23 A West Coast refinery used the following stocks of oil in a production run of gasoline.  The respective costs of these stocks are shown in the adjacent column.         Barrels Unit cost Light Arabian crude oil 9,880 $79 High-sulfur Alaskan oil 49,810 55 Methyl alcohol from corn 1,420 85 Texas medium weight crude 19,050 65     The average cost per barrel is, a $62.08     b $60.87     c $59.67     d $58.50

Q: Variable Output -42 1 2 3 TVC TC AFC 400 700 O $200 O $250 1000 4 Use the above table and assume…

A: We have given the cost schedule in which fixed cost is $1000

Q: Your uncle is thinking about opening a wine bar. He estimates that it would cost $400000 per year to…

A: Total cost = 400000 $ Accounting profit  = TR – TC = 600000  - 400000 = 200000 $ Economic profit =…

Q: So that a firm break even  fixed cost $30,000 price=$8.90 variable cost per unit (avc)=7.40

A: Break-even point is where the total cost is equal to total revenue. It is the point where the firm…

Q: A manufacturer of cassette tapes expects a fixed cost of $55,000. It plans to work on the margin of…

A: Cost function; C = F + V × Q)                           =$55,000 + ($0.4 x Q)…

Q: 6. Ball Bearings Inc. faces costs of production as follows: Quantity 10 1 2 Total Fixed Costs $100…

A: total cost is defined as the sum of all the expenses incurred by the producer to produce goods.…

Q: 1. Given the following information: Total Product (TP) Price 0 $6000 1 6000 2 6000 3 6000 4 6000 5…

A: Disclaimer :- since you posted multipart question we are solving first 3 subparts as per guidelines…

Q: A) ABC company produces 100 pendants per day. The total fixed cost for the plant is $500 and the…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Harvey develops gaming apps from home instead of working as an engineer and earning $50,000 a year.…

A: Accounting profit is the profit arrived at by deducting total cost(explicit cost) from total…

Q: Calculate explicit cost given:- Accounting profit = $6600 Total revenue= $10,000

A: The data presented in the question above is:- Accounting profit = $6600 Total revenue= $10,000 Using…

Q: 1. Given the following information: Total Product (TP) 0 1 2 3 4 5 6 Price Fixed Cost (TFC) $6000…

A:

Q: ABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total…

A: TC= Total cost FC= fixed cost VC= variable cost ATC= average total cost AFC= Average fixed cost…

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC= 0.20- 1200 - 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Refer to the information provided in Table below to answer the question that follow. Number of…

A: Total cost is the total expenditure incurred by the producer in the production process. Marginal…

Q: Total Revenues ($) 250 000 Total Costs (S) - wages and salaries |- risk-free return of 2% on owner's…

A: Implicit cost is the self own cost , which is not hired by owner from outside and Explicit cost is…

Q: A firm is asked to find the company's Break-Even and Shut-Down points. Fixed Costs remains at…

A: Q TC VC FC ATC AVC AFC MC 0 1000 0 1000 0 0 0 0 110 3100 2100 1000 28.18 19.09 9.09 19.09 200…

Q: Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per…

A: The accounting profit is the difference between the revenue and the cost. The economic profit would…

Q: 13 Aabir, a milk farmer, earns $300k per month in revenue. His monthly costs include Administrative…

A: In economics, the difference between accounting profit and economic profit if accounting profit does…

Q: 8. A dealer makes a net profit of 40% based on when he sells a computer for RM 1350. If the…

A: Breakeven price "it is amount of money or change in value for which  an asset must be sold to cover…

Q: A manufacturer of cassette tapes expects a fixed cost of $55,000. It plans to work on margin of…

A: (i) The revenue function of a firm shows the total amount received by the firm from the sale of its…

Q: The same firm produces 500 lawnmowers per week. It hires 20 full-time workers (40 hours/week) at an…

A: Given that, Units produced = 500 Here , hiring workers and raw materials are variable cost . Raw…

Q: The Ylaya Textile Mill produces denim. The fixed monthly cost is P21,000, and the 2. variable cost…

A: Given information, Monthly fixed cost: P21,000 Variable cost per yard: P0.45 Sales price per yard:…

Q: Hactory produces 20 units of output. Its average faed cost (AFC) - $25, everage total cost (ATC) -…

A: Output: Q=20 AFC=$25 ATC=$35 MC=$15   Variable cost is that cost which varies with output…

Q: #6 Multiple choice For each size plant a manufacturer could build, there is a different A. long run…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Hi! help me with this please. Thank you so much! TRUE OR FALSE. EXPLAIN. A negative sunk costs…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: 3. The Caribbean airline is making reasonable profit and wants to expand its operation to include a…

A: Answer a) Variable cost refers to the cost of production that changes as output increases or…

Q: From the given table, calculate TVC andMVC. Output (Units) 1 3 4 Marginal Cost (E) 40 30 35 39

A:

Q: Selling Price (5) Break-even Volume (x) Total Variable Cost at Break- Re Variable Cost (VC) even…

A: *Answer:    Fixed cost (FC) per month Variable Cost (VC) per unit Selling Price (S) per unit…

Q: Q TC FC TVC AVC ATC MC 100 -- 1 130 2 75 3 165 4 50 250 330 7 90 his firm's fixed costs for 3 units…

A: Total cost = total fixed cost + total variable cost

Q: Calculate accounting profit if :- Total revenue = $3000 Explicit cost = $3000

A: The data presented in the question above is:- Total revenue = $3000   Explicit cost = $3000…

Q: the average rectly petitive firm. ATC AVC 250 Me Tools 225 200 MR1 MR2 175 150 MR3 125 100 75 50 25…

A: A perfectly competitive market has a large number of firms selling homogenous product at a price…

Q: Costs ($) 800 TVC 500 450 300 0 1 2 3 4 5 6 7 8 9 10 11 12 Units of output 1. Refer to the figure,…

A: Total cost has two components one is varaiable and another one is fixed.

Q: . The Great Outdoors Tent can be purchased from a wholesaler for $58 less discounts of 30% and 7%.…

A: Price: It refers to the cost of goods and services. The less the price of the goods and services the…

Q: Q VC AVC TC ATC MC $30 1 $40 $50 3 $80 4 $90 What are the fixed costs? If the firm can sell its…

A: To complete the table we need following formula Total cost = Fixed cost + Variable cost Average…

Q: The car industry consumes a large portion of the steel market. What kind of cost industry is it? A…

A: In a market, a firm can be increasing, decreasing or constant cost industry, according to change in…

Q: Kieron is currently working as an automobile detailer who earns $45,000/year. He currently has…

A: The cost of the next best alternative which is foregone is reffered to be as the opportunity cost…

Q: Suprose a liim hus revenue R=15-. 5q² und (Ost C= 93-13.5e²+50+ 40. Make a sketch of average…

A: The cost which changes with the change in the volume of output is called total variable cost. These…

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 020 + 1200 + 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: ume that the following data is for a profit-maximizing manufacturer: antity $ Total Cost 100 140 160…

A:

Q: Number of Cakes VC MC AVC FC TC ATC 50 1 30 2 50 25 4 155 Table 8.3 Table 8.3 presents the cost…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: eglt ots wn $10.000 nd imolick cots ae $72,000, economic profit is ting profit by E

A: An economic profit is the difference between the revenue a commercial entity has received from its…

Q: year to rent the location and buy the merchandise. In addition, he would have to quit his $63000 per…

A: A economic benefit or loss isthe distinction between the income got from the offer of a yield and…

Q: Thread Club produced 700 sweatshirts with a production cost $11.25 per sweatshirt. This month, they…

A: As per the question, it is given that Quantity of sweatshirts produced by Thread club = 700…

Q: A fruit stand owner rents a stall at the market for $255$⁢255. Each month, the owner spends…

A: The total production process of a firm is an amalgamation of various costs, the optimum quantity…

Q: 2. Suppose you are given the following cost data for a product. q (units) C (dollars) 4693 4831 5001…

A: The money spent to purchase the factor of production to produce the goods and services by the…

Q: a. Refer to Table calculate explicit costs for this firm? b. Refer to Table calculate implicit costs…

A: a. Explicit costs are resulted from the production process or these are direct costs of the…

Q: A. The table below shows the cost schedule of XYZ Company, producing face shields sold at P22 per…

A: We have given the cost schedule of XYZ company. The market price of face shields is 22.

Q: Zach took $400,000 out of the bank and used it to start his new cookie business. The bank account…

A: Answer; Option d is the correct answer,