Answered: Complete the table below: Output…

Complete the table below: Output Total Cost (RM) Total variable cost (RM) Total fixed cost (RM) Average fixed cost (RM) Average total cost (RM) Marginal

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: The hospital's laboratory costs include two components: (a) $40,000 per month for compensation of…

A: To produce a graph depicting the cost behavior of the hospital's laboratory, we must account both…

Q: The accompanying table shows the total daily output for a firm producing specialty cakes operating…

A: Total fixed cost (TFC) is that cost which does not change with a change in the level of output.…

Q: Marginal and Total Costs Quantity Total Marginal (Q) Cost Cost (TC) (MC) 0 15 1 25 2 70 30 3 4 40 5…

A: Total cost refers to the cost of production a firm incurs at different levels of output.Marginal…

Q: Use the following table to ccalculate TFC - keep your calculation for follow up questions: Total…

A: Fixed cost is the cost that is not affected by the level of production of a firm; it is a cost that…

Q: CIS 360 - Business Database Concepts – DB Design spreadsheet is a sample that is currently being…

A: *Answer:

Q: In the above table, the average physical product of 2 workers and the marginal product of the 2nd…

A: Marginal product refers to the change in output that results from increasing the input of a specific…

Q: Match each of the following graphs to the correct cost behavior. 6 Total Cost ($) Total Cost ($)…

A: Cost behavior can be of three main types depending on their tendencies to increase, decrease or…

Q: Bags/ variable average Participants fixed cost cost total cost variable cost cost marginal total…

A: Calculations Average Variable Cost (AVC): AVC=Variable Cost/(Bags/ Participants)Marginal Cost (MC):…

Q: Find the value of B. Quantity Total Cost Fixed Cost Variable Cost Average Total Cost Average Fixed…

A: "Average fixed cost measures the fixed cost of production per unit of output."

Q: Fill in the remaining cells of the following table. Average Variable Cost (Dollars per pair) Average…

A: The quantity represents the levels of output that a producer produces. Total cost is the sum…

Q: Use the following table to calculate MC - use previous calculations and keep your calculation for…

A: Marginal cost is the change in total cost due to the extra unit of production. MC is calculated by…

Q: Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input…

A: The markets are the place where the buyers, and the sellers of the goods, and services tend to…

Q: antity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost…

A: TC = FC + VC VC = TC - FC MC = (TC2 - TC1)/(Q2 - Q1) AVC = VC / Q ATC = TC / Q

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: The following Table is for answering questions 42 to 45 below: Output 6000 TFC TVC Input 1200 TC MC…

A: In the given table, w belongs to the TFC. Fixed cost is constant and it do not vary with the changes…

Q: Find the value of X. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000| $1,000…

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

Q: the ATC of eight 4 qt pas of ice cream is $80 and the AFC of eight pails is 125, the AVC of eight…

A: Here, given information is, Average total cost (ATC): $80 Average fixed cost (AFC): $25 To find:…

Q: ABC is a small business producing instructional modules for disabled children in public schools. The…

A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…

Q: Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule…

A: Given: Quantity Variable cost 1 10 2 20 3 40 4 80 5 160 6 30 7 640

Q: Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B.…

A: Fixed cost is the cost that remain same at all levels of output. Variable cost is the cost the…

Q: Compute the following Q P TR MR AR TC TR-TC 0…

A: Total revenue is the revenue that a producer received after selling the output and marginal revenue…

Q: Egidio Binaccio designed an ancestry app that allows people to connect with long lost Italian…

A: Costs refer to the expenses that are incurred in the process of production of goods or services.…

Q: draw an isocost/isoquant diagram for the question.

A: The ideal input mix refers to the blend of resources a company utilizes to achieve a specific output…

Q: Using the table above, calculate the average total cost for producing 10 books, in dollars.

A: Introduction This concept is taken from the topic Cost of production.

Q: A microbrewery was built in 2014 at a total cost of $650,000. Additionalinformation is given in the…

A: Weighted index for 2020 (in terms of 2000 indices) can be calculated as follows.

Q: K Matt's candle factory rents equipment for making candles and hires students Matt pays $140 a day…

A: Total cost is the sum of fixed cost and variable cost. Variable costs are the cost that changes…

Q: None

A: To complete the table and answer the questions based on the provided data, let's go through the…

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: Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows…

A: The given table can be completed by using the following equations.

Q: PRICE (Dollars per extra-large truck) 500 450 400 360 Demand 300 250 200 150 62″ F Mostly cloudy 100…

A: Demand schedule is the tabular representation of quantity demanded at various prices. Demand curve…

Q: Total Output of (workers per week) Portable Power Banks Input of Labor Average- Product 1 10 2 18 3…

A: Total product is the total production done by the producer by using the all variable and fixed cost…

Q: Please correct answer and don't use hand rating

A: Step 1: Calculation of average total cost We can calculate the average total cost using given…

Question

Complete the table below:

Output

Total
Cost
(RM)

Total
variable
cost
(RM)

Total
fixed
cost
(RM)
Average
fixed
cost
(RM)
Average
total
cost
(RM)
Marginal
cost (RM)

0 50
5 160
10 200
20 250
36 330
58 400
72 480
88 580
106 700
130 820
150 980

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Introduction

VIEW

Explanation

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Output Total Fixed Cost (TFC) Total Variable Cost (TVC) Total Cost (TC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Average Cost (AC) Marginal Cost (MC) 0 200 - 1 40 2 44 3 330 4 50 90 5 37
340 425 540 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC curves, plot the points on the integer; for example, the average total cost of producing one pair of boots is $200, so you should start your ATC curve by placing a green point at (1, 200). For marginal cost, plot the points between the integers; for example, the marginal cost of increasing production from zero to one pair of boots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 200 175 ATC 150 125 - AVC 100 MC 75 50 25 1 4 QUANTITY OF OUTPUT (Pairs of boots) COSTS (Dollars per pair) 8 6
Jskxkskd
Table: Cost Data Quantity of Output 0 1 2 3 4 5 6 7 Variable Cost (VC) 0 50 70 100 140 190 250 320 Total Cost (TC) 50 100 120 none of these 190 10 240 50 150 190 240 300 370 What is the average fixed cost of producing 5 units?
L (workers) 0 1 2 3 4 5 6 7 Q (units) 0 90 210 320 420 510 590 660 MPL (units) FC (S) greater than less than equal to not enough information VC TC AFC AVC ATC MC (S) (S) (S) (S) (S) The average fixed cost of producing 590 gadgets is _____ the average fixed cost of producing 510 gadgets.
6 5 nts eBook Print References Mc Graw Hill Output 0 1 2 3 4 5 6 7 8 9 $ Total Cost $2,500 3,410 4,040 4,480 4,900 5,220 5,540 6,310 7,320 9,710 units variabl Cost $ 0 b. What is the value of total fixed cost? units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost 1 c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? Marginal cost: $ Average Total Cost 1 $ 3410 2020 1493.33 H a 1225 1044 923.33 901.42 915 1078.89 a Average Variable Cost D $ 1 625 500 416.67 35713 312.5 27778
Quantity of Labor (workers) Total Product (units per hour) 0 12 34 56 0 259 151817 The table above shows the total product schedule for The X Firm. Increasing marginal returns occur until the worker because A) 4th; the average product of labor is also increasing B) 4th; the marginal product of the 4th worker exceeds the 3rd worker, but not the 5th worker C) 3rd; the average product of labor is also increasing D) 5th; output declines with the 6th worker E) 5th; output is maximized
Output AFC AVC ATC MC 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 290 10 30 160 190 360 Refer to the chart above. The total fixed costs are what?
es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778
Fill in the space (d) in the table below associated with the firm William Perry, Inc., that delivers refrigerators in the Chicago area, using the two inputs of labor and trucks. Number of Amount of Trucks Labor 2 2 2 2 2 2 2 0 1 2 3456 Total Output 0 75 (c) 380 (f) Average Product of Labor (a) (b) 100 (d) (e) 75 Marginal Product of Labor 100 50 (g) 0
please view photo uploaded
From the graph given in image,if three micro ovens are produced,average variable cost are?