PRIN.OF ECON.ACCESS CODE
2nd Edition
ISBN: 9780393691757
Author: Mateer
Publisher: NORTON
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Question
Chapter 9, Problem 6QFR
To determine
The concept of sunk costs
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Students have asked these similar questions
Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship
between the number of workers and Nimbus' output during a given day. I have completed the
first two rows.
Workers
Output
Marginal
Total
Average
Marginal
Product
Cost
Total Cost
Cost
$200
1
20
20
$300
$15
$5
2
50
30
$400
$8
$3.33
3
90
40
4
120
30
140
20
150
10
7
155
5
What is explicit cost in business.
Kindly explain it properly.
is it true that the marginal cost curve intersects the average variable cost curve at the break-even point?
Chapter 9 Solutions
PRIN.OF ECON.ACCESS CODE
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Similar questions
- “Sunk cost is a fixed cost, but not in the long term.” Is this statement true or false? Explain!arrow_forwardWhat happens to the average fixed cost, when the output of a firm increases.arrow_forwardA common name for fixed cost is “overhead.” If you divide fixed cost by the quantity of output produced, you get average fixed cost. Supposed fixed cost is $1,000. What does the average fixed cost curve look like? Use your response to explain what “spreading the overhead” means.arrow_forward
- The total cost of producing mobile phones is TC = 10 + 70q + 30q^2 l. Calculate the marginal cost.arrow_forwardAverage cost decrease indefinitely as output expands. Is that true?arrow_forwardcan you answer part D The average cost of production per thousand board feet is (Round to the nearest cent)arrow_forward
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