Variable Fixed Total Average Variable Average Total Marginal Quantity Cost Cost Cost Cost Cost Cost $30 1 $10 $30 2 $25 $30 3 $45 $30 4 $70 $30 $100 $30 $135 $30 Table 7.16

Q: 21. The long-run average cost curve for an industry is represented in the following graph. Add…

A: Short run average cost curves are shown.

Q: A firm sells 1,000 units per week. It charges $70 per unit, the average variable costs are $25, and…

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A: Microeconomics deals with the firms and their behaviour individually. The costs and benefits and the…

Q: 2. The following table depicted a computer manufacturer's total cost of producing computer: Quantity…

A: In its most basic form, total cost (TC) refers to all of the costs associated with producing…

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A: In the short run, the firm has both fixed cost and variable cost. In the long run there is no fixed…

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A: In the long run the firms do not have any fixed cost as none of the factor inputs are considered as…

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A: Total cost is the overall cost incurred in the course of production of the good.

Q: Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100…

A:

Q: If Hasan runs the restaurant himself and before setting up this business, he was working in a…

A: An economic profit is the difference between the revenue a commercial entity has received from its…

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A: Since you have posted multiple questions, will be answering only the first part.

Q: A company has the following output and total costs. It can sell each Calculate the average and…

A: marginal cost is the additional cost incurred in order to produce an additional unit of output.

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Q: Douglas Fur is a small manufacturer of fake-fur boots in Philadelphia. The following table shows the…

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A: Marginal cost is the change in the total cost when an additional unit of output is produced. Average…

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A:

Q: Question 2 Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients,…

A: Economic Profit considers both implicit and explicit costs while calculating profit. On the other…

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A: The blue line is the marginal revenue curve and the yellow line is the marginal cost curve.…

Q: Tomato Farms is selling tomatoes in a purely competitive market. Its output is 25,000 bushels, which…

A: Fixed is the cost that remains same at all levels of output. It does not change as production…

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A: Broadly, Total Cost is the summation of Total Fixed Cost and Total Variable Cost. TFC is the fixed…

Q: 2. The above table shows a firm's: * a. Short-run and long-run costs. b. Long-run costs: c.…

A: Perfect competition is a market form that involves the production of homogenous goods and services.…

Q: Quantity of Output Total Cost $12 1 $14 $18 3. $24 4. $32 $42 6. $54 $68 The table above shows the…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: How we can understand the Long-run Normal price in increasing cost industry, and the Long-run Normal…

A: When a business expands, its average expenses rise. This is known as an increasing-cost industry…

Q: A train track runs through a rancher's land. Each time a train runs on the track, it causes one of…

A: *ANSWER :-

Q: A firm has the demand and total cost schedules given in the following table. If it wants to maximize…

A: Given  Total revenue = price × quantity  Profit = Total revenue - Total cost Quantity Price Total…

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A: The perfectly competitive market is the market in which there are large number of buyers and sellers…

Q: * CENGAGE MINDTAP Homework (Ch 13) 5. Costs in the short run versus in the long run Ike's Bikes is a…

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

Q: What does it mean to be operating a firm in the "long run?"

A: "Since you have asked multiple questions, we will only first question for you. If you have any other…

Q: SE THE GRAPH TO ANSWER THE FOLLOWING QUESTIONS: (IF REQUIRED, USE THE DISCREET NUMBER OF BARRELS).…

A: The maximizes profits where the MR= MC. The MC curve cuts the AVC cost curve at its minimum point.…

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A: since you have asked a multipart question and according to our policy we can only solve the first 3…

Q: a. Complete the table by filling in the values for profit, marginal revenue, and marginal cost. b.…

A: Total cost is the cost incurred by the firm for the production of final goods.  The cost is divided…

Q: 9. You are given the following cost data: TFC TVC 12 12 5 2 12 9 3 12 14 4 12 20 5 12 28 12 38 If…

A: Fixed cost is the cost that is incurred that does not relies on the level of production, when the…

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A: find below the answer.

Q: A firm’s cost curves are given in the following table. (Photo) Complete the table. If the total…

A: Cost refers to the overall value of goods and services that producers spent in order to produce the…

Q: Using the following table a) construct the cost schedule for a firm operating in the short run b)…

A: Quantity Total Cost  Total Fixed Cost Total Variable Cost  Marginal Cost Average Total Cost Average…

Q: FC VC TC AFC AVC ATC MC 2. 2 A 3 3 1 2 2 1.8 1 .9 1.9 3 2. 2.4 4.4 .8 1.47 .6 4 2. 2.8 4.8 .5 1.2 .4…

A: Average total cost is the per unit total cost of production. Marginal cost is the additional cost…

Q: Suppose that a small hair styling salon had revenues of $200,000 in a given year. The owner spent…

A: The economic profit is broader term and it considers the opportunity cost as well.

Q: The following table shows partial cost information of White T-shirt Manufacturing Company. The…

A: A partial cost information is given in the table.The table can be shown below:

Q: find the quantity where ATC is at a minimum and find the quantity that is the most efficient…

A: Below is the given table:

Q: You own a business and make $100,000/year. You pay yourself $50,000 and have input costs of $20,000.…

A: Accounting profit is the profit after reducing the impact of explicit cost from the total revenue ,…

Q: The graph shown below is that of Do Drop In, a shop in the dry-cleaning industry.       a) At the…

A: A monopoly is a sole producer of a good thus  having maximum market power and will act as a price…

Q: 'In the short run, the firm should shut down only if the price is less than average variable cost''…

A: This statement is absolutely correct.

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A: Marginal revenue is defined as an increase in revenue value as a result of the sale of a new…

Q: A bakery sells pretzels. The fixed costs come to $8,750.00 per month. It will cost 35 cents to make…

A: Break-even point=Fixed costSelling price-Variable cost

Q: 3. Given information in the following table: Quantity Price (RM) Total Cost 60 18 58 20 3 54 24 4 48…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Lisette owns a bakery. If she expands the size of her bakery but her average total cost of producing…

A: Here, Lisette being the owner of the bakery shop experiences constant returns to scale.

Q: Briefly discuss average costs, including how they are calculated, how they are typically appear on a…

A: The various Average costs are discussed below including how they are calculated :