Q: Total Cost AVC AFC ATC MC -- -- 1 25 40 65 a5 20 16 20 216 25 29 3 15 20 25 4 105 145 4 (15) For any…
A: Since you asked for only drawing the diagram, we are doing that only.
Q: Suppose a short-run total cost function is given by C = 600 + 40Qº.3 + 5Q?. (a) Find out the fixed…
A: In a short-run perspective, a firm's total costs can be divided into fixed costs, which a firm must…
Q: Consider the following production function: Q=KªLB a) Derive the cost function b) Draw the AC and MC…
A: * ANSWER :- * A) at eqm, MRTS = w/r MRTS = MPL / MPK
Q: Suppose for a particular firm the only variable input into the production process is labor, and that…
A: Total cost is the cost of all inputs needed to produce with the given output. ATC is given as $30…
Q: b. If AC= Q?-4Q+10 i. Final the total cost and marginal cost function. Is this function is more…
A: TC = Q x AC = Q3 - 4Q2 + 10Q MC = dTC/dQ = 3Q2 - 8Q + 10
Q: Given that fixed cost=230 and variable cost=12Q; the total cost of producing 30 units of output is?…
A: Total fixed cost = $230 Total variable cost = 12Q Units = 30 units Total cost = ?
Q: Drive the cost function from the following CES production function y = A(aLº + (1 – a)K")
A: CES Production function : y = A(aLp + (1-a)Kp)1/p For a firm an optimizing state of production where…
Q: If firm X produces 20 units of product with a total cost of 100, what is its average cost? a)…
A: Total cost - Total cost is the cost which includes fixed cost and variable cost included in…
Q: firm X has a total cost of 100 and a total variable cost of 80, what is its total fixed cost? a)…
A: Fixed cost is independent of output produced.
Q: 11. For the cost function CIO) = 100 - 20 - 302, the total variable cost of producing 2 units of…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: 12. If average fixed cost is 40'and average variable cost is 80/for a given output, we then know…
A: Average total cost refers to the cost per unit. In other words, the average total cost is the sum of…
Q: how that the cost function for a firm with the constant returns Cobb–Douglas production function y =…
A: y = Az1a z21-a C( p, y) = yp1a p11-a B
Q: A firm has two plants that produce identical output. The costs functions are C,=10g-4q² + q³…
A: TC1 = 10q - 4q2 + q3 AC1 = TC1/q AC = 10 - 4q + q2 Average cost will be minimum when it's…
Q: A company is planning to manufacture mountain bikes. The fixed monthly cost will be S100,000 and it…
A: Given that fixed monthly cost for manufacturing mountain bikes is $100,000. Cost of each bicycle is…
Q: K L Q 10 10 1 15 10 2 30 10 50 10 4 60 10 65 10 68 If the cost of labor is $20 per L and the cost of…
A: The firms, and businesses are the entities who are involved in the production of goods, and services…
Q: referring to the cost table above, what is the average variable cost if quantity produced equals 400…
A: Average variable cost varies with the output produced
Q: Give the formulas for and plot AFC, MC, AVC adn AC if the cost function is C=10 + 10q -4q2-q3.…
A: We are going to identify average cost, marginal cost to solve this question.
Q: Prunella raises peaches where L is the number of units of labor she uses and T is the number of…
A: Slope of isocost line is the negative price ratio between the two goods.
Q: Average Total Cost ($ per tablet) Number of Factories Q=100 Q=200 Q=300 Q=400 Q=500 Q=600 1 400 300…
A: Given information Q Factory1 Factory 2 Factory 3 100 400 540 720 200 300 350 400 300 200…
Q: For this cost function, Marginal Cost = MC = 10 q . (45) Fill in the table with your values from…
A: MC(marginal cost) is the slope of TC(total cost). TC is the sum of TVC(total variable cost) and…
Q: 1. Suppose a cost function such as C(q) = 10 + 159 + 4q (a) Find the ATC, AVC, AFC and MC (b) Find…
A: The cost of production indicates the money spent on the fixed and variable factor of production. The…
Q: If the fixed input is the two hectare of land and the variable input is fertilizer explain how the…
A: The law of diminishing marginal utility states that when an individual absorbs an object or a good,…
Q: If a firm's production function is given by Q = K0.3L0.3 then it exhibits а. Decreasing returns to…
A: Returns to scale: - returns to scale, show the change in output due to the change in scale of…
Q: If Mark produces five pairs of shoes, his total costs are a. $400 b. $370 c. $360 d. $320
A: Total cost is the sum of fixed cost and variable cost.
Q: The cost function of a firm is given by C (x) = 2x² + 3x + 5. Then the average cost producing 5…
A: The total cost of production: It is the function of output. As the output increases the total cost…
Q: Suppose a firm produces 20 unit of output per month and has a total variable cost of R3000 per…
A: Here, given information is: Total output produced= 20 units Total variable cost per month= R3000…
Q: 11. For the cost function CIO) = 100 - 20 - 302, the total variable cost of producing 2 units of…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: The total cost (TC) of producing computer software diskettes (Q) is given as TC-200+5Q. When Q=10,…
A: The monetary worth of goods and services purchased by producers and consumers is referred to as cost…
Q: 2.) If the total cost function is given by C(q) = -0.00002q? + 6.5q + 5400, find the marginal cost…
A: Answer to the question is as follows:
Q: Given the total cost function TC - 2,000 + 2*Q. when output is 1,000 units average total costs are.…
A: The formulas for cost are: 1. Total Cost = Fixed Cost + Variable Cost 2. Average Total Cost = Total…
Q: Consider the following total cost function: TC = 1500 + 300Q -3602 + 203 What is the quantity that…
A: In order to find the quantity at which Marginal Cost is minimised, we will first find the MC…
Q: 2 Find the total cost function given, the fixed costs are $200 and the variable cost per unit is a…
A: total cost is addition of fixed cost and variable cost. In this Fixed cost = $200 and variable cost…
Q: If average total costs increase when the output level increases, then there are diseconomies of…
A: The expenses that are being incurred for running a business and carrying out its various…
Q: Suppose that the monthly cost, in dollars, of producing x chairs is C(x) = 0.005x + 0.07x + 15x +…
A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.
Q: For this cost function, Marginal Cost = MC = 10 q. %3D 45) Fill in the table with your values from…
A: Fixed cost is independent of output produced whereas variable cost varies with the level of…
Q: Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the…
A: Given: Labor rate= tk. 3949.0 per worker Fixed cost=tk. 10630.0 per week
Q: 3] Let the total cost function be C(x) =x² + 4x + 12 $. Answer the following questions. a. Find the…
A: TC = 1/9x2 +4x+12
Q: Find the attached file.
A: Fixed cost is the cost which does not vary with the change in the output. Marginal cost is the…
Q: Consider the following cost information for Yasir’s tea stall. (Cups of tea per hour)…
A: The cost is the money spent on factor of production to produce the goods and services. There are two…
Q: Output Quantity Total Fixed Total Variable Cost Cost $100 $ 0 1 100 50 100 84 3 100 108 4 100 127 15…
A: Fixed cost is independent of output produced. Whereas variable cost varies with the level of output…
Q: Economies of Scale. Figure 7.10b illustrates the situation in which a larger plant can attain a…
A: The economics as a study is associated with the use of resources, where the resources are limited in…
Q: Answer the question on the basis of the following cost data. 13 Total Cost $24 3. 1. 48 2. 3. 54 4.…
A: Average total cost refers to per unit cost of production . It is estimated by dividing total cost by…
Q: 15) For any cost function, you can find min ATC by etting ATC = and solving for q. %3D
A: Average total cost = total cost/ quantity
Q: Suppose a firm has a short-run cost function: C(9) = 1000 + 200g Question 3. 5q + 0.5g. What are the…
A: Variable costs are any expenses that change based on how much a company produces and sells. This…
Q: 12 .knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…
A: Total cost is the sum of total fixed cost and total variable cost. Average fixed cost is total fixed…
Q: 560 and total variable costs as indicated in the table. Complete the table and check your…
A: *Answer:
Q: A firm's production function for pretzels is shown in Figure 4.1. If the firm's fixed cost equals…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: 1. You are hired as a business consultant of a firm that manufactures radios and sells them for Php…
A: Since you have posted multiple questions, we will solve the first one for you. If you want any…
Q: Workers Total Product Total Cost (per day) (units per day) ($) 100 1 10 120 2 18 140 3 24 160 4 29…
A: Fixed costs are costs that do not change when sales or production volumes increase or decrease. This…
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- Consider a power system with three generators. Each generator has a piecewise linear cost function defined by the following points. Generator 1 Generator 2 Generator 3 Production (MWh) 100 200 300 400 200 400 600 800 100 400 700 1000 Cost ($) 915 1760 2635 3540 1870 3530 5230 6970 1060 3460 6040 8800 The min/max production of each generator corresponds to the min/max production values in the table (i.e., Generator 1 produces at least 100 MWh and no more than 400 MWh). (a) Plot the inverse supply function for this system. (b) If the demand is completely inelastic and equal to 1600 MWh į. compute the electricity price. ii. calculate the gross consumer surplus, consumer surplus, the producers revenue, the producers profit, and the global welfare. iii. determine the production level, cost, revenue, and profit for each generator.ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the aboveAssume you were hired as a Production Engineer in a global Bearing Manufacturer company and given the following inputs: Equipment Maintenance Cost per Month Utilities Cost per Month Material Cost per Unit Labor Cost per Unit Selling Price per Unit S60,000.00 $12.000.00 $12.00 $3.00 $24.00 Calculate Total Fixed Cost per Month Calculate Total Variable Cost per Unit = Calculate number of Units to be sold to reach Break-Even Point = Calculate number of Units that must be sold to eam profit of $90,000.00
- Cost Analysis A company manufactures fuel tanks for cars. The total weekly cost (in dollars) of producing X fuel tanks is given by.. C(x) = 10000 +90x - 0.05x² %3D Find the exact cost of producing the 501st item. (Round to the nearest 2 decimal places, if needed) HINT: Steps to fiınd actual or exact (cost/revenue/profit) 1. Find the cost of x = 5003B 2. Then find the cost of x = 501%3; 3. Then subtract ASUS 3 近Please refer to the figure below. The equation for p = 105-0.005D 25,000+65D Y D (units sold) How much is the fixed cost? ОА. BD65 о В. BD22,500 ОС. BD12,500 O D. BD25,000 Cost/RevenueProblem1: Given the following information, you must complete the table: Total fixed cost is P220 per period. Units of the variable inputs cost P100 per unit per period. Units of Variable input 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Total Product 100 250 410 560 700 830 945 1,050 1,146 1,234 1,314 1,384 1,444 1,494 1,534 1,564 1,584 1,594 Fixed Cost Variable Cost Total Cost Average Fixed Cost Problem 2: Graph the fixed cost, variable cost, and total cost curves on one sheet of paper. Problem 3: Graph the average fixed cost, average variable cost and average total cost and marginal cost curves on another sheet of paper. ( Average Variable Cost Average Total Cost Marginal Cost
- TC 400+150Q-3Q2 +0.02Q3 400 Based on this equation, find total fixed cost calculate total fix cost -Assume that it costs a company approximately C(x) = 400,000 + 140x + 0.003x? dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. 400,000 – 0.000009 Use it to estimate how fast the cost is increasing when x = 10,000. 2$ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. -Select--- at a production level of 10,000 smartphones. The marginal cost from (a) is --Select--- than the average cost from (b). This means that the average cost isA manufacturing plant has a short-run cost function of C(q) = 100q – 4q2 + 0.2q3 + 450. %3D (a) What is the firm's short-run fixed cost and variable cost function? (b) Calculate MC, AVC, AFC, and AC ECONSLI
- 1. Determine the variable cost per unit and the fixed cost using the high-low method.2. What is the equation of the total mixed cost function?3. Prepare the scatter diagram, clearly showing any outliers.4. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)5. In view of the department’s cost behaviour pattern, which of the two methods appear more appropriate? Explain your answer.A 50-hp turbine pump was purchased for $2100. If the exponent in the cost-capacity equation has a value of 0.76, a 200-hp turbine pump could be expected to cost..... a. $5320 b. $6020 Oc$4890 d. $4260A firm has the following information on production Q.6 and costs from past data: Output Total Cost (ТC) (Y) 6. 12 18 9. 2775 5361 8199 If the total function is known cost to be ТС - аY + br+kY+ f. and the demand for the %3D product of the firm is Y = 320- (1/2). P answer the following: Determine the coefticients of the cubic cost function. Derive all cost and revenue curves and the profit function. Show that the MC cuts the AVC when AVC is at its minimum point. Plot the relevant graph indicating all points. Calculate the break even and profit maximizing levels of oulput and price. What is the relationship between price, marginal revenue and own price elasticity of demand at maximization point. the profit