Assume that Peter's short run Total Cost Curve is TC = 20,000q- 200q² +q*. Calculate his (short run) Average Total Cost (ATC) for quantities of 50, 100, and 150 and sketch his ATC curve given the values you calculated.

Q: Find total fixed cost if average fixed cost is $30 and output is 11

A: The information being given is:- Average fixed cost = $30  Output = 11 units  We have to calculate…

Q: Give the formulas for average fixed cost (AFC), marginal cost (MC), average variable cost (AVC), and…

A: Average fixed cost = Fixed cost / quantity Marginal cost = Differentiating the total revenue…

Q: Consider the following cost function. a. Find the average cost and marginal cost functions. b.…

A: We are given the total cost function which depends on the quantity whose range is also given. And…

Q: When a firm produces 600 widgets with total cost of $1,300 and fixed cost of $800, what is the…

A: The variable cost per unit is the average variable cost.To calculate the average variable cost,…

Q: Total Cost Analysis The manager of a rival T-shirt stand found that her cost to produce 10 T-shirts…

A: The essence of total cost analysis is to identify all relevant costs over the entire life of a…

Q: You are given the following long-run cost function: TC = 150Q - 20Q2 + 1.8Q3 What level of Q will…

A: Economies of scale is where slope of long run average cost <0, while disceconomies of scale comes…

Q: If average fixed cost is $30  Calculate total fixed cost if output is 30 units

A: According to the above question, the values given are:- Average fixed cost = $30 Output = 30 units…

Q: Suppose that a company has determined that a 70% experience curve accurately describes the evolution…

A: Cost incurred to produce 1st unit = $200Experience Curve Percent = 70%Experience Curve suggests…

Q: For a short-run cost function which of the following statements is (are) not true?

A: The marginal cost function intersects the average variable cost function where the average variable…

Q: The total cost of producing one unit is $50. The total cost of producing two units is $75. At a…

A: Given information: Total Cost  to produce 1 unit = $50 Total Cost  to produce 2 unit = $75

Q: Diseconomies of scale exists over the range of output for which the long run average cost curve is?

A: Diseconomies of scale exists over the range of output for which the long run average cost curve is…

Q: What is total fixed cost when output is 2, fixed cost is 25, and average cost is 30

A: Fixed cost are such cost that do not vary with the level of output i.e it remains constant at every…

Q: A firm's short-run cost function is C(a) = 240q – 69° + 0.6q° + 600. Determine fixed cost, F;…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: A computer company produces hardware and software using the same plant and labor. The total cost of…

A: Economies of scope occur when producing multiple products together reduces the total cost, as shared…

Q: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for…

A: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold for…

Q: Explain the general shape of the long run cost curves in relation to economies and diseconomies of…

A: The shape of long run cost curve changes depending on the returns to scale.

Q: A company's cost function is given as: TC = 25+ 30Q + 0.2Q² What is the equation for the company's…

A: Variable cost refers to the cost which changes with change in the level of output. The fixed cost…

Q: Austin's total fixed cost (TFC) is $350/month at his cupcake bakery.  Austin employs 10 workers and…

A: The amount of output produced determines the fluctuation in variable costs. Labor costs are one type…

Q: what is the fixed cost, marginal cost, average total cost, average variable cost and average fixed…

A: Total cost is the sum of fixed cost and variable cost.Fixed cost is the cost that doesn't changes…

Q: According to following information, which of the following is the total cost function in the form of…

A: Total cost is the cost that includes total fixed cost as well as a total variable cost of the…

Q: Give the formulas for and plat average fixed cest, AFC, marginal cast, MC, average variable cost,…

A: Cost curves are graphical representations of the relationship between the quantity of goods or…

Q: Find the cost function for the marginal cost and fixed cost. C = Marginal Cost Fixed Cost (x = 0) dC…

A: The marginal cost function is given below:The fixed cost of production (at x =0),  is…

Q: You are given the following long-run cost function: TC = 200Q - 25Q2 + 1.5Q3 What level of Q will…

A: Here the firm's total cost=TC = 200Q - 25Q2 + 1.5Q3 here the total fixed cost-TFC=0 (since this is a…

Q: Find total cost if average cost is $11 and output is $20

A: The data presented in the question above:- Average cost = $11 Output = $20  Total cost is to be…

Q: Given the following Cost Function: C(q) = 100 + 50q – 10q + q^3. Find the equations for Total…

A: Total variable cost (TVC) is that cost which changes as the level of output changes. Eg: Piece…

Q: Total Marginal Cost (using total cost) Quantity Variable Marginal Cost Cost Cost (using variable…

A: Fixed cost of production is that portion or part of firm's costs which remains same at each level of…

Q: Find total cost if output is 39 units and average cost is $22

A: The Given information is as follows:- Output of firm = 39 units  Average cost = $22  We have to find…

Q: C = 0.25q3 - 4q2 + 75q + F. The equation for average cost (AC) is: AC = (Properly format your…

A: A cost function is a formula used to predict the cost that will be experienced at a certain activity…

Q: What is the total variable cost of 2 oil changes?

A: Total cost is the sum of fixed cost and variable cost.

Q: Diminishing returns A cost function of the form C(x) = 1/2 x2reflects diminishing returns to scale.…

A: According to the question, C(x) = ½ X^2 AV(x) = C(x)/x           = ½ x MC(x) = C’(x)             =x

Q: What would be the value of average cost if total cost is $1600 and output is 24 units

A: The information being given is:- Total cost = $1600 Output = 24 units  We have to calculate the…

Q: Assume quantities need not be integers. Marginal cost is MC(q) = 3 + (9/10) * q. What is average…

A: Integrating the marginal cost function with respect to q, to get the total cost function. Total cost…

Q: A firm has this cost function: C= 1000-4Q+5Q2. The firm is currently producing 3 units of its…

A: Given cost function: C = 1000 - 4Q + 5Q2 and the firm is currently producing 3 units of its product.

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.