23 ABC Electronics is a company that sells smartphones. If the Montly demand for a partcular smarthphon Model is 1000 units. The cost to place an order is Rioo, and the Carrying costs per unit per year is RS. The company Operates for 250 business Economic Order Quantity, CEOG 7 year. Caculate the Model. Calculate the EOQ. the Smarthphone

Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?

What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?

Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?

In choosing a production technology, how will firms react if one input becomes relatively more expensive?

Small Mom and Pop firms, like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this?

What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?

Are fixed costs also sunk costs? Explain.

Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?

Save The production function for a product in given by q-100KL mergnal product functione MP100K end MP100 he poe of cp,cs00 per day wnd the priefer, w, in S400 per day, what the minimum cost of producing 10,000 units of oupun The minimum cost of producing t10,000 units of output is Round al intemediate retb deciml placand erter your pone unded te deia ps