Consider the following cost information for Yasir’s tea stall.   (Cups of tea per hour) Total Cost in Rs. 0 30 1 33 2 38 3 45 4 54 5 65 6 78 7 93 8 110 9 129 10          150   If Yasir’s fixed cost is Rs. 30 (1) What is the efficient scale of Yasir’s tea stall? (2) Graph the curves for total cost, ATC, AVC, AFC, MC. Explain shape of these curves and the relationship between ATC and MC.                            (3) Over time Yasir decides to expand his business. In the long run he first experiences economies of scale, followed by constant returns to scale and finally diseconomies of scale as the output increases. Draw a diagram of his ATC in the short run and the long run. Explain this diagram in detail.

How do we calculate each of the following: marginal cost, average total cost, and average variable cost?

What shape of a long-run average cost curve illustrates economies of scale, constant returns to scale, and diseconomies of scale?

Practice V 3 #7 Can you show me how to do this

Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs: Quantity Variable Cost Average Fixed Cost Average Variable Cost Average Total Cost (Houses Painted per Month) (Dollars) (Dollars) (Dollars) (Dollars) 1 10 2 20 3 40 4 80 160 6 320 7 640 The efficient scale is houses.

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ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above

The total fixed cost, total variable cost, and total cost curves are shown for a company that produces custom baseball gloves. v Cost ($) 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 0 1 2 3 4 2nd attempt 5 Price ($) 400 375 350 8 7 8 9 10 11 TC TVC TEC 12 13 14 15 Graph the average total cost curve by first using the point tool to plot points for the average total cost for Q= 1, Q=5, and Q = 14 and then using the curved-line tool to connect them. You may assume that all total costs for these quantities are multiples of $25. Use the formula ATC = TC for your calculations. To refer to the graphing tutorial for this question type, please click here. 15 16 Quantity of gloves produced See Hint O

It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for $4.90 each.(i) Make a table showing the total cost and the revenue obtained from producing 20,40,60,80 and 100 cupcakes.(ii) Write algebraic expressions representing the cost C and the revenue R as functions of the number of cupcakes X produced and number of cupcakes X sold respectively.(iii) Graph both functions on the same coordinate axes and from your graph determine the cordinate at which cost equals revenue.

(a) Find the marginal cost function C'(x). C'(x) Use it to estimate how fast the cost is increasing when x = 60,000. | per game system Compare this with the exact cost of producing the 60,001st game system. The cost is increasing at the rate of $ | game system is $| the estimated cost of producing the 60,001st game system found using the marginal cost function. | per game system. The exact cost of producing the 60,001st J. The actual cost of producing the 60,001st game system is --Select-- (b) Find the average cost function C(x) and the average cost to produce the first 60,000 game systems. (Round your answer to the nearest cent.) C(x) C(60,000) - $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 60,000 game systems.