Apple Watch retailed for $399 in 2020, and firm was predicted to sell millions of units. The firm's total cost in terms of materials- and labor was no more than $84. Thus, Apple's economic value for each watch sold is $399. O True O False

Q: Joe quits his computer programming​ job, where he was earning a salary of$70,000per​ year, to start…

A: Accounting cost is the cost that is seen as money out from the bank account and recorded in the…

Q: Why the average fixed cost curve does not touch the output axis ? YA AFC Output Cost

A:

Q: The firm producing 7 units  iPhone in a hour and cost of producing it at $250 What is firm total…

A: Given values: Number of iPhones (Q) = 7 units Cost of producing one iPhone = $250

Q: Lake Charles Seafood makes 500 wooden pack-ing boxes for fresh seafood per day, working in two…

A: Productivity is represented as the ratio between the amount of output and the number of inputs. In…

Q: L        Q TVC TC AVC AFC ATC MC   4      20               5      26               6      30…

A: Total cost is the sum of fixed and variable costs. Average cost is the per unit cost of output.…

Q: A firm pays $500,000 per year on costs that it cannot alter in the short run. This year, it expects…

A: Cost Cost refers to any expense that incur in the process of production. Total cost is made up of…

Q: which one is true If a firm uses 10 units of labour and 20 units of capital to produce 10 units of…

A: The marginal product of labor refers to the increase in the total output by the addition of one more…

Q: The short-run production function for a manufac- turer of wireless earbuds is shown in the table…

A: The average product is the average output produced by using each factor or input of production. It…

Q: You are an employer seeking to fill a vacant position on an assembly line. Are you more concerned…

A:

Q: When the average cost of producing each individual unit declines as total output increases is…

A: Production function shows the relationship between inputs and output. It reflects how changes in…

Q: Which of the following is not a variable cost at the sandwich shop? O Cost of labor

A: We have to find which is not a variable cost at the sandwich shop.

Q: What is the total cost when the marginal product of labor is 15? What is the total variable cost…

A: The marginal product of labour can be calculated by dividing change in output by change in labor.…

Q: Consider a small photography studio with 6 workers and 3 The total cost of labor and capital is…

A: In economics, the cost of production is defined as the expenditures incurred to obtain the factors…

Q: Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.…

A: Based on the provided information and the cost functions, I have filled out the missing data in the…

Q: Nimubs, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the…

A: Cost functions are crucial tools for understanding and analyzing the cost framework for a firm's…

Q: The following data show the total output for a firm when different amounts of labour are combined…

A: Capital is fixed and labor can vary. The wage rate per unit of labor is $10 and the cost of capital…

Q: Say that the last tonne of steel produced by a steel company imposes three types of costs: labour…

A: Marginal cost is the additional cost incurred by producing one more unit of a good or service. It…

Q: If you are calculating it correctly, what should happen to AVERAGE fixed cost per pizza as you…

A: Fixed cost is the cost that does not change as the level of output changes. Fixed costs exist in the…

Q: The N.M. Corporation has exactly the same costs of production as last year except for fixed costs,…

A: Cost can be defined as a concept that shows the amount of expenditure and any other sacrifice such…

Q: irs of shoes their total cost is $500. Elliot's arginal cost to produce the 31st pair of shoes is 1.…

A: Average total cost = total cost/quantity Marginal cost is the additional cost incurred in order to…

Q: Suppose that a firm's production function is: 112- q = 10L0.5K0.5 98- Its marginal product functions…

A: Output has increased to 280 units, capital is 14 units. Therefore, q=10L0.5K0.5280=10L0.5(14)0.5…

Q: Consider a small photography studio with 8 workers and 5 The total cost of labor and capital is…

A:

Q: Moris just opened a chocolate place, it costs her $500 per day to pay for workers’ wages and an…

A: here we calculate the total cost and break even quantity  so the calculation as follow-

Q: Can total cost of the firm be zero? if yes what's the production point at this level

A: Total cost of the firm is the combination of fixed cost of the firm such as rent of the workplace…

Q: When output is zero, total fixed cost is zero. O True O False

A: Total fixed cost it is cost that do not vary with level of output.

Q: 30 L* Output 0 10 20 30 40 50 60 70 The price of labour is $30 per unit and the price of capital is…

A: The production cost of the firm’s output under the circumstances of the long run will be termed as…

Q: Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to…

A: Break-even point in economics refers to the level of output at which a company's total revenues…

Q: Fill in the following cost table.  For the first few rows, you can work from left to right.…

A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: Q Profit 10,000 Price per unit = P50 Average variable cost = P40 Total Fixed Cost= P250,000 20,000…

A: Here, given information is: Per-unit price= P50 AVC= P40 TFC= P250,000 To find: total cost of…