Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 6, Problem 2SQP
To determine
List out the fixed input and variable input.
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Suppose you own a video game store. List some of the fixed inputs and variable inputs you would use in operating the store.
Use the accompanying graph to answer the following questions. Assume the company makes 30,000 parts per month of Product A and 17,500 parts per month of Product B.
Click the icon to view the provided graph.
(a) Which Product has the higher variable cost, and what is this value in units of dollars per part?
has the higher variable cost. This value is $/part. (Type an integer or a decimal. Round your answer to two decimal places.)
More Info
Total Cost or Revenue [$] Milions
$6-
$5-
$4-
$3-
FA
$0-
O.
0
10
- Product A Total Cost
- Product B Total Cost
Product A Revenue
Product B Revenue
G1
A
20
30
G
T
40
Time (t) [months]
Print
50
Done
60
N
...
70
80
Ⓡ
o
X
What is a production function?
Response option group
It is the production technology
It is the relationship between inputs and the level of production
It is the average product
It is the marginal product
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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- The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the motorbikes.arrow_forwardWhat is the difference between a fixed input and a variable input?arrow_forwardWhen a firm has a fixed input, all of which must be used all the time, it said that input is?arrow_forward
- the numbers inputed on the graph are correct so fararrow_forwarda software production firm, average product has started falling and total output indicated diminishing trend. The production manager Mr. Yahya called you and asked you to see the condition of marginal product. You analyzed the situation and reported that marginal product falling more than average product. Mr. Yahya got surprised. In your opinion which situation the firm is heading to?arrow_forwardTotal Cost Analysis The manager of a rival T-shirt stand found that her cost to produce 10 T-shirts is $105.98. while the cost to produce 40 T-shirts is $398.42. Assume the cost Cod is a linear function of x, the number of T-shirts produced. Find the total cost of producing 100 T-shirts (Round to 2 decimal places)arrow_forward
- List several fixed and variable costs associated with owning and operating an automobile. Suppose you are considering whether to drive your car or fly 1000 miles to Florida for spring break. Which costs—fixed, variable, or both—would you take into account in making your decision? Would any implicit costs be relevant? Explain.arrow_forwardUse the information in the graph to the right to find the values for the following at an output level of 65 The marginal cost is $55 (Enter a numeric response using an integer.) The total cost is $2925 The variable cost is $2405 The fixed cost is $520 XX Cost 100- 55 45. 37 0 65 Quantity of output MC ATC AVCarrow_forwardUse the following information to answer the question Quantity (number ofFixed Variable Total Marginal Costs Costs Costs Costs ($) ($) ($) units) ($) 1 10 16 4 10 25 6 6. The average variable cost of producing 3 units is Answer: 2) 1. 2. 3.arrow_forward
- Use the information in the graph to the right to find the values for the following at an output level of 35. The marginal cost is $ The total cost is $ The variable cost is $ The fixed cost is $ (Enter a numeric response using an integer.) C Cost 100- 54 38 17 0- 0 35 Quantity of output MC ATC AVC Narrow_forwardAs total output increases average fixed cost v (Click for List) constant at a maximum falling rising at a minimumarrow_forwardConsider a small photography studio with 8 workers and 5 The total cost of labor and capital is $3,200. In order to reduce total operating costs, the owner leases 5 additional printers and fires 5 workers. After these changes, the salary of each worker increases by $30, the cost of using each of the printers (both new and old) remains constant, and the total cost of labor and capital decreases to $2,900. What is the cost of using one printer?arrow_forward
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