Use the figure below to answer the following questions.Average cost (dollars per sweater)12 HSelect one:OA. Plant AOB. Plant BO C. Plant CO D. Plant DO E. none of the above1086420510ATCA ATCB ATCC ATCD15 20 25 30Output (sweaters per day)Figure 11.4.2Refer to Figure 11.4.2, which illustrates the short-run average total cost curves for four different plant sizes. Which plant has the lowest average total cost foran output rate of 5 sweaters a day?

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

Use the figure below to answer the following questions. Average cost (dollars per sweater) Select one: O A. Plant A OB. Plant B OC. Plant C OD. Plant D O E. none of the above 12 10 8 6 4 2 ATCA ATC ATCC ATCD 0 5 10 15 20 25 30 Output (sweaters per day) Figure 11.4.2 Refer to Figure 11.4.2, which illustrates the short-run average total cost curves for four different plant sizes. Which plant has the lowest average total cost for an output rate of 5 sweaters a day?

Use the figure below to answer the following questions. Average cost (dollars per sweater) Select one: O A. Plant A OB. Plant B OC. Plant C OD. Plant D O E. none of the above 12 10 8 6 4 2 ATCA ATC ATCC ATCD 0 5 10 15 20 25 30 Output (sweaters per day) Figure 11.4.2 Refer to Figure 11.4.2, which illustrates the short-run average total cost curves for four different plant sizes. Which plant has the lowest average total cost for an output rate of 5 sweaters a day?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

See Hint Suppose you are the owner of a firm producing jelly beans. Your production costs are shown in the table. Jelly Bean Production Вохes Average cost per box 100 $0.95 101 $0.96 102 $0.97 $0.98 103 Initially, you produce 100 boxes of jelly beans per time period. Thena new customer calls and places an additional order for jelly beans, requiring you to increase your output to 101 boxes. She offers you $1.75 for the additional box. Should you produce it? Choose one: O. A Yes, because $1.75 is greater than average total cost, O B. No, because $1.75 is less than average total cost. O C. Yes, because $1.75 is greater than the marginal cost. O D. No, because $1.75 is less than the marginal cost. 9 E. We can't say because we don't know average variable cost.
Please help for this mcq
Please answer for question 2 subsection e and f
Suppose a snowboard manufacturer increases its output by 1 snowboard per day. As a result, the total cost of producing snowboards each day rises from $100 to $110. The marginal cost of producing an extra snowboard is $ . (Only enter number; the $ sign has been provide for you.) Please answer neatly n give proper explanation within 40min
Question 6 Not yet answered Marked out of 1 Remove flag Drawinue nare If the average fixed cost of seven tubs of ice cream is $50, the total cost of zero tubs is: O a. $350 Ob. $250 c. $500 Od. $200 Clear my choice Next page
m 2 - Chapters 7-10 OPEN The table below shows cost data for producing different amounts of sofas. Use the given information to find the missing cost data. Quantity O 1 2 3 4 10 Total Cost in $ 60 75 104 281 DE G Average Fixed Cost in $ Average Variable Cost in $ a hp 30 IC 12 A 15 11.5 14.0000000000007 24 Marginal Cost in $ 52 125 15 I am finished 4:00 PM 74°F ^ ® # 10₁ 10/30/2022 A
The following table represents the short-run total cost schedule of a bottled water manufacturer. Study the table below and then answer the question. When output increases from 30 to 80 bottles of mineral water, the marginal cost of producing one of those 50 bottles of mineral water is: Labour (workers per day) Output (bottles of mineral Total cost (R) water per day 0 0 400 1 30 700 2 80 1000 3 120 1300 4 140 1 600 5 150 1900 a) R5 b) R6 이이 c) R12,50 d) R20
The total cost of Mr plow a snow removal business is given in the table below
Fill in the space (d) in the table below associated with the firm William Perry, Inc., that delivers refrigerators in the Chicago area, using the two inputs of labor and trucks. Number of Amount of Trucks Labor 2 2 2 2 2 2 2 0 1 2 3456 Total Output 0 75 (c) 380 (f) Average Product of Labor (a) (b) 100 (d) (e) 75 Marginal Product of Labor 100 50 (g) 0
Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100 1,000 $110 2,000 $125 3,000 $145 4,000 $175 5,000 $215 6,000 $285 a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $ Variable cost, 0 photocopies/month: $ Variable cost, 1,000 photocopies/month: $ Variable cost, 2,000 photocopies/month: $ Variable cost, 3,000 photocopies/month: $ Variable cost, 4,000 photocopies/month: $…
Output TC ($) 200 250 15 300 20 350 23 400 25 450 Refer to the information above to answer this question. If total variable cost decreases by 20% at all levels of output, what is ATC when output is 20? O a. $12 O b. $30 Oc. $10 O d. $16 O e. $80
IAN GE Student Resources - Faculty Resources - Academic Resources - Ime grupiI Delow IIUIUUES two piunt Sizes us musuuteu uy ACr UnU ACZ. AC1 AC2 AC1 AC2 LRAC Q1 02 Output per time period Refer to the graph above to answer this question. Which of the following statements is correct if a firm is operating at point a on AC1? Select one: O a. The firm is achieving MES. O b. Building a larger plant would result in lower long-run average cost. O c. Building a larger plant would not result in lower long-run average cost. od. The firm has achieved capacity output. O e. An increase in the output would not lower costs. Clear my choice Staut o gao