A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in fixed costs and S85,000 in total costs every year. What is the average variable cost? Selected Answer: e. $7 Answers: a. S17 b. $24 c. $27 d. $10 e. $7

Q: Define different types of costs. Explain Fixed and Variable costs with the help of examples.

A: Types of cost in short run Fixed Costs (FC) It is the cost of fixed factors.The costs which don’t…

Q: 2.7 The concept of economies of scale refers to lower per- unit production costs at higher levels of…

A: Adam Smith is considered the father of economics. He was the first individual to notice that as long…

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: nswer the question on the basis of the following cost data. Output Total Cost 0 $ 50 1 602 68 3 734…

A: The objective of the question is to calculate the average variable cost (AVC) of producing 4 units…

Q: Referring to the cost table above, what is the average total cost if quantity produced equals 300…

A: Total cost of a firm is the cost incurred by the firm by producing a certain amount of output. The…

Q: Table: Cakes Number of mixers 1 2 01 Fixed Costs 2 $1,000 1,500 2,500 Use Table: Cakes. Pat is…

A: Number of Cake Fixed Cost AVC 1 1000 10 2 1500 7 3 2500 4

Q: What are the fixed and variable cost?

A: Fixed costs are that cost which remains same and incur even when there is no production.  Variable…

Q: In this table, the average cost of producing 300 units of output is: a b IPCSB.13 с d Selected…

A: In economics, average cost or unit cost is equivalent to total cost (TC) divided by the quantity of…

Q: Which of the following is true of the relationship between Average Cost and Marginal Cost Select…

A: Average Cost refers to the per-unit cost of production, it means both fixed and variable costs are…

Q: 2.7 The concept of economies of scale refers to lower per- unit production costs at higher levels of…

A: The economies of scale is situation when producing more quantity of goods , the unit cost of…

Q: For each term, explain the definition or calculation, and explain this concept to someone who is…

A: Cost of production is the total cost that a firm or a business incurs for the production of goods…

Q: An auto repair shop faces the following weekly costs: rent, $600; labor, $500 per worker; parts and…

A: Firms invest in new capital assets such as equipment, machinery, and technology to increase the…

Q: out the following cost chart. Round to the nearest tenth.

A: Every production unit incurs certain amount of costs for production. They have to buy raw materials,…

Q: d. What is the average variable cost of cleaning seven classrooms? e. What is the marginal cost of…

A: Total cost = Total fixed cost + Total variable cost Total fixed cost is those cost which are not…

Q: In this table, the fixed cost of production is:

A: Costs of production, which comprise expenses of many kinds, are incurred during the production of…

Q: Your cousin Vinnie owns a painting company with fixed costs of $200 and thefollowing schedule for…

A: Cost is defined as an expenditure that is incurred in the production of a product or service or to…

Q: Refer to the information provided in Table below to answer the question that follow. Number of…

A: The sum of all the variable costs incurred by a business in the production of goods or services is…

Q: Output TFC TVC TC MC ATC A 25 25 ------ ---- -- В 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E…

A: Answer to the question is as follows :