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- How does fixed cost affect marginal cost? Why is this relationship important?How would an improvement in technology, like the high-efficiency gas turbines or Pirelli tire plant, affect me lung-nm average cost curve of a firm? Can you draw the old curve and the new one on the same axes? How might such an improvement affect other firms in the industry?Macmillan Learning Slider owns a hamburger restaurant. Slider's minimum average variable cost is $10 at a quantity of 100 hamburgers, and his minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to answer the questions. What is Slider's AVC when he sells 200 hamburgers? Slider's AVC: $ At a quantity of 250 hamburgers, the average total cost curve is
- Draw the marginal-cost and average-total-cost curvesfor a typical firm. Explain why the curves have theshapes that they do and why they intersect wherethey do.. Jane’s Juice Bar has the following cost schedules:Quantity Variable Cost Total Cost0 vats of juice $ 0 $ 301 10 402 25 553 45 754 70 1005 100 1306 135 165a. Calculate average variable cost, average total cost,and marginal cost for each quantity.b. Graph all three curves. What is the relationshipbetween the marginal-cost curve and theaverage-total-cost curve? Between the marginalcost curve and the average-variable-cost curve?Explain.How are the marginal cost curve and average variable cost (AVC) curve related? Explain why the AVC curve is "U shaped". Please don,t copy from anywhere. Please answer step by step. if posssible use graph.
- Abe grows beautful orchids. His total fixed cost is $144 a day, and his average variable cost is $1 a pl a plant. fixed cost Abe grows beautiful orchids. his total fixed cost is $144 aday, and his average variable cost is $1 a plant. he is maximizing his profit by selling 24 orchids a day for $7 a plant. few people know about Abe's orchids. Abe thinks that if he spends $10 a day on advertising, he can sell 44 orchids a day for $7 a plant. if Abe's belief about the effect of advertising is correct, he_ a. can increase his economic profit by advertising b. cannot increase his economic profit by advertising because advertising increases his average total cost C. can increase his economic profit by advertising only if he lowers the price of an orchidRefer to the to graph on the right. Which level of output in the graph below represents the minimum efficient scale? OA 1,000 books B. 20,000 books C. 40,000 books $22 00 D. 80,000 books 20.00 18.00 Which size bookstore is more likely to expenence diseconomies of scale? Long-nun Average cost O A. Abookstore selling 1.000 books per month B. A bookstore seling 20,000 books per month C. Abockstore selling 40,000 books per month 40,00.000 OD. A bookstore seling 80 000 books per month 1,000 20,000 Quantry of books sold per monthPick the proper graph illustrating the cost curves for a typical firm. 01 02 1 cost 2 cost None of the Above Mont Sai MC ATC AFC -AVC quantity MC ATC AFC -AVC quantity 3 cost 4 cost MC ATC MC AVC AFC quantity ATC AVC AFC quantity
- The following table shows data for quantity (Q), variable cost (VC), and fixed cost (FC) for a ski company. a) Fill the table for total cost (TC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). Make sure to show your work for at least one line. Q VC FC TC ATC AVC MC 30 1 10 30 25 30 3 45 30 4 70 30 100 30 6 135 30 b) Now suppose the firm decides to produce a quantity of 5 units (Q=5), and it sells for a price of $25 each. Answer the following: 1. Calculate the company's profits or losses 2. How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? 3. At the given quantity and price, is the marginal unit produced adding or subtracting to profits? Should the fırm produce at this level of output?Homework (Ch 13) Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost (Pairs) (Dollars) (Dollars) (Dollars) 0 78°F Sunny 1 2 3 4 5 6 60 155 220 255 300 350 450 2 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should…S Costs 35 3:0 25 20 15 10 0 2 3 Quantity (Vats of juice) E Marginal Cost O Search Average Variable Cost Average Total Cost Which of the following statements are true according to the previous graph? Check all that apply. The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve lies below the average-variable-cost curve. C (((.