A bag factory produces 40 units of output. Its average variable cost (AVC) = $23, average total cost (ATC) = $55, and marginal cost (MC) = $15. The shoe factory’s total fixed cost is ________.

Consider a small photography studio with 5 workers and 2 printers. The total cost of labor and capital is $3,200. In order to reduce total operating costs, the owner leases 2 additional printers and fires 3 workers. After these changes, the salary of each worker increases by $15, the cost of using each of the printers (both new and old) remains constant, and the total cost of labor and capital decreases to $2,900. What is the cost of using one printer?

Full explanations would be appreciated! 25) In a short-run production process, the marginal cost is rising and the average variable cost is falling as output is increased. Thus, A) marginal cost is below average fixed cost. C) average fixed cost is constant. B) marginal cost is below average variable cost. D) marginal cost is above average variable cost. 26) A firm employs 100 workers at a wage rate of $10 per hour, and 50 units of capital at a rate of $21 per hour. The marginal product of labor is 3, and the marginal product of capital is 5. The firm A) could reduce the cost of producing its current output level by employing more labor and less capital. B) could reduce the cost of producing its current output level by employing more capital and less labor. C) could increase its output at no extra cost by employing more capital and less labor. D) is producing its current output level at the minimum cost. E) Both B and D are true.

Suppose Nittany Bakery rents a building for $120 per day, and they can hire workers for $75 per day. The short run labor and output (quantity of scones) information is listed below. Fill in the columns for total cost and marginal cost. (Note: You may need to make columns for fixed cost (FC) and variable cost (VC) on a piece of scrap paper, which will make it easier to find total cost (TC).) Do not enter any dollar signs, and if necessary, round to two decimal places. Short Run Labor, Output, and Costs Labor (L) Output (Q) Total Cost (TC) Marginal Cost (MC) 00 -- 14 212 3 24 440 5 60 675 7 84

Consider a company that has fixed costs of $6,700 and a marginal cost of $26 per item.   What is the company's average cost function?   How many items must the company produce to have an average cost of $36.31 per item?

fixed cost is the same at each output level except when no output is produced. when a firm produces no output,there are no fix cost. true or false? explain

The Cooper Company has the following information on costs. Quantity Fixed Cost Variable Cost 3 200 10 4 200 20 5 200 30 Calculate the average variable cost of producing 5 units. Round your answer to two decimal places if necessary.

Can you please solve  question # 14

The following is a cost schedule for A & E Manufacturing Company Ltd for product X.   Quantity (Q) Fixed Cost Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0     100         1   30           2           25   3   60           4 100         18     Required: Calculate the missing costs and complete the schedule.  On one diagram, plot and label the Marginal Cost curve, the Average Fixed Cost curve, Average Variable Cost Curve and the Average Total Cost curve.                       Explain the relationship which exists between the Marginal Cost Curve and the Average Total Cost Curve.  What accounts for the ‘U’ shape of the Average Total Cost Curve?

Complete the cost schedule below for the Ozzie Ugg Boot Co.    Total product (Q) Total fixed cost  (TFC) Total variable cost   (TVC) Total Cost (TC) Marginal Cost (MC) Average fixed cost (AFC) Average variable cost   (AVC) Average total cost (ATC) 0 $50   $50                 C       1     $80                 D       2   B $95                 E       3 A   $105                 F       4     $110     I           G       5     $130                 H       6     $160       J   List the values that you obtained for the letters A to J in your answer (no more than 2 decimal places). What is the most efficient level for the company to produce its product? Why?