Fifty years ago, Grandma Bell purchased a set of gold-plated dinnerware for $48, and last year you inherited it. Unfortunately a fire at your home destroyed the set. Your insurance company is at a loss to define the replacement cost and has asked your help. You do some research and find that the Aurum Flatware Cost Index (AFCI) for gold-plated dinnerware, which was 127 when Grandma Bell bought her set, is at 1989 today. Use the AFCI to update the cost of Bell’s set to today’s cost to show to the insurance company.

Q: Between 2012 and 2013, the cost of a typical consumer’s market basket in Quarterville increased from…

A: Index number shows the change in a variable over time. It can be calculated as follows: Here, I01 =…

Q: why is the fixed cost 10?

A: Fixed cost doesn't change with the change in the number of output.

Q: Calculate the value of variable cost for the when the fixed cost is $22 and the total cost is given…

A: We know that the total cost of the firm is given as :- Total fixed cost which remains same…

Q: The average cost for a firm is given as a function as follows:- AC 3Q²-6Q + 20 = Calculate the Total…

A: WE Know that the average cost simply defined as the total cost per unit of output.  That is :- AC =…

Q: Suppose the cost function is given as C= 135+75Q-15Q2+Q3. Prepare a cost schedule (table) showing…

A: Cost function is define as the minimized cost of production of a unit of any goods and services, for…

Q: The total cost for a production plant that supplies hydrogen to the refining industry is estimated…

A: a) Following information is given: Equipment cost = $17.8 million Total estimated cost = $55.4…

Q: Referring to the cost table above, what is the average total cost if quantity produced equals 300…

A: Total cost of a firm is the cost incurred by the firm by producing a certain amount of output. The…

Q: Calculate the level of average cost to produce 39 units of output if the total cost function is…

A:

Q: Find the minimum value of the average cost for the given cost function on the given intervals. C(x)…

A: (a) C(x) =x3+28x+128minimum value of the average cost over the interval 1≤x≤10Finding out average…

Q: Find variable cost if total cost and total fixed cost are $440 and $80 respectively

A: The information being given is:- Total cost = $440  Total Fixed cost = $80 We have to calculate…

Q: One of the components of direct cost of construction projects is equipment cost where a contractor…

A: The cost of rented or owned construction equipment, as well as the costs of fuel, loading,…

Q: Calculate the total cost function if average cost function is :- 36Q3 - 5Q2 + 10

A: We are given with the average cost function:- 36Q³ - 5Q² + 10 Also we know that :- TC = AC * Q

Q: referring to the cost table above, what is the average variable cost if quantity produced equals 400…

A: Average variable cost varies with the output produced

Q: If fixed cost is half the value of variable cost and variable cost is $2200 Find total cost

A: The data presented in the question is as follows:- Variable cost = $2200 Fixed cost is half of…

Q: Use the cost index method to estimate the current construction cost for a building equivalent to one…

A: Cost indices are sometimes also referred to as input indices. The cost index describes changes in…

Q: Suppose the cost function is: C(q) 64.5g + 11600 %3D Using your average cost function, A(q) , find…

A: Cost function : C(q) = 64.5q + 11600 Average cost function, A(q) = C(q)/q = (64.5q+11600)/q = 64.5 +…

Q: A manufacturing Company has estimated its quarterly demand (units) as shown in the following table.…

A: Before Quarter one Production should be 1600

Q: out the following cost chart. Round to the nearest tenth.

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Q: If the average variable cost is OMR 74 and total fixed cost is OMR 100 at 5 units of output, then…

A:

Q: A study of 86 savings and loan associations in six northwestern states yielded the following cost…

A: Ans. To evaluate the variables that are statistically significant in explaining the variations is…

Q: The fixed cost incurred by the firm is $315 and the variable cost when second unit is produced is…

A: We are given that:- Total fixed cost = $315 Total variable cost = $55 We have been asked to…

Q: The Precision Machine Tool Manufacturing Company has the following total cost function:…

A: The total expenditure (cost) expended on capital to achieve a certain amount of production, both…

Q: When the quantity of a variable input is increased from 4 to 6 units, the total output increases…

A:

Q: If total cost is $370 Find the value of total fixed cost if total variable cost is $210

A: According to the above given question, the values given are:- Total cost = $370 Total fixed cost = ?…

Q: Given that fixed cost =230 and variable cost=12Q ; the total cost of producing 30 units of output…

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Q: The cost of lumber per million board feet (MBF) in January 2007 was $464.49 when the value of the…

A: MBF = 464.49 MCI = 2583.52

Q: Consider the following total cost function: TC = 1500 + 300Q -3602 + 203 What is the quantity that…

A: In order to find the quantity at which Marginal Cost is minimised, we will first find the MC…

Q: Canning companies sell one can at a price of 30 dinars, and the fixed costs are 400 thousand dinars…

A: Price = 30 fixed Cost = 400,000 Variable Cost = 10 Sales amount = 50,000

Q: Derive (Mathematically and graphically) the cost minimization condition.

A: Let’s assume the following in order to derive the cost minimization conditions.

Q: Solve the attachment.

A: In the production process, there are different costs related to it, such as variable cost, fixed…

Q: how do you know the total variable is 50 when finding the total fixed cost

A: TC = AC * Q ------------------- MC is a change in TC due to changing quantity by one unit.  MCn =…

Q: Question 1. cost index is 1027 today and was 1450 four years ago, what is the estimated costs of the…

A: Given cost of the project 4 years ago = 250000 $ Cost index today 1027 Cost index four year ago =…

Q: If you know that with 8 units of output, average fixed cost is $30 and average variable cost is $80,…

A: Average Fixed cost (AFC) is the fixed cost per unit of output. Average Variable cost(AVC) is the…

Q: Lisa and Adam started a business that manufactures cutting tools. They sell the tools for $80 each.…

A: Use Formulas:   Total Variable Costs: TVC=VC x X   Total Costs: TC=FC+TVC   Total Revenue: TR=S x X…

Q: An assembly line robot arm with a first cost of $75,000 in 2001 had a cost of $89,750 in 2017. If…

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Q: Ashley Furniture hires you as consultants to help them sell their new coffee table. Through a…

A: P Q 220 110 160 130 Equipment Cost = 3000 Each individual table Cost = 90

Q: It is given that the total fixed cost incurred by the firm is $300 and the total variable cost is…

A: The addition of TFC and TVC gives the total cost incurred by the firm for a perticular number of…

Q: An engineer who owns a construction company that specializes in large commercial projects noticed…

A: Per quarter growth, g = 2.6% = 0.026 Number of quarters in 2 years, n = 8

Q: Cost function C = 80q - 3q2 + q3 If MC function is 80-6q+3q2, At what output level the average cost…

A: Answer to the question is as follows:

Q: In line with the information including the production amount and total cost of the firm and the…

A: In order to form the total cost equation, we will take the given data and make a regression…

Q: An engineer who owns a construction company that specializes in large commercial projects noticed…

A: Interest is the sum of money that a lender charges from the borrowers for using its money for a…

Q: During the last few days the Superior Company has been running into problems with its computer…

A: 'A' is a total cost of 1 unit and we know the average total cost from the table for 1 unit and that…

Q: A business incurs the following costs per unit: Labor  $125/unit; Materials $45/unit and rent…

A: Total Variable Cost: It is the total cost incurred to purchase a variable factor of production, for…

Q: Which of the following is most likely to be a variable cost for a firm? an annual payment for…

A: Fixed cost does not depend on production whereas variable cost does. Variable cost increases with…

Q: Calculate the average cost when the total cost for the production of 3 units is $75

A: # Average cost is given as the ratio of total cost and the total quantity produces. That it:- AC =…

Q: Given below is a cost schedule of an automobile company operating in Kota Kinabalu. Total Product…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Calculate the total fixed cost incurred by the firm if total cost is $700 and the total variable…

A: We are given with the information as:- Total cost (TC) = $700 Total variable cost (TVC ) = $470 We…

Q: Marc Nerlove conducted a classic study on economies of scale in the electric utility industry. I…

A: Economies of scale occur when the average total cost (ATC) decreases as output (Q) increases…

Q: . For the cost function C(Q)= 100+2Q+3Q2 the average fixed cost can be represented by the following…

A: Average Fixed Cost = Total Fixed Cost/Output Total fixed cost = 100 AFC = 100/Q