What is the marginal cost of producing an additional unit:

Q: If there are implicit costs of production

A: To find : What is implicit cost of production.

Q: A factory that you are managing has an hourly production process that can be represented by the…

A: Cost is minimized when production takes place where marginal rate of technical substitution is equal…

Q: 1. A firm's average fixed cost is Rs.20 at 6 units of output. What will it be at 4 units of output?

A: To find : What will be average fixed cost.

Q: For a supermarket, would the overtime paid to the store's manager be classified as a fixed cost?…

A: In accounting and economics, fixed costs, also known as indirect costs or overhead costs, are…

Q: t Suppose that the monthly​ cost, in​ dollars, of producing x chairs is…

A: Total cost measures the overall cost of production incurred in the process to produce output.

Q: For the production function: Q = 12LK , what happens to average cost as the firm produces more? A.…

A: Given, By putting this value of K in production function:

Q: What happens to the average fixed cost, when the output of a firm increases.

A: # In an economy, the average fixed cost is referred to be as fixed cost per unit of output produced.…

Q: (Table) Based on the table, Output is the marginal cost when moving from forty to forty-eight units.…

A: TFC=$500 TC=TVC+TFC MC=Change in total costChange in output

Q: What is the slope of an iso-cost line equal to and why? Provide mathematical explanation

A: Iso-cost line are that cocas of bundle of factors of production whereproduction Total cost is…

Q: Which is NOTa cause of shift in cost curves of a firm?

A: To find : Which is not cause of shift in cost curves of a firm.

Q: The cost, in dollars, of producing x yards of a certain fabric is C(x) = 1100 + 13x − 0.1x2 +…

A: Answer: Given, The total cost function, Cx=1100+13x-0.1x2+0.0005x3 (a). To find the marginal cost…

Q: Prunella raises peaches where L is the number of units of labor she uses and T is the number of…

A: Given  Production function  f(L,T) = LT

Q: e le öf inputs.

A: Aggregate supply curve is defined differently according to different economists. The classical…

Q: Describe the Fixed and Variable Costs?

A: A company mainly faces two type of costs known as fixed cost and variable cost. These two costs are…

Q: Mark's coffee shop has the production function, q=4K0.5L0.5. If the price of labor, L, is 5 and the…

A: "In economics, a firm produce quantity such that it maximizes it's profits and minimizes it's cost…

Q: You are an employer seeking to fill a vacant position on an assembly line. Are you more concerned…

A:

Q: Cost A company buys and retails baseball caps, andthe total cost function is linear. The total cost…

A: Marginal cost shows the increment in the total cost by producing an additional unit of the cap.

Q: 9. For the cost function C(Q) = 100 + 20 - 302, the marginal cost of producing 2 units of output is…

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

Q: Suppose the total cost of producing T-shirt can be TC = 50+2q. The average cost of

A: Given the total cost, TC  = 50 + 2q We are required to find the average cost.

Q: depending on the stages of production(increasing returns, diminishing returns, negative returns) can…

A: Solution: Law of variable proportion: It refers to the increase in quantity of only one input…

Q: The marginal cost of producing the xth box of light bulbs is 4+ dollars per box. Determine how much…

A: The total cost of production refers to the monetary value of all the final inputs used in the…

Q: what is explicit cost with example

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

Q: What happens to fixed cost as the quantity produced increases?

A: In the market, when a firm makes production activities, there are various costs incurred during this…

Q: d. What is the average variable cost of cleaning seven classrooms? e. What is the marginal cost of…

A: Total cost = Total fixed cost + Total variable cost Total fixed cost is those cost which are not…

Q: The production cost for a firm is given in the table below, calculate the marginal cost of producing…

A: Marginal cost is the additional cost of producing each additional unit of output.  Marginal cost =…

Q: The cost of producing 5-gallon water bottles is given by: C(q) = 0.005q + 2q + 1000. If 2000…

A: Given: C(q) = 0.005q + 2q + 1000. Quantity (q) = 2000 units

Q: A farm is currently able to produce 10000 bushels of peanuts per season on 10 acres. Assume it adds…

A: The marginal product of an input refers to the extra output that is produced when one more unit of a…

Q: What factors give rise to increasing returns to scale and decreasing returns to scale?

A: Increasing returns to scale means when all inputs are increased, the output is increased by more…

Q: When the marginal product of adding a worker is a greater loss than the loss of the marginal product…

A: When the marginal product of adding a worker is a greater loss than the loss of the marginal product…

Q: a= min[x,y]^(1/2) a)Draw isoquants for a = 1, a = 4 and a = 9. b)What kind of returns to scale does…

A: Production refers to the process of using inputs to make useful output. The functional relationship…

Q: (Type a whole number.) The expression for the marginal cost function is (Simplify your answer. Type…

A: Total cost is the sum of fixed and variable costs. Variable costs change according to the quantity…

Q: C(x) = 0.01x-0.3x + 10x gives the cost, in thousands of dollars, to produce x thousand items. (a)…

A: We are going to find the Marginal Cost and Minimum marginal Cost and output required to answer this…

Q: What is the impact of a fall in productivity on costs. Explain further.

A: The primary aim of the business is to maximize the profit and reduce the cost. The efficiency of the…

Q: The cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000…

A: It is given that -  C(q) = 0.005q2 + 2q + 1000 and it is given that q = 2000 units.

Q: Why might marginal product be increasing at lower levels of output and decreasing at higher levels…

A: Marginal product (MP) is the extra output produced by one additional unit of input or raw material…

Q: The marginal cost of producing the xth box of DVDS is 15 + and the fixed cost is $100,000. Find the…

A:

Q: What is the difference between decreasing returns to scale and diminishing marginal product?

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: An increase in the firm's cost of a fixed input will in the long-run, cause the

A: An increase in the firm's cost of a fixed input will increase the fixed cost of firm. An increase in…

Q: Which of the following is not a variable cost at the sandwich shop? Cost of labor O Cost of tomatoes…

A: Definition: Variable costs are costs that depend on the number of goods or services it produces. An…

Q: If a business is experiecing diminishing marginal product of labor then

A: Step 1: Explanation of incorrect options

Q: las Production function: Q 20KL The price of one unit of capital per hour is $20 and the price of r…

A: *Answer:  To find the optimal quantity of K (capital) and L (labour), the profit maximising…

Q: If C(x) = 19,000 + 400x – 3.6x2 + 0.004x³ is the cost function and p(x) = 1,600 – 9x is the demand…

A: Given: TC(x)=19,000+400x-3.6x2+0.004x3 P(x)=1,600-9x Now, TR=P×Q TR=(1600-9x)x   (where x is…

Q: How to calculate Samsung's cost (C(Q)) of producing 1, 2,...15?

A: A firm incurs two types of costs while producing goods and services. First is the fixed cost, which…

Q: What is the difference between marginal product and marginal cost?

A: The marginal product is the additional output produced by an additional unit of input in the process…

Q: The marginal cost of producing the xth box of light bulbs is 4 + dollars per box. Determine how much…

A: Given: Marginal Cost (MC)of xth element : 4+x^2/1000 dollars per box Total Cost(TC) of xth element:…

Q: Differentiate between Fixed and Variable Costs?

A: Difference between fixed and variable costs Fixed Costs  Variable Costs 1. They are incurred on…

Q: The additional cost of producing one more unit of output is calicu

A: A firms has fixed cost and variable cost. The total cost is the sum of fixed cost and variable cost.

Q: The following equation represents the cost structure of a firm: C= 10 + 3q. The average cost of…

A: Cost function of the firm, C= 10 + 3q   The average cost of production =  Total cost/ Quantity…