Assume a learning curve following the power law. If you double the initial cost c(1) of aproduct, the costs of producing an order of 20 units:a. stay the same.b. are reduced by 50 percent.c. are doubled.d. cannot be determined from the given information.

Q: that the dollar cost of producing X appliances is c(x) = 1000+70x-0.1x². ■ Find the average cost per…

A: Total cost is the cost incurred by the firm on the production of final goods and services. The total…

Q: The average total cost to produce 100 cookies is .25 per cookie. The marginal cost is constant at…

A: In economics, cost is the monetary value that has been spent on production of goods and services.…

Q: A skateboard manufacturer produces skateboards at a cost of $45 each, monthly fixed cost of $9000.…

A: Per unit cost of skateboards: $45 Monthly fixed cost: $9000 Let x be the quantity of skateboards…

Q: (a) The revenue from selling q items is R(q) = 50q - q 2 and the total cost is C(q) = 15 + 10q i.…

A: Given: R(q) = 50q - q2C(q) = 15 + 10q   (i) Fixed cost is that component of total cost function that…

Q: State the relationship between average variable cost (AVC), and marginal cost (MC) when AVC is…

A: 1. AVC (Average variable cost) is decreasing, when the MC (Marginal cost) is less than AVC (Average…

Q: A company with two different plants manufactures guitars and banjos. Its production costs for each…

A: The cost of production of a firm involves costs of labor, raw materials, and capital. Out of the…

Q: If marginal cost is greater than average total cost, then average total cost must be increasing.…

A: The marginal cost curve is downward sloping when it is below ATC. At the same time ATC is also…

Q: If producing more output increases average cost then         a)there are diseconomies of scale.…

A: Answer to the question is as :

Q: Diminishing Returns Jesaki Inc estimates that it will sell N(x) units of product after spending $x…

A: When the marginal product( MP) begins to rise or upto the point where marginal product curve has a…

Q: 4. Optimize the following function and comment about the findings. y =- 5x; +10x, + x,x, • 2x{ +4x;…

A: here we optimize the following function as given below;

Q: Marginal analysis (a.k.a. thinking at the margin) Multiple selects     assumes dimishing marginal…

A: Marginal analysis is the process of comparing additional benefits accrued to the additional costs…

Q: Before the point of diminishing marginal returns, marginal cost will be increasing. Group of answer…

A: The law of diminishing marginal returns states that adding more and more variable input to a fixed…

Q: Select all statements that are true using the attached chart. A.)Breakeven is the quantity where TR…

A:

Q: 10) The value of the best altemative sacrificed to obtain something you want is referred to as A)…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Variable Costs Average Variable Cost Production Data Production Data The $60 per worker a day…

A: The variable cost is $60 per worker a day. At 90 units of output (i.e. when 90 cars are washed in a…

Q: 16. The cost to produce an item is C(x) = 13x + 220. a. If 200 items are made, what is the marginal…

A: Marginal Cost is the additional cost incurred due to the production of an additional unit of…

Q: If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from…

A: Marginal cost is defined as the change in total production resulting from producing an extra unit of…

Q: Find the value of TFC if average fixed cost is $50 and the output is 50 units

A: The given information is as follows:- Average fixed cost = $50  Output = 50 units We have to…

Q: how do you know the total variable is 50 when finding the total fixed cost

A: TC = AC * Q ------------------- MC is a change in TC due to changing quantity by one unit.  MCn =…

Q: 8. It costs a car company $8000 to produce each car and fixed costs are $20, 000 per week. The…

A: Variable cost depends on quantity and fixed cost is independent of quantity. VC= 8000x FC= 20000