Your cousin Vinnie owns a painting company withfixed costs of $200 and the following schedule forvariable costs:Quantity ofHousesPainted perMonth 1 2 3 4 5 6 7VariableCosts$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost, average variable cost, andaverage total cost for each quantity. What is the efficient scale of the painting company?

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A: Total cost is a sum of fixed cost and variable cost.

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A: According to the question MC = 25 + 30Q – 9Q^2 and FC = 55

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A:

Q: Question 1 Refer to the information provided in Table 8.2 below to answer the question(s) that…

A: TVC = TC- TFC TVC = AVC*Q TC = ATC*Q TFC = AFC*Q Quantity TVC MC AVC TFC TC AFC ATC' 0 0…

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Q: Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule…

A: Given: Quantity Variable cost 1 10 2 20 3 40 4 80 5 160 6 30 7 640

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

Q: Your cousin Vinnie owns a painting company with fixed costs of $200 and thefollowing schedule for…

A: Cost is defined as an expenditure that is incurred in the production of a product or service or to…

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A: Marginal cost: It is the extra cost of producing an extra unit product.

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A: Variable costs vary based on the amount of output produced. Variable costs may include labor,…

Q: 9. At an output level of50 units per day a firm has average total costs of $60 and averagevariable…

A: here we can find the total fixed cost as follow

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A: Costs are the expenses firms incur in the production of goods and services.

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A: As there is an increase in the level of output, there comes a rise in the level of marginal cost…