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A:
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Q: q3- The average total cost curve is increasing when marginal cost is: Select one: a.…
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Q: Define the term Cost Reduction?
A: Cost reduction is the mechanism that businesses use to cut costs and increase profits.
Q: 2 Find the total cost function given, the fixed costs are $200 and the variable cost per unit is a…
A: total cost is addition of fixed cost and variable cost. In this Fixed cost = $200 and variable cost…
Q: The portion of a long run average cost curve that is downward sloping is called the range of: Group…
A: The long-run average cost curve is the cost curve which helps to analyze the cost function of the…
Q: Activity: Illustrate and explain the following concepts: a. Least cost factor combination using…
A: (Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Distinguish between/among The short run total fixed cost, total variable cost and total cost.
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…
Q: Which of the following statements is false? If marginal cost is rising, then average variable cost…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The variable cost per…
A: Costs are the expenses that firms incur in the production of goods and services.
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Q: if average variable cost is 15, and total variable cost is 180 and total fixed cost are * 120, then…
A: The fixed costs do not change (remain constant) with the change in the quantity of output and the…
Q: Marginal cost is calculated for a particular increase in output by Question 1 options: A)…
A: Marginal cost refers to an additional cost of producing one more unit of output.
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A: In order to form the total cost equation, we will take the given data and make a regression…
Q: Average variable cost and average total cost get closer as output increases because a) productivity…
A: ATC = AVC + AFC So, AFC = ATC - AVC (= distance between ATC and AVC curves) Also, AFC = TFC / Q As Q…
Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis.…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: A downward-sloping portion of a long-run average total cost curve is the result of a.the existence…
A: The total cost is the sum of fixed cost and variable cost in the production process. When the total…
Q: 30. If the total variable cost is 50 and the total cost is 200, then we know that the total fixed…
A: Total cost = Total fixed cost + total variable cost. Using the definition of total cost we have.
Q: The output level at which long-run costs are minimised is known as: (a) Average fixed cost; (b)…
A: Total cost is the cost incurred by the firm on hiring factors of production to produce the final…
Q: . For the cost function C(Q)= 100+2Q+3Q2 the average fixed cost can be represented by the following…
A: Average Fixed Cost = Total Fixed Cost/Output Total fixed cost = 100 AFC = 100/Q
Q: Which of the following describes an implicit cost? NO opportunity cost is involved. NO outlay of…
A: Cost can be of two types, explicit cost and implicit cost.
27) The difference between total cost and total fixed cost
a) is same for every output level
b) varies with output
c) is total fixed cost
d) is stated by both (a) and (c)
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- The fixed overhead expense of a manufacturer of children’s toys is$400 per week, and other costs amount to $3 for each toy produced. Find (a) the total cost of function (b) the average cost function, and (c) the marginal cost function. (d) show that there is no absolute minimum average unit cost. (e) what is the smallest number of toys that must be produced so that the average cost per toy is less than $3.42? (f) Draw sketches of the graphs of the functions in (a), (b), and (c) on the same set of axes.Your boss is the director of reporting for the Athens County Construction Agency (ACCA). It has been his job to track the cost of construction in Athens County. Twentyfive years ago, he created the ACCA Cost Index to track those costs. Costs during the first year of the index were $14 per square foot of constructed space (the index value was set at 100 for that first year). This year a survey of contractors revealed that costs were $70 per square foot. (a) What index number will your boss publish in his report for this year? (b) If the index value was 500 last year, what was the cost per square foot last year?A cost function is given. C(q) = 3600 + 5q-0.02q² + 0.00039³ (a) Find the average cost and marginal cost functions. +5 -0.02q +0.0003q average cost 3600 9 marginal cost 5 -0.04q+0.0009q (b) Use graphs of the functions in part (a) to estimate the production level that minimizes the average cost. (Round your answer to the nearest integer.) 194 ✓ units (c) Use calculus to find the minimum average cost. (Round your answer to two decimal places.) $ 32.41 X (d) Find the minimum value of the marginal cost. (Round your answer to two decimal places.) $ 4.56
- If average cost function is :- 13Q - 54 Find the total cost function(b) A firm has an average cost function Acg) = + 125 q2 4. 16 A(q) %3D where q is the firm's output. (iv) Write an equation for the total cost function. (v) Hence calculate the level of output for which total costs are minimum.A company manufactures and sells book-cases .The selling price is $54.90 per book case.The total cost.The total cost function is linear, and cost amounts to $50,000 for 2,000 book-cases and $32,120 for 800 book-cases. (a)Write the equation for revenue.(b)Write the equation for total cost. (c)Find the break even point.
- ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above(b) A firm has an average cost function A(q) = 125 q + q 2 16 − 4. where q is the firm′ s output. (i) Determine the level of output for average costs are minimum. (ii) Hence determine the range of values for which average costs are decreasing. (iii) What part of the decreasing range is practically feasible? (iv) Write an equation for the total cost function. (v) Hence calculate the level of output for which total costs are minimum. Can I get the answer for (iv) and (v) pleaseQ.6 To express relationship between the average cost functions, which of the following is true: (a) ATC = AFC - AVC. (b) AVC= AFC + ATC. %3D (c) AFC= ATC + AVC. (d) AFC= ATC – AVC. %3D