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What occurs when the cost of producing a range of products is lower than the cost of producing each product individually
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- Most manufacturing companies divide manufacturing costs into which three broad categories?Evaluate the factors affecting firm behavior, such as production and costsJenna knits scarves and then sells them on Etsy, an online marketplace. Let C(x) =4x+20 represent the cost C in dollars to produce 1 to 6 scarves. A.) Create a table to show the relationship between the number of scarves x and the cost C. B.) What are the domain and range of C? C.) What is the meaning of C(3)? D.) What is the meaning of the solution to the equation C(x) =40?
- A restaurant should not stay open for an additional hour if it's _exceeds_ a) average benefit; average cost b) average cost; average benefit c) marginal benefit; marginal cost d) marginal cost; marginal benefitWrite down the problem the car manufacturer solves to find the levels of 'K' and 'L' that minimize cost. What two equations are used to solve it?What is the cost of producing an additional car when 50 cars are being produced?
- Only typed answer What is the price is equal to the minimum average cost of ?Allocative efficiency means that a the marginal benefit of the product exceeds its marginal cost. b the product is sold at a price equal to the average cost of producing it. c society's scarce resources are used to produce products that align with consumer preferences. d the product is produced at the lowest unit-cost possible.If average cost is incresing as output expands, a marginal cost equals average cost b marginal cost exceeds average cost c marginal cost is less than average cost d not enough information
- Angie's Bake Shop makes birthday chocolate chip cookies that cost $2 each. Angie expects that 10% of the cookies will crack and be discarded. Angie wants 60% markup on cost and produces 100 cookies. Assume that Angie can sell the cracked cookies for $1.10 each. What should Angie price each cookie?A furniture producer sells a chair for $95. The marginal cost to produce that chair is $95. The furniture producer is operating at ______. Group of answer choices distiributive efficiency productive efficiency allocative efficiency consumer's efficiencyYou own a company that produces helmets. You are currently selling 100 helmets per week. Your average total cost of producing these helmets is $100. Recall ATC=TC/Q. A customer comes to your store and says he needs a helmet and will pay you $95 for it. Thus you need to produce the 101st helmet if you make the sale. Your average total cost if you produce 101 helmets is $99.95. Do you sell the helmet to the customer for $95?