A firm with fixed cost (FC) of $150, average variable cost (AVC) of $2.5 and average total cost (ATC) of $5.5 should be producing an output of 50 units. O True O False

Q: If marginal cost is above average variable cost, then Select one A average variable cost is constant…

A: Marginal Cost (MC) is the change in total cost for an additional unit of output produced. Average…

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: company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: (a) Total cost is the sum of fixed cost and variable cost.  Fixed cost for manufacturing the sink is…

Q: Suppose that the monthly marginal cost for smokejumper harness straps is C'(x) = 3.5x +95 and the…

A: Total cost is the total cost of production, which includes both fixed and variable costs. Marginal…

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: If a store owner increases the size of his store producing more quantities of his product, and…

A:

Q: Calculate Marginal cost when total cost rises from $30 to $70 and the output rises 2 to 3 units

A: We are given that the total cost has increased from $30 to $70 TC1 = $30  TC2 = $70 Output has also…

Q: What is the price?  to make it breakeven

A: Average cost is total cost divided by total production while marginal cost is the change in total…

Q: Suppose an artist produces 6 paintings. If fixed costs are $200 and variable costs are $100, then…

A: There are mainly two type of cost , FIXED COST and VARIABLE COST which is used in production ,…

Q: If short run total costs are 2q2 + 50q + 50, and output is 15, average variable costs will be 80.…

A: Given; Total cost; TC=2q2+50q+50 Formula to calculate average variable cost:-…

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: If average cost for Ruby's chocolate production firm is $23 and the output is 1000 units.…

A: The data being presented in the question is:- Average cost for ruby's firm = $23  Output = 1000…

Q: firm X has a total cost of 100 and a total variable cost of 80, what is its total fixed cost?     a)…

A: Fixed cost is independent of output produced.

Q: Is a type of cost which does not vary with the unit of production and will remain constant…

A: Cost refers to the money involved in producing the goods and services by the producers. They include…

Q: Which one of the following would be regarded as a variable cost for a firm?   Select one: a. the…

A: Meaning of Variable Cost: The term variable costs are those cost which changes or fluctuates, as…

Q: at the production function of a chip manufacturer is Q-KL-L'. K-200, then 1,245 -10,000

A: Marginal productivity of labor shows the change in output due to employment of an additional unit of…

Q: Marginal cost is equal to the change in average variable cost divided by the change in total output…

A: Total cost is the sum of fixed cost and variable cost. Variable cost increases with increase in…

Q: For producing 200 chairs, the total fixed cost is R.O 2,000 and total variable cost is R.O 1,500.…

A: Firms incur various types of costs while conducting business operations or undertaking any…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) calculate Total…

A: Total Cost (TC) is the sum of Total Variable Cost (TVC) and the Total Fixed Cost (TFC). Therefore,…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) Calculate Total…

A: Broadly, Total Cost is the summation of Total Fixed Cost and Total Variable Cost. TFC is the fixed…

Q: When Yennefer produces 15 spells her total cost is $4,298 and her average variable cost is $18. What…

A: Total cost = Fixed cost + Variable cost  Variable cost = Average variable cost * Quantity

Q: Average total costs are falling Average total costs are rising Average total costs are minimized O…

A: Average total cost is alluded to as the aggregate of all creation costs partitioned by the total…

Q: Consider the following cost table. For the 7th unit, find the total variable cost and the average…

A: Total cost is the total expenditure done by producer in the production process. There are two types…

Q: Which of the following statements is (are) correct? (x)  In the short run, if a firm produces…

A: Fixed cost is the cost incurred by the producer for the purchase of fixed inputs. These costs do not…

Q: With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50.…

A: Given:  Total Fixed Cost = 400. Average Total Cost = $3 Average Variable Cost = $2.50

Q: Assume a firm has the long run total cost presented in the table below. Output TC $8 $14 $18 4. $20…

A: The total cost of production is defined as the amount in monetary terms a firm incurs when it…

Q: 10. All-Leather is a leather tanning company in Chicago. Its total cost function is C(QA) = 130 +…

A: C(QA)=130+6QA+2QA2

Q: A firm's total cost is $12,000. Its variable cost is $5,500. What is the firm's fixed cost?

A: Correct : Fixed cost= $6500 Fixed cost is the part of total cost that does not depend on output and…

Q: In the graph below, which depicts the relationship between units produced and total cost, the dotted…

A: The measure that depicts expenses being incurred by a business for carrying out its day to day…

Q: You inherited your father's concrete company which typically pours slab foundations for single…

A: Variable costs are costs that change as the volume changes.  Fixed Cost: Fixed costs are expenses…

Q: When Yennefer produces 18 spells her average total cost is $35.69 and her fixed cost is $180. What…

A: Total cost = Fixed cost + Variable cost Total cost = Average total cost * quantity

Q: The Trouser Company has fixed costs of 2,000 per week. In addition, we have some information about…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is constant and does not depend on…

Q: Fill in the missing data using the cost calculations for short run costs

A: Calculate TVC by subtracting TFC from TC. TVC=TC-TFC Calculate MC by subtracting TCn from TC n-1.…

Q: Which of the following are relevant to a firm’s decision to increaseoutput: (a) short-run average…

A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…

Q: If you know that with 8 units of output, average fixed cost is $30 and average variable cost is $80,…

A: Average Fixed cost (AFC) is the fixed cost per unit of output. Average Variable cost(AVC) is the…

Q: Revenue and Cost The total weekly revenue functionfor a certain digital camera is given by R =…

A: Part a) Profit is given as total revenue minus total cost. Profit (P) = 550x - 10000 - 30x - x^2 =…

Q: If a firm decides to produce no output in the short term, which of the following costs will be zero:…

A: The resources (including time, money, and materials) used to produce a good or service are measured…

Q: (6) Which of the following statements best describes firm's cost-minimizing behaviors? a) A firm's…

A: In economics, the concept of cost minimization is based on the concept that firms aim to provide a…