At what output does the firm reach minimum average variable cost? Multiple Choice 100 600 80

Q: Output(units per day) 10 20 30 Total costs($ per day) 40 54 62 80 Find the average total cost at the…

A: Average total cost is the per unit total cost , so here we calculate the average total cost by using…

Q: What is the relationship between the firm,total revenue,total profit and total cos

A: Costs are the expenses that the firms have to incur in their production activities. Revenue is the…

Q: Calculate average cost when total cost is 300 and quantity is 15

A: # The average of the total cost which we spend on a single good is given by the average cost.…

Q: Output      Total Cost  0               $4.00  1               $7.00  2               $8.00  3…

A: The main objective of any firm is profit maximization and a firm maximizes its profit by producing…

Q: Q1 It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold…

A: According to guidelines, first 3 subparts needs to be solved. Profit maximisation is done by…

Q: When marginal cost is greater than average variable cost, average variable cost i v (Click for List)…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: When Yennefer produces 68 spells her total cost is $4,530 and her average variable cost is $23. What…

A: Answer: Given, Total cost (at Q=68) = $4,530 Average variable cost= $23 Fixed cost=Total cost-Total…

Q: Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily…

A: Fixed Cost remains constant at all the units of output produced. Variable cost varies with the…

Q: With the aid of label diagrams explain the law of diminishing marginal returns

A: The law of diminishing marginal returns states that as the variable input is increased, the…

Q: The graph to the right shows the short run. curve for a small manufacturing firm in the 12.0- 11.0…

A: Costs refers to the sum of money that a production incurs in its process. It can be in the form of…

Q: computation and give illustration through diagram • Behavior of Variable and Fixed Cost • Marginal…

A: Cost is the expense incurred to any business to produce any good or services. Th cost can be broadly…

Q: Mr Jack is in the process of expanding his manufacturing business. He decided to open a plant in the…

A: Total cost is the total amount of expenditures a business incurs to produce a particular level of…

Q: ATC ATC2 ATC3 ATCA 2 4 10 Quantity (thousands of copies per day) A copy shop is choosing between…

A: In a market, when a firm produces an output and tries to generate at a level with the lowest average…

Q: If average cost for Ruby's chocolate production firm is $23 and the output is 1000 units.…

A: The data being presented in the question is:- Average cost for ruby's firm = $23  Output = 1000…

Q: Fill in the blanks below with the missing information.   Output quantity Total variable cost Total…

A: Here, the given table shows the information about total variable cost and total cost of the company…

Q: Use the information in the graph level of 500. a. Total fixed cost b. Total variable cost c. Total…

A: Total fixed costs refers to the total expenditure which remains fixed at all levels of output. It…

Q: The value of average cost is $80, the value of average variable cost is $49 Calculate the value of…

A: We know that the total cost is given as:- TC = TFC + TVC Dividing both sides with output:- AC = AFC…

Q: a. When output is 10, total variable cost is $ b. When output is 20, average fixed cost is $ c. When…

A: Total cost is the sum of variable cost and fixed cost. Fixed cost remains constant at each level of…

Q: Your cousin Vinnie owns a painting company withfixed costs of $200 and the following schedule…

A: Cost is the expenditure incurred by firms on the production of goods and services. Production costs…

Q: If average cost is $30 and the total cost is $900 What output must the firm have produced

A: Total Cost(TC) is the total amount incurred by the firm in production of given quantity. Average…

Q: $1,000,000- $500.000- 7,500 15.000 22.500 30,000 37,500 45.000 A B C. Total cost $2,500,000-…

A: Here we have to calculate the total Costs and break even points.The term "total cost" describes the…

Q: Graph the ATC and MC below and explain

A: The marginal cost (MC) represents the additional costs incurred in producing one extra unit of the…

Q: Vipsana's Gyros House sells gyros. She incurs a fixed cost of $120 per day. Vipsana pays $60 per day…

A: Fixed cost is the cost that remains same at all the level of output. Variable cost is the cost that…

Q: Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for…

A: Total cost is a sum of fixed cost and variable cost. Fixed cost remains constant and does not depend…

Q: Define Fixed Cost and provide an example.

A: A company's fixed expenses are critical. Profit forecasting and calculating the break-even point are…

Q: The total fixed cost, total variable cost, and total cost curves are shown for a company that…

A: Average Total CostThe average total cost (ATC) is a key economic metric that represents the average…

Q: Consider a graph drawn with the average total cost curve and average variable cost curve. The…

A: Average total cost is the combination of average fixed cost plus average variable cost. So, the…

Q: Output TFC TVC TC MC ATC A 25 25 ---- -- 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E 4 25 110…

A: The marginal cost is the cost of producing an additional one unit of output. Marginal cost (MC) is…

Q: Variable cost Quantity (number of cups) (taka) Rahim operates a small tea stall in his neighborhood…

A: (a) Total cost is sum of variable cost and fixed cost.  => Total cost = variable cost + fixed…

Q: Calculate the value of average cost of AFC is $70 and AVC is $67

A: According to the question, we are given that:- Average fixed cost = AFC = $70 Average variable cost…

Q: As total output increases average fixed cost v (Click for List) constant at a maximum falling rising…

A: Variable costs refers to those costs which depends upon the level of output. These costs increases…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Average Fixed Cost (AFC)Shape: AFC is a downward-sloping curve.Explanation: As output (quantity)…

Q: the total cost is constant and the total revenue will increase, Explain

A: If price and total revenue both increaased in the market then the demand for the good is inelastic…

Q: Government imposes higher tax on tobacco production. Which cost curves will be affected and why of…

A: When the government imposes a higher tax on tobacco production or the output. With this tax…

Q: Why is the average cost a U shape

A: Cost refers to the amount of money required to produce the goods and services by the various factors…

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: Total fixed cost (TFC): - it is the cost incurred on the fixed capital assets like land, building,…

Q: Calculate TFC if average fixed cost is $30 and output is 50

A: The information being given is:- Average fixed cost = $30 Output = 50 units  Total Fixed cost = ?