5. Provide the formula/calculation for the following costs: Average Total Cost, Average Fixed Cost, Average Variable Cost, Marginal Cost.

Graph the Average Total Costs, Average Variable Costs, and Marginal Costs on the same graph.

4. Suppose a short-run total cost function is given by C= 600 + 40Q^0.3 + 5 Q^2: (a) Find out the fixxed cost, variable cost, marginal cost, average variable cost and average total cost.

Please make sure to answer part C

#12 ch. 13 Can you explain what the correct one is and why? Can you also explain why the other ones are incorrect?

Demand for face masks at a small newsstand outside an airport is less elastic than demand inside the airport if _______. Select one: a. people prefer not to wear face masks. b. specific brands of face mask don't work as well. c. there are fewer substitutes at the stores inside the airport d. face masks are required to enter the airport.

10.Which of the following is an example of a fixed cost? A. cost of employees who work overtime B. cost of machinery  C. cost of flour at a bakery D. cost of employees who work standard hours

Production Total Product Total Fixed Cost Total variable cost Total Cost Average fixed cost Average variable cost Average Total Cost Marginal Cost 0   0           1   25           2   45           3   60           4   70           5   85           6   105           7   135           8   180           9   240           10   315                             Assume that fixed costs are $50, labor is the only variable input and its costs are reflected completely in the costs above. Complete the table Graph AFC, AVC, ATC, and MC Explain how increasing returns and decreasing returns are depicted in your graph If the labor input increased by $10 at every unit of production, what would be the effect on your graphs?

Calculate total costs at 4 units of output.  Do not put a dollar sign in your answer.  (The 6 columns are Quantity, Total Fixed Cost, Total Variable Cost, Total Cost, Average Total Cost, and Marginal Cost.  The Quantity and Total Variable Cost columns have been filled in along with the first row for Total Fixed Cost.  Average Total Costs and Marginal Costs are not calculated at a quantity of 0.) Quantity Total Fixed Cost Total Variable Cost Total Cost Average Total Cost Marginal Cost 0 15 0   XXXXX XXXXX 1   25       2   40       3   50       4   55       5   65       Calculate average total costs at 2 units of output.   Calculate average total cost at 5 units of output.   Calculate marginal cost at 4 units of output (moving from 3 units to 4 units).   Can you tell if this is the short run or long run?    Can you tell at which level of output profits will be maximized?

15 3. Jane's Juice Bar has the following cost schedules: Quantity 0 vats of juice $0 1 10 12 25 3 45 4 70 100 135 10 1 12 13 14 15 Variable cost Total cost $30 40 55 75 100 130 165 Calculate average variable cost, average total cost, and marginal cost for each quantity. Put these numbers in the table below. Quantity Average variable cost Average total cost Marginal cost a. b. Graph all three curves (average variable cost, average total cost and marginal cost) using Excel or a piece of grid paper. Attach the graph to this assignment. What is the relationship between the marginal-cost curve and the average total cost curve? Between the marginal cost curve and the average variable cost curve? Explain