Fill in the table below. Assume fixed cost is $100 and price is $64. Instructions: Round your AVC, ATC answers to the nearest whole number. TABLE 1 Output 1 2 3 A LO 5 6 Variable Cost $30 50 80 125 190 280 Fill in the table below. Total Cost Average Variable Average Total Cost Cost Marginal Cost urado correctly
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- 9. Firm's Cost Schedule Gilberto'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 (Vats of juice) (Dollars) (Dollars) (Dollars) Average Variable Cost Average Total Cost (Dollars) (Dollars) о 0 30 1 2 3 4 5 100 135 ' བྷ ཐཱུ བྷཱུ ཋ ཏྟཱ ཤྲཱ 10 40 55 45 75 70 100 130 165 On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Gilberto'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 (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice. Cast 8 20 я 20…13. Which diagram correctly shows the relationship between marginal cost and average cost? £ S marginal cost average cost output output marginal cost average cost 15 £ D B average cost marginal cost output marginal cost average cost outputIke's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Average Total Cost (Dollars per bike) Number of Factories Q = 100 O = 200 O = 300 Q = 400 O = 500 O = 600 1 260 200 160 200 280 400 2 330 240 160 160 240 330 400 280 200 160 200 260 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ per bike. kes Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce using On the following graph, plot the three short-run average total cost curves (SRATC) for Ike's Bikes from the previous…
- $22 00 20.00 18.00 Which size bookstore is more likely to experience diseconomies of scale? Long-run Average cost OA Abookstore selling 1,000 books per month B. Abookstore seling 20,000 books per month C. Abookstore selling 40,000 books per month 1,000 20.000 Quantity of books sokd per month 40,00D,000 D. Abookstore seling 80,000 books per month Average cost2. Mr. Jack is in the process of expanding his manufacturing business. He decided to open a plant in the coming year. He has four locations in mind. The costs information for these locations is in the following table. Locations A B C D Fixed Cost 60,000 80,000 100,000 130,000 Variable Costs/units 30 20 15 10 a. i. Write an equation to represent the total costs for each location.ii. Draw the total costs lines for each location on the same axes. (Use output ranges of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis. iii. Over what range of output is location A the most preferred location?iv. Over what range of output is location B the most preferred location?v. Over what range of output is location C the most preferred location?• Calculate TC, AC, MC, AVC, AFC, and graphically shows the calculated and given costs. Quantity Fixed Costs S Variable Costs $ 300 1 300 50 300 90 300 120 300 150 300 190 300 240 300 290 8. 300 350 N3 4 56 70
- 8. Consider a firm's short run and long run average costs depicted below: 300 270 240 210 180+ Wunt 150 120+ 90 60 30 ---- W X AC LRAC 200 400 600 800 1000 1200 1400 1600 1800 2000 # of units Suppose this firm has been producing 400 units per month for a long time. If it decides to increase its output to 800 units per month, then its average cost will O A. fall from $300/unit to $150/unit initially, then rise to $240/unit eventually. O B. fall from $300/unit to $60/unit initially, then rise to $240/unit eventually. O C. fall from $300/unit to $60/unit and remain there. O D. fall from $300/unit to $240/unit and remain there. O E. rise from $150/unit to $240/unit initially, then fall to $60/unit eventually. OF. rise from $150/unit to $300/unit initially, then fall to $60/unit eventually. O G. fall from $150/unit to $60/unit and remain there. OH. rise from $150/unit to $240/unit and remain there.Table 7 Jimmy's Gigaplots Factory Quantity of gigaplots 1 ~ 3 2 4 5 679 BAC Select one: Fixed Cost O a. $22.17 O b. $22.57 O c. $16.34 O d. $22.00 aguila Variable Cost $13 $28 $64 $108 $133 Total Cost $38 $70 $110 $185 Average Average Fixed Variable Cost Cost Refer to Table 7. What is the average total cost of producing 6 gigaplots at Jimmy's Gigaplot factory? Average Total Margina Cost Costm 2 - Chapters 7-10 OPEN The table below shows cost data for producing different amounts of sofas. Use the given information to find the missing cost data. Quantity O 1 2 3 4 10 Total Cost in $ 60 75 104 281 DE G Average Fixed Cost in $ Average Variable Cost in $ a hp 30 IC 12 A 15 11.5 14.0000000000007 24 Marginal Cost in $ 52 125 15 I am finished 4:00 PM 74°F ^ ® # 10₁ 10/30/2022 A
- Programmers Websites Marginal Product Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 - - 4000 - - - - 1 2 2 2000 6000 2 6 4 4000 8000 3 14 8 6000 10000 4 20 6 8000 12000 5 24 4 10000 14000 6 26 2 12000 16000 Webby pays $4,000 a month in rent for office space and equipment. It pays each programmer $2,000 a month. There are no other production costs. Fill in the rest of the columns.Cost Per Year O O O 1 At what level of output does average total cost equal marginal cost? ♂ Q4 QQQQ Q8 TC VC FC OutputBob produces Blu-ray movies for sale, which requires a building and a machine that copies the original movie onto a Blu-ray. Bob rents a building for $60 per month and this is his fixed costs. His variable cost per month is given in the accompanying table. Quantity of Blu-rays Variable Cost 10 200 20 380 30 540 40 720 50 920 60 1140 70 1380 80 1640 Assume that Bob can only ptoduce the quantity listed in the table. Assume current market price is $21, what's Bob's profit? O 70 130 Need more information to tell.