Q: A firm's output, variable costs, and total costs are given in the table below. Instructions: Round…
A: Total cost is the cost of producing total no. of goods. Total cost is the sum of fixed cost and…
Q: The table below represents costs for producing pairs of sunglasses. Calculate the marginal cost of…
A: Total cost(TC) refers to the overall expense incurred by a firm in the production of services or…
Q: Please use the following table to answer the question. Q AVC TVC TFC TC MC 0 - $0 $150 - $25 $150…
A: Total cost is the cost of producing all the units of good. Fixed cost is the cost that does not…
Q: How can a company have a competitive advantage without scale?
A: Differentiation Strategy.Being distinctive is a great approach for businesses to differentiate…
Q: A X= 45.00, Y= 55.00, Z = 62.50 X= 40.00, Y= 60.00, Z = 62.50 C X = 18.00, Y= 55.00, Z = 50.00 X=…
A: here we complete the table and answer the following below
Q: Based on the above information, fill in the following COST TABLE for Green Berry Farms Berry…
A: Formula: Total cost=Total fixed cost+Total variable costTotal variable cost=Quantity of farmworkers…
Q: Vanessa runs a small business that has the following total cost at different levels of output.…
A: The total cost incurred by a firm operating in the market includes fixed costs and variable costs.…
Q: Fill in the table below applying the cost equations.
A: Total cost = Total Fixed cost + Total variable cost Total variable cost = Average variable cost ×…
Q: What happens to the average fixed cost, when the output of a firm increases.
A: # In an economy, the average fixed cost is referred to be as fixed cost per unit of output produced.…
Q: nstructions: Round your answers to the nearest dollar.
A: Given Monthly rent paid = 3000 $ fixed cost Variable cost = 2000 $ paid per programmer Now, VC =…
Q: The cost function of producing Q units of good s.t: C(Q) = 4Q² + 16Q + 40 Write down the average…
A: The average cost is the total cost divided by the total quantity C(Q)=4Q^2+16Q+40 AC(Q)=C(Q)/Q…
Q: Use the table to answer the uestion below: Quantity Total Cost 0…
A: The cost for producing 0 units would be the fixed cost. Cost incurred irrespective of number of…
Q: You set up a lemonade stand. The stand itself costs $200. The ingredients for each cup of lemonade…
A: Costs in business and economics can be categorized into various types based on different criteria.…
Q: List and explain which of the following is a fixed cost or a variable cost for Caribbean Airlines.…
A: Total fixed costs are the total obligations of the firm per time period for all fixed inputs. Total…
Q: What is the relationship between the marginal cost (MC) curve and marginal product MP) curve of a…
A: The marginal product is the change in the total product when an additional unit of the variable…
Q: Suppose Ralph has a chicken Enteryour sarch term with the total cost function shown in the…
A: Fixed Cost refers to the cost that does not change with the change in level of output
Q: Douglas Fur is a small manufacturer of fake-fur boots in Philadelphia. The following table shows the…
A: Total cost is the sum of variable cost and fixed cost. At zero level of quantity, fixed cost and…
Q: ane's Juice Bar has the following cost schedules: In the following table, complete the marginal…
A: Total cost is the total expenditure done by a firm on the production process. The total cost…
Q: variable costs (AVC), average total costs (ATC), and marginal costs (MC) to fill in the missing…
A: Fixed cost refers to the cost that stays same at all levels of output. Variable cost is the cost…
Q: f marginal cost is decreasing, what is happening to an average variable cost (decreasing,…
A: the marginal cost refers to the change in the total cost that arises when the quantity produced is…
Q: 3:5 Uwe produces bicycles. The quantity of bicycles is Q. The material costs are 36 for each…
A: Since , we are given that Quantity of bicycle produced=Q Material cost= 36 for each means 36Q Cost…
Q: What happens to fixed cost as the quantity produced increases?
A: In the market, when a firm makes production activities, there are various costs incurred during this…
Q: Pretty Designs, Inc. makes flower pots. Suppose that their average total cost of production is $60…
A: Suppose the average total cost of 5 flower pots is $60. The marginal cost of the sixth flower pot is…
Q: 1. Micky's auto mechanic shop has a daily total cost represented by: C = 100 + 4q + 4q². Shop's…
A: GIVEN C = 100 +4q+4q2 MC=4+8q
Q: y has fixed costs of $10 per day and variable costs of $ 1 per loaf . Its oven can handle up to 50…
A: Total cost = Fixed Cost + Variable cost Average fixed cost = Fixed CostQuantity Average Variable…
Q: Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to…
A: Fixed costs are the costs that are incurred by the producers that do not change with the increase or…
Q: Draw the cost curve of the typical firm and identify its profit maximizing rate of output and its…
A: The formulas used in this question are: 1) PRICE = MC under perfect competition 2) Total Revenue =…
Q: What are the short-run and long-run costs of the production of Walmar
A: There are various costs incurred by a firm during its production process and even in the pre and…
Q: To make a decision about opening a restaurant, what is the relevant cost for Aram? $50 thousand has…
A: Explicit costs are ordinary business expenses that appear in the general ledger and have a direct…
Q: Show the effect of diminishing returns on the marginal and average cost curves of a firm in the…
A: diminishing returns is a financial regulation expressing assuming one contribution to the…
Q: A business's marginal cost has a minimum value of $3; its average variable cost has a minimum value…
A: The firm can earn the positive profit in the short run, but in the long run, firm does not earn…
Q: Given the following table: OUTPUT TOTAL COST 0 50 1 2 3 4 5 6 GRONDE 59 67 74 80 87 95 Part 1: The…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: Suppose that each firm in a competitive industry has the following costs: Total Cost: TC = 50+/q²…
A: Total cost is a sum of fixed cost and variable cost. Fixed cost doesn’t depend on quantity whereas…
Q: Webby Inc. is a web development company. Webby's monthly production function for developing websites…
A: Given information: Monthly rent of the office =$5000 The wage of each worker (programmer) =$3000 per…
Q: The Trouser Company has fixed costs of 2,000 per week. In addition, we have some information about…
A: Total cost is the sum of fixed cost and variable cost. Fixed cost is constant and does not depend on…
Q: Sketch a marginal cost curve for a firm that has constant marginal costs of production up to its…
A: Marginal Cost: It is the additional cost incurred by producing one more unit of output. It is…
Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…
A: The firms total costs are equal to the sum of its variable costs and fixed costs. Fixed costs are…
Q: Suppose that a firm has increasing marginal cost, and a positive fixed cost. What happens to minimum…
A: Marginal costing is a functional analysis procedure that often helps management in making…
Q: 1. Micky's auto mechanic shop has a daily total cost represented by: C = 98 + 2q + 2q². Shop's…
A: The AC is the average price of goods and services. At the point when we have numerous items to sell…
Q: John's total cost is $400 while his variable cost is $300 Calculate the value of John's fixed cost
A: The information being given is:- Total cost for John = $400 Variable cost for John's firm = $300 We…
Q: depict a ATC curve, one where the firm has negative profits (π < 0) at the profit maximizing output…
A:
Sunk costs: - Sunk costs are those costs that a company or business already incurred and these costs are not going to be recovered in the future.
Step by step
Solved in 2 steps
- In 1796, Gottfried Christoph Härtel, a German music publisher, calculated the cost of printing music using an engraved plate technology and used these estimated cost functions to make production decisions. Härtel figured that the fixed cost of printing a musical page—the cost of engraving the plates—was 900 pfennings. The marginal cost of each additional copy of the page is 5 pfennings (Scherer 2001). a. Graph the total cost, average total cost, average variable cost, and marginal cost functions. b. Is there a cost advantage to having only one music publisher print a given composition? Why? c. Härtel used his data to do the following type of analysis. Suppose he expects to sell exactly 300 copies of a composition at 15 pfennings per page of the composition. What is the greatest amount the publisher is willing to pay the composer per page of the composition?Classify the following milk bar short-run costs as fixed cost or variable cost Milk truck Fruit freezer Cost of milk sold each day ii) Assuming the following are the costs of your milk bar after the end of the second week answer the question below based on the following information. Fixed cost increased from 100 to 150 Variable cost increases from 220 to 300 Milk output increases from 450 to 620 a) What is the average total cost during the second week. Show your work b) What is the marginal cost. Show your workWhy is a normal profit considered an economic cost?
- Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus' output during a given day. I have completed the first two rows. Workers Output Marginal Total Average Marginal Product Cost Total Cost Cost $200 1 20 20 $300 $15 $5 2 50 30 $400 $8 $3.33 3 90 40 4 120 30 140 20 150 10 7 155 5Which of the following graphs shows average fixed cost?Using the multipoint curved line drawing tool, draw the firm's marginal cost curve. Label this curve 'MC'.
- Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determine the total fixed cost first.) Instructions: Enter your answers rounded to two decimal places. Total Average Fixed Cost Average Total Cost Marginal Cost Output Variable Total Cost Cost 1 $10.00 $9.76 $9.76 $19.76 2 $19.06 $14.53 $9.30 $29.06 3 $3.33 $12.63 $37.90 4 $2.50 $36.31 $11.58 $8.41 $46.31 $2.00 $44.30 $10.86 LOPizzas sell for $13 each. Pat’s cost of producing pizzas is given below. Complete the table:How would I describe these?
- Jane's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Quantity Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost (Vats of juice) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 0 0 30 1 5 35 2 15 45 3 30 60 4 50 80 5 75 105 6 105 135 On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use the green points…the various measure of the costComplete the table by filling in the average fixed cost, average variable cost, and average total cost. Instructions: Round your answers to 2 decimal places. Vintage Model Car Production Costs Output Total Fixed Cost (dollars) Total Variable Cost (dollars) Total Cost (dollars) Average Fixed Cost (dollars) Average Variable Cost (dollars) Average Total Cost (dollars) 0 $2,000 $0 $2,000 — — — 100 2,000 800 2,800 200 2,000 1,300 3,300 500 2,000 4,350 6,350