Moving to another question will s Question 25 Which of the following statements is true? In the short run, changes in output can only be brought about by a change in the quantity of variable inputs In the short run, there are variable costs but no fixed costs The long run is any period of time over one year The short run is always somewhere between six and twelve months

Moving to another question will s Question 25 Which of the following statements is true? In the short run, changes in output can only be brought about by a change in the quantity of variable inputs In the short run, there are variable costs but no fixed costs The long run is any period of time over one year The short run is always somewhere between six and twelve months

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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The per-unit cist of an item is its average total cost=(=total cost/quantity). Suppose that a new cell phone application costs $100,000 to develop and only $0.70 per unit to deliver to each cell phone customer. What will be the per-unit coat of the application if it sells 100 units? What will be the per-unit coat of the application if it sells 1,000 units? What will be the per-unit cost of the application if it sells 1 million units?
Remaining Time: 25 minutes, 27 seconds. * Question Completion Status: A Moving to the next question prevents changes to this answer. Question 1 Cost schedule Total variable Output (units per day) Total fixed cost Labor (workers) cost (dollars) (dollars) 20 1 4 20 25 6. 20 50 13 20 75 4 16 20 100 18 20 125 Using the data in the above table, the average total cost of producing 16 units per day is O $7.50. $7.00 $1.25. $6.25. A Moving to the next question prevents changes to this answer. 1599 DEC étv MacBook Air
12. Which of the following production function shows decreasing returns to scale? (a) f(r) = min{x1, 12}. 1/4 (b) f(z) = xỉ + x}/2 1/4 1/2 (c) f(x) = r1 + xj"x (d) f(x) = VE +a3.
An economist estimated the learning curve for the production of Tesla vehicles to be: AC 433,094 N-0.135 where AC = average production cost and N cumulative production. Data used was annual. Calculate the resulting learning rate. From this, we can conclude that AC declines about 13.5 percent per year due to learning AC declines about 9 percent per year due to learning. Othere is no learning effect. there are economies of scale in production. Show Transcribed Text Please answer the aboce question. "There are economies of scale in production" is the incorrect answer.
Q4 (i) A business manager determines that t months after production begins on a new product, the number of units produced will be P thousand,where P(t) =6t2 + 5t (t + 1)2. What happens to production in the long run ? (ii) A ruptured pipe in a North Sea oil rig produces a circular oil slick that is y meters thick at a distance x meters from the rupture.Turbulence makes it difficult to directly measure the thickness of the slick at the source (where x = 0),but for x > 0,it is found that y =0.5(x2 + 3x) /x3 + x2 + 4x.Assuming the oil slick is continuously distributed,how thick would you expect it to be at the source?
QUESTION 9 When the lead time doubles, the economic production quantity will increase. True O False QUESTION 10 The annual demand for ice cream bars is 30,000 bars and the ordering cost is $200. The holding cost per year as a fraction of the unit cost is 0.30 or 30% and the unit cost per bar is $10. The economic order quantity (EOQ) is 2,000 bars. What is the annual ordering cost? Select the closest answer. O $6,000 $1,500 $3,000 Ⓒ$600,000
Jason owns a lamp store. His total costs are $145,000 per year, and his fixed cost are $19,200. His production is 12,500 per year. This means that his average variable is how much? (hint: enter your answer in two decimals) The answer should be 10.06, please explain how to get to the answer
Unit Costs 0 Q3 Quantity Refer to the above graph. There are constant returns to scale: Only from Q3 to Q4 From Q₂ to Q4 Before Q₂ After Q4 LRATC Only from Q₂ to Q3
An economist estimated the learning curve for the production of Tesla vehicles to be: AC = 433,094*N-0.135 where AC = average production cost and N = cumulative production. Data used was annual. Calculate the resulting learning rate. From this, we can conclude that ⒸAC declines about 13.5 percent per year due to learning ⒸAC declines about 9 percent per year due to learning. Ⓒ there is no learning effect. there are economies of scale in production.
What do constant returns to scale indicate that a firm is experiencing? 1S an increasing marginal product per unit costs of production that are decreasing as the scale of output expands per unit costs of production that remain stable as the scale of output expands per unit costs of production that are increasing as the scale of output expands
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