Microeconomics For Today (MindTap Course List)
9th Edition
ISBN: 9781305507111
Author: Irvin B. Tucker
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 8, Problem 12SQ
To determine
For what the total revenue at a price $10 pays for.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Designated cost incurred by the short-run firm.
Select one:
a. fixed cost
b. total cost
c. variable cost
d. average cost
1 Average fixed cost equals
a. Average total cost minus average variable cost
b. Total variable cost divided by the level of output
c. Both A) and B)
d. Neither A) nor B)
Which of these will have lower values as the quantity produced increases?
a.
Fixed cost per unit
b.
Total variable cost
c.
Fixed cost
d.
Variable cost
Chapter 8 Solutions
Microeconomics For Today (MindTap Course List)
Ch. 8.5 - Prob. 1YTECh. 8.5 - Prob. 2YTECh. 8 - Prob. 1SQPCh. 8 - Prob. 2SQPCh. 8 - Prob. 3SQPCh. 8 - Prob. 4SQPCh. 8 - Prob. 5SQPCh. 8 - Prob. 6SQPCh. 8 - Prob. 7SQPCh. 8 - Prob. 8SQP
Ch. 8 - Prob. 9SQPCh. 8 - Prob. 10SQPCh. 8 - Prob. 11SQPCh. 8 - Prob. 12SQPCh. 8 - Prob. 1SQCh. 8 - Prob. 2SQCh. 8 - Prob. 3SQCh. 8 - Prob. 4SQCh. 8 - Prob. 5SQCh. 8 - Prob. 6SQCh. 8 - Prob. 7SQCh. 8 - Prob. 8SQCh. 8 - Prob. 9SQCh. 8 - Prob. 10SQCh. 8 - Prob. 11SQCh. 8 - Prob. 12SQCh. 8 - Prob. 13SQCh. 8 - Prob. 14SQCh. 8 - Prob. 15SQCh. 8 - Prob. 16SQCh. 8 - Prob. 17SQCh. 8 - Prob. 18SQCh. 8 - Prob. 19SQCh. 8 - Prob. 20SQ
Knowledge Booster
Similar questions
- When output increases from 20 to 30 units the total cost increases from $500 to $600. Assuming the fixed cost is $200, which of the following is true? a. Average total cost falls b. The production cost per unit is increasing c. Average fixed costs rise d. Marginal cost is equal to fixed costarrow_forwardThe Towson Table Company has fixed costs of $5,000 per month. Variable cost at the current level of output of 100 tables per month is $10,000. Which of the following is true for the company? A. Average cost of production is $150. Average cost of production is $100. C. Average fixed cost of production is $150. Average variable cost of production is $150. B. D.arrow_forwardIn the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of $9,200, then in this output range there are Select one: a. economies of scale b. increasing marginal returns c. diminishing marginal returns d. decreasing marginal costs e. diseconomies of scalearrow_forward
- Which of the following costs will not change as output changes? 1. A. marginal cost 2 B. total variable cost 3. C. average variable cost 4. D. total fixed costarrow_forwardq4- Total cost increases from $500 to $600 when output increases from 20 to 30 units. Fixed costs are $200. Which of the following is true? Select one: a. The production cost per unit is increasing b. Average fixed costs rise c. Marginal cost is equal to fixed cost d. Average total cost fallsarrow_forwardA firm is producing 20 units with an average total cost of $25 and a marginal cost of$15. If it were to increase production to 21 units, which of the following must occur?a. Marginal cost would decrease.b. Marginal cost would increase.c. Average total cost would decrease.d. Average total cost would increasesarrow_forward
- Question 6 The table below describes the cost functions for a food manufacturer. Total Fixed Variable Total output Cost Avg. Total Avg. Fixed Avg. Variable Marginal Cost Cost Cost Cost Cost Cost 100 1 90 2 170 3 340 4 100 85 a. Fill in the blanks in the table. b. Identify the level of output at which this firm reaches its efficient scale and explain how you reach that conclusion.arrow_forwardIf a firm is currently producing zero output, total costs equals A. average variable costs. B. marginal costs. C. zero. D. total variable costs. E. total fixed costs.arrow_forwardA business incurs the following costs per unit: labor $125/unit, materials $45/unit, and rent $250,000/month. If the firm produces 1,000,000 units a month, calculate the following:1. Total variable costs2. Total fixed costs3. Total costsarrow_forward
- Please answer all questions thank you. 1. When ONLY Total Costs (TC) are known, explain how to calculate each of the following: a. Fixed costs (FC) b. Variable costs (VC) c. Average variable costs (AVC) d. Average total costs (ATC) e. Average fixed costs (AFC) f. Marginal costs (MC)arrow_forwardCarolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information? A. total cost B. average fixed cost C. fixed cost D. variable cost E. Carolyn can determine all of the above costs given the information providedarrow_forward#6 Multiple choice For each size plant a manufacturer could build, there is a different A. long run marginal cost curve B. long run average variable cost curve C. long run average fixed cost curve D. short run average total cost curve E. long run average total cost curvearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning