Q: The total cost of production equals Select one: a. average total cost + average variable cost b.…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Tolal Fbed Total Varlable Cost Tatal Total Cost Cost Variable Cost Flved Cost Product Cast 60 00 45…
A: FIXED cost is independent of output produced thus the required fixed cost is $ 60 whereas variable…
Q: An implicit cost is another name for a(n): Explicit cost Production cost Economic…
A: Option D Implicit cost is a cost to a business that occurs due to the cost of resources that were…
Q: The difference between variable cost and fxed cost is that Select one: a. fixed cost is paid even…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Jim cannot work for a week due to illness. [ Select | [ Select ] explicit cost implicit cost Norman…
A: "Since you have asked multiple parts, we will answer only first three parts for you. If you have any…
Q: UESTION ONE 1.1 Discuss the relationship between the three short-run total cost curves. Use a…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: If output is 34 unit and total cost is $1300 Find average Cost
A: According to the question, the values given are:- Output = 34 units Total cost = $1300 We need to…
Q: The first unit of a product took 1,000 hours to build and the learning curve is 85%. How long will…
A: To produce the first unit takes 1000 hoursTo produce second unit = TN=T1(Nb) T2=1000×(2log2 0.85)=…
Q: Economies of Scale
A: All the firms total cost meeps on increasing.
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A: Given: Fuel=$25000 seed, fertilizer, and pesticides=$40000 Equipment=$25000 Other occupations=$20000
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A: Hi! Thank you for the question but as per the guidelines, we only answer one question at a time.…
Q: A Closer Look in the Economies of Scale Businesses wanted to reduce their cost to the minimum…
A: Companies benefit from economies of scale when their production gets more efficient. Economies of…
Q: Explain what a sunk cost is, what an opportunity cost is, and how each cost should be handled when…
A: Sunk cost refers to the cost or the expense that is already made and can be no longer recovered.…
Q: FIRM X SPENT $100m to upgrade its equipment last year. this year, the amount represents: a. An…
A: Taking definition of each statement An accounting cost : its cost of operating a business it…
Q: he cost a company incurs each month when it produces q pairs of shoes. Graph the average cost and…
A: AC(average cost) is the ratio of TC(total cost) and q(quantity). MC(marginal cost) is the derivative…
Q: What does the Cost basis generally include?
A: In engineering economics, the cost basis of an asset represents the total cost of an asset that…
Q: 4. Firm's Costs Your cousin Vinnie owns a painting company with fixed costs of $250 and the…
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Q: Average cost is $30 and the total cost is $900 Calculate the output
A: Average cost is the per unit cost of producing an output.
Q: Total cost is $615 and output is 21 units Calculate average total cost
A: The information given to us is as follows:- Total cost = $615 Total no of output = 21 units We…
Q: What are their implications for cost and return?
A: The method of directing capital among savers to organizations that require it is known as finance.
Q: _________ refers to the additional cost spent to produce one more unit of the product. a. Marginal…
A: Money cost is the nominal cost and the cost that is spent by the firm in producing the commodity.…
Q: How to calculate the Average cost of producing 1, 2,...15
A: average cost = C/Q = 1000 + 100*Q for every Q we first calculate the C by using the formula C=1000+…
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A: Given Information: Output (Q) TFC TVC 0 12 0 1 12 10 2 12 16 3 12 21 4 12 28 5 12 40…
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A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: y C= 600 + 40Q^0.3 + 5 Q^2: a) Find out the fixxed cost, variable cost, margina ost average variable…
A: Variable costs vary based on the amount of output produced. Variable costs may include labor,…
Q: Average cost is $100 and the output is 70 units Calculate total cost
A: The information given to us is as follows:- Average cost of the firm = $100 Output of firm = 70…
Q: Need answers ASAP... Which of these costs is considered as the most important cost because if it is…
A: The firm produces goods and services and incurs cost including fixed cost and the variable cost.The…
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A: The economics as a study is associated with the use of decision making, and choice making, as the…
Q: Quantity Average Fixed cost Fixed Cost Total Total Average Variable Total Cost Average Total cost…
A: A company must bear two forms of costs while production, variable costs and stuck costs. Variable…
Q: Total Total Average Average Average Total Marginal Variable Fixed Cost $200 Output Fixed Variable…
A: The firm produces various goods and services and results in various costs on the production of goods…
Q: Quantity produced Fixed Cost 6,000 6,000 Number of workers Variable Cost 1,000 1,900 2,700 3,400 1…
A: Answer: Given that: Number of workers Quantity produced Fixed Cost Variable Cost 0 0…
Q: True or False The average total cost cannot equal marginal cost.
A: Average total cost It refers to the total cost per unit of production. ATC = TC/Q where ATC is…
Q: A business incurs the following costs: • Labor: $105/unit • Materials: $40/unit • Rent:…
A: Given Information • Labor: $105/unit • Materials: $40/unit • Rent: $350,000/month Firm…
Q: Describe the unit-of-production method?
A: Answer - Unit of Production method - It is method which help to calculate depreciation of value of…
Q: If the direct cost are 61 and the indirect cost are 173 find the total cost?
A: Generally in the given question Direct cost are given as = 61 Indirect cost stated as = 173 Value of…
Q: Imagine a smartphone company has the following costs when they produce 200 phones: $50 in average…
A: When some product is manufactured, cost takes place and process of business gets accelerated.…
Q: Emco Company has an assembly line of fixed size A. Total output is a function of the number of…
A: MPL = Change in Q / Change in L APL = Q / L L Q MPL APL 0 0 1 10 10 10 2 35 25 17.5…
Q: The cost that cannot be recovered if a firm goes out of business is known as __________. a. Cost of…
A: If a firm goes out of business then some of the costs can not be recovered such as Advertising…
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…
Q: A company is planning to manufacture mountain bikes. The fixed monthly cost will be $100,000 and it…
A: Since you have asked a question with multiple subparts, we answer the first three for you. If you…
Q: Question: The costs which vary as the level of putput varies are called: ) Prime costs ) Indirect…
A: Cost basically refers to the monetary value of goods or services that the consumers buy and the…
Cost schedule refers to the table that shows the total cost of production at different levels of output.
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