TFC = Total Fixed Cost Q = Quantity %3D P = Product Price andıno MC = Marginal Cost TVC = Total Variable Cost %3D Refer to the information. Marginal cost is: Multiple Choice Change in TV[A Change in Q Change in TV Q P-Q A Change in Q Change in TFA Change in Q
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- What is the marginal cost associated with producing three units of the contral variable, O (identify point E in the tablej? 36 Total Total Costs Benefits Benefit Net Marginal Marginal Narginal Net Bеnefit Control variable Benefits Cost MB(0) MC (Q) MND (0) Sepped B(Q) C(0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 4 1,000 2,000 600 400 200 3,500 1,500 2,000 500 500 600 1,800 1,400 3,900 2,100 D -200 4,200 4,400 2,800 300 700 -400 200 100 800 800 -600 4,500 4,500 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 50 100 200 300F a) Draw the demand process cycle and label it fully. b) A door company has the following materials in inventory. Inspect the table below and answer the following questions Material Average (in Kilograms) Price Aluminum 3884 $3.0 Steel 5850 $1.4 Iron 200 $1 Work in Progress Average Price Fence 78 230 Final Products Average Price Door 300 300 Window 550 240 i. Calculate the number of turns. ii. Calculate the cost per day.GivenMonthly rent25,000Monthly Salary/employee10,000Market price of slippers520Total units sold20,000 Solve for the followingTotal RevenueTotal CostProfit/Loss (indicate if its a profit or loss)
- Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of Factories Q = 100 1 2 3 78°F Sunny 440 620 800 F2 Q = 200 F3 280 380 480 O Average Total Cost (Dollars per bike) Q = 300 Q = 400 240 240 320 F4 320 240 240 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ F5 Q = 500 480 Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph, plot the three SRATC curves for Ike's Bikes from the previous table. Specifically, use the…Choco Lovers Cost and Revenue Quantity of Gift Boxes TC ($) АTC (S) MC ($) 5 55.00 11.00 1.00 10 57.50 5.75 15 4.17 1.00 20 72.50 2.00 25 92.50 3.70 4.00 30 122.50 4.08 6.00 Assume the profit-maximizing price is $4 per gift box, and then answer the following questions: a. Profit-maximizing quantity = gift boxes b. Total revenue = $ c. Profit = $ d. Profit per unit = $ per gift boxSince most consumers spend very little on salt, a small increase in the price of salt will:A. reduce quantity demanded by a large amountB. not reduce quantity demanded by very muchC. not change quantity demandedD. increase quantity demanded by a small amount 2.Fred is considering opening a ski shop in Colorado. Assume Fred will incur the following costs: building rent= $100000/year, inventory= $250000/ year, energy=$50000/year, and labor (one clerk) = $10000/year. In addition, Fred’s current income as a computer programmer is $40000 per year. Assuming Fred would earn $ 460000 in revenues, he could expect to earn:A. an accounting profit of $10000 per yearB. an accounting profit of $ 60000 per yearC. an economic profit of $ 10000 per yearD. an economic profit of $50000 per year 3.Suppose a firm employs only capital and labour (K and L) and its production function is Q = 2KL. If the quantities of labour and capital are fixed at K =10 and L = 25, then:A. total output cannot exceed 125B.…
- Describe the various cost components that affect the retailgasoline price?answer the attaced questionTimes New Rom 12 A A Aa A == -=- E E T AaBbCcDc AaBbC AaBbCcC AaB AaBbCcD Аав O Find Replace BIU ab x, x A A- 目三==|m。 T Normal Heading 1 Heading 2 Title Subtitle Select Font Paragraph Styles Editing 1. 2. 4. 9. True or False 1.→Profit can-be calculated without including fixed costs. 2.→All costs can be categorized as either fixed or variable costs.T 3.→Total revenue accounts for all costs. 4.→One time-legal fees that move as services are rendered are considered variable costs. 5.→An-application fee and a fixed cost are basically the same. 6.→AVC+ AFC=TC. 7.→Short run costs are more associated with fixed costs rather than variable costs 8.→All average costs can be calculated by deriving the perunit costs 182 words MI DFocusBO e to search
- is generally determined by the consumer rather than by the producer. In other words, if a customer perceives that he receives more in benefits than what he has to pay for those benefits (or, he gets more in benefits than what he perceives it costs him to acquire those benefits), then he is probably going to be fairly happy with that product in relation to itsS cost.Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980What is the total cost associated with producing eight units of the control varlable, a (identify point B in the tablej? 34 Marginal Harginal Harginal Net Bеnefit Control Total Net Costs Benefits Benefit Total variable Benefits Cost Sepped B(Q) C(Q) MB(0) MC(0) MND (0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 1,000 1,500 400 500 2,000 2,000 1,800 1,400 4 600 200 3,500 500 3,900 2,100 D 600 -200 4,200 4,400 4,500 2,800 300 700 -400 800 200 800 -600 4,500 100 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 3,000 3,600 3,800 4,200
