FIRM X SPENT $100m to upgrade its equipment last year. this year, the amount represents: a. An accounting cost b. An opportunity cost c. An economic cost d. A sunk cost

Q: Cost (in dollars) 12 Plant 1 Plant 2 Plant 3 SRATC Refer to Figure 7-5. Which plant size is optimal…

A: LRAC stands for Long-Run Average Cost. It refers to the average cost per unit of output when all…

Q: Which of the following is a variable cost? O Advertisement cost Health insurance O Material cost O…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: -*s) A Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate…

A: Here we calculate the following overhead rates by using the given information so the calculation of…

Q: Hello everyone, I need a small help answering the following question: 6.1 Given the following…

A: Given fixed cost = $200 Variable cost = $40

Q: What are the fixed and variable cost?

A: Fixed costs are that cost which remains same and incur even when there is no production.  Variable…

Q: A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in…

A: Answer to the question is as follows:

Q: Dan wants to expand his business and use the 5 acre property he owns and rents to a local cattle…

A: Implicit cost refers to the opportunity cost of resources, which are owned by the firm or an…

Q: PLANT         OUTPUT (TONS)                CAPITAL ($)               LABOUR (HOURS) 1…

A: Plant Outputs(Tons) Capital($) Labor Hours(Hrs) Q*=lnQ K*=lnK L*=lnL 1 605.3 18891 700.2 6.41 9.85…

Q: When marginal product increases, marginal cost increases. True False

A: Marginal product is the additional output produced by the additional worker or the change in the…

Q: A new machine increases fixed cost and may or may not increase ATC as the…

A: The cost of production is the cost incurred in the process of production in the economy by a firm.…

Q: Diseconomies of scale are present when. Select one or more: O a. total costs fall as output rises O…

A: Large firms may experience economies of scale or diseconomies of scale as their output grow.

Q: q3- The average total cost curve is increasing when marginal cost is:   Select one: a.…

A: The relationship between ATC and MC is: When the MC curve is above the ATC curve then the ATC…

Q: a. Firm A is producing 20,000 units of output, incurring a total cost of $2,000,000 and total…

A: Total cost is the cost of production of total quantity.  Average cost is the cost of production per…