Answer the question on the basis of the following cost data. \table[[Output, \table[[Average Fixed], [Cost]], \table[[Average Variable], [Cost]]], [1, $50.00, $100.00Answer the question on the basis of the following cost data.OutputAverage FixedCostAverage VariableCost1$ 50.00$ 100.00225.0080.00316.6766.67412.5065.00510.0068.0068.3773.3377.1480.0086.2587.50Total fixed cost isMultiple ChoiceО$6.25.$100.00.$150.00.О$50.00.

Total fixed cost does not change with the quantity Therefore, the total fixed cost for 1 unit at…

Answered: Answer the question on the basis of the…

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

Assume the following total cost function: Total Cost $75 1 105 128 What is the average fixed cost of producing 2 units? What is the marginal cost of producing 2 units?
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
Answer all and get like. Hand written solutions are strictly prohibited
Total Cost Marginal Cost (Dollars) Average Variable Cost (Dollars per pair) Fixed Cost Variable Cost Average Total Cost (Dollars per pair) Quantity (Pairs) (Dollars) (Dollars) (Dollars) 120 80 1 200 40 2 240 45 3 285 55 4 340 85 425 115 6 540 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve by placing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).) Note: Plot your points in the order in which you would like them…
how do you know the total variable is 50 when finding the total fixed cost?
What is the term for the change in total cost resulting from a one-unit increase in production? average fixed cost opportunity cost average variable cost marginal 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.)
Total Fixed Cost (TFC), Total Variable Cost (TVC), Total Cost (TC), and the Average Total Cost (ATC) per unit. A company produces 100 bicycles per month. The company pay 3,000 per rent, 2,000 per insurance, 1,000 per loan, including interests, 3,000 per labor, and 11,000 per raw materials. Calculate the Total Fixed Cost (TFC), the Total Variable Cost (TVC) the Total Cost (TC) of producing the 100 bicycles and the Average Total Cost (ATC) per bicycle.
Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TVC = Total Variable Cost, AVC = %3D %3D Average Variable Cost Recall that an "X" in the chart means that no number goes in that space. TFC TVC AVC 300 300 150 75 300 270 135 3. 300 370 123.33 4 300 480 300 650 130 300 840 140 1. 2. 6
Use the following information to determine the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs.Total Output Costs TFC TVC AFC AVC ATC MC 0 $100 1 $150 2 $225 3 $230 4 $300 5 $400
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.
Refer to the table below. Note that the first column shows variable costs. Quantity Cost 0 1 2 3 5 6 (in dollars) Costs 0 15 35 60 90 Fixed Total Average Costs Total Costs (in (in (in dollars dollars) per unit) dollars) 160 40 40 40 55 55 : 40 75 37.5 40 100 125 40 33.3 40 130 32.5 165 33 40 200 33.3 Average Variable Costs (in dollars per unit) 15 17.5 20 22.5 25 26.6 Marginal Costs (in dollars per unit) 15 20 25 30 35 40 If the firm produces 5 units that it sells at a price of $30.00 each, what will its profits or losses equal? losses equal $15 profts equal $15 profts equal $25 losses equal $25

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS