04. In the short run, when the outputof a firm increases, its average fixed000cost:000(a) increases. 001(b) decreases.(c) remains constant.(d first declines and then rises.008

According to the given question In simple words we can say that short run period is a period which…

Answered: 04. In the short run, when the outpu of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Output (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?
3 Guen Producing bole s Calautante the 024 Cost function or afirm "Zhat fC 40142 IS The Predugi) Lotals cCet 0t wits 72 units Determne he 7
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300 250 200 150 100 50 $ TC 30. The minimum Average Variable Cost is (a) $4 (b) $5 (c) $10 (d) $12 TVC TFC 0 Q 0 2 4 6 8 10 12 14 16 18 20 30 25 20 15 10 5 SA $ 0 0 2 4 6 8 10 12 14 16 18 20 MC AC AVC AFC Q
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Based on this graph,Calculate the total cost for 500 pairs of shoes.
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04. In the short run, when the outpu of a firm increases, its average fixec cost: 00 (a) increases. 001 (b) decreases. (c) remains constant. (a first declines and then rises. ,008)