Q: Graph the total cost lines.b) Over what range of annual volume is each facility goingto have a…
A:
Q: Two firms, A and B, produce identical product (crude oil, for instance) have the same cost curves…
A: Here, the given graph shows the marginal cost and average total cost of two firms and the total…
Q: (Figure: Costs of Oil Production) Refer to the figure. Assuming that price equals marginal cost, the…
A: Total profit refers to the remaining total revenue of a firm after deducting all the costs.
Q: A. At XYZ Restaurant, which sells only pepperoni pizza, has the cost profile: (Note that variable…
A: Given; Fixed costs= $5650 Variable costs= $5.56 Price= $10
Q: Question 2 (total product is Q of production) Total product TFC AFC TVC AVC TC MC $4 $_ $. 1 $12 2…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: 1. April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: QUESTION 2 Classify the following statement as true or false. Justify the answer. The justification…
A: Given; Efficient scale of production= 80 units Market demand function; Q=5000-1000P Number of firms…
Q: The relationship between sales (units sold) and profit is shown in the diagram below: A Quadratic…
A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…
Q: Question attahed in image
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Caroline opens a lemonade stand for two hours. She spends $15 for ingredients and sells $50 worth…
A: In economics, the cost is divided into two types such that implicit and explicit according to which…
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: a) Output TC MC ATC 25400 104000 0.54 104000/25400= 4.09 50400 154000 1.04 154000/50400= 3.05…
Q: Interpret in below diagram and determine at what point the short rus firm will shut down their…
A: When a firm enters and make production to sell the output in the market, it has the primary aim to…
Q: Calculate the economic losses for Firm 1 if they decide not to produce -$_ 用目 Firm 2 Firm 1 Output =…
A: Here, given information about firm 1 is: Output: 10 Average fixed cost: $1 Average variable cost:…
Q: H(E) = aE – bE?, with a, b representing positive constants and E is fishing effort. Total cost is…
A: For a set of preset factor prices, the cost function finds the lowest cost of producing a specific…
Q: In a fishery the long-run harvest function (harvest volume) is H(E) = aE – bE², with a, b…
A: Harvest function : H(E) = aE - bE2 Total Cost function : TC (E) = cE Total Revenue : TR (E) = pH(E)…
Q: Question attahed in image
A: In perfect competition, the equilibrium point will occur where the marginal cost and price interest…
Q: Total Cost Output (Units) ($) 50 10 120 20 170 30 210 40 260 50 330 60 430 Total costs include a…
A: MC = Change in TC / Change in Q ATC = TC / Q Q TC Change in TC Change in Q MC ATC 0 50…
Q: If the firm produces 4 units of production at a price of 8 monetary units each, and the total fixed…
A: The difference between total cost and total revenue decide whether there is economic profit or…
Q: Study the graph given below: MC ATC AVC 10 14 24 30 40 44 47 62 66 68 At which of the following…
A: A market is the collection of buyers and sellers. There are firms in the market that produce output…
Q: A soybean farmer produces beans for soybean meal and soybean oil. She has fixed costs of $500 and…
A: profit maximization is the short run or long run process by which a firm may determine the price,…
Q: A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations…
A: Answer: Given, Demand equation: p=400-0.5x Cost equation: Cx=20,000+140x (A). To find the quantity…
Q: Answer the attached question
A: Answer: Formulas to be used: TVC=L×PL (price of labor)TC=TVC+TFCMC=change in total costchange in…
Q: Your friend decides to travel abroad to a popular destination to operate a business. He is faced…
A: Given: Total Fixed Cost: $ 2000 per month Constant Marginal Cost: $ 31
Q: There are two approaches to determine profit maximizing level of output: (1) total revenue– total…
A: Total profit is the difference between total revenue and total cost
Q: Use the graph to answer the following: a. If the market price is $8, determine the optimal…
A:
Q: Q: A company discovers the following economic information about its costs and demand function:…
A: Profit is the difference between total revenue and total cost.
Q: Use the table Costs for Alina's Apple Pies. If Alina's Apple Pies operates in a perfectly…
A: Difference between total revenue and total cost gives the economic profit of a firm.
Q: TR = 25Q - 2Q² TC = 32 + 5Q Please create a graph illustrating relationship between the Total…
A: Total revenue is the amount generated by sales of the goods and services and it is obtained by…
Q: Firm A Firm B Firm C Price where output is equal to zero (R) 2000 1500 60 Profit maximising price…
A:
Q: The diagram below suggests that the farmer will break-even if output is units. PhP MC ATC 24 P = MR…
A: Fixed costs are expenses that do not change independent of a company's level of output. Rent, fixed…
Q: A competitive firm faces the following market price: P=200. Variable costs are C(Q)=Q^2. The firm…
A: Total cost is the sum of fixed cost and variable cost. Sunk costs are fixed costs which cannot be…
Q: MC 13 ATC D AVC Units of output Figure 9.3 2.1) The firm's shutdown point corresponda to Paint (IM)…
A: Here, the given graph represents the marginal cost, average variable cost and average total cost…
Q: Kieron is currently working as an automobile detailer who earns $45,000/year. He currently has…
A: The cost of the next best alternative which is foregone is reffered to be as the opportunity cost…
Q: 6. A firm manufactures and markets a product that sells for Birr 20 per unit. Fixed costs associated…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: 1.- A company that works in a perfectly competitive market has a total cost function: TC = Q3 -…
A: A company works in a perfectly competitive market. We know that under perfect competition, in order…
Q: 1. Upon signing the lease and paying 5,000 php, how large are ACME’s fixed costs? Its sunk costs? 2.…
A: The phrase "cost analysis" refers to a mensuration of the cost-output relationship, i.e., economists…
Q: Calculate the Gross Profit Ratio from the following information :- 2010 2011 ales (Revenue from…
A: Gross profit ratio formula: Gross profit ratio =Gross profitsales or revenue
Q: A firm TC = 120 + 50g - 10q? + q* Find the equations for a) Total Variable Cost b) Average Variable…
A: Question Two: TC = 120 + 50q - 10q2 + q3 (A) Variable cost is that part of TC which depends on…
Q: Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: 1.…
A:
Q: (b) Formidable Manufacturing Company has the following cost functions in the short run, where…
A: In short-run, there are two kinds of cost borne by the business company. These are fixed and…
Q: If MR < MC, economic profit decreases if None of the above (A Output decreases (B Output increases…
A: The marginal cost of production and marginal revenue are economic indicators for determining the…
Q: her competitor in the long run. Main Avenue's ngth is 1 mile. The transportation cost sociated with…
A: Marginal cost alludes to the increment or diminishing in the cost of creating another unit or…
Q: MC ATC -AVC 12 D. AR 200 300 360 Number of Balduen High School yearboolos igure 10.5 The short-run…
A: A monopoly is a sole producer of a good in the market thus acting as a price maker whereas in a…
Q: Two firms, A and B, produce identical product (crude oil, for Instance) have the same cost curves…
A: Given the following information is: The lowest possible price that is minimum of ATC = 20 At lowest…
Q: a. Refer to Table calculate explicit costs for this firm? b. Refer to Table calculate implicit costs…
A: a. Explicit costs are resulted from the production process or these are direct costs of the…
evaluate the long run sustainability of the above scenario for the firm. explain how the graphs A and B would change in the long run
Step by step
Solved in 2 steps with 1 images
- Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?How does fixed cost affect marginal cost? Why is this relationship important?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 980
- What is the marginal cost associated with producing three units of the contral variable, O (identify point E in the tablej? 36 Total Total Costs Benefits Benefit Net Marginal Marginal Narginal Net Bеnefit Control variable Benefits Cost MB(0) MC (Q) MND (0) Sepped B(Q) C(0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 4 1,000 2,000 600 400 200 3,500 1,500 2,000 500 500 600 1,800 1,400 3,900 2,100 D -200 4,200 4,400 2,800 300 700 -400 200 100 800 800 -600 4,500 4,500 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 50 100 200 300pols Add-ons Help Last edit was seconds ago xt I UA Calibri 11 + 三 2 | 3 II | I 4 II| II6 4. Thanks to years of consistent contracts and an outstanding administration, Crestwood High School has formed one of the best teaching staffs in the State of Michigan. This staff has learned how to work seamlessly with each other and students. They are now able to effectively teach more students in every class than before. *Name the determinant: Automakers have introduced new heating lamps to their paint shops that allow them to dry layers of paint faster than ever before. These newly invented heaters use less energy and have greatly increased output. 5. *Name the determinant: 27°C Rain II 近What is the total cost associated with producing eight units of the control varlable, a (identify point B in the tablej? 34 Marginal Harginal Harginal Net Bеnefit Control Total Net Costs Benefits Benefit Total variable Benefits Cost Sepped B(Q) C(Q) MB(0) MC(0) MND (0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 1,000 1,500 400 500 2,000 2,000 1,800 1,400 4 600 200 3,500 500 3,900 2,100 D 600 -200 4,200 4,400 4,500 2,800 300 700 -400 800 200 800 -600 4,500 100 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 3,000 3,600 3,800 4,200
- 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.Unsure of what to do for the graphsGraph the ATC and MC below and explain output ATC MC 0 - 10 10 18 2 20 10 1 30 7 0.5 40 5.375 1.5 50 4.6 2 60 4.166667 2.5 70 3.928571 3.3 80 3.85 3.2 90 3.777778 5 100 3.9 9 110 4.363636 10 120 4.833333
- 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…Unsure what the new graphs should look likeHere's the table showing quantity and total cost Q - 0, 1, 2, 3, 4, 5 TC - 8, 9, 10, 11, 13, 19 Calculate MC.