Total Product 0 2 3 Total Variable Cost $0 185 285 Number Total Cost 450 635 Number 785 Average Fixed Cost Average Variable Cost Average Total Cost 450 225 Number Number 142.5 111.666667 635 Number 261.666667 Marginal Cost Number Number Number
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- Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost 1 $ 150.00 $ 25.00 $ 175.00 $ 25.00 2 75.00 23.00 98.00 21.00 50.00 20.00 70.00 14.00 4 37.50 21.00 58.50 24.00 15 30.00 23.00 53.00 31.00 6. 25.00 25.00 50.00 35.00 7 21.43 28.00 49.43 46.01 8 18.75 33.00 51.76 68.07 16.67 39.00 55.67 86.95 10 15.00 48.00 63.00 128.97 The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $68.10, it will produceBall Bearings, Inc., faces costs of production asfollows:Quantity (cases) Total Fixed Cost Total Variable Cost0 $100 $ 01 100 502 100 703 100 904 100 1405 100 2006 100 360a. Calculate the company’s average fixed cost,average variable cost, average total cost, andmarginal cost at each level of production.Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost $ 25.00 1 $ 150.00 $ 25.00 $ 175.00 75.00 23.00 98.00 21.00 3. 50.00 20.00 70.00 14.00 4 37.50 21.00 58.50 24.00 5 30.00 23.00 53.00 31.00 25.00 25.00 50.00 35.00 7 21.43 28.00 49.43 46.01 8 18.75 33.00 51.76 68.07 9. 16.67 39.00 55.67 86.95 10 15.00 48.00 63.00 128.97
- Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for variable costs: Quantity (Houses Painted per Month) 1 2 3 4 5 6 7 The efficient scale is Variable Cost (Dollars) 8 20 50 160 houses. 320 500 720 Average Fixed Cost Average Variable Cost Average Total Cost (Dollars) (Dollars) (Dollars)Fill in the remaining cells of the following table. Average Total Cost (Dollars per pair) Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) 120 1 200 240 285 4 340 425 6. 540
- Average fixed cost is $22 and output is 12 units Calculate total fixed costCalculate average cost when total cost is $100,000 and output is 74 unitsTotal Total Total Average Average Average Product Fixed Variable Total Marginal Fixed Variable Total (Blankets) Cost Cost Cost Cost Cost Cost cost A B 1 70 25 95 70.0 25.0 95.0 F 70 40 110 35.0 D E 15.0 3 70 50 120 23.3 16.7 40.0 10.0 70 55 125 17.5 13.8 31.3 C 70 55 125 14.0 I J 0.0 70 70 140 11.7 11.7 23.3 15.0 70 G 170 14.3 24.3 30.0 70 145 215 8.8 18.1 26.9 45.0 The table describes the short-run daily costs of the Baby Blanket Company. What is the numerical value of A? What is the numerical value of B? ス 456 78 2.
- Healthy Harry’s Juice Bar has the following cost schedules:Q VARIABLE COST TOTAL COST0 0 301 10 402 25 553 45 754 70 1005 100 1306 135 165Calculate average variable cost, average total cost and marginal cost for each quantity. Graph all three curves. Also explain the relationship between:i) Marginal cost curve and the average total cost curveii) Marginal cost curve and the average variable-cost curveCalculate 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 costYour cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs: Quantity Variable Cost Average Fixed Cost Average Variable Cost Average Total Cost (Houses Painted per Month) (Dollars) (Dollars) (Dollars) (Dollars) 1 10 2 20 3 40 4 80 160 6 320 7 640 The efficient scale is houses.