Q: firm's average cost (AC) per unit of output depends on the number of hours of skilled labor (S) and…
A: AC = 3S2+2U2- 2SU-2S-6U+20
Q: why is the fixed cost 10?
A: Fixed cost doesn't change with the change in the number of output.
Q: What is the average total cost when producing three units? average total cost: $
A: What is the total cost when producing zero units.
Q: If Mark produces five pairs of earrings, his total costs are a. $370. b. $360. c. $320. d.…
A: Answer- Need to find- If Mark produces five pairs of earrings, his total costs are Given in the…
Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The average cost per…
A: Answer - Given in the question - TC = $1,000 + $6X Here TC = Total cost X is no. of widget Need…
Q: Find total cost if average cost is $11 and the output is 24 units
A: Average Cost (AC): - it is the average value of total cost incurred on a specific unite of output.…
Q: When a firm produces 600 widgets with total cost of $1,300 and fixed cost of $800, what is the…
A: The variable cost per unit is the average variable cost.To calculate the average variable cost,…
Q: An economist estimates the cost function for Redwood Hill Farm, LLC as shown below. Redwood Hill…
A: For a specific production of a commodity, cost refers to the expense made by a producer on factor…
Q: Marc Nerlove conducted a classic study on economies of scale in the electric utility industry. I…
A: Economies of scale happen when the average total cost decreases when output increases Diseconomies…
Q: During the last few days the Superior Company has been running into problems with its computer…
A: Some basic concept of cost theory are Total cost TC = total fixed cost FC+ variable cost VC.…
Q: Output Total Cost 0 24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The…
A: Fixed cost is the cost that does not vary with the output produced.
Q: A firm has a production function QL,K=100L0.4K0.6 with a cost function CL,K=5L+30K. What is the…
A: Q(L,K)=100L0.4K0.6 C(L,K)=5L+30K w=5 r=30 Q=1000 MPL=dQ/dL=0.4(100)L-0.6K0.6 MPL=40L-0.6K0.6…
Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per…
A: Given data: Total cost function TC=$1000+$6X Quantity X=3000 units
Q: Adam operates a factory that produces beach towels. His current level of output equals 2000 towels…
A: Fixed costs incorporate quite a few costs, including rental rent installments, compensations,…
Q: 12. If average fixed cost is 40'and average variable cost is 80/for a given output, we then know…
A: Average total cost refers to the cost per unit. In other words, the average total cost is the sum of…
Q: 20.Calculate the average fixed cost (AFC), for a level of production Q = 20, knowing that the total…
A: Given: TC=200+3Q+2Q2 Level of production (Q)=20
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: A firm estimates its production function as Q = 2.4 + 30*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2.…
A: Q = 2.4 + 30*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2. Total cost is TC = $2.5*L + $2*K + $.75*F. w =…
Q: QUESTION Sahar is analyzing the probability to open her own beauty salon. If she chooses to operate…
A: Answer - Given in the question - Rent = Rs 70,000 PM salary of staff = RS 30,000 pm Earning = RS…
Q: (2) Minimize the average cost for the following total cost function (TC) by finding out (a) average…
A: Since you have asked a question with multiple subparts, we will solve the first three subparts for…
Q: Answer the question on the basis of the following cost data. Average Fixed Average Variable Output…
A: Average variable cost (AVC): - it is the average value of the cost incurred due to the employment of…
Q: For the cost function C(Q) = 100 + 2Q+3Q, the total fixed cost of producing 10 units of output is O…
A: Answer to the question is as follows:
Q: A business incurs the following costs: • Labor: $120/unit • Materials: $45/unit • Rent:…
A: Total fixed costs are the costs that are unavoidable and have to paid irrespective of the level of…
Q: Consider the following cost function: C(Q) = 1000+0.1Q I| Calculate total costs when Q=100 O 1,001…
A: Total cost function shows the relationship between cost and output produced. To determine cost at a…
Q: Consider the following information about the input choices and prices, produci the same output in…
A: Cost minimization refers to optimal usage of factors of production such that for production of a…
Q: The total cost function for a product is given by C(x) = 3x3-9x² -243x + 1229, where x is the number…
A: Given cost function C(X)=3X3-9X2-243X+1229TC should be 50000 at least
Q: referring to the cost table above, what is the total cost if quantity produced equals 100 units? a.…
A: Total cost is the overall cost which incurs in the course of production.
Q: Ouput Total Cost 0 $ 10 1 20 2 28 3 38 4 53 5 73 6 98 Refer to the provided table. The total…
A: Variable cost are the cost which is variable in nature by changing this factor we increases and…
Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…
A: Cost is minimized when isoquant is tangent to the isocost line. The isoquant Q = 100 is tangent to…
Q: When output increases from 20 to 30 units the total cost increases from $500 to $600. Assuming the…
A: Average Total Cost (AC): - it is the average value of total cost by producing a specific unites of…
Q: ips is described in the table that follows -m's fixed costs equal $10,000 per day. Ca e average…
A: Computation with the help of following formula, AVC = VC/O ATC = TC/O AFC = FC/O VC = TC-FC…
Q: A firm's average cost (AC) per unit of output depends on the number of hours of skilled labor (S)…
A: Given, AC = 3S2 + 2U2 - 2SU - 2S - 6U + 20 -----------Equation i According to the…
Q: Find total cost if output is 39 units and average cost is $22
A: The Given information is as follows:- Output of firm = 39 units Average cost = $22 We have to find…
Q: The total cost of producing mobile phones can be represented by TC = 50 +2q. The MC of the 5th…
A: Following are the given values: Total Cost = 50 + 2q Maginal Cost = ?
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: Consider the following cost information for Yasir’s tea stall. (Cups of tea per hour)…
A: The cost is the money spent on factor of production to produce the goods and services. There are two…
Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per…
A: Answer: Given, Total cost function: TC=$1,000+$6X Calculation: To calculate marginal cost, derivate…
Q: Answer the question on the basis of the following cost data. 13 Total Cost $24 3. 1. 48 2. 3. 54 4.…
A: Average total cost refers to per unit cost of production . It is estimated by dividing total cost by…
Q: 15) For any cost function, you can find min ATC by etting ATC = and solving for q. %3D
A: Average total cost = total cost/ quantity
Q: Total Total Output Fixed Variable (Q) Costs Costs 0. $50.00 $0.00 1 $50.00 $70.00 $50.00 $120.00…
A: Fixed cost is the cost that remains constant and stays the same at all levels of output. Variable…
Q: The total cost function of firm is TC = 60 + 6q. If the firm produce 10 units per day then calculate…
A: Below is the given function: Total cost, TC = 60 + 6q Quantity = 10 units per day
Q: A garment factory has total fixed costs of $300,000 per year. The firm’s average variable cost is…
A: The provided information are: Total fixed cost = $300000 Average variable cost = $80
Q: For each of the following total cost curves, determine if the technology exhibits increasing,…
A: Return to scale: It means the rate by which output changes if all inputs are changed by the same…
Q: Sea lions have been depleting the stock of steelhead trout. One idea to scare sea lions off the…
A: a. The total cost can be calculated by multiplying each unit with the total cost of producing each…
Q: Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, what is Average Total Cost (ATC)? A. ATC…
A: Average cost or unit cost is equal to total cost divided by the number of units of a good produced…
Q: Al Mardoof Company paid different types of costs for different output levels as shown in the given…
A: From the graph, we can see that the variable cost is depicted by the Green line. The cost is on the…
Q: Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x2 dollars to manufacture…
A: Answer: Given, Cost function: Cx=400,000+180x+0.001x2 (a). To find the marginal cost function let us…
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- Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the price of the output is $1, how many units of output should the firm produce to maximize profit? What is the firm’s profit level?Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the firm produces 265 units of output and sells it at $1 per unit, is it making profits or losses? How much are they making?
- . A call center in India used by U.S. andU.K. credit card holders has a capacity of1,400,000 calls annually. The fixed cost ofthe center is $775,000 with an averagevariable cost of $2 and revenue of $3.50 percall.(a) Find the percentage of the capacitythat must be placed each year tobreak even.What is the fixed cost? what is the AVC quantity of 10 quantity. Total cost 0. 1000 10. 2000 20. 4000ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above
- 180.00 Short Run Cost Curves Numerical Data Labels Are Adjacent ToTheir Associated Markers (Markers Are The Squares, Dots, or Triangles On The Curves) MC AVC ATC 162.60 160.00 140.00 130.20 120.00 101 40 100.00 92,56 90.60 80.00 85.80 84.92 80.91 80.60 77.74 76,20 16.20 77,68 60.00 61.80 54.60 54.60 48.60 40.00 43.80 40.20 40.20 37,80 36.60 36.60 37.80 2.20 20.00 1.40 0.00 13 15 16 17 18 19 20 21 10 11 12 14 Quantity The figure shows a competitive firm in the paper clip industry. The price of a paper clip is $130.20. The firm's profit is O• $548.20 O • $751.05 O• $892,80 O • $1,096.24 180.00 Short Run Cost Curves Numerical Data Labels Are Adjacent ToTheir Associated Markers (Markers Are The Squares, Dots, or Triangles On The Curves) 160.00 162.60 MC AVC -ATC 140.00 130.20 120.00 100.00 101.40 92.56 80.00 RS 80 90.60 s0.91 84.92 16,20 80.60 774 76.20 77.68 60.00 54.60 61.80 54.60 40.00 48.60 40.20 43.80 37.80 40.20 36.60 20 36.60 20.00 140 0.00 10 11 12 13 14 15 16 17 18 19 20 21…TC 400+150Q-3Q2 +0.02Q3 400 Based on this equation, find total fixed cost calculate total fix cost -VT Company's breakeven point is 4,000 units. It's product sells for $20 per unit and has a variable cost of $15 variable cost per unit. What is the company's total fixed cost amount? O 40,000 O Not enough information O 80,000 O 20,000 60,000
- If output is 34 unit and total cost is $1300 Find average CostE-commerce has had an explosive growth in the last year due to the pandemic. Many different retail companies with home delivery have had a significant increase in sales. Imagine such a company with home delivery by trucks. Each truck costs NOK 600 per hour including all costs. The average distance per trip is 40 KM and they deliver approximately 60 packages per trip. a. Calculate the cost per delivery. Make your own assumptions for the parameters that affect the time of the processes, like speed, loading time and unloading time. What would be their price per delivery, if they want a profit of 5%? b. Discuss the risk for the transport provider in your price calculation.In the attached table, from 200 to 300 units of output, the average cost of production is in the short run. Question 35 a rising b C d Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. falling constant Output 0 indeterminant 100 200 300 400 Total Cost $5,000 $5,700 $6,300 $7,100 $8,000 □ Variable Cost $0 $700 $1,300 $2,100 $3,000