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- Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?What is the difference between a fixed input and a variable input?A firm had sales revenue of 1 million last year. It spent 600,000 on labor, 150,000 on capital and 200,000 on materials. What was the firms accounting profit?
- Save The production function for a product in given by q-100KL mergnal product functione MP100K end MP100 he poe of cp,cs00 per day wnd the priefer, w, in S400 per day, what the minimum cost of producing 10,000 units of oupun The minimum cost of producing t10,000 units of output is Round al intemediate retb deciml placand erter your pone unded te deia psThe manager of a T-shirt stand found that the cost to produce 1O T-shirts is $112.59, white the cost to produce 40 T-shirts is $401.58. Assune the cost Csa linear function of x, the namber ef T-shirts produced. Calculate the marginal cost ot a T-shirt. that s, the change in cost of producing one additional Tshirt, (Rournd to 2 decimai placesThe figure to the right ilustrates the long-nun average cost curve for a company that makes motors Long-un average con Suppose the company produces 18 thousand motors per month. la it expelancing conomies of scale dieconomies of scale, or constant rutums to scale 4000 the company produces 18 thousand motors. then it experiences 24.00 12.00- 4.00 Quanty motors per month in 1.000s) Averape total cost
- Refer to the to graph on the night Which level of output in the graph below represents the minimum efficent scale? OA 1,000 books B. 20.000 books C. 40,000 books $22.00 20.00 18.00 D. 80,000 boks Which sire bookstore is more likely to expenence diseconomies of scale? Long -nun Average cost OA Abookstore seling 1,000 books per month B. Abookstore seling 20,000 books per month OC. Abookstore selling 40,000 books per month 1,.000 20.000 Quantity of books sold per month OD. A bookstore selling 80.000 books per month 40,00,000The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980
