When a firm produces 50,000 units of output. its total cost equals OMR 65 million. When it increases its production to 70,000 units of output, its total cost increases to OMR 9.4 million. Within this range. the marginal cost of an additional unit of output is: a OMR 41.43 b. OMR 134 29. C OMR 135. O OMR 145.

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: The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential…

A: The economic cost is the sum of all losses of any goods that have a monetary value attached to them…

Q: (a) Prepare (i) marginal cost and (ii) average total cost schedules for the firm. (b) What is the…

A: Cost theory includes calculation of total costs, total fixed costs and total variable costs. In this…

Q: Output   Total Cost 0 15 1 25 2 33 3 40 4 48 5 58 6 70 Table 8.5 Refer to Table 8.5. The total…

A: Variable Cost varies with the units of Output. Fixed Cost remains same at all levels of Output.…

Q: Suppose ATC (Q=500) = $300 per unit & ATC(Q=501) = $301 per unit, where Q denotes output level, ATC…

A: GIVEN     Suppose ATC (Q-500) = $300 per unit  ATC(Q=501) = $301 per unit where Q denotes outout…

Q: 2.1 Discuss the relationship that exists amongst the three short-run total cost curves. Motivate…

A: COST CURVES A cost curve in economics can visualize production costs as a function of total output.…

Q: The following is output data for a firm. Assume that the amounts of all non-labour resources are…

A: The law of diminishing returns states that benefits or advantages acquired from something will…

Q: Marginal Product Variable Cost Labor Output Fixed Cost so $5 1. 100 100 $5 $5 2 250 $10 $5 3 350 $15…

A: First, we will calculate Total Cost by adding Fixed Cost+Variable Cost. Then, we can calculate…

Q: ii) Listed in the table is the short-run total cost for Firm C. Output 1 2 3 4 Cost 20 39 57 74 90…

A: The diminishing return means the marginal cost should increase as the output increases.

Q: If the fixed cost of Alex’s engraving business is $100, and the variable cost of each engraving job…

A: The total cost refers to the sum of the fixed costs of production and the variable costs of…

Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…

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

Q: 17. A firm's total cost is $10,957 when it produces a quantity of 50. Rounded to the nearest dollar,…

A: here we find the average total cost and choose the correct option which are as follow-

Q: Practice questions 1. Given a firm's total cost function as = 12 + 60Q- 15Q² +Q³ Suppose that the…

A: The firm has to incur the cost while producing goods and services. Costs are divided into many parts…

Q: Output Total Cost 0 24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The…

A: marginal cost measures the additional cost incurred in order to produce an additional unit of…

Q: $/Q MC $30 ATC AVC 20 D 10 MR 50 100| 150 200 117 222

A: Given:ATC=$20Quantity=117

Q: 1 2. Short-run versus long-run costs and expenditur Aa Aa The following isoquants depict the…

A: In the long run, all the factors of production are variable whereas, in the short run, at least one…

Q: The marginal cost for a manufacturer of cherries is MC(q) = 0.06q³ + 0.5q + 50 per ecaton-cherry.…

A: Marginal Cost(MC) is the change in the total cost(TC) due to very small changes in the quantity(q)…

Q: A marginal profit curve equation is : MP= −2Q^2 + 160Q + 2145. You are required to determine the…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Discuss the relationship that exists amongst the three short-run total cost curves. Motivate your…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…

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: 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its…

A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

Q: Marc Tech produces q units of smartwatches and their short-run total cost is given by STC = 3q2 -…

A: ATC=TC/Q

Q: A firm producing the goods by using machinery costing $100 and additional cost of producing…

A: Here, machinery is the fixed cost = $100 variable cost = $2 Number of units = 5

Q: The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential…

A: Explicit costs are the actual out of pocket expenditures of a firm while implicit costs are the…

Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…

A: Total cost = Fixed cost + Variable cost Marginal cost = Change in total cost / Change in total…

Q: The table below indicates that the total variable cost of producing 150 units of the output is 200.…

A:

Q: widget factory roduction. worker is $200 per day. The cost of each machine is $400 per day,…

A:

Q: Q)Suppose that a firm has only one variable input, labor, and firm output is zero when labor is…

A: PLEASE FIND THE ANSWER BELOW.

Q: 14. The research department of Acme, Inc. has determined the marginal cost function for one…

A: The marginal cost of production refers to the incremental cost incurred in the production of an…

Q: Assume that an entrepreneur’s short-run total cost function is C = q^3 − 10q^2 + 17q + 66. Calculate…

A:

Q: The data in the table is for a firm in which labour is the only. variable cost and each unit of…

A: Formulas used : TP = AP × Q  MP = TPn - TP n-1  AVC = TVC / Q MC = TC n - TC n-1  Also this is given…

Q: A firm has the following cost curves:   Q MC VC FC TC AVC ATC 0 --- 0 30 30 --- --- 112 2 22 26…

A: Fixed cost is the cost that remains same at all levels of output. Variable cost is the cost that…

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: 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.

Q: A television production firm is able to produce TVs according to the short-run production table…

A: Marginal Product is the change in the total output with the production of one more additional unit…

Q: Emco Company has an assembly line of fixed size A. Total hourly output is a function of the number…

A: a. The marginal productivity of labor is the additional productivity made by an additional unit of…

Q: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: Average cost is the per unit cost of production

Q: Suppose a firm has a short-run cost function: C(9) = 1000 + 200g Question 3. 5q + 0.5g. What are the…

A: Variable costs are any expenses that change based on how much a company produces and sells. This…

Q: Assume a firm's short run total cost is STC = cSR = 10q + 10,/q + 10. Compute its marginal cost and…

A: Given  Firm's short-run cost function STC(q)=10q+10q+10             ... (1)

Q: workers) Quantity of floral arrangements 0 0 1 110 2 200 3 270 4 300 5 320 6 320…

A: Marginal product is the additional product when one more unit of labor is employed.  Marginal Cost…

Q: Total cost of the firm rely fully on the total fixed cost of the firm. True/False

A: Costs are the expenses that a firm incurs in the production of the goods and services. It is…

Q: TC, = 20 + 50 TC, = 25 + 3Q; %3D %3D TC, = 15+ 40 %3! TC, = 20 +60 TC is in hundreds of dollars, and…

A: 1. Total cost is the sum of all costs incurred by a firm for producing some output. 2. where the…

Q: Emco Company has an assembly line of fixed size A. Total output is a function of the number of…

A: Given: To Find: The marginal productivity of labor, the average productivity of labor, and the…

Q: runction 125 q? 4. 16 A(q) where q is the firm's output. (iv) Write an equation for the total cost…

A: Part: 1 The total cost(TC) function is the cost of producing total output. The formula for TC is…

Q: At Emory's Pens and Pencils when they produce 50 pens their total cost is $80. Emory's marginal cost…

A: Average Total Cost (ATC) can be calculated by dividing the Total Cost (TC) by Quantity (Q).

Q: 10 If a firm's short – run total cost function is TC = 20 + 10q? then its marginal cost at an output…

A: Here, short-run total cost function is given as: TC=20+10q2 To find: Marginal cost at the output of…

Q: If short run total costs are 2q? + 50q + 50, and output is 15, average variable costs will be a. 80.…

A: The markets are the place where the buyers or consumers of various goods and services tend to meet…