Q: Calculate profits given:- Total revenue = $10,000 Total cost = $7700
A: The data presented in the question above is:- Total revenue = $10,000 Total cost = $7700 Using this…
Q: Total revenue of the firm is $3500 and the price per unit is $70 Calculate output
A: The data presented in the above question is:- Total revenue = $3500 Price per unit = $70 Output is…
Q: otal cost is equal to average cost times marginal cost. a. True O b. False
A: Answer - True Total cost is equal to average cost times marginal cost. Explanation Total cost is…
Q: IPCSB.52 A yoga studio has two big costs: rent and labor. They decide that they want to move to a…
A: A short-run production function tells us how a firm makes use of its variable factors to facilitate…
Q: Firm Measures: Productivity, Costs, Revenues, and Profits Labor Total Product (TP) Fixed Cost (TFC)…
A: The marginal product of labor (MP) refers to an increase in total production when one additional…
Q: Total cost divided by quantity of outout is Select one: a average variable cost b. average total…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Price, marginal venue, marginal cost, average total cost $35 ATC 29 26 MC 160 220 250 300 Quantity…
A: The profit is maximized where the MR = MC.
Q: Carson used $800 000 of their savings to open a coffee shop. The savings account paid 2% interest.…
A: We know that the economic profit is the difference between the total sales revenue of output and the…
Q: firm uses 23 employee-hours, it will produce, _units of output and experience total cost of
A:
Q: Total Cost Fixed Cost Variable Marginal Cost Average Fixed Cost Average Variable Average Total…
A: The average variable cost (AVC) is the total variable cost per unit of output. This is found by…
Q: computation and give illustration through diagram • Behavior of Variable and Fixed Cost • Marginal…
A: Cost is the expense incurred to any business to produce any good or services. Th cost can be broadly…
Q: IIT Ball Bearings Inc. faces costs of production as follows: Quantity Total Fixed Cost Total…
A: (A) Total Cost = Total Fixed Cost + Total Variable Cost Marginal Cost = Change in Total Cost /…
Q: If average revenue is $44 and output is 20 units Calculate total revenue
A: Given information, Average Revenue (AR)= $44 Total output (Q)= 20 units To find: Total Revenue
Q: Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account…
A: Given:Implicit cost:=4,00,000*5%=$20,000Explicit cost=Incurred cost=$12,000Total…
Q: Variable Average Average Average Marginal Total Total Cost Fixed Cost Profit Cost Total Cost…
A: Answer to the question is as follows:
Q: 9. Average cost goes up when A. marginal cost goes up B. marginal cost goes down C. marginal cost…
A: There are different costs involved in the production process. Total cost, variable cost, average…
Q: a. Graph marginal cost (MC). Instructions: Use the MC' tool to draw the marginal cost curve point by…
A: A competitive firm maximizes profit by producing that quantity of output where marginal cost equals…
Q: Research/ Thesis title about Industry based
A: Research is the systematic of data collection and summarisation in suitable methodologies to suit…
Q: If average cost is $30 and the total cost is $900 What output must the firm have produced
A: Total Cost(TC) is the total amount incurred by the firm in production of given quantity. Average…
Q: Find the value of Z. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000 $4,000 $1,000…
A: Total cost is the sum of variable cost and fixed cost. Variable cost depends on quantity whereas…
Q: Find the value of X. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000| $1,000…
A: Total cost is the sum of fixed cost and variable cost
Q: Write a short note on Increasing economies of scale – meaning and effect on costs
A: The production function depicts the technical association between the quantities of output (Q) that…
Q: able 11-6 Quantity of workers Quantity of foot massages per day Fixed cost Variable cost Total…
A: We have per day fixed cost of message booth..
Q: Q)What type of cost is the tuition paid for college credit after the census date when a refund is no…
A: In economics, cost is classified into different categories according to its influence on an…
Q: #6 Multiple choice For each size plant a manufacturer could build, there is a different A. long run…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Figure: Market for Rides Price and cost (dollars per ride) 16 ATC (for 1 firm) 12 8 Demand 4 10 20…
A: * ANSWER :- (6)
Q: Mary Magnolia wants to open a flower shop, the Petal Pusher, in a new mall. She has her choice of…
A:
Q: The average cost is $13 and the output pro- duced is 10 units Calculate total cost
A: The information being given is:- Average cost = $13 Output = 10 units Total cost = ?
Q: As total output increases average fixed cost v (Click for List) constant at a maximum falling rising…
A: Variable costs refers to those costs which depends upon the level of output. These costs increases…
Q: Find the value of Y. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $1,000| $1,000…
A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building,…
Q: Calculate accounting profit if :- Total revenue = $3000 Explicit cost = $3000
A: The data presented in the question above is:- Total revenue = $3000 Explicit cost = $3000…
Q: Profits for Mia's chocolate shop is $2300 Total revenue generated is $4100 Find the value of…
A: The information being given is:- Profit for chocolate shop = $2300 Total revenue = $4100 We have to…
Q: A publisher plans to sell 200,000 copies of textbook in a year. If it costs $3750 to set up a…
A: Given the information: Plan to sell copies = 200000 Cost to set-up printing = $3750 Cost to print a…
Q: (a) Explain clearly the difference between accounting cost and economic cost. (b) Explain whether…
A: Running a company necessitates a constant awareness of the financial factors that influence net…
Q: Fill in the remaining cells of the table. (Note: If a value is a decimal, round to the nearest…
A: MC = Change in TC / Change in Q AFC = TFC / Q AVC = TVC / Q ATC = TC / Q Q TFC TVC TC MC AFC AVC…
Q: . The Great Outdoors Tent can be purchased from a wholesaler for $58 less discounts of 30% and 7%.…
A: Price: It refers to the cost of goods and services. The less the price of the goods and services the…
Q: A firm produces one good and has average cost equal to 115, average variable cost equal to 75, and…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a…
A: Marginal productivity of labor= change in total productivity / change in labor
Q: Calculate total profit when total revenue is $700 and total cost is 60% of total revenue
A: The data presented in the question above is:- Total revenue of firm = $700 Total cost = 60% of total…
Q: out put Total Cost 100 Fixed Case Marginal Average Cost Average VC 10+8) Co))
A: Total cost is the monetary expenditure incurred in the production of goods. Total cost is the sum…
Q: Find the value of B. Quantity Total Cost $5,000 Fixed Cost Variable Cost $1,000 $1,000 |Average…
A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building,…
Q: Costs
A: The amount pay to buy something ie good or service or the expense which is paid to have something .…
Q: Calculate total revenue given:- Profit = $500 Total cost = $1100
A: The data presented to us is:- Profit = $500 Total cost = $1100 Using this we have to find total…
Q: Rent of the factory is a variable cost True/False
A: The cost of goods or services refers to the amount of money spent by a corporation on their creation…
Q: year to rent the location and buy the merchandise. In addition, he would have to quit his $63000 per…
A: A economic benefit or loss isthe distinction between the income got from the offer of a yield and…
Q: (pizzas per hour) Cost Cost Cost Cost Fixed Variable Cost Revenue Revenue (dollars (1) (2) (3) Cost…
A: Fixed cost is independent of output produced.
Q: The change in fotal costjof proaucCuọn as the output or total product of the business is expanded…
A: Production cost refers to the overall cost of manufacturing a given amount of a good or selling…
The rental of property is considered as
a. increment cost
b. fixed cost
c. variable cost
d. first cost
Step by step
Solved in 2 steps
- 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…Calculate and plot the following: No of units Total cost 0 2 1 9 2 12 3 15 4 20 5 30 6 42 Variable cost Fixed cost Average fixed cost Average variable cost Marginal costStuey the VP for advertising at the Meg-low Mart is trying to sell Meg-Low Mart Body Spray for $1.99 per unit. His variable cost for each unit $0.75. Knowing their AED is .31 calculate the optimal amount that should be spent in advertising.
- 3-1 Fixed-Cost Fallacy Describe a decision made by your company that involved costs that should have been ignored. Why did your company make the decision? What should it have done? Compute the profit consequences of the change.What is the overhead cost for a company? The profit desired Labor costs The cost of doing business Both a and bd Profit(x) dx 9) Find the marginal profit function. 10) How many units should they sell in order to maximize their profits? 11) What price should they charge in order to maximize their profits?
- 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? ExplainQuick Check Multiple Choice No (3) A firm is producing 1,000 units at a total cost of $5,000. If it were tom increase production to 1,001 units, its total cost would rise to $5,008. What does this information tell you about the firm? (a) Marginal cost is $5, and average variable cost is $8. (b) Marginal cost is $8, and average variable cost is $5. (c) Marginal cost is $5, and average total cost is $8. (d) Marginal cost is $8, and average total cost is $5.Input (Workers) Output TFC ($) TVC ($) Total Cost ($) 0 0 50 0 1 8 50 40 90 2 20 50 80 3 28 50 120 170 4 35 50 210 5 41 50 200 250 Refer to the provided table. The average total cost of producing 20 units of output is Multiple Choice $4.00. $4.50. $6.50. $8.50.