Title TC = 160(Q) – 20(Q)2 + 1.2(Q)3.Calculate the total, marginal and average costs for the first ten... Description TC = 160(Q) – 20(Q)2 + 1.2(Q)3.Calculate the total, marginal and average costs for the first ten quantities (in R million).

Q: Question Given the following cost function: TC = 1500 + 15Q – 6Q 2 + Q3 (a) Determine the total…

A: Total cost is computed as the sum of total fixed costs and total variable costs incurred by the…

Q: Suppose that a sole proprietor ship is earning total revenue of $300000 and is incurring explicit…

A: here we can find the profit or loss for sole proprietor ship  and choose the correct  option as…

Q: You are analyzing a new company’s records projecting their profits using a marginal profit function,…

A: We are going to use marginal approach to answer this question.

Q: A shoe store sells 250 pairs of sneakers per month at a per-unit price of $115. This is the price…

A: Economic profit is the difference between total revenue and total cost. Total cost includes fixed…

Q: A. Will you invest a project that requires a $ 200,000 today and returns $50,000 at the end of the…

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

Q: Long-Run Marginal Costs Like all average cost curves, the long-run (LATC) curve has its own marginal…

A: In a market, marginal cost and average cost are related to each other to some extent.

Q: Output   Total Cost 0 15 1 25 2 33 3 40 4 48 5 58 6 70 Table 8.5 Refer to Table 8.5. The total…

A: Variable Cost varies with the units of Output. Fixed Cost remains same at all levels of Output.…

Q: Cost, Revenue & Profit For these problems, xx will represent the number of items and yy will…

A: Slope intercept form: Y=AX + B

Q: ACME Coal paid $5,000 to lease a railcar from the Reading Railroad. Under the terms of the lease,…

A: 1. The cost of production includes the cost paid for the factors of production and the assets etc.…

Q: 3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of…

A: The profit is maximized where the MR = MC.  Thus, condition for profit maximization: MR = MC.

Q: Given that fixed cost=230 and variable cost=12Q; the total cost of producing 30 units of output is?…

A: Total fixed cost = $230 Total variable cost = 12Q Units = 30 units  Total cost = ?

Q: If firm X produces 20 units of product with a total cost of 100, what is its average cost?    a)…

A: Total cost - Total cost is the cost which includes fixed cost and variable cost included in…

Q: firm X has a total cost of 100 and a total variable cost of 80, what is its total fixed cost?     a)…

A: Fixed cost is independent of output produced.

Q: Given the production and cost schedule for Laso Factory for tapes.Assuming that capital is the only…

A: A fixed cost is a cost that does not change with the change in the production of goods and services.…

Q: ou own AAA Audio/Video Repair. You make service calls to customers’ homes to repair their…

A: Fixed cost = 10,000 Variable cost = 20/service

Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…

A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…

Q: Given the Total Product indicated in Table 2, complete MFMI’s cost schedule including variable…

A: The variable cost can be calculated by using the following formula as follows: Variable cost=Total…

Q: If the average variable cost of producing 4 jeans at Jerry's factory is $60, and the fixed cost of…

A: Total cost = Fixed cost + variable cost Variable cost = Average variable cost * quantity

Q: 7. Product & Cost Curves: Numerical Cobb-Douglas Case > Continue with the general functions from the…

A:

Q: The Jones Company has the following cost schedule:   Output Total Cost (Units) (OMR)     0…

A: Table Output(1) TC(2) MC(3) FC(4) AFC(5) VC(6) ATC(7) AVC(8) 0 3000 -…

Q: Classify the following costs as explicit or implicit. Explain your answer ABC Company spent $1000…

A: Explicit cost :- Those cost which is actually incurred by the organization is called explicit cost.…

Q: Output Total Cost 0 24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The…

A: total cost measures the cost incurred in order to produce an output. TC=TFC+TVC

Q: Assume that the operation has the cost function C(O) = 200 - 30 - 80- 40 and the marginal cost…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Suppose a firm produces 20 unit of output per month and has a total variable cost of R3000 per…

A: Here, given information is: Total output produced= 20 units Total variable cost per month= R3000…

Q: Why can the distinction between fixed costs and variable costs be made in the short run? Classify…

A: Variable costs are the costs of a business and are related to the number of products or services it…

Q: 1. The amount of fixed factory costs applied to the product during the first 6 months under…

A: Answer -

Q: Given the total cost function TC - 2,000 + 2*Q. when output is 1,000 units average total costs are.…

A: The formulas for cost are: 1. Total Cost = Fixed Cost + Variable Cost 2. Average Total Cost = Total…

Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…

A: Total cost = Fixed cost + Variable cost Marginal cost = Change in total cost / Change in total…

Q: Exhibit 11-4 Units of Output Variable Cost Total Cost Marginal Cost (dollars) (dollars) (dollars) 80…

A: We know, Average Fixed cost (AFC) = (TC-VC)/q When the output = 4 units, at that point Total cost…

Q: The table below contains average cost data for four different-sized plants-1, 2, 3, and 4-which are…

A:

Q: What is the critical point of the total cost function TC =-Q³ - 6Q2 -640Q ? %3D O A.Q = 10 О В. Q —…

A: The total cost function is given as follows: TC = 13Q3 - 6Q2 - 640Q Where, TC is total cost. Q is…

Q: Explain the difference between and the economic relevance of fixed costs, sunk costs, variable…

A: The cost of production includes the cost of the raw materials, cost of the factors of production as…

Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…

A: Given: Labor rate= tk. 3949.0 per worker Fixed cost=tk. 10630.0 per week

Q: The total cost (CT) of Holdins-up is CT = 4q2 + 4q + 16CT = 4q2 + 4q + 16. Get the fixed cost (CF)…

A: Total cost function: CT = 4q2 + 4q + 16 Total cost is the sum of variable cost and fixed cost.

Q: Describe the distinctions between fixed and variable costs and among total, average, and marginal…

A: The producers uses various factors of production in order to produce a given quantity of goods, and…

Q: Assume that the operation has the cost function Cia) = 200 - 30 - 80 40 and the marginal cost…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: A firm has the following average variable cost equation. AVC = 60 – 15Q+ Q? And the average total…

A: Average total cost is the sum of average variable cost and average fixed cost i.e., ATC = AVC + AFC…

Q: Which of the following statements is correct? A. Accounting profit is typically larger than economic…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Can you please answer parts d & e below only as you have answered the first 3 parts previously:…

A: Given; Fixed cost= 50000 Average variable cost= 10000Q+Q20000

Q: A multi product firm's cost function was recently estimated as C(Q1Q2)=90-0.5Q1Q2 + 0.4Q21 + 0.3Q22…

A: C(Q1Q2)=90-0.5Q1Q2 + 0.4Q21 + 0.3Q22 The firm can have economies of scope when;…

Q: tc=1500+15q+6q^2+q^3 1=the total fix cost at 1000 and 500 units of output? 2=the total variable…

A: We have the following information- The total cost is given as- tc=1500+15q+6q2+q3

Q: TC = 116 +27Q+4Q² What is the average fixed cost when 5 units are produced? Enter as a value, ROUND…

A: Answer: Given, Total cost function: TC=116+27Q+4Q2 Fixed cost: fixed cost remains fixed in the short…

Q: A start-up mobile phone manufacturer who produces mother boards has fixed of $320,000 per year and…

A: Given information: Fixed costs of start-up = $320000Variable cost = $11 per unitFixed cost of…

Q: Using the data in the above table, the average fixed cost of producing 16 units is

A:

Q: A firm is currently producing 10 units. Its fixed costs are $100 and its variable costs are $40.…

A: From the details we can find total cost.

Q: Question 10 TT Quantity of Output Fixed Costs Variable Costs 15 2 15 12 4 15 23 15 38 8. 15 46 10 15…

A: Total cost = total fixed cost + total variable cost Marginal cost = (change in total cost / Change…