MICROECONOMICS-ACCESS CARD <CUSTOM>
11th Edition
ISBN: 9781266285097
Author: Colander
Publisher: MCG CUSTOM
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Chapter 11, Problem 8QE
To determine
Determine the type of costs.
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Chapter 11 Solutions
MICROECONOMICS-ACCESS CARD <CUSTOM>
Ch. 11.1 - Prob. 1QCh. 11.1 - Prob. 2QCh. 11.1 - Prob. 3QCh. 11.1 - Prob. 4QCh. 11.1 - Prob. 5QCh. 11.1 - Prob. 6QCh. 11.1 - Prob. 7QCh. 11.1 - Prob. 8QCh. 11.1 - Prob. 9QCh. 11.1 - Prob. 10Q
Ch. 11 - Prob. 1QECh. 11 - Prob. 2QECh. 11 - Prob. 3QECh. 11 - Prob. 4QECh. 11 - Prob. 5QECh. 11 - Prob. 6QECh. 11 - Prob. 7QECh. 11 - Prob. 8QECh. 11 - Prob. 9QECh. 11 - Prob. 10QECh. 11 - Prob. 11QECh. 11 - Prob. 12QECh. 11 - Prob. 13QECh. 11 - Prob. 14QECh. 11 - Prob. 15QECh. 11 - Prob. 16QECh. 11 - Prob. 17QECh. 11 - Prob. 18QECh. 11 - Prob. 19QECh. 11 - Prob. 1QAPCh. 11 - Prob. 2QAPCh. 11 - Prob. 3QAPCh. 11 - Prob. 4QAPCh. 11 - Prob. 5QAPCh. 11 - Prob. 1IPCh. 11 - Prob. 2IPCh. 11 - Prob. 3IPCh. 11 - Prob. 4IPCh. 11 - Prob. 5IP
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- The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Vintage Model Car Production Costs Total Fixed Cost Total Variable Cost (dollars) Total Cost (dollars) $2,000 (dollars) $2,000 Marginal Cost (dollars) Output $0 1 2,000 600 2,600 2,000 1,100 3,100 2,000 1,900 3,900 4 2,000 2,900 4,900 5. 2,000 4,150 6,150 b. What is the total cost of producing 4 vintage model cars? 2. c. What is the marginal cost of producing the 4th vintage model car? 2.arrow_forwardDirection: Explain the PEST ANALYSISPolitical:Economic:Social:Technological:(please do not copy answers on the internet, thank you)arrow_forwardOnly typed solutionarrow_forward
- Please answer all the parts a, b, c, darrow_forwardContinue with the table and complete the calculation for Marginal Cost: Round to the table standard. Q3 Table Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700 0 -1700 100 1700 500 2200 a 2000 20 -200 200 1700 1200 2900 b 4000 20 1100 300 1700 2700 4400 c 6000 20 1600 400 1700 5200 6900 d 8000 20 1100 500 1700 9000 10700 e 10000 20 -700 600 1700 15000 16700 f 12000 20 -4700 700 1700 23800 25500 g 14000 20 -11500 800 1700 36800 38500 h 16000 20 -22500 900 1700 55800 57500 i 18000 20 -39500 1000 1700 83000 84700 j 20000 20 -64700arrow_forwardBREAK-EVEN ANALYSIS The Warren Watch Company sells watches for $26, fixed costs are $155,000, and variable costs are $13 per watch. a. What is the firm's gain or loss at sales of 9,000 watches? At 15,000 watches? What is the break-even point? Illustrate by means of a chart. b. C. What would happen to the break-even point if the selling price was raised to $33? What is the significance of this analysis? d. What would happen to the break-even point if the selling price was raised to $33 but variable costs rose to $24 a unit?arrow_forward
- To make a decision about opening a restaurant, what is the relevant cost for Aram? $50 thousand has been spent to date on renovating the place. Aram could be earning $ 100 thousand a year as a chef. Additional labor and other costs necessary to open the restaurant equal $ 60 thousand a year. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. $ 160 thousand a b. $ 60 thousand $ 210 thousand $ 110 thousand $ 50 millionarrow_forwardIf the break-even volume is the quantity for which the overall cost will be considered as Break-even, then, the total revenue does not equal to the total cost. A. True B. False O True O False School plans for set up a summer program for students. The program assessment as follows: 1. fixed costs for classroom and advertisement: $225/program 2. variable costs for handouts: $20/student 3. the program registration fee: $35/student questions: how many students to attend this program for revenue to equal cost? A. 15 B. 40 C. 25arrow_forward3-1 Fixed-Cost Fallacy Describe a decision made by your company that involved costs that should have been ignored. Why did your company make the decision? What should it have done? Compute the profit consequences of the change.arrow_forward
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