Answer the question on the basis of the following cost data:Average AverageFixed VariableOutputCostCost1$50.00 $100.00225.0080.00316.6766.67412.5065.00510.0068.0068.3773.3377.1480.0086.2587.50Refer to the above data. The marginal cost of the fifth unit of output is:$62.$78.$3.$80. Answer the question on the basis of the following cost data:Average AverageFixed VariableOutputCostCost1$50.00 $100.00225.0080.00316.6766.67412.5065.00510.0068.0068.3773.3377.1480.00B6.2587.50Refer to the above data. The total cost of four units of output is:$77.50.$215.$310.$260.Answer the question on the basis of the following cost data:Average AverageFixed VariableOutputCostCost$50.00 $100.00225.0080.00316.6766.67412.5065.0010.0068.0068.3773.3377.1480.006.2587.50Refer to the above data. If the firm closed down in the short run and produced zero units of output, itstotal cost would be:$100.$150.$50.zero.

Total cost (TC): - it is the sum of fixed and variable costs incurred in the production…

Answer the question on the basis of the following cost data: Average Average Fixed Variable Output Cost Cost 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 S 10.00 68.00 6 8.37 73.33 7 7.14 80.00 6.25 87.50 Refer to the above data. The marginal cost of the fifth unit of output is: $62. $78. $3. $80.

Answer the question on the basis of the following cost data: Average Average Fixed Variable Output Cost Cost 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 S 10.00 68.00 6 8.37 73.33 7 7.14 80.00 6.25 87.50 Refer to the above data. The marginal cost of the fifth unit of output is: $62. $78. $3. $80.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Joe quits his computer programming job, where he was earning a salary of $70,000 per year, to start his own computer software business in a building that he owns and was previously renting out for $20,000 per year. In his first year of business he has the following expenses: salary paid to himself, $45,000; rent, $0; and other expenses, $40,000. Find the accounting cost and the economic cost associated with Joe's computer software business. (Enter numeric responses using an integer.) The accounting cost of Joe's business is $ (Enter your response as an integer.) es Get more help Clear all Check answer
how do you know the total variable is 50 when finding the total fixed cost?
Consider the following cost function (C): C= 0.25q3 - 4q? + 75q + F. The equation for average cost (AC) is: AC = |. (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) The equation for variable cost (VC) is: Vc=. (Properly format your expression using the tools in the palette.) The equation for marginal cost (MC) is: MC =. (Properly format your expression using the tools in the palette.)
Which of the following are relevant to a firm’s decision to increaseoutput: (a) short-run average total cost, (b) short-run marginalcost, (c) long-run average total cost? Justify your answer.
Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100
The following cost data are for a firm in the short run: Output Total Cost 0 $400 1 500 2 550 3 600 4 650 5 700 What is the firm's average variable cost at an output of 5 units? $30 $60 $120 $140
Consider the following cost function: 3 C=0.2q³-6q² + 80q + 150. (Enter a numeric response using a real number rounded to two decimal places.) When output is 19 units, average cost is $ When output is 19 units, marginal cost is $ The output level where average variable cost equals marginal cost is units.
Solve the attachment.
Answer the question on the basis of the following cost data. Average Fixed Average Variable Output Cost Cost 1 $ 50.00 $ 100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5:35 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50 The marginal cost of the sixth unit of output is Multiple Choice О $440.00. $8.37.
At an output of 3,000 units per year, a firm's total variable costs are $1,000 and its average fixed costs are $2. Its total costs per year are:
I need some help with the attached
Question 37 In this table, the average cost of producing 100 units of output is: R Output Total Cost Variable Cost 0 $5,000 $0 100 $5,700 $700 200 $6,300 $1,300 300 $7,100 $2,100 400 $8,000 $3,000 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a $57.00 Search b $31.50 C $20 d $23.67 Question 38 4- 4+ * hp 144 C f10 114 144 f12 + + 11 7/ ins prt sc delete home num