Which of the following is the best example of a variable cost? O annual insurance payments for a warehouse O annual property tax payments for a building O monthly rent payments for a warehouse monthly wage payments for hired labor

Q: The Lawn Ranger, a landscaping company, has total costs of $4,000 and total variable costs of$1,000.…

A: The data presented in the above question is as follows:- Total cost = $4000 Total variable cost =…

Q: If Mark produces five pairs of earrings, his total costs are   a. $370.  b. $360.  c. $320.  d.…

A: Answer- Need to find- If Mark produces five pairs of earrings, his total costs are Given in the…

Q: Someday, if you want to be an economist or to study  more about economic analysis, what platform you…

A: While studying economics, economists have the capability to reduce costs while using different…

Q: Water Works Plumbing Company is a small owner-managed plumbing services company that serves the…

A: Quasi - fixed means that those labor prices that do not change with hours worked however do change…

Q: During the last few days the Superior Company has been running into problems with its computer…

A: Some basic concept of cost theory are  Total cost TC = total fixed cost FC+ variable cost VC.…

Q: 1 Average fixed cost equals a. Average total cost minus average variable cost b. Total variable cost…

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

Q: 12. If average fixed cost is 40'and average variable cost is 80/for a given output, we then know…

A: Average total cost refers to the cost per unit. In other words, the average total cost is the sum of…

Q: QUESTION TWo The costs of operating the canteen at 'Eat a lot Company' for the past three months…

A: (i) and (ii) Month Cost (TC) No. of employee Variable cost (VC) Fixed cost (TC - VC) December…

Q: Is a type of cost which does not vary with the unit of production and will remain constant…

A: Cost refers to the money involved in producing the goods and services by the producers. They include…

Q: A small plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so…

A: Costing is a critical component of running a business. We usually divide the cost of any…

Q: According to Accountants cost of production consist of both explicit and implicit cost ---- a) Yes.…

A: According to Accountants cost of production consist of both explicit and implicit cost. This…

Q: Marginal cost is plotted (as an approximation) halfway between successive units of output. a. True O…

A: Costs represent the expenses that firms incur during their production activities. A firm incurs…

Q: Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B.…

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

Q: (2) Minimize the average cost for the following total cost function (TC) by finding out (a) average…

A: Since you have asked a question with multiple subparts, we will solve the first three subparts for…

Q: A new machine increases fixed cost and may or may not increase ATC as the…

A: The cost of production is the cost incurred in the process of production in the economy by a firm.…

Q: The total cost (in dollars) of manufacturing x auto body frames is C(x) = 80,000 + 900x. (A) Find…

A: (A) The average costs refer to per unit cost of production. It is obtained by dividing total (TC)…

Q: With the table started as indicated below, calculate the cell indicated as an Qx stands for quantity…

A: Given; Price of variable input= $3000/unitPrice of output= $150/unitTFC= $7500

Q: n the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay)…

A: "Since you have asked multiple parts, we will solve only the first part for you. If you have any…

Q: out the following cost chart. Round to the nearest tenth.

A: Every production unit incurs certain amount of costs for production. They have to buy raw materials,…

Q: Given below is a numbered list of cost terms. For the given definition statement. '_____ costs can…

A: The costs and revenue of the firms play an important role in the smooth functioning of the firms.…

Q: Each of Davisson's production managers (annual salary cost, $45,000) can oversee 60,000 machine…

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

Q: referring to the cost table above, what is the total cost if quantity produced equals 100 units? a.…

A: Total cost is the overall cost which incurs in the course of production.

Q: Which of the following does NOT represent a fırm's explicit costs? O the firm's total accounting…

A: Explicit cost is the actual monetary expenditure to run a business Implicit cost is the opportunity…

Q: Determine if the statements and expressions regarding costs are true or false. True False Average…

A: We can re-create the table correctly as follows.

Q: Identify each of the following costs associated with owning an automobile as direct (D) or indirect…

A: The costs involved in the production of a good or service are direct and indirect costs. A direct…

Q: ips is described in the table that follows -m's fixed costs equal $10,000 per day. Ca e average…

A: Computation with the help of following formula, AVC = VC/O ATC = TC/O AFC = FC/O VC = TC-FC…

Q: The following are common examples of variable costs except A All of the above (B) Utilities…

A: The firms have to incur various types of costs to produce the goods and services in the economy. The…

Q: Which of the following cost behavior assumptions is false? (You may select morethan one answer.)a.…

A: The cost behavior assumption “variable cost per unit increases as the activity increases” is a false…

Q: Water Works Plumbing Company is a small owner-managed plumbing services company that serves the…

A: Disclaimer:- Since you asked multipart question we are solving the firs 3 subparts as per guidelines…

Q: variable production cost and the price of a product were both reduced by $1.00 per unit, which of…

A: Variable cost is the cost which keeps on changing with the change in the output level. Variable cost…

Q: mall plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so on)…

A: Break even situation refers to the economic condition where the firm earns zero profit or total…

Q: When the production starts, the value of Total fixed cost is 0 True/False

A: # The value of total cost is given by combining together the fixed costs and the variable costs…

Q: True or false:  a change in fixed costs will change average total cost. a.True b.False

A: The measure that depicts the expenses that are incurred for carrying day-to-day expenses of the…

Q: Suppose that you are starting up a dog-walking service and you know several stay-at-home moms who…

A: The profit is computed by subtracting the total cost from the total revenue of a firm. Total cost is…

Q: "Spreading overhead" refers to O A decrease in the average fixed cost as output rises O An increase…

A: Spreading overhead refers to using an allocation method to distribute the indirect overhead costs…

Q: SRATC or small plant SRATC tor medium plant SRATC for arge plant LRATC S500 Diseconomies of Scale…

A: Costs in the long run are determined by the firm's level of output, factor costs, and the quantities…

Q: Yamaha company sells auto parts. One of auto part has selling price for $110. Yamaha company buys…

A: Given,   Selling price = $110  Variable cost (VC)= $80            Average unit sold = 40 units

Q: Horace Corporation, located in Hamilton, produces steel. When it produces 40 units of steel output,…

A: here we have different type of cost , so calculate and choose the correct option which are as…

Q: While drawing cost curves, the state of technology must be kept constant True/False

A: # Cost curve is drawn taking into use th fixed cost of the firm and the variable cost incurred by…

Q: Al Mardoof Company paid different types of costs for different output levels as shown in the given…

A: From the graph, we can see that the variable cost is depicted by the Green line. The cost is on the…

Q: Which of the following is most likely to be a variable cost for a firm? an annual payment for…

A: Fixed cost does not depend on production whereas variable cost does. Variable cost increases with…

Q: Q.6 To express relationship between the average cost functions, which of the following is true: (a)…

A: # We know well that the total cost function is given by the sum of total fixed cost and total…

Q: Given below is a cost schedule of an automobile company operating in Kota Kinabalu. Total Product…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: If a hospital cafeteria is the activity to receive indirect cost allocation for the year, cost…

A: Indirect cost is the cost of something that is not directly involved in making a particular product…

Q: Which of the following is an explicit cost? O the depreciation of a computer O the cost of hiring a…

A: please find the answer below.

Q: 30. If the total variable cost is 50 and the total cost is 200, then we know that the total fixed…

A: Total cost = Total fixed cost + total variable cost. Using the definition of total cost we have.

Q: Which of these will have lower values as the quantity produced increases? a. Fixed cost per unit b.…

A: Fixed Cost remains fixed at all levels of output. Average Fixed Cost or fixed cost per unit…