A shoe factory produces 20 units of output. Its average fixed cost (AFC)- $25, everage total cost (ATC) - $35, and marginal cost (MC) - S15. Theshoe factory's variable cost isOa. 510O b.$500OC S200

Output: Q=20 AFC=$25 ATC=$35 MC=$15 Variable cost is that cost which varies with output…

Answered: Hactory produces 20 units of output.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Please don't provide handwriting solution
The lawn ranger , a landscaping company , has total costs of $15,000 and total fixed cost of $13000 .The lawn ranger's toal variables cost are a. indeterminate because the firm's output level is not known.b. $3,000.c. $5,000.d. $2,000.
don't use Al bot or chat GPT otherwise downvote.correct answer will get instant upvote
Output TFC TVC TC MC АТС A 25 25 ---- -- ---- -- B 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the total cost at point E? 135 125 185 Cannot be determined
CEO of Ganymede company produces goods with 500 customers where the number of customers is equal to Q produced, with the cost function TC = 2Q2 + 400Q + 1,300,000. Questions a. Determine fixed costs, variable costs and average costs that the customer musr pay. Describe the calculations! b.If the item sells for 5,000 and 7,000, determine the position of the company and can the company grow?
A cost that changes with the level of production is called a(n)____cost a.variable b.average total c.marginal b.fixed
A small company holds the total fixed cost of TL 45 and short-run average variable costs as given in the following table Please fill in the rest of the table Output AVC AFC ATC TVC TFC TC MC 17 15 3. 14 4 15 19 6. 29 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
1. 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 DFixed Costs 60,000 80,000 100,000 130,000Variable Costs/unit30 20 15 10 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?
If a business is experiecing diminishing marginal product of labor then A. its fixed costs must be increasing B. its total cots must be decreasing C. its marginal costs must be increasing D. its implict costs must be decreasing (please explain each choice)
ips Under decreasing returns to scale, average cost cost curve. as the quantity produced increases. Over this range of output, the marginal cost curve is Grade It Now the average Save & Continue
In order to produce 100 oatmeat cookies, GoodieCookieco inours an average total cost of 025 per cookie The company's margnal cnt constant at $0.10 for all oatmeal cookies produced. The total cost to produce 50 oatml cookies is Select one WAS20 Oh S60 Oc25 Od $50 Clear my chooice
a If average total cost is $100, average variable cost is $30 and output is 50 units. What is the firm's total fix cost?

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Hactory produces 20 units of output. Its average faed cost (AFC) - $25, everage total cost (ATC) - $35, and marginal cost (MC) – $15. The shoe factory's veriable cost is OaS10 Ob.$500 OCS200