Are fixed costs considered to be anticipated or unanticipated costs? Are variable costs considered to be anticipated or unanticipated costs? Fixed costs are anticipated costs and variable costs are anticipated costs. Fixed costs are unanticipated costs and variable costs are anticipated costs. O Fixed costs are anticipated costs and variable costs are unanticipated costs. Fixed costs are unanticipated costs and variable costs are unanticipated costs.

Are fixed costs considered to be anticipated or unanticipated costs? Are variable costs considered to be anticipated or unanticipated costs? Fixed costs are anticipated costs and variable costs are anticipated costs. Fixed costs are unanticipated costs and variable costs are anticipated costs. O Fixed costs are anticipated costs and variable costs are unanticipated costs. Fixed costs are unanticipated costs and variable costs are unanticipated costs.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 31CTQ: A common name for fixed cost is overhead. If you divide fixed cost by the quantity of output...

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Similar questions

Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?
Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?
A common name for fixed cost is overhead. If you divide fixed cost by the quantity of output produced, you get average fixed cost. Supposed fixed cost is 1,000. What does the average fixed cost curve look like? Use your response to explain what spreading the overhead means.
How does fixed cost affect marginal cost? Why is this relationship important?
What shape of a long-run average cost curve illustrates economies of scale, constant returns to scale, and diseconomies of scale?
What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?
Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs
Which of tholowing statements is true? O An explicit cost is more important, dolar for dollar, than an implicit cost. An explicit cost is an actual cost an implicit cost is a theoretical cost. Economic costs include both explicit costs and implicit costs O Explicit costs are accounting costs, not economic costs, implicit costs are economic costs, not accounting cos
Isit possible for accounting profit to be positive and economic profit to be negative? OA No, econamic profit and accounting profit will always end up being the same. OB. No, economic profit must always be larger than accounting profit OC Yes, this could occur if explict costs were modest and implicit costs wern high. OD. Yos, this could occur if impliat costs were modest and explict costs wern high.
By doubling a machine's inputs, the output increases three times. How does this affect cost and what does this characterize? O Per unit costs rises, Diseconomies of Scale O Per unit costs falls, Economies of Scale O Per unit costs remains the same, Constant Economies of Scale O Per unit cost rises, Economies of scale Per unit cost falls, diseconomies of scale.
Q50
Your cousin Vinnie owns a painting company with fixed costs of $200 and thefollowing schedule for variable costs:Calculate average fixed cost, average variable cost, and average total cost for eachquantity. What is the efficient scale of the painting company?