she…

A: B. (I) Calculate the number of pen drives she originally bought as follows:

Q: a. Write a rule for the amount she would receive (revenue), R dollars, from selling s stockings and…

A: Given is the information : =>Cost of making and delivering 3 stockings =$125 => Cost of…

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: The time to assemble the first unit on a production line is 13 hours. The learning rate is 0.81.…

A: We use the following formula to get the number of hours needed for the eighth unit to be assembled.…

Q: Rail Tours, Inc., sells packaged tours on rail lines, including gourmet meals and a reserved bed.…

A: Demand refers the total amount of goods and services that are willing and able to buy at the…

Q: Tversky and Kahneman’s joint work on decision making received a 2002 ______. (fill in the blank)

A: The economists and psychologists like Amos Tversky and Daniel Kahneman formulated the prospect…

Q: A class uses weighted averages to calculate your course grade. Homework, quizzes, and discussions…

A: Marks in homework (H)= 85 Quiz marks (Q)=70 Marks in discussion (D)=75 Participation marks (P)= 100…

Q: The cost, in billions of dollars, of airing æ five-second hologram actic Chess game can be…

A: ‘Average cost’: ‘Average cost’ is the ‘total cost’ divided by the number of units of the good. It…

Q: Quilts alters, reconstructs and restores heirloom quilts. Cassie has just spent $800 purchasing,…

A: The marginal cost represents the change in the total cost of production that results in one new unit…

Q: The law of diminishing returns or variable proportion is only applicable in the

A: Law of Diminishing returns or variable proportion states that in the short run, when more of…

Q: Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers…

A: Given a sales representative is trying to sell the company a new accounting system that will reduce…

Q: In manufacturing a kerosene stove, it is necessary to make two half-inch holes in No. 22 gage metal.…

A: We have, Situation 1 (With the jig) Cost of jig = P 40.00 Speed of jig = 1 hole/minute Fees of…

Q: Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers…

A: A sales representative is trying to sell a company a new accounting system that will reduce the…

Q: How many students (out of 297) reported a 5 for how much they dread this course? (Hint: you can't…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…

Q: Cluster Question Prompt Consider corporations that use advertising firms to develop marketing…

A: Profit is measured as difference between Total revenue and total cost and there two two types of…

Q: Suppose a certain manufacturing company produces connecting rods for 4- and 6-cylinder automobile…

A: * SOLUTION :-

Q: You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The…

A: Number of racing bikes sold per week when the price is $689.99= 15 During the sale, when the price…

Q: I am having trouble understanding how to answer the last part of this question. I am providing the…

A: According to the law of diminishing marginal product, the marginal output decreases when one more…

Q: The Barnes Center started selling first-aid kits for students in the pharmacy! When 300 first-aid…

A: The average cost is the per unit cost of the output and the marginal cost is the change in the cost…

Q: Is this example also an example of economically rational decision making? “In 2019, I started my…

A: Opportunity cost refers to the cost that is next best alternative foregone to select the best…

Q: Labor rate variance $ 4,000 favorable Labor efficiency variance $ 2,400 unfavorable Actual direct…

A: Total Standard direct Labor cost for the output shows the product cost of the company which…

Q: he time to assemble the first unit on a production line is 11 hours. The learning rate is 0.86.…

A: Given: First Unit (T₁) = 11 We need to find T5 (fifth unit). Formula for the learning curve would be…

Q: if the total cost c=0.2q3 - 4q2 +1000, what is the marginal cost when q=100

A: the monetary value incurred in production process called production cost . There are two types of…

Q: Sanchez Trucking has been experiencing delays at its warehouse operations. Management hired a…

A: * SOLUTION :- (7) Given that ,

Q: A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per…

A: Given: Price at which quantity sold = 2 TC= (1000 + 250) = 1250

Q: Refer to the above graph to answer this question. If the price of the product is $30, what are the…

A: Break even point refers to the point where firm earns normal profit that means TR=TC or P=AC Given…

Q: The marginal cost to make 180 loaves of bread is $3.15, and the average cost to make 180 loaves of…

A: There is a relationship between MC and AC - When MC<AC, AC falls When MC=AC, AC is at its…

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: which quote best represents a person performing a cost-benfit analysis?

A: It is the process used by businesses for analyzing decisions. In this process, all the benefits of a…

Q: Small and medium sized contractors are most likely to keep ony____on staff

A: Small and medium-sized contractors are the ones operating at the basic level. They have limited…

Q: Rail Tours, Inc., sells packaged tours on rail lines, including gourmet meals and a reserved bed.…

A: Answer - Given in the question- Rail Tours, Inc., sells packaged tours on rail lines, including…

Question

Answer

The marginal cost to make 180 loaves of bread is $3.15, and the average cost to
make 180 loaves of bread is is $3.25.
Making the 181st loaf of bread will cause the average cost to increase
none of the choices provided are the correct answer

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Given information:

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Concert Opportunity Cost 2 You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert?
Quilts alters, reconstructs and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished. After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task. Alternatively, she can sell the quilt "as is" now for $900. What is the marginal cost of completing the task? $200 $500 $1,000 $1,000 plus the value of her time
QUESTION Sahar is analyzing the probability to open her own beauty salon. If she chooses to operate her own salon she would have to pay Rs. 70,000 p.m as rent and staff that would cost her Rs. 30,000 p.m and is expected to earn Rs. 150,000 p.m. While if she continues working as the head makeup artist in one of renowned salons of Karachi she would earn 120,000. Analyze the information above and find explicit and implicit cost?
Mirtha owns an online jewelry store that specializes in earrings. In March, she sells 50 pairs of earrings priced at $15. The cost of materials to create the 50 pairs of earrings was $100. The website she uses to sell her wares costs her $10 a month, and she is also charged 4% on each sale by the company that processes debit/credit card purchases. Which of the following best represents Mirth’s total cost? Group of answer choices A)The $750 Mirtha earned from earring sales minus the materials ($100), online website charge ($10), and payment processing charge (4%) B)The sum of the materials ($100), website charge ($10), and 4% payment processing charge (4%) C)The cost of all the materials used to create the earrings, $100 D)The costs of materials minus the costs it takes to run her business through the online store, in this case the $10 website charges and the 4% payment processing charge
Ouput Total Cost 0 $ 10 1 20 2 28 3 38 4 53 5 73 6 98 Refer to the provided table. The total variable cost of producing 5 units of output is Multiple Choice $10. $14.60. $63. $73.
Nancy Lerner is trying to decide how to allocate her time in studying for her economics course. There are two examinations in this course. Her overall score for the course will be the minimum of her scores on the two examinations. She has decided to devote a total of 1,200 minutes to studying for these two exams, and she wants to get as high an overall score as possible. She knows that on the first examination if she doesn’t study at all, she will get a score of zero on it. For every 10 minutes that she spends studying for the first examination, she will increase her score by one point. If she doesn’t study at all for the second examination she will get a zero on it. For every 20 minutes she spends studying for the second examination, she will increase her score by one point.
A firm manufacture robots, for which $1000 machinary is used. The additional per unit cost is $100. If the firm produce 5 robots in a week. Find the total cost of producing.
If the average variable cost of producing 5 costumes in Kira’s Costume Shop is $50, and the fixed cost of the shop is $100, what is the total cost for 5 costumes? A. $350 B. $50 C. $250 D. $150
Pizzas sell for $13 each. Pat’s cost of producing pizzas is given below. Complete the table:
Calbee spent $100 to make 10 face shields. Calculate the average fixed cost of each face shield if the total variable cost incurred was $50. Question 16 options: 1) $0.5 2) $5 3) $10 4) $50
I do not understand the meaning of this question, if it is required to complete the task as soon as possible. I think it should be two people working at the same time, and according to the barrel effect, select a situation where the maximum time is short?
A firm manufacture robots, for which $10000 machinary is used. The additional per unit cost is $100. If the firm produce 5 robots in a week. Find the total cost of producing. Find the average costs of producing roboots