please pick an example of three types of costs that a business can incur and briefly explain whether or not they are fixed, variable or a combination of the two. Make sure that you are clear in your description and explanation
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A: Marginal cost is the additional cost that is required in order to produce an additional unit.
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A: * SOLUTION :- Given that ,
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A: ** SOLUTION :- Based on the given information the answer is provided as below.
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please pick an example of three types of costs that a business can incur and briefly explain whether or not they are fixed, variable or a combination of the two. Make sure that you are clear in your description and explanation.
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- What is a cost that changes with the change in volume of activity of an organizationMarty used to be a bartender making $5,000 a year but he quit in order to become a clown that does shows at birthday parties. His clown car and costumes cost $7,000 and he did a lot of shows in the past year, making $13,000 in revenue but paying $2,000 in variable costs for balloons, gas, etc. Marty asked an accountant and an economist to calculate his profit. What did they report?Research an instance of an actual firm that has been engaged in cost-cutting measures. What actions specifically are being taken and considered? Has the cost-cutting been effective? Cite the source of your information.
- Write down the problem the car manufacturer solves to find the levels of 'K' and 'L' that minimize cost. What two equations are used to solve it?Use the accompanying graph to answer the following questions. Assume the company makes 83,000 parts per month of Product A and 39,000 parts per month of Product B. Click the icon to view the provided graph. (a) Which Product has the higher variable cost, and what is this value in units of dollars per part? Product B has the higher variable cost. This value is $.50 /part. (Type an integer or a decimal. Round y (b) Which Product has the higher selling price, and what is this value in units of dollars per part? Product B has the higher selling price. This value is $ 1.69 /part. (Type an integer or a decimal. Round (c) Which Product has the faster breakeven time, and what is this value in units of months? Product B has the faster breakeven time. This value is 22 month(s). (Type a whole number.) (d) At 6 years, which Product makes more profit and what is this value in units of dollars? At 6 years Product A makes more profit. This value is $4,850,000. (Type a whole number.) k my instructor…Give correct typing answer with explanation
- Please add the total cost to produce the assemblySuppose that you want to open a new business or purchase an existing one. Describe that business. What good or service would you provide? Where would you be located? What would be some explicit costs of starting the business? What would be some implicit costs?definition of economic costs
- Show complete solution and do not use excel.Fig 2.1 illustrates the law of diminishing returns in seeking the optimum system (or component) performance and hence the need to balance the performance against the cost. Give examples of two pairs of characteristics other than performance versus cost where optimizing one frequently competes with the other, and briefly explain why they do.Give some specific examples of Product Costs?
