MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
11th Edition
ISBN: 9781264207718
Author: Colander
Publisher: MCG CUSTOM
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 9QE
(a)
To determine
Determine the type of cost.
(b)
To determine
Determine the type of cost.
(c)
To determine
Determine the type of cost.
(d)
To determine
Determine the type of cost.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Explains it correctly.
Not copy paste
Accounting profit is $1500 and the explicit
cost is $450
Calculate the value of total revenue
What is the overhead cost for a company?
The profit desired
Labor costs
The cost of doing business
Both a and b
Chapter 11 Solutions
MICROECONOMICS (LL)-W/ACCESS >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
Knowledge Booster
Similar questions
- Suppose a company incurs the following costs: labor, $2,000; equipment, $600; and materials, $200. The company owns the building, so it doesn't have to pay the usual $900 in rent. Instructions: Enter your responses as a whole number. a. What is the total accounting cost? $ b. What is the total economic cost? $ c. If the company sold the building and then leased it back, what would be the change in 1. accounting costs? $ 2. economic costs? $ Q Search L O of e <arrow_forwardAccounting Complete the table and Graph the cost curves: Output (Q)/day Total Variable costs ($) Total costs (TC) ($) Marginal costs (MC) ($) Average Total costs (ATC) ($) Average Variable costs (AVC) ($) 0 0 635 -- ---- ---- 1 50 2 100 3 150 4 200 5 300 6 400 7 500 8 650 9 800 What is the dollar value of the fixed costs in this example? Why do marginal costs, average variable costs, average total cost have a “U” shape? That is, why do they start out high, get lower, and then higher again? For 7 units of output, what is the average fixed cost? Why does average fixed cost fall as a firm produces more of a good?arrow_forwardSee the cost information in the table below. The marginal cost of the 5th unit is Quantity produced/day Total Cost Variable Cost 0 $100 0 1 $150 $50 2 $175 $75 3 $225 $125 4 $300 $200 5 $400 $300 6 $550 $450arrow_forward
- please explain it without plagiarismarrow_forwardFirm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000. What is the firm's fixed costs?arrow_forwardSuppose you have a job in production manageent. A portion of your costs are as in the table below: Quantity 300 Average Total Cost JD 250 301 JD 251 Your current level of production is 300 units. All 300 units have been ordered by your regular customers. The phone rings. It's a new customer who wants to buy one unit of your product, offering JD 650 for the unit. You would have to increase production to 501 unit. Should you do it? * a Yes i should increase production to 501 unit and earn more profit. O No i shouidn't increase production to 501 unit because i will loose.arrow_forward
- please view photo uploadedarrow_forwardLooking to see how to figure outarrow_forwardThe following table shows a company's total cost of production at various production quantities. Fill in the remaining cells of the table. (Note: If a value is a decimal, round to the nearest integer.) Average Fixed Cost Average Total Cost Fixed Variable Total Marginal Average Variable Quantity Cost Cost Cost Cost Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 150 150 1 150 60 210 2 150 105 255 3 150 135 285 4 150 150 300 150 180 330 6. 150 240 390 7 150 345 495 150 495 645 9. 150 675 825 On the following graph, plot the company's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $210, so you should start your…arrow_forward
- See the cost information in the table below. When this firm produces 5 units, what is the average total cost? Quantity produced/day Total Cost Variable Cost 0 $100 0 1 $175 $75 2 $200 $100 3 $250 $150 4 $280 $180 5 $360 $260 6 $400 $300arrow_forwardFill in the remaining cells of the following table. Average Total Cost (Dollars per pair) Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) 120 1 200 240 285 4 340 425 6. 540arrow_forwardMelvin manufactures a single product. Total cost per unit is $70 when production is 100 units per week, and $62.50 when production is 160 units per week. What are the total fixed costs per week?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning