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: 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: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

A: Fixed cost is the cost of production that doesn't vary with the level of production and exits even…

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: Calculate average cost if average fixed cost is $33 and average variable cost is $40

A: The information being given is:- Average fixed cost = $33  Average variable cost = $40 Average cost…

Q: Define economies of scale

A: Economy of scale is a microeconomic term used as an important element of productivity growth.…

Q: Calculate average variable Cost if total variable cost is $1000 and output is 20

A: The average variable cost is the cost per unit of output. Total variable cost is the total…

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…