Suppose Honda’s total cost of producing 4 cars is $225,000 and its total cost of producing 5 cars is $250,000. What is the average total cost of producing 5 cars? What is the marginal cost of the fifth car? •

Q: Bessie wants to calculate the accounting and economic profits on her cattle farm in Nebraska. She…

A: a. Accounting profit = revenue - explicit cost  = 140000 - 130000 = 10000

Q: Measures of Cost for Charlie's Chocolate Factory Quantity (Boxes of Chocolates) Variable Costs Total…

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

Q: Competitive Firm Total Total Output Fixed Variable Total (Q) Costs Costs Costs $100.00 $0.00 $100.00…

A: please find the explained answer below.

Q: Lisa quit her $40,000- per- year job to start her own economics consulting firm. At the end of her…

A: Explicit cost is the actual monetary spending. Implicit cost is the opportunity cost of doing a…

Q: Jaskier can only produce output in integer units. His Fixed cost is $200 and his Variable Cost of…

A: ATC is the average total cost which is per unit of output.  ATC=TCQ Fixed Cost is given as $200.

Q: FIGURE 7-2 $100 90 80 70 60 50 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure…

A: please find the answer below.

Q: A firm experiences falling average costs over the range of production q=1,000 to q=10,000. Given…

A: Diseconomies of scale means that the Average cost curve is upward sloping as we increases the…

Q: 5. Suppose that labor cost P350.00 per day and rental price of capital cost is P2,000.00 per unit.…

A:

Q: Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $175,000 in total…

A: Economic profit = Revenue - Explicit cost - Alternate income given up (Implicit cost) = 175,000 -…

Q: What are the kinds of cost which firm face in short run. Explain theoretically and graphically the…

A: Short run refers to the time period where some of the factors of production remain same throughout…

Q: firm's fixed cost is $ What is each firm's variable cost? O 50 + 9 -/1

A: Total cost : Total cost in economics is meant to be the summation of total fixed cost and variable…

Q: When a firm increases its output by one unit, its average total cost (AC) decreased, this implies…

A: The cost that depicts the total cost of a product or service that is being divided by the number of…

Q: Situation 21-1 Diane's Donuts will begin selling donuts next week. Diane figures that the average…

A: Given: Average variable cost=$0.30 Amount paid for machinery=$20000

Q: Total Total Cost Output 1,000 2,000 2,800 3. 3,500 4 4,000 5. 4,500 5,200 7 6,000 8 7,000 Refer to…

A: MC= (TCn -TCn-1)/Qn-Qn-1AC = TC/Q.

Q: 28 - : Total variable cost of firm X is 100 and total fixed cost is 20 TL. The firm produces 40…

A: The process of production uses various inputs and converts them into finished goods using production…

Q: Vipsana's Gyros House sells gyros. She incurs a fixed cost of $120 per day. The cost of ingredients…

A: Given information, Fixed cost: $120 per day Variable cost: $2 Cost per worker per day: $60

Q: What are the firm's average total costs at an output of 10 pizzas? $12 O $100 $10 $120

A: Average total cost is the per cost of the goods and services so here we can choose the correct…

Q: Suppose Honda's total cost of producing 4cars is $225000and its total cost of producing 5cars is…

A: Given, Total cost of producing 4 cars = $225000 Total cost of producing 5 cars = $ 250000

Q: Question 5 If a firm earns an accounting profit of $20 million and has implicit costs of $6 million,…

A:

Q: Corinne is offered a job with a salary of $70,000, which she turns down to start her own business.…

A: There are two types of profit: Economic Profit Accounting Profit The economic profit can be…

Q: hey i was doing my homework and i couldnt figure out this one. please help

A: The average total cost is equated at an equal average fixed cost in addition to the average variable…

Q: Table 1A: Costs and Total Production for a Competitive Firm Total Total Total Total Marginal Average…

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

Q: Situation 21-1 Diane's Donuts will begin selling donuts next week. Diane figures that the average…

A: Total cost = total fixed cost + total variable cost

Q: If the total quantity is 100, the average fixed cost is 10, then we can say that the total fixed…

A: Fixed costs are the costs that do not depend on the output, that is, these are independent of output…

Q: - There are 2 blankgraphing papers that you may use to draw the curves required. The scales were…

A: GIven, Total production of corn is 300 sacks there are 50kg corns /sack Total production of corn =…

Q: QUESTION 10 DeShawn's Detailing is a service that details cars at the customers' homes or places of…

A: DeShawn's Detailing is a service that details cars at the customers' homes or places of work.…

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

A: here we find the whether the given statement is true or false as follow;

Q: Situation 21-1 Diane's Donuts will begin selling donuts next week. Diane figures that the average…

A: Total Cost = Total Variable Cost + Total Fixed Cost Total Variable Cost = Average Variable Cost x…

Q: App9: Consider the following table of long-run total costs for three different firms: Quantity 1 2 3…

A: Economies of scale refers to a situation when the average total cost decreases as output increases…

Q: Which of the following is why the total cost (TC) curve does not start at the origin?     a) TC…

A: Total cost curve is the sum total of fixed cost and variable cost.

Q: Output Average Cost ( at that output level) Marginal Cost of that Car 9,999 ? $ 12,000 10,000 $…

A: The extra cost incurred in the development of one more unit of a good or service is known as…

Q: 2.4 Q7 In the theory of the firm, economist consider the total cost to be a function of the output…

A: According to the mathematical definition of the function, it is a relation which associates each…

Q: The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If…

A: Answer: The following formulas have been used: Total cost=Fixed cost+Variable costAverage variable…

Q: 1. Supposed that a firm's fixed cost increase due to a rise in rental payment. What impact will this…

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

Q: that a firm's total weekly costs are as follows: 1. Salaries of hired workers $5,000. 2. Supplies…

A: Costs are the expenses that firms incur during their production activities. Total costs of a firm…

Q: 10: What is the Difference between Fixed Costs, Variable Costs, and Marginal Costs?

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

Q: Q.2      Based on your knowledge of the definition of the various measures of short-run cost,…

A: In short run, a firm incurs two main types of costs fixed costs and variable costs. Fixed cost is…

Q: Gertrude quit her $40,000- per- year job to start her own own consulting firm. She withdrew her…

A: Implicit cost is the next best alternative forgone to start the business Implicit cost = job loss +…

Q: Total Total Average Average Output Fixed Variable Total Variable Total Marginal (Q) Cost Cost Cost…

A: The formula is: ATC=TCQ TC=900 Q=150

Q: Total Total Average Average Fixed Variable Total Variable Total Marginal Output (Q) Cost Cost Cost…

A: Marginal cost is the additional cost incurred with an additional unit produced.

Q: Yummy Gummies, Inc. makes boxes of individually packaged gummies. The company has a cost function…

A: Given:       C(x) =cost function                  C'(100) = $3.50 per box

Q: uantity Price Total Fixed Costs Variale Cost Total Costs Average Variable Costs Average Total Cost…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Q1. Define fixed and variable costs of production. Why do you think bigger firms may have lower…

A: The question has been solved below.

Q: Table Cost.EX2: Costs and Outputs for a Competitive Firm Total Total Output Fixed Variable (Q) Costs…

A: Answer: Introduction, Average total cost (ATC) average total cost refers to the per-unit total cost…

Q: Situation 21-4 Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $200,000…

A: The implicit cost means cost which is not expressed directly. It is also called the opportunity…

Q: uestion 9 of 20 Total Total Average Average Average Variable Total Marginal Variable Output (Q)…

A: