The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The average cost per widget for producing 500 widgets is closest to which of the following? a. $1,000 b. $6 c. $8 d. $4,000.

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: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False

A: "Marginal cost represents change in total costs when one more unit is produced while average total…

Q: The government imposes a $1,000 per year license fee on all pizza restaurants.  As a result, which…

A: License fees are generally considered to be fixed costs. It is the money paid by a person using…

Q: Draw an example of the Total Fixed Cost, Total Variable Cost, and Total Cost of a company whose…

A: Total Cost: The term total cost refers to the sum of all the costs that are used in the production…

Q: Which of the following statements is (are) correct? (x) If marginal cost is less than average total…

A: Average total cost refers to total cost per unit of output. Average total cost is the sum of average…

Q: Economic cost and accountant cost are not equal. Why aren’t they equal? Explain with example

A: Maintaining a business demands that you keep a heartbeat on the monetary components that influence…

Q: If the marginal cost MC = 5+4Q , and the fixed cost is 4, what is the total cost function?

A: As per question, marginal cost MC= 5+4Q and fixed cost is 4. Taking integral (with respect to Q) of…

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

A:

Q: What is the relationship between the Average Fixed Cost (AFC) curve and the Marginal Cost (MC)…

A: * ANSWER :-  * The OPTION A (There is no relationship between fixed costs and marginal costs) is…

Q: 7. What is the average total cost function and the MC function? 100 a. ATC= +60³; MC = 80 b. ATC=…

A: Given; Production function; F(L,K)=L1/4K1/2 Wages; w= 2 Rent; r= 4

Q: In the short run marginal cost crosses average total cost at the minimum of average total cost True…

A: According to the given question Simply a Short run period is that period in which the other factors…

Q: Cost (thousands of $) The graph shown on the right represents the cost C (in thousands of dollars)…

A: Cost refers to all the expense as well as the expenditure in a production process. These expenses…

Q: What is Cost Analysis?

A: The correct answer is given in the second step.

Q: 1. Marginal cost is given by MC = 25 + 30Q – 9Q². Fixed cost is 55. Find the (a) total cost, (b)…

A: The firms, and businesses are the entities who are involved in the production process. The firms…

Q: Suppose that a small family farm sold its output for $100,000 in a given year. The family spent…

A: Given: Fuel=$25000 seed, fertilizer, and pesticides=$40000 Equipment=$25000 Other occupations=$20000

Q: Which of the following is a correct statement about the relationship between average cost (AC) and…

A: The relationship between MC and AC can be stated as under: (i) When AC falls with increase in…

Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…

A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.

Q: Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B.…

A: Fixed cost is the cost that remain same at all levels of output. Variable cost is the cost the…

Q: Solve the attahment.

A: There are different concepts of costs in the production process such as total cost, marginal cost,…

Q: If c=3q-3q2+q3is a cost function, when is marginal cost decreasing?

A:

Q: Calculate average cost when total cost Is 100 and total quantity is 8

A: Total cost is defined as the sum of all the expenses being faced by the producer in the production…

Q: What happens to marginal cost if a business's average total cost is decreasing? Marginal cost must…

A: Marginal cost (MC) is the change in total cost when one more unit of a good is produced.Average…

Q: f the cost of producing 100 pies is $274 the average total cost is?

A: Average total cost refers to total cost per unit of output. It is the sum of average fixed cost and…

Q: 1.7 Use the information in the graph to find the values for the following costs at an output level…

A: Total fixed cost refer to the total expenditure which remain fixed at all levels of output . It does…

Q: What will happen to the average total cost if the average variable cost is falling? a. Rises B.…

A: The average Total cost if the the average variable cost is falling is also falling.

Q: When a toy factory makes x dolls a day their total cost is C(x) = 50 + 9x + 0.02x² dollars. What is…

A: ANSAverage Cost (AC) is the per unit cost of the output. It is obtained by dividing the Total Cost…

Q: Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output…

A: Given,  ATC = $60 AFC = $25   MC = $45 Output = 300.

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 total cost if average cost is $11 and output is $20

A: The data presented in the question above:- Average cost = $11 Output = $20  Total cost is to be…

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: Compare and contrast: a) Average fixed cost vs. Total fixed cost b) Total variable cost vs. Average…

A: Differentiate between Average fixed cost and Total fixed cost:- Average fixed cost Total fixed…

Q: If accounting profit is $400000 greater than economic profit, what do implicit costs equal?

A: Implicit cost: A certain expense is any cost that has just happened yet not appeared or detailed as…

Q: Which average cost curves are U-shaped?

A:

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: Q2.Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then…

A: Average Cost(AC) is the cost of each unit that is evaluated by dividing Total Cost by the amount of…

Q: if economic profit equals accounting profit, what do implicit cost equal?

A: (Q) If economic profit equals accounting profit, what do implicit cost equal? There are two types of…

Q: Which of the following is always true?A) When marginal costs are less than average total costs,…

A: Below are the cost curves: (Sorry it’s a free hand diagram so it is not very neat)

Q: If b=0, what would happen to the total-cost and marginal-cost curves of C=C(Q)=aQ^3+bQ^2+cQ+d?

A: We are going to analyse the cost curve behavior to answer this question.

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

A: Note : There are multiple sub parts in this question. Hence, only the first three sub parts shall be…

Q: 3. XYZ corporation produces widgets. Its short-run marginal cost curve is given by MC (q) = 10 – 5q…

A: Given information MC=10-5q+q^2 Marginal cost is the additional cost incurred by producing additional…

Q: The diagram displays short-run cost curves for a facility that produces liquid crystal display (LCD)…

A:

Q: Explicit cost = $100 Implicit cost = $163 Total cost = ?

A: Generally in the question, Explicit cost value is = $100 Implicit cost value = $163 We need to find…

Q: Nokia sells a new budget cell phone. Based on information provided by the accounting department, the…

A: Total cost is sum of fixed cost and variable cost. Fixed cost does not depend on quantity whereas…

Q: Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, what is Average Total Cost (ATC)? A. ATC…

A: Average cost or unit cost is equal to total cost divided by the number of units of a good produced…

Q: e) Draw curves for average cost (AC), average variable cost (AVC), marginal cost (MC), and average…

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

Q: How would each of the following affect average total cost, average variable cost, and marginal cost?…

A: GIVEN  How would each of the following affect average total cost, average variable cost, and…