Total Quantity Fixed Costs (FC) Variable Costs (VC) Costs of TC) Apples 0 80 1 80 117 197 332 2 80 252 485 3 4 80 656 845 80 765 6 80 1052 1197 1277 1440 1520 8 80 7

Q: Define different types of costs. Explain Fixed and Variable costs with the help of examples.

A: Types of cost in short run Fixed Costs (FC) It is the cost of fixed factors.The costs which don’t…

Q: Kevin quits his computer programming job, where he was earning a salary of $60,000 per year, to…

A: Given the give up salary = $60000 Rent = $24000 Salary paid to himself = $40000 Rent = 0 Other…

Q: Firm Measures: Productivity, Costs, Revenues, and Profits Labor Total Product (TP) Fixed Cost (TFC)…

A: The marginal product of labor (MP) refers to an increase in total production when one additional…

Q: PriceQuantity Total Demanded Revenue Revenue Marginal Total Cost Marginal Cost $24 1000 $24,000 ***…

A: GIVEN     Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost $24…

Q: A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital…

A: Implicit costs: Any cost previously occurred but has not been shown as distinct item is considered…

Q: 6. The cost that vary accordingly to the volume of output is _____________. a. Fixed cost b. Both…

A: The aggregate cost that is incurred in the process of production on a particular commodity is called…

Q: firm uses 23 employee-hours, it will produce, _units of output and experience total cost of

A:

Q: C) Video Productions sells DVD for $60. The variable cost per DVD is $36, and the fixed costs per…

A: Given:Price of each DVD=$60Variabl cost=$36Fixed cost=$120,000

Q: Find the value of B. Quantity Total Cost Fixed Cost Variable Cost Average Total Cost Average Fixed…

A: "Average fixed cost measures the fixed cost of production per unit of output."

Q: *33) Economies of scale exist when the A) total cost of production falls as the output increases. B)…

A: Economies of scale alludes to the peculiarity where the normal expenses per unit of result decline…

Q: Variable Average Average Average Marginal Total Total Cost Fixed Cost Profit Cost Total Cost…

A: Answer to the question is as follows:

Q: 9. Average cost goes up when A. marginal cost goes up B. marginal cost goes down C. marginal cost…

A: There are different costs involved in the production process. Total cost, variable cost, average…

Q: antity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost…

A: TC = FC + VC VC = TC - FC MC = (TC2 - TC1)/(Q2 - Q1) AVC = VC / Q ATC = TC / Q

Q: Table 1 Fixed Variable Total Total fixed Total variable Total input input product cost cost cost 20…

A: Total fixed cost is the cost of production that does not gets affected by the change in the quantity…

Q: The same firm produces 500 lawnmowers per week. It hires 20 full-time workers (40 hours/week) at an…

A: Given that, Units produced = 500 Here , hiring workers and raw materials are variable cost . Raw…

Q: Output Total Variable Marginal Variable Fixed Total (Q) Fixed Cost Cost Total Cost Cost Cost Cost…

A: Marginal cost is the additional cost incurred with an additional unit of output produced.

Q: 9. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of…

A: A company's production expenses, also known as product costs, are incurred when it manufactures a…

Q: Find the value of X. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000| $1,000…

A: Total cost is the sum of fixed cost and variable cost

Q: You are interested in starting a used car dealership in your country. Provide examples with…

A: Answer 1 :

Q: 31. Marginal cost is a Total cost per unit of output b. Average total cost divided by the quantity…

A: 31) Marginal costs are defined as a function of the total cost of production, the costs include both…

Q: Fill in the remaining cells of the table. Average Variable Cost Total Total Fixed Total Variable…

A: Marginal cost is the cost incurred by the firm when one additional unit of output is generated. It…

Q: The following data concern one of the most popular products of XYZ Manufacturing. Estimate the…

A: (Assuming selling price is X) Total cost is calculated as follows. Total cost=Labor cost+Overhead…

Q: A firm has fixed costs of $60 and varlable costs as Indicated in the table below. Complete the…

A: Total cost:Total cost for quantity 0 can be calculated as follows:

Q: Last year Doreen's Dairy earned a total revenue of $42 thousand from selling 7 thousand pounds of…

A: The provided information are: Variable cost = $28 thousand Total cost = $40 thousand

Q: The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the…

A: Given information: Total number of motorbikes = 100  Total cost of production = $1000

Q: A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital…

A: Given: Sales revenue=$1 million Labor=$600,000 Capital=$150000 Materials=$200000 To find: Firm’s…

Q: Shown are the related cost curves: 550 110 (0) 500 100 450 90 400 (A) 80 (D) 350 70 300 60 (F) * 250…

A: Total cost refers to the sum of all cost incurred for producing the particular level of output from…

Q: Find the value of Y. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $1,000| $1,000…

A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building,…

Q: 1 2 3 4 5 7 8 Units Total Total Total Average fixed cost (R) Average variable cost Average product…

A: Total product is the total output (Q) produced by the firm. AFC is the fixed cost per unit of Q. AVC…

Q: 8. A businessman is thinking of opening a factory in one of these places in Ethiopia: Bahir Dar, or…

A: Represent the table showing the fixed cost and variable cost as follows:

Q: Task 3 3(a) Medi Pharma Company produces two products Mask and PPE kit (both are in high demand due…

A: Scarce resources decision is a judgment according to the maximum total net income of a firm by using…

Q: ECONTO1 FEX 2021 2Male ewamus.net dearoducing a quantity of 20 units. The market price is $17. The…

A: Given  A firm is producing  Quantity = 20 units  Price = $17.  Variable cost = $60  Fixed cost =…

Q: Total Marginal Cost (using total cost) Quantity Variable Marginal Cost Cost Cost (using variable…

A: Fixed cost of production is that portion or part of firm's costs which remains same at each level of…

Q: Suppose that the market price increases to $6, as Table shows. What would happen to the…

A: Perfect competition: Under this market, a single price prevails in the market and the price is…

Q: Marginal Variable Fixed Product Cost Cost Labor Output $0 $5 100 100 $5 250 $10 3 350 $15 4 50 $20…

A: In a market, total output and total Product are same thing and it can be computed with the help of…

Q: FIGURE 7-3 $100 90 80 70 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure 7-3.…

A: please find the answer bThe marginal cost (MC) curve is calculated by dividing the change in total…

Q: Quantity Average Fixed cost Fixed Cost Total Total Average Variable Total Cost Average Total cost…

A: A company must bear two forms of costs while production, variable costs and stuck costs. Variable…

Q: 5. A toy factory has an annual demand for 20,000 of tops. It cost $1.50 to store one top per year.…

A: The given constraints are k=1.5, g=3.5, f=500, M=20000 Total cost function…

Q: Average Average Fixed Variable Output 1 Cost Cost $50.00 25.00 $100.00 2 80.00 3 16.67 66.67 4 12.50…

A: Cost refers to the all the expenses and expenditure that incur in a process of production of goods…

Q: Find the value of A. Quantity Total Cost $5,000 Fixed Cost Variable Cost Average Total Cost Average…

A: The sum of fixed cost and variable cost makes total cost.

Q: 49. Last year Doreen's Dairy earned a total revenue of $42 thousand from selling 7 thousand pounds…

A: Here the variable cost given is $28 thousand Total cost given is $40 thousand To get the fixed cost:…

Q: le production schedule for Great Balls of Fire, a food truck that sells alls of Fire has a lease on…

A: Here, the given table shows variable cost and total cost of a firm using which one can concourse the…

Q: 5. Economies of scale occur when a. the long run total cost is decreasing b. the long run total…

A: Answer to the question is as follows :