What is the marginal cost of producing an additional unit:
Want to see the full answer?
Check out a sample Q&A here
Related Economics Q&A
Find answers to questions asked by students like you.
Q: What is the fixed cost of production
A: Given, MC(q) = 6 + (9/10) * q By integrating this function, we can get Total Variable Cost (TVC)…
Q: What is the variable cost of producing 375 units of output? WHY
A: Variable cost can be calculated by using the following formula:
Q: What is another term for marginal costs
A: Marginal cost refers to the additional cost incurred by firm or a producer when one additional unit…
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: (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: 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: What is the firm's average fixed cost of producing 1,500 gadgets?
A: Fixed cost refers to the cost incurred by a firm irrespective of the level of output produced by a…
Q: Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars. %3D (a) Find the marginal…
A: Given Information: cost function: C(x) = 40 + x2 * The marginal cost of a commodity is the cost of…
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 the difference between fixed costs and variable costs?
A: The difference between the fixed and variable cost is as follows:
Q: What is the difference between fixed costs and variable costs?
A: Production function shows how the business firm can make its output from employing the physical…
Q: What is the difference between fixed costs and variable costs?
A: The costs refer to the expenditures which are incurred by the firms in order to purchase inputs, and…
Q: What is the difference between fixed costs and variable costs?
A: Business costs are the amount of expenditure ( implicit and explicit ) carried out to promote and…
Q: What is the relationship between marginal product and marginal cost?
A: The firms, and businesses tend to operate in the markets, where they supply various goods, and…
Q: The marginal cost of producing the third unit of output is
A: Answer to the question is as follows :
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: 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: What is the average variable cost of producing 400 units of output?
A: Answer: Given that: Labor Output Marginal Cost Variable Cost Fixed Cost 0 0 0 5…
Q: what is the minimum cost of producing 1000 units of output?
A: Click to see the answer
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: What is the difference between sunk cost and fixed cost? Explain with examples.
A: Sunk costs and fixed costs are two kinds of expenses borne by a corporation in the different…
Q: Are all fixed costs also sunk costs?
A: Sunk Cost: It refers to the cost that is once incurred can’t be recovered.Fixed Cost: It is the cost…
Q: what is the use of production fuction in product analysis?
A: Production analysis refers to the analysis of the process in which resources categorized as land,…
Q: Jake is a corn farmer in Nebraska. He rents his land on a long-term lease for $250,000 a year. He…
A: Total cost =total variable cost + total fixed cost
Q: What is the relationship between marginal product and marginal cost? Why do you suppose that is? Is…
A: Marginal Product: The term marginal product refers to the increase in total product due to the use…
Q: What is the difference between decreasing returns to scale and diminishing marginal product?
A: Returns to scale: Returns to scale measure the change in total output from changing all inputs of…
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: what is the marginal cost of the third unit?
A: Ans. 1.15 Marginal Cost is defined as the change in the total production cost that is generated from…
Q: What are Fixed Costs?
A: A company mainly faces two type of costs known as fixed cost and variable cost. These two costs are…
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: What are Fixed and Variable Costs?
A: Fixed cost: Fixed cost refers to those costs which remain the same throughout the production.…
Q: The cost function of producing Q units of good s.t: C(Q) = 4Q² + 16Q + 40 Write down the average…
A: The average cost is the total cost divided by the total quantity C(Q)=4Q^2+16Q+40 AC(Q)=C(Q)/Q…
Q: What are Sunk Costs?
A: A sunk cost refers to money that has been spent already and which is unable to recovered. In other…
Q: What is the Difference between Fixed Costs, Variable Costs, and Marginal Costs?
A: Fixed cost: Fixed costs are those costs that remain fixed for every unit of output produced. It does…
Q: Are fixed costs also sunk costs? Explain.
A: Cost of production is referred to the total cost that a firm or business incurs during the…
Q: Would you consider an interest payment on a loan to a firm an explicit or implicit cost?
A: A producer faces two types of the cost when computing accounting profit and economic profit. These…
Q: The cost function of producing Q units of good: C(Q) = 4Q2 + 16Q + 40 Write down the average cost…
A: Given cost function: C(Q) = 4Q2 + 16Q + 40 Marginal cost = C'(Q) Average cost = C(Q)Q
Q: The cost function of producing Q units of good: C(Q) = 4Q2 + 16Q + 40 Write down the average cost…
A: Total cost: ‘total cost’ is the amount that includes all the expenses that are paid to produce a…
Q: The cost function of producing Q units of good: C(Q) = 4Q2 + 16Q + 40 Write down the average cost…
A: Cost is the expenditure incurred on inputs to produce given output. Total Cost (TC) consists of…
Q: Pick up the element of the cost from the following: Select one: a. direct material b. direct labor…
A: There are various types of costs that are incurred during production process.
Q: Can you think of a cost function, so that the marginal cost at any x is exactly equal to the cost of…
A: Marginal cost is cost of producing one additional unit. Cost function , total cost for producing x…
Q: fisherman has a fixed cost of Rs.10 (his rod). The variable cost of his time is Rs.5 per hour. Graph…
A: total cost = total fixed cost + total variable cost
Q: The following equation represents the cost structure of a firm: C= 20 + 4q. The marginal cost of…
A: Answer: Given, Cost function: C=20+4q Marginal cost: it refers to the addition to the total cost…
Q: What is the marginal cost for this product?
A: A cost function refers to the formula that is used to predict the cost that the firm will incur at a…
Q: When the marginal product of labor is increasing marginal cost is decreasing constant increasing at…
A: The marginal cost is the cost of producing an additional one unit of output. Marginal products of…
Q: Consider a company that has fixed costs of $6,700 and a marginal cost of $26 per item. What is…
A: Click to see the answer
Q: Which type of cost does depend on a firm's output? 1.marginal cost 2.total cost 3.variable cost…
A: Total Cost: The sum of variable costs and fixed cost is termed as the total cost. Total Cost =…
Q: Among the following, what is the implicit cost to a firm a) Cost of labor b) Payrolls c) Mortgage…
A: Implicit cost are cost of those input which are owned by producer of good . It does not involve…
Q: our cost of production is given by
A: Price of a watch is $100 The marginal cost of production, MC(q), is 4q Since this is a…
Q: if a firm hire workers at $3 week , labour is 1 and output is 6 what is the fixed cost, variable…
A: Wages (W) is given as $3.Labor (L) is 1.Output (Q) is 6 units.
