Assume the short run variable cost function for Japanese beer is VC=0.6q^0.8 If the fixed cost (F) is S1500 and the firm produces 650 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs if the firm increases its output to 700 ? Assuming the firm produces 650 units, the variable cost of production (VC) is VC nothing. (Enter your response rounded to two decimal places.)

Q: sh lives 1 4/5 miles from the park. So far he walked 2/3 of the distance from his house to the park.…

A: We Have find out how many distance josh walk

Q: What are the benefits of considering the economic decisions?

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Identify some essential elements common to any rational decision-making process?

A: Rational decision making is a complex process that contains nine essential elements. These are as…

Q: What is the Benefit-Cost Analysis?

A: A Benefit-cost analysis which is also known as a cost-benefit analysis is used to predict the costs…

Q: What causes market imperfections? Give 2 examples.

A: The following problem has been solved as follows:

Q: Full form of GATT?

A: GATT was a legal agreement that was signed in1947 by 23 countries. It sought to reduce the barriers…

Q: What is contemporary issue. Explain the concept

A: The word contemporary is defined as the present time, current or scenario. The contemporary issue is…

Q: Please provide the answer of my question with explanation

A: Regression is a statistical technique used in the fields of finance, investing, and other subjects…

Q: What concept uses observable qualities in order to fill in missing informationwhen making a…

A: Where there is information missing in the market, that is only one party in the transaction has full…

Q: Network externalities are important for a. gas stations. b. AARP, an organization that advocates for…

A: Network externality refers to the positive or negative impact that society experiences from the…

Q: How does consumerism provide opportunities for and limitations on impacting quality of life?

A: Consumerism is a policy in economics in which the market is determined by people's choices and…

Q: Write a background of the study about the impact of COVID-19 pandemic on students

A: With the outbreak of the COVID-19 pandemic, there has been a contraction of economic activities all…

Q: How to perform a cost benefit analysis?

A: There are some costs and benefits associated with each economic activity. Thus, a cost-benefit…

Q: Can someone type a paragraph in a document approximately 350-450 words about 'technology and…

A: Technology, in economics, refers to the changes in the production process in the manner which…

Q: Are options b through e correct or incorrect?

A: A price ceiling is the commanded most extreme amount a dealer is permitted to charge for a product.…

Q: (Collusion and Cartels) Use revenue and cost curves to illustrate and explain the sense in which a…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: Is buying a steak at the restaurant considered a good or service?

A: Answer: Introduction: Goods: goods are those things that have a physical presence. In other words,…

Q: The difference between the price a consumer is willing to pay for a product and the price the…

A: Consumer surplus is the benefit that a buyer gets from purchasing a goods and services measured by…

Q: How does a consumer determine how much of a good he or she will buy?

A: Here we need to find the amount of a good that he or she will buy :  Now, As we know that, The…

Q: How do I solve the following problem?

A: We will use profit maximisation techniques to solve this question.

Q: Write an introduction and conculsion to this essay?

A: Economic reforms are planned adjustments and actions taken by governments to enhance the efficiency…

Q: Question 3 The lottery is a fair gamble Ⓒ True O False

A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the…

Q: how do i put this question in exel?

A: Market equilibrium: At the market equilibrium demand equals supply. Or at market equilibrium point…

Q: Rational decision-making will likely generate a better "economic" outcome vs. emotional…

A: In economics, there is a basic assumption that consumers are rational in their decision making. This…

Q: What Is Cost-Effectiveness Measures?

A: Cost(C) is an important component of production. The ‘cost of production’ refers to the total…

Q: Do consumers always make rational consumer decisions when buying economic goods?

A: Rational action applies to a choice - formation mechanism focused on the making of decisions that…

Q: What is imperfect market

A: The market is a location where the transaction of services and commodities takes place.

Q: Examples of form utility?

A: Utility is defined as the complete satisfaction a consumer derives from the usage of a product or…

Q: Choose the correct  At what stage of the purchasing decision-making process should the criteria be…

A: The basis on which the selection of decisions is made in the evaluation of alternatives. This is…