Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 6, Problem 19SQ
To determine
The fixed cost of producing six units of pizza.
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The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per widget at a production level of 300 units is closest to which of the following? a. $2,800 b. $6 c. $8 d. $4,000.
Which of the following would shift a firm's short-run cost curves downward? a.an increase in excise taxes levied on the firm's product b.an increase in the demand for the firm's product c.an advance in technology d.an increase in employees' wages
Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. The variable cost of producing 10 units is
A. $2
B. $2.50
C. $20
D. $16
Chapter 6 Solutions
Survey Of Economics
Ch. 6.5 - Prob. 1YTECh. 6 - Prob. 1SQPCh. 6 - Prob. 2SQPCh. 6 - Prob. 3SQPCh. 6 - Prob. 4SQPCh. 6 - Prob. 5SQPCh. 6 - Prob. 6SQPCh. 6 - Prob. 7SQPCh. 6 - Prob. 8SQPCh. 6 - Prob. 9SQP
Ch. 6 - Prob. 10SQPCh. 6 - Prob. 11SQPCh. 6 - Prob. 1SQCh. 6 - Prob. 2SQCh. 6 - Prob. 3SQCh. 6 - Prob. 4SQCh. 6 - Prob. 5SQCh. 6 - Prob. 6SQCh. 6 - Prob. 7SQCh. 6 - Prob. 8SQCh. 6 - Prob. 9SQCh. 6 - Prob. 10SQCh. 6 - Prob. 11SQCh. 6 - Prob. 12SQCh. 6 - Prob. 13SQCh. 6 - Prob. 14SQCh. 6 - Prob. 15SQCh. 6 - Prob. 16SQCh. 6 - Prob. 17SQCh. 6 - Prob. 18SQCh. 6 - Prob. 19SQCh. 6 - Prob. 20SQCh. 6 - Prob. 21SQCh. 6 - Prob. 22SQCh. 6 - Prob. 23SQCh. 6 - Prob. 24SQCh. 6 - Prob. 25SQ
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- What would this answer be?arrow_forwardJoanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells them for $7 each a. Find the linear cost function for Joanne's T-shirt production b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $700? a. The linear cost function is C(x)= b. Joanne must produce and sell c. Joanine must produce and sell T-shirts in order to break even, because the number of T-shirts must be a whole number T-shirts to make a profit of $700, because the number of T-shirts must be a whole numberarrow_forwardEconomicarrow_forward
- which of the following statements about the short-run production is true A. Total product starts to decline of the point of diminishing returns? B. When marginal product diminishes, is at its minimal pointarrow_forwardJustify the statement. Whether true or false. Fixed cost does not change with the change in the output in a production processarrow_forward12arrow_forward
- A firm analyzes the effects of raising its current level of output and finds that doing so will cause its average total cost to increase. If the firm pays both fixed and variable costs of production, which of the following must be true? (Check all that apply) A. The effect of average variable cost increasing dominates the effect of average fixed cost decreasing B. The marginal cost is greater than the average total cost C. The marginal cost curve is less than the average total cost D. The effect of average fixed cost decreasing dominates the effect of average variable cost increasingarrow_forwardWhen the output level is 100 units, what is the total cost of production. A. $2000 B. $20 C. $1000 D.arrow_forwardA firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were to increase production to 21 units. Find the total cost?arrow_forward
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