Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output is 400. What is the numerical value of total variable cost?

Q: Answer the following with the required graph. a) Describe the shape of the average fixed cost. b)…

A: The money spent to purchase the fixed and variable factor of production to produce the goods and…

Q: In the following table, complete the marginal cost, average variable cost, and average total cost…

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

Q: Average total cost, average variable cost marginal cost and marginal product b. The relationship…

A: Average Total Cost or Average Cost is the total cost (TC) divided by the number of units produced…

Q: How is the difference between average total cost and average variable cost impacted by an increase…

A: Average total cost is the total cost per unit whereas average variable cost is the total variable…

Q: 9 35 30 25 20 15 10 5 O O 2 3 Quantity (Vats of juice) 10 5 6 Marginal Cost Average Variable Cost…

A: The Average Cost is the per unit cost of production acquired by separating the total cost (TC) by…

Q: Explain the relation between average variable cost and marginal cost for both the short-run and…

A: Cost Curves show the relation between the costs that a firm incur in the process of production and…

Q: How does fixed cost affect marginal cost? Why is this relationship important?

A: Fixed cost is the cost which does not change with the change in the output.Marginal cost is the…

Q: What is the difference between sunk cost and fixed cost? Explain with examples.

A: Sunk costs and fixed costs are two kinds of expenses borne by a corporation in the different…

Q: Hello, I have finished reading chapter6: product costs and have some trouble understanding the short…

A: Average variable cost(AVC), average total cost (ATC), and marginal cost(MC) all these curves are…

Q: Explain the difference between total cost, average cost, and marginal cost.

A: Economic cost: The economic cost is different from the accounting cost. Economics cost involves…

Q: Copy the table below into your answer booklet and fill in the missing figures: output total cost…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: If the marginal cost of production is greater than the average variable cost, what does this tell…

A: Variable costs are the ones which change with the change in the level of output, i.e., it is output…

Q: If the marginal cost is increasing does this tell you whether the average variable cost is…

A: Economic costs involve not just the accounting costs but also the opportunity cost of making one…

Q: What does average fixed cost fall with increase in output?

A: Fixed cost per unit of output is known as average fixed cost. Because the same amount of fixed costs…

Q: Why does the average fixed cost falls with the increase in output?

A: Fixed cost is that cost which doesn't Change in the short run as the production proceeds.  Average…

Q: Define and graph total cost, average costs, and marginal cost.

A: The cost of producing/manufacturing all the units of a good by a firm is estimated by the total…

Q: Suppose, Home Style is a well-known furniture manufacturer in the Sultanate. To meet the increasing…

A: The key motive of the firms operating in a market is to earn profits from the sale of goods and…

Q: When the marginal product of labor is increasing marginal cost is decreasing constant increasing at…

A: The marginal cost is the cost of producing an additional one unit of output. Marginal products of…

Q: What will happen to the average total cost if the average variable cost is falling? a. Rises B.…

A: The average Total cost if the the average variable cost is falling is also falling.

Q: Ifmarginal cost is below average total cost, average total cost will

A: During the production of the communities the overall cost incurred is referred to be as a total cost…

Q: Which of the following cost curves is never U-shaped? a. the average fixed cost curve b. the…

A: The expenses that are being incurred for carrying out daily transactions of a business is being…

Q: Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.…

A: