Variable Costs Average Variable Cost Production Data Production Data The $60 per worker a day Production Data Workers Cars Washed Fixed Costs 1 2 23 3 42 $600 a day for the car wash 4 64 5 80 6 90 In class, we learned about different kinds of average and marginal costs. 7 98 8 96 Randall Can I ask you about some of your average variable costs? Randall Sure! I remember from my economics classes that average variable cost (AVC) is equal to: Тy Okay, can you tell me the average variable cost of washing 90 cars? (Round to one decimal place. Click the Production Data tab to access the car wash data.)

Q: Calculate the value of total cost if average cost is $42 and total units is 5

A: In the above given question, we are given with the values of average cost and total units as:-…

Q: If you were a taxi driver, the daily revenue and cost are as the following: Revenue: $250 Variable…

A: For the profit maximization process, so as to operate the business today, variable cost has to be…

Q: Calculate the value of average cost when the value of total cost is $100 and the no of units are 10

A: The average cost (AC) refers to the total cost per unit of output produced. The formula for AC is as…

Q: Define the term semi-variable costs?

A: The costs incurred by a producing agent in the procurement of factor inputs for the production of a…

Q: If total cost is $3000 and fixed cost is $1000 Calculate variable cost

A: The data presented in the question above is:- Total cost incurred = $3000 Fixed cost = $1000…

Q: If total cost is $100 and output is 13 units  Calculate the value of average cost

A: The given information is as follows:- Total cost of the firm = $100 Output = 13 units  We need to…

Q: A firm manufacture robots, for which $10000 machinary is used. The additional per unit cost is $100.…

A: Fixed cost of production  = $10000 Variable costs  of production = $100 Number of units produced = 5

Q: A cost function is given. C(q) = 3800 + 7q – 0.03q² + 0.0003q³ (a) Find the average cost and…

A: Disclaimer :- as you posted multipart questions we are supposed to solve only the first 3 questions…

Q: If average cost is $30 and the output is 15 units. Calculate total cost

A: (Q)If the average cost is $30 and the output is 15 units. Calculate total cost

Q: Calculate average cost when total cost is $100,000 and output is 74 units

A: We are given that:- Total cost incurred by the firm = $100,000  Total output = 74 units

Q: If total cost is $600 and output is 10 units Calculate average cost

A: According to the above mentioned question, we have:- Total cost= $600 Output = 10 units  Average…

Q: If in an economy the fixed cost is $212 and the variable cost or $644 what are the total cost?

A:

Q: What is the cost of producing an additional car when 50 cars are being produced?

A: An opportunity cost arises when an economic agent has to choose between alternative ways of…

Q: Calculate the total cost if average total cost is $35 and the unit of output is 22 units

A: The Given information is as follows:- Average total cost of the firm = $35 Units of output = 22…

Q: The total cost (in dollars) of producing x food processors is C(x) = 1600 + 40x-0.1x². (A) Find the…

A: Business economics entails making judgments and allocating resources in complex market situations.…

Q: FC VC TC MC AFC AVC ATC 160 65 3 10 20 4 55

A: We know, AFC (average fixed cost) = TFC/Q where TFC = Total fixed cost Q = output

Q: Find total cost if average cost is $31 and the output is 60 units

A: The data presented in the question above is:- Total cost is to be calculated using information given…

Q: f the cost of producing 100 pies is $274 the average total cost is?

A: Average total cost refers to total cost per unit of output. It is the sum of average fixed cost and…

Q: The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the…

A: Given information: Total number of motorbikes = 100  Total cost of production = $1000

Q: Find average cost if output produced is 24 units and the total cost is $8700

A: The data presented in the question above is:- Output produced by firm = 24 units  Total cost = $8700…

Q: Alex is a hard-working college sophomore. One Saturday, he decides to work nonstop until he has…

A: Marginal gain is the addition to the total gain by employing an additional unit of input. Time spend…

Q: It costs a company $58 to produce 6 units of a product and $78 to produce 10 units. Assuming that…

A:

Q: The value of average cost is $20 Calculate the value of total cost when the total units are 6 units

A: # The formula for average cost is given as:- Average cost = Total cost / Output

Q: How to calculate the Average cost of producing 1, 2,...15

A: average cost = C/Q = 1000 + 100*Q for every Q we first calculate the C by using the formula C=1000+…

Q: A heavy equipment manufacturing company has produced its first unit using 3500 hours and $300,000…

A: Production costs can include a variety of expenses, such as labor, raw materials, consumable…