With the following data: Quantity=2,000 Variable costs= $2,000 Fixed costs= $10,000 Price= $1 what is the: Total cost= Total revenue= Profit= Marginal Costs=

Q: Which of the following is true in the short run at the output level where average total cost is at…

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

Q: Use the table below to answer the following question. Units of Output Total Fixed Cost Total…

A: Marginal cost is the change in total cost due to per unit change in production. MC cuts AC curve and…

Q: Suppose the total cost function of a firm is given as: TC = 720 - 45Q + 20². Determine the average…

A: Total cost of production is the summation of fixed cost and variable cost . It is the monetary value…

Q: Draw an example of the Total Fixed Cost, Total Variable Cost, and Total Cost of a company whose…

A: Total Cost: The term total cost refers to the sum of all the costs that are used in the production…

Q: Based on the above information, fill in the following COST TABLE for Green Berry Farms Berry…

A: Formula: Total cost=Total fixed cost+Total variable costTotal variable cost=Quantity of farmworkers…

Q: Which of the following is true in the short run at the output level where average total cost is at…

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

Q: Explain the difference between fixed costs, sunk costs and variable costs. Provide an example that…

A: The total cost refers to the market value of inputs used by the firm in the production of goods and…

Q: People often believe that large firms in an industry have cost advantages over small firms in the…

A: Individuals generally feel that big businesses have economic benefits in a sector over smaller…

Q: In a furniture market, if a furniture company is analyzing the short run total costs, one of the…

A: Here, it is given that a firm in the furniture market is analyzing its short-run total cost.…

Q: The cost structure of a manufacturer of microchips is described in the table shown below. The firm's…

A: Total cost is the cost that includes both variable costs and variable costs of a company.

Q: Quantity (boxes of cakes) Total variable cost (dollars) 0 0 1 20 2 35 3 50 4 75 5 110 6 160 The…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is independent of quantity.…

Q: Consider the following hypothetical firm that is normally producing 200 units of the product per…

A: The term "cost of production" refers to all the costs that are involved when a company offers a…

Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis. There…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: Where Q = quantity, TC = total cost, TFC = total fixed cost, and TVC = total variable cost; average…

A: The average variable cost is the total variable cost per unit of output. The total variable cost is…

Q: Complete the following table of various types of cost for a firm in the short run. Assume that Total…

A: The expenses that are incurred for carrying out day-to-day transactions are known as costs. There…

Q: List and explain which of the following is a fixed cost or a variable cost for  Caribbean Airlines.…

A: Total fixed costs are the total obligations of the firm per time period for all fixed inputs.  Total…

Q: Max​ Shreck, an​ accountant, quit his​ $80,000-a-year job and bought an existing tattoo parlor from…

A: a). MC of operating the tattoo parlor means the additional cost occurring when one more unit of…

Q: An economist estimated that the cost function of a single-product firm is:…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: With appropriate examples, distinguish between (i) short run and long run (ii) fixed cost and…

A: The most important aspect in the business firms is the time period and the production amount as well…

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: Consider the following hypothetical firm that is normally producing 200 units of the product per…

A: Variable costs  are costs that extrade because the extent changes. Examples of variable costs are…

Q: A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has…

A: In case of perfect competition there are large number of buyers and sellers. The firms sell…

Q: Which of the following statements are true according to the previous graph? Check all that apply.…

A: Total cost is the sum of all costs incurred in the production process. The total cost can be divided…

Q: Answer the following: ○ a. If TVC 5 $80 and AVC 5 4, then what does quantity (Q) equal? ■   ○ b. If…

A: Total cost is the total expenditure dome by the producer in the production process. It includes both…

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: Suppose that you and your roommate have started a Doughnut delivery service on campus. List some of…

A: Total Fixed Cost (TFC) : It refers to that part of the total cost that does not depend on output. In…

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: The gap that exists in a graph between total costs and fixed costs represents the variable costs of…

A: Total cost is the sum of variable and fixed costs. TC = TVC + TFC

Q: Month (m): 4 Day (d): 1 Use the two numbers…

A: Fixed cost is that cost which are not depend on the quantity. It's remains same at any output level.…

Q: The table below represents incomplete information on the short-run production costs for a firm,…

A: Cost refers to the monetary payment made by a business in order to produce any good or service. It…

Q: Which of the following statements is a reflection of the fact that the average fixed cost falls as…

A: Total cost (TC) is the sum of fixed cost (FC) and variable cost (VC). i.e., TC = FC + VC…

Q: The difference between economic profit and accounting profit is that economic profit is calculated…

A: Economic profit is reffered as the total revenue of the firm (from sales) minus the costs of all…

Q: The publisher of a new book figures fixed costs at $92,000 and variable costs at $2.10 for each book…

A: At the breakeven level of production, the firm will be exactly covering its total cost with the…

Q: Suppose that the cost function of q is given by: C(q)=16+4q+q^2 (a) Find the fixed and variable…

A: The cost function is given as:C(q) = q2 + 4q + 16

Q: Which of the following is correct if the firm described in Figure 7-4 decides to produce nothing?…

A: There are certain fixed costs that the firm has to incur even at 0 production level. Those costs are…

Q: Use the table below to answer the following question. Units Total Fixed Cost Total Variable of…

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total fixed cost…

Q: Showing your analytical work clearly in a step by step manner is a must. Otherwise points will be…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: The cost structure of a manufacturer of microchips is described in the table shown below. The firm's…

A: So first need to find TVC by subtracting TFC from TC then find AVC and AFC with the TVC and TFC .…

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: The cost structure of a manufacturer of microchips is described in the table in the next column. The…

A: Average total cost:Average total cost can be calculated by using the following formula:

Q: The cost structure of a manufacturer of microchips is described in the table shown below.   The​…

A:

Q: A profit-maximizing firm in a competitive market is currently producing 90 units of output. It has…

A: The following information is given: Output = 90 units, Average revenue = 46, Fixed cost = $270,…

Q: Firms are facing a lot of challenges when dealing with their costs of production. Analyze a fixed…

A: Fixed cost refers to the cost of production that the firm has to incur irrespective of output. This…

Q: The table below shows the weekly cost of producing cowboy hats. Complete the table by filling in the…

A: fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: The additional cost of producing one more unit of output is called Variable cost. b. Total cost. C.…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Marginal cost equals None of the above are correct. total cost divided by quantity of output…

A: Marginal cost: The cost that is incurred on the production of an additional unit of output is…

Q: Marginal cost _1. The additional cost from an additional unit of output produced. Production…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…