38. Graphically, where is average fixed cost (AFC)? It is below price but above average variable cost (AVC) It is below average total cost and marginal cost It is between the ATC and AVC curves It is between price and AVC curves
Q: The marginal-cost (MC) curve cuts through the average-total-cost (ATC) curve and the…
A: Answer to the question is as follows:
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A: Average total cost (ATC) is calculated by dividing total cost by the total quantity produced.…
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A: The MC is related to AVC and ATC. These costs will fall as long as the marginal cost is less than…
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Q: Output Total Fixed Variable Marginal Average Average Cost costs 30 1 2 cost cost cost fixed cost 10…
A: TC=FC+VCFC=TC-VCVC=TC-FCMC=TCn-TCn-1AC= TCOutputAFC=TFCOutput
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A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…
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A: Average total cost is referred to as the sum total of all production costs divided by the total…
Q: E AFC Q Quantity Refer to the above diagram. At output level Qtotal fixed cost is:
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A: Average total cost = Average fixed cost + Average variable costAverage total cost = Total cost /…
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A: We use the following formulas to fill the above table: 1) Total Cost = Total Fixed Cost + Total…
Q: 3. As marginal cost rises, average variable cost necessarily rises. True False
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A: The average variable cost is the total variable cost per unit of output. The total variable cost is…
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A: The given table can be completed by using the following formulas.
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A: The marginal cost curve refers to the curve that shows additional cost of production when the firm…
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A: Usually in the easy language we can call Average fixed cost as the cost which is gradually required…
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A: Answer: (1). Introduction: Marginal cost cuts both AC and AVC at their minimum points. The minimum…
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A: Total cost is the total expenditure dome by the producer in the production process. It includes both…
Q: total revenue (TR) and total variable cost
A:
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Q: B. Complete the table below using the given data. Average Variable Cost (RM) Total Average Cost (RM)…
A: Total fixed cost refers to the cost of production that does not change despite the level of output…
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A: The followings are the formula to calculate the AVC, AC, and MC: Average Variable Cost (AVC) =…
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Q: 3. As marginal cost rises, average variable cost necessarily rises. * True False
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A: As per honor code, we’ll answer only one question at a time , we have answered the first question…
Q: curve II is the
A: In this figure there are three curves they are Total cost, Total fixed cost and Total variable cost.
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A: Fixed cost and variable cost together make up for total cost
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A: Answer to the question is as follows:
Q: For graphing paper #1 Y axis = total fixed cost (TFC), total variable cost (TVC), and total…
A: Graphical analysis of cost of production is very important as it enables us to gain important…
Q: 2. The Marginal Cost curve will a. cut ATC at the minimum of ATC but cut AVC at a point to the…
A: Marginal Cost(MC) curve is the change in the total cost(TC) due to one unit change in the output(Q).…
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A: Average Variable Cost (AVC) = Total Variable Cost (TVC) / Quantity (Q) Average Total Cost (ATC) =…
Q: he table below displays cost information for the production of volleyballs. Fill in the missing…
A: Given: Quantity (Q) Fixed Cost (FC) Variable Cost (VC) Total Cost (TC) Average Variable Cost…
Q: Use the following information to determine the total fixed costs, total variable costs, average…
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Q: Three college students are considering operating a tutoring business in economics. This business…
A: Note : There are multiple sub parts in this question. Hence, only the first three sub parts shall be…
Q: Three college students are considering operating a tutoring business in economics. This business…
A: A) $9,000 (facility rent + insurance) B) $0.50 per hour (materials & supplies)
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Q: State whether the following describes MC (marginal cost), ATC (average total cost), AVC (average…
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Q: Please see the attached two pictures, one for the graph, and the other for the questions.
A: As shown in the graph, 1) Total cost per unit (ATC) is at the minimum where it intersects the…
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- The following table shows data for quantity (Q), variable cost (VC), and fixed cost (FC) for a ski company. a) Fill the table for total cost (TC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). Make sure to show your work for at least one line. Q VC FC TC ATC AVC MC 30 1 10 30 25 30 3 45 30 4 70 30 100 30 6 135 30 b) Now suppose the firm decides to produce a quantity of 5 units (Q=5), and it sells for a price of $25 each. Answer the following: 1. Calculate the company's profits or losses 2. How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? 3. At the given quantity and price, is the marginal unit produced adding or subtracting to profits? Should the fırm produce at this level of output?Figure 12-4: Price and cost $40.50 36.00 30.00 22.00 20.00 MC ATC AVC 0 130 180 240 66. Refer to Figure 12-4. What is the amount of its total fixed cost? 1. A) $1,080 2. B) $1,440 3. C) $2,520 4. D) It cannot be determined. MR QuantityWebby Inc. is a web development company. Webby's monthly production function for developing websites is given in the table below. Webby pays $3,000 a month in rent for office space and equipment. It pays each programmer $2,000 a month. There are no other production costs. Fill in the table of production costs. Instructions: Round your answers to the nearest dollar. Programmers Websites 0 1 2 3 4 5 6 0 2 6 12 18 22 24 Variable Cost 2,500 1,167 750 Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost
- Macmillan Learning Slider owns a hamburger restaurant. Slider's minimum average variable cost is $10 at a quantity of 100 hamburgers, and his minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to answer the questions. What is Slider's AVC when he sells 200 hamburgers? Slider's AVC: $ At a quantity of 250 hamburgers, the average total cost curve isGiven the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) Calculate Total Variable cost (TVC) and (2) Draw Total Variable cost (TVC) curve. Quantity (Q) Total fixed cost (TFC) Total Variable cost (TVC) Total Cost (TC) 200 200 1 375 2 500 3 700 4 1000 5 1400 6 1900 7 2500The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Vintage Model Car Production Costs Total Fixed Cost Total Variable Cost (dollars) Total Cost (dollars) $2,000 (dollars) $2,000 Marginal Cost (dollars) Output $0 1 2,000 600 2,600 2,000 1,100 3,100 2,000 1,900 3,900 4 2,000 2,900 4,900 5. 2,000 4,150 6,150 b. What is the total cost of producing 4 vintage model cars? 2. c. What is the marginal cost of producing the 4th vintage model car? 2.
- Slider owns a hamburger restaurant. Slider's minimum average variable cost is $10 at a quantity of 100 hamburgers, and his minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to answer the questions. What is Slider's AVC when he sells 200 hamburgers? Slider's AVC: $ At a quantity of 250 hamburgers, the average total cost curve is increasing. below average variable cost. not able to be calculated from the information given. Or, none of the other answers are correct. decreasing.a. Calculate marginal cost using the formula given in the chapter: ATotal cost/AQuantity. Quantity Variable cost ($) Total cost ($) Marginal cost ($) 0 0 100 1 60 160 2 110 210 100 3 180 280 100 4 270 370 100 5 400 500 100 b. Calculate AVariable cost/AQuantity. Quantity Variable cost ($) AVariable cost Total cost ($) ($)/ AQuantity 0 0 100 1 60 160 100 2 110 210 100 3 180 280 100 4 270 370 100 5 400 500 100The pizzeria's fixed cost is $ Complete the third column of the following table by calculating the marginal cost per dozen pizzas using the information on total cost. Then complete the final column by calculating the marginal cost per dozen pizzas using the information on variable cost. BILING Quantity (Dozens of pizzas) 1 2 3 4 5 6 O True Total Cost O False (Dollars) 300 350 390 420 450 490 540 Marginal Cost Using Total Cost (Dollars) O Search Variable Cost (Dollars) True or False: It doesn't matter whether you compute marginal cost using total cost or variable cost. 0 50 90 120 150 190 240 Marginal Cost Using Variable Cost (Dollars) P CO
- Moonbucks has the following cost schedules: Quantity (bottle) Variable Cost (RM) Total Cost (RM) 0 0 100 1 90 190 2 170 270 3 240 340 4 300 400 5 370 470 6 450 550 7 540 640 8 650 750 9 780 880 10 930 1030 Calculate average variable cost, average total cost, and marginal cost for each quantity.Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company’s total cost of production at various production quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 120 — — 1 200 2 240 3 285 4 340 5 425 6 540Macmillan Learning a. In the accompanying diagram, place the points labeled Minimum AVC and Minimum ATC in their correct places. Marginal cost, average cost ($ per unit) True False Minimum AVC Minimum ATC F MC Quantity b. Average variable cost reaches its minimum point at a lower level of output than average total cost.