a. Increasing cost industry b. Decreasing cost industry c. Constant cost industry curve а) А-1, В-2, С-3 b) А-2, B-1, С-3 с) А-3, В-2, С-1 d) A-2, B-1, С-3
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- See the cost information in the table below. The marginal cost of the 6th 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 $450 Question 18 options: a) $30 b) $150 c) $100 d) $50Eliza works in a diner and creates luscious pies. She has the following average total cost schedule (see the picture below): H Quantity of Pies Produced 600 601 Average Total Cost in HongKong Dollars 300 301 The current level of production of Eliza is 600 (six-hundred) pies, which all have been sold. A customer desperately texted you that they wanted to buy one of her pies. They offer 550 HK$. Should Eliza accept the offer? If not, why?swered Costs per Unit (dollars) 1000 900 800 700 600 500 400 300 200 100 0 4 Average total cost B Marginal cost Output (units per day) Average variable cost Average fixed cost 22 24 How many units of output should be produced per day if the price of the product is $600/unit? (provide an approximate answer in whole numbers)
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- Output Total Fixed Cost (TFC) Total Variable Cost (TVC) Total Cost (TC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Average Cost (AC) Marginal Cost (MC) 0 200 - 1 40 2 44 3 330 4 50 90 5 371) Complete the following Cost Schedule: Fixed Variable Total Average Cost Average Fixed Average Variable Marginal Cost Output Cost Cost Cost Cost (?) (?) (?) (?) (?) (?) Cost (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) (?) 600 10 (?) 250 (?) (?) 20 400 30 500 40 (?) 900 50 (?) 1600 (?) 2) Draw the curves of Fixed Cost, Variable Cost and Total Cost in one graph (according to the given data).Steve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $450,000 per year. Last year, Steve sold 1,200 bikes.Steve’s average variable cost was __________ per bike. Question 7 options: A) $1,000 B) $1,200 C) $375 D) $625
- ces aw 1 Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determine the total fixed cost first.) Instructions: Enter your answers rounded to two decimal places. Output 0 1 2 3 4 5 Average Fixed Cost $5.00 $1.67 $1.25 $1.00 Total Variable Cost $9.65 $18.62 $34.55 $41.55 Average Total Cost $11.81 $10.64 $9.89 $9.31discuss IKEA Variable product cost per item and Fixed product overhead costs per itemWhich of the following cost relationships is incorrect? a. APL=TP/L b. TVC= TC-FC c. MC=change in TVC/change in Q d.AFC=AVC-ATC