A firm operates in the short run with total fixed costs of $8750 and total variable costs related to the quantity of output it produces as below. Answer the 2 questions below with this information: 1. Caculate average variable cost when output is 9 units.   2. What is the margina clst of the 11th unit of output.

Q: Calculate the fixed costs using the following information: :sales $234,760 :variable rate 0.36 :loss…

A: This question asked us to calculate the fixed costs. Fixed costs are a component of total costs that…

Q: Consider a company whose long run total cost function is TC= 200q -20q^2 +q^3 and whose marginal…

A: MC cuts intersect ATC at its minimum point.  So, at MC = ATC we get the quantity level at which ATC…

Q: nswer the question on the basis of the following cost data. Average Fixed Average Variable Output…

A: The firms operating in a market incur two types of costs, fixed costs, and variable costs. Fixed…

Q: When Yennefer produces 68 spells her total cost is $4,530 and her average variable cost is $23. What…

A: Answer: Given, Total cost (at Q=68) = $4,530 Average variable cost= $23 Fixed cost=Total cost-Total…

Q: QUESTION 2 The table below gives the short run production function for the firm, Jack's Moving…

A: By looking at the table, we want to input the correct amounts under Total Fixed Cost (TFC), Total…

Q: 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles.…

A: As per the question, the short run is the period where the firm would not be able to adjust with…

Q: The figure to the right illustrates the long-run average cost curve for a company that makes motors…

A: Economies of scale:When the firm is efficient by increasing the supply and production and reducing…

Q: Consider the following cost information for a pizzeria: a. What is the pizzeria’s fixed cost?b.…

A: Meaning of Cost: Cost refers to the situation under which a firm occurs various expenses during the…

Q: Figure 13-9 The figure below depicts average total cost functions for a firm that produces…

A: The entire cost of manufacturing divided by the total number of units produced yields the average…

Q: are likely a fixed cost of a firm. O The payments for supplies O Travel expenses to meet with…

A: We have to find fixed cost of a firm.

Q: Suppose a firm is producing 1,000 units of output. Its average fixed costs are $100. Its average…

A:

Q: Gooey Bites sells snack packs for $3 per pack. Variable expenses involved in producing snack packs…

A: The total cost function is the aggregate of all fixed and variable costs incurred in the process of…

Q: g) What will be the firm’s total fixed costs?

A: Fixed cost is that component of total cost that is independent of the output level.

Q: A firm has the following total revenue and total cost schedules: TR = $2Q. TC = $5,500 + $1.3Q.…

A: Given:- TR=$2Q TC=$5500+$1.3Q To calculate:- Break even output level and profit at 8600 unit sale=?…

Q: Consider the table below showing the costs for a firm. Quantity Fixed Cost Variable Cost Total Cost…

A: Total cost is the sum of fixed and variable cost. Fixed cost remains same at all level of output.…

Q: Complete the following table of short-run fixed costs. (Enter your responses rounded to two decimal…

A: Total cost is the sum of total fixed cost and total variable cost.  Fixed cost are the cost that…

Q: PL Neil's Nails has this short run total cost equation: TC = Q? + 10 Derive the other six cost…

A: Given  Cost function C= Q2+10       ... (1)

Q: construct the cost schedule for a firm operating in the short run  b) Graph the average variable…

A: At zero level of quantity, total cost and total fixed cost are equal, and total variable cost is…

Q: Refer to the below table and information. The fixed cost of the firm is $500. The firm's total…

A: Marginal cost refers to the cost of producing one more unit of a good by the firm. It can be…

Q: The figure below depicts average total cost functions for a firm that produces automobiles. Average…

A: The average total cost (ATC) function in economics represents the average cost per unit of output…

Q: 7. A firm produces 10 units of output, its total costs are OMR 2250 and average fixed cc

A: Units of Output = 10 units Average Fixed cost = 125 Total cost = 2250 Total variable cost = ?

Q: Problem 9: Given below is the cost schedule of a firm. Its average fixed cost is 20 when it produces…

A:

Q: Determine if the statements and expressions regarding costs are true or false. True False Average…

A: We can re-create the table correctly as follows.

Q: Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the…

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