Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: The world price of zinc has increased to the point where “moth balled” zinc mines in east Tennessee…
A: The total production mine producing 20,000 tons per year (which is at 100% capacity) when zinc sells…
Q: (dollas мс . F 40 E ATC 30 AVC 22 в 20 ED0 350 Output (unit) 425 450 0 rri
A: The total fixed cost is the cost that remain constant in total dollar amount irrespective tio the…
Q: 400 360 320 M 280 240 200 B 160 120 M 80 40 40 80 120 160 200 240 280 320 360 400 QUANTITY (Units)…
A: Statement 1: The elasticity of demand is the responsiveness of demand to prices. Diagrammatically,…
Q: BC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total…
A: Company produces Q = 100 pendants Total fixed cost TFC = $5000 Total variable cost TVC = $15000
Q: If the seller manufacturing the books with costing $10 per book. the seller sells 500 books at a…
A: Total number of books (Q) = 500 Price of each books (P) = $100
Q: # Units Produced Total Revenue Total Costs 1 100 50 180 110 3 250 180 4 290 270 310 380 2. 5.
A:
Q: If explicit cost equals to $40000 and implicit cost $ 95,000 and the accounting profit is $23,000…
A:
Q: revenues per month 27,000 costs: erchandise sold $ 17,000 cashier, stock, and delivery help 2,500…
A: Explicit expenses are the direct expenses of working a business, for example, expenses of natural…
Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…
A: The profit of a firm refers to the difference between the firm’s revenue and its cost of production.…
Q: Please answer with details on how to do it. A small company manufactures a certain product.…
A:
Q: A company produces and sells a consumer product and is able to control the demand by varying the…
A: Given demand function is p=38+2700D-5000D2 Note D>1 Total fixed cost =$1000 and variable…
Q: Bags Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200…
A: Break-even Analysis- Breakeven is the point at which a firm must cover its costs of production.…
Q: A call center in Pakistan used by U.S. and U.K. credit card holders has a capacity of 1,500,000…
A: Break even point of any firm is derived at the point where total revenue matches the total cost,…
Q: Solve for A. Variable and fixed cost B. Estimated increase in cost for additional days…
A: Cost function = FC+MC* Q Whete VC = MC*Q FC = cost at Q=0
Q: Given the following information, how many units must be sold to achieve a profit of $25,000? [Note…
A: There are many different types of costs in the economy. They are the fixed cost, the variable cost,…
Q: MC Revenue and cost (dollars per unit) MR $40 ATC AVC e 24 20 14 12 8 100 150 200 Quantity 55
A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…
Q: If the seller manufacturing the books with costing $10 per book. the seller sells 500 books at a…
A: Total number of books (Q) = 500 Price of each book (P) = $100 Manufacturing cost per book = $10
Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Calculate the value of profits if total revenue is $5000 and the total cost is $5500
A: The given information is as follows:- Total revenue = $5000 Total cost= $5500 We have to calculate…
Q: A small company manufactures a certain product. Variable cost are $20 per unit and fixed cost are…
A: Total cost = Fixed cost + Variable cost Total revenue = price × Quantity Profit = Total revenue -…
Q: A call center in India used by U.S. and U.K. credit card holders has a capacity of 1,500,000 calls…
A: Given, Total capacity of call annually = 1,500,000 Total fixed cost = $ 850,000 Average variable…
Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…
A: here we calculate the quantity would the company have to sell to have a profit of AED 1,50,000 by…
Q: An article has a Selling Price :Rs. 12 Per Unit Variable Cost : 2/3 of SP Fixed Cost :Rs. 40,000…
A: P = 12/unit FC = 40,000 VC = 2/3 * 12 VC = 6/unit Say quantity = Q
Q: If AFC=60 and ATC=120 when output is 100, then total variable cost must be:
A: We can find the average variable cost by taking the difference between average total cost (ATC) and…
Q: 1.Following is a summary of basic cost and revenue data for an Engineering Consultation Office.…
A:
Q: Calculate profits if total revenue is $6500 and the total cost is $2300
A: The information being given to us is as follows:- Total revenue = $6500 Total cost = $2300 The…
Q: What are the fixed cost and variable cost form th ebelow list? 3000 Bottles price 25782.6 2 years…
A: In economics, there are 2 crucial costs which are: (i) fixed costs- These are the costs that remain…
Q: Tire Co. has total fixed costs of $1000 per month. The firm's variable cost is $800 for 10 tires. At…
A: Average variable costs = Total variable cost / Quantity of output
Q: Price and cost (dollars per pair) 150 MC 125- 100 ATC 75- 50+ 25- MR 100 200 300 400 Quantity (pairs…
A: Equilibrium is at the point where MR = MC and MC will be upward rising.
Q: The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top…
A: Given Information Population Size(N) = 15 No of draws (n) = 3 number of successes(r) = 5 Formula…
Q: A call center in India used by U.S. and U.K. credit card holders has a capacity of 1,400,000 calls…
A: Production capacity refers to the total amount of goods that can be produced by a firm with the…
Q: 10. Smart Phones, Inc. buys one model of smartphone, paying $2370 per case of 20 phones. Find the…
A: The asking price signifies the price at which each unit of the firm's product is offered to the…
Q: If total revenue is $3500 and the price per unit is $70 Calculate output
A: The firms, or the producers are the entities who are involved in the production of goods, and…
Q: Company Dream Ltd has a demand of 75 Lakhs per year. Setup cost and holding cost are 29 and 35 per…
A: Given that; Annual demand = 75 lakhs per year Setup cost = $29 per unit Holding cost = $35 per unit…
Q: [Problem 3 ] Piddling Manufacturing assembles security monitors. It purchases 3,600 black and white…
A: The question has been solved below.
Q: HeatAll, manufacturer of radiant heaters (great for heating outdoor dining areas, a “hot” item these…
A: The total cost incurred by a firm includes fixed cost and variable cost. Fixed costs are the costs…
Q: Total Total revenue cost $1,200 1,000 800 600 400 200 100 320 440 Output
A: The overall cost incurred by a company to manufacture a certain quantity of a product or provide a…
Q: Calculate Total revenue is per unit price is $10 and output is 320
A: According to the above mentioned question, we have:- Price per unit= $10 Output = 320 units Total…
Q: Some rental units have certain expenses included with the rent. Water, electricity, and heating are…
A: Utilities expense is the cost incurred by using utilities such as electricity, water, waste…
Q: t has fixed costs of $2625 related to the production of the t-shirts, and the production cost per…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: XY Inc. finds that the total cost of producing and selling "D" number of ACU sets is 50D2 +3000D…
A: The main motive of running a business is to earn profits. Profits could be computed by subtracting…
Q: Huawei Company produces mobile phones. Selling Price = $350/unit. Total Fixed expenses = $250,000…
A: In the market, an organization uses various methods to understand the potential and actual output…
Q: Find profit level of total revenue is $2490 and total cost is $2100
A: The information being given is:- Total revenue = $2490 Total cost = $2100 Profit= ?
Q: A Company manufactures and sells one product. The product has the following cost and revenue data…
A: Advertising elasticity of demand (AED) is a measure of a market's sensitivity to increases or…
Q: 1. A furniture store sold picnic chair for $22.95 during a promotional sale. The store bought the…
A: Given: Cost of coffee maker = $36 less 40% and 15% Now the actual cost = 85% of (60% of 36) =…
Q: Heinrich is a manufacturing engineer with the Miller Company. He has determined the costs of…
A: Perfect Competition has many buyers and many sellers, the firm is a price-taker firm, and has free…
Q: Question 1 Cost of a stainless vessel in year 2002 was $33,000. Estimate its cost in year 2016 by…
A: The data presented in the question above is:- In 2022 cost of stainless steel vessel = $33,000 CEPCI…
Step by step
Solved in 2 steps
- The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in Table 7.16 for total cost, average variable test, average total cost, and marginal cost.Q 0 1 3 5 7 9 11 15 17 Total Cost (TC) 1350 3200 4800 6900 9100 12350 18650 Total Fixed Cost (TFC) Total Variable Cost (TVC) 500 Average Total Cost (AC) 700 2. Plot the TC, TFC and TVC curves on a single diagram on another. cost of mountain bike production. Average Variable Cost (AVC) Average Fixed Cost (AFC) 200 220 Marginal Cost (MC) and plot the AC, AFC, AVC and MC curves12 st L8 Get & Transform Data 4 6 7 1 2 Available Product 3 8 9 10 11 12 13 A 14 15 16 17 18 19 20 All :X ✓ fx B Pounds made Workbook Links Queries & Connections 3000 Flour (ounce) 1500 Egg (piece) 4500 Labor (man-hour) Unit Price Variable Cost Demand UCM Adiucted C 3.2 1.5 6 D $12.50 $6.50 960 $6.00 2.6 1.5 5 Data Types $11.00 $5.70 928 $5.30 E 1.5 1 4 <1 $9.00 $3.60 1041 $5.40 F 0 0 0 0 Banana Muffin Choc Muffin Banana Cookies Choc Cookies Milk Bread White Bread 0.7 0.3 0.5 0 2.5 1.5 $6.00 $3.00 $2.20 $1.20 1084 1055 $3.80 $1.80 AV 0 0.8 1 3 G $7.00 $2.80 977 $4.20 Sort & Filter H Advanced 0
- IIT Ball Bearings Inc. faces costs of production as follows: Quantity Total Fixed Cost Total Variable Cost 100 100 100 100 100 100 100 1 50 70 90 140 200 360 3 4 5 (A) Calculate the company's average fixed costs, average variable costs, average total costs, and marginal costs. (B) The price of a case of ball bearings is $50. Seeing that she can't make a profit, the Chief Executive Officer (CEO) decides to shut down Operations. What are the firm's profits/ losses? Was this a wise decision? Explain. (C) Vaguely remembering his introductory economics course, the Chief Financial Officer Tells the CEO it is better to produce 1 case of ball bearings, because marginal revenue equals marginal cost at that quantity. What are the firm's profits/losses at that level of production? Was this the best decision? ExplainOutput (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?Total Quantity Fixed Costs (FC) Variable Costs (VC) Costs of TC) Apples 0 80 1 80 117 197 332 2 80 252 485 3 4 80 656 845 80 765 6 80 1052 1197 1277 1440 1520 8 80 7
- Total Costs (000s of dollars) 20 000 18 000 16 000 14 000 12 000- 10 000- 8 000 6 000 4 000 2000 0 4000 0 2000 5 1000 10 15 20 Output (golf carts per month) TC TVC Refer to the figure. How much is the total cost (TC) when the total output is zero? TFC T 25 30Ball Bearings, Inc. faces costs of production as follows:Table 1: Ball Bearing Inc. Production CostsQuantity Total Fixed Cost Total Variable Cost0 100 01 100 502 100 703 100 904 100 1405 100 2006 100 360(a.) Calculate the company’s average fixed costs, average variable costs, average total costs, and marginal costsat each level of production.(b.) The price of a case of ball bearings is 50. Seeing that she can’t make a profit, the Chief Executive Officer(CEO) decides to shut down operations. What are the firm’s profits/ losses? Was this a wise decision?Explain.(c.) Vaguely remembering his introductory economics course, the Chief Financial Officer tells the CEO it isbetter to produce 1 case of ball bearings, because marginal revenue equals marginal cost at that quantity.in the month of Janaury a car dealership bought its vehicles for $100.000 and sold them for $145,000 It pays its employees $20,000 for the month. What is the gross profit for January? Ⓒ$45.000 Ⓒ$25.000 $100.000 $145.000
- PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data Average Average Average I Fixed Variable Total Cost TC Marginal Quantity Fixed Variable Total Change in I Cost of Output (FC) (VC) Cost ATC Cost Cost Total Cost (TC) (ATC) Plot MC at Output Cost Cost IFC VC $600 $ 0 $ 600 I XX XX XX XX $3.00 $300 50 100 600 300 900 I $6.00 $3.00 $9.00 100 1.00 150 200 600 400 | 3.00 2.00 5.00 50 .50 - 250 300 1050 I 2.00 1.50 1.00 350 400 1150 I 1.50 1.38 2.88 200 2.00 - 450 500 600 750 1350 I 1.20 1.50 550 600 600 1200 1800 3.00 10.00 - 650 700 2200 2800 I.85 3.15 PLOT THE APPROPRIATE DATA FROM THE PRECEDING TABLE ON THE GRAPHS ON P. 134 AND 135 BEFORE ANSWERING THE EIGHT QUESTIONS BELOW. QUESTIONS 5-8 ARE ON PAGE 136. 1. How is marginal cost (ATC/AQ) represented in your graph on page 134? 2. On your graph on page 135 Variable Cost per unit (VC/Q or average variable cost) is at a minimum at an output level of, units. 3. On your graph on page 135 Total Cost per unit (TC/Q or average…1. The cost-revenue data for a manufacturing company Item Cost or Revenue Selling price $85/unit Material and maintenance $25/unit Direct Labor cost $20 /unit Other costs /unit =70% of the labor cost/unit Find it out All fixed costs $130,000 1. Find the break-even quantity 2. If marginal cost beyond the break-even quantity, to 7000 units is $40/unit, what is the average cost to make 6000 units? (round the value. no decimal)F a) Draw the demand process cycle and label it fully. b) A door company has the following materials in inventory. Inspect the table below and answer the following questions Material Average (in Kilograms) Price Aluminum 3884 $3.0 Steel 5850 $1.4 Iron 200 $1 Work in Progress Average Price Fence 78 230 Final Products Average Price Door 300 300 Window 550 240 i. Calculate the number of turns. ii. Calculate the cost per day.