Suppose Kim is running a digital start up company. She had total costs of $10,000 providing service to 2,000 customers last month. Her company charges $32 a month to provide its services. This month she is predicting 3,000 customers. Her company has economies of scale if Select one: A. average total costs are more than $5. B. total revenue is $96,000. C. marginal cost is less than $32. D. total costs are less than $15,000. E. the number of customers is increasing more each month. Clear my choice.

Q: Use the information in the graph to the right to find the values for the following at an output…

A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…

Q: rkers) Output TFC ($) TVC ($) Total Cost ($) 0 0 50 0   1 8 50 40 90 2 20 50 80   3 28 50 120 170 4…

A: Given TFC = 50 TVC at 20 units = 80 TC = TFC + TVC  = 130

Q: 2. Fill in the table below. Output Fixed Cost 0 1 2 $120 Vanable Cost SO $60 $80 $90 $105 Total Cost…

A: In economics, total cost (TC) is the total cost of producing a given quantity of output. It is the…

Q: Use the following table to ccalculate  TVC - keep your calculation for follow up questions: Total…

A: Total variable cost is the cost that changes will the level of production. It increases with…

Q: Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for…

A: This can be defined as a concept that shows the cost incurred in the production process of a…

Q: #6 Multiple choice For each size plant a manufacturer could build, there is a different A. long run…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: A microbrewery was built in 2014 at a total cost of $650,000. Additionalinformation is given in the…

A: Weighted index for 2020 (in terms of 2000 indices) can be calculated as follows.

Q: Explain why understanding the cost curves and various types of costs is important for businesses…

A: The expenses that are being incurred for running a business and carrying out various transactions of…

Q: efficient scale is houses.

A: Efficient scale is the scale at which firm can produce its output at minimum average cost.…

Q: The daily demand function for x LED lights sold by a major retailer is p = 1275 -0.75 dollars, and…

A: The process by which a producer seeks to earn the highest possible profit from its operations is…

Q: Labor (workers) Output (frijoles) Total cost (dollars) 0 0 1,000 5 1000 3,000 10 3000…

A: ATC(average total cost) is found by dividing the TC(total cost) by Q(quantity).

Q: Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles,…

A: Since you have asked multiple questions, we would answer the first question for you. If you need the…

Q: The accompanying table gives cost data for a firm that is selling in a purely competitive market. If…

A: In perfectly competitive market, price is constant at all levels of output so it is equal to…

Q: 3.1 Every weekend more than 500 different vendors set up at the local farmers' market, selling a…

A: A market refers to a place at which the buyer and seller of a product or services comes in contact…

Q: You are the chief financial officer for a firm that sells digital music players. Your firm has the…

A: Average total cost (ATC) is the per unit cost, which is calculated by dividing the total cost of…

Q: In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of…

A: Given that, 1,000 units are produced at a cost of $8,000 and  1,200 units are produced at a cost of…

Q: A bicycle plant must produce 2000 bicycles per month to meet demand. The set-up costs for each…

A: Demand of bicycles per month: D = 2000   Set up cost for each production run: CS = $1160   Holding…

Q: Calculate and plot the following: No of units Total cost 0 2 1 9 2 12 3 15 4 20 5 30…

A: The total cost in any firm is equal to the sum of the fixed costs, like the cost of land, machines,…

Q: (1) Quantity of Output, Q (units) (3) (5) (2) Total Fixed Cost (S) Averoge Fixed Cost Average Total…

A: Costs are the expenses firms incur in the production of goods and services.

Q: A computer company produces affordable, easy-to-use home computer systems and has fixed costs of…

A: To create the table and analyze the costs, we need to calculate the total cost, marginal cost,…

Q: 2. Problems and Applications Q7 Your cousin Vinnie owns a painting company with fixed costs of $150…

A: Variable expenses vary according on the amount of product generated. Labour, commissions, and raw…

Q: PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data i Average Average Average IFixed…

A: The firms operating in a market incur two types of costs; fixed costs and variable costs. Fixed…

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.