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- Variable costs are sunk costs. costs that change every day. costs that change with the level of production.Variable costs are sunk costs. costs that change every day. costs that change with the level of production. the change in total cost due to the production of an additional unit of output.Write a short note on Increasing economies of scale – meaning and effect on costs
- As total output increases average fixed cost v (Click for List) constant at a maximum falling rising at a minimumWhen marginal cost equals average variable cost, average variable costiv (Click for List) falling constant at a maximum at a minimum risingDoug produced 100 donuts but only sold 90 of them. The average cost of production for each donut was $1. Each of the 90 donuts sold was sold for a price of $1.20. What was Doug's total revenue? $108 $100 $8 $120.
- What is the total revenue when output is 1, total cost is 35, marginal cost is 10, fixed cost is 25, average cost is 35.A computer company produces affordable, easy-to-use home computer systems and has fixed costs of $250. The marginal cost of producing computers is $700 for the first computer, $250 for the second, $300 for the third, $350 for the fourth, $400 for the fifth, $450 for the sixth, and $500 for the seventh. Create a table that shows the company’s output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for $500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVC curves to illustrateMarginal cost tells us a. the amount fixed cost rises when output rises by one unit b. the marginal increment to profitability when price is constant c. the value of all resources used in a production process d. the amount total cost rises when output rises by one unit
- Four Seasons Brewery has a variety of costs. Label which cost is EXPLICIT and which cost is IMPLICIT. Bartender, paid an hourly wage- Owner's brewing expertise- Hops bought from farmers to flavor the beer- Vats owned by four seasons to store the beer- Building, which is rented, in which to brew- Water bought from the city-Fill out the following cost chart. Round to the nearest tenth.Naming the components of key costs involved for the restaurant including fixed costs and variable costs (wages,raw materials...). Explaining the meaning of each cost.