A constant-cost industry is one where or will not affect resource prices and production costs. O inflation; interest rates O investment; capital O expansion; contraction O supply; demand
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- How does fixed cost affect marginal cost? Why is this relationship important?What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?COST PER UNIT LRATC OTX Y Z OUTPUT According to the diagram above, output OY represents the firm's: Select one: O a. market potential O b. break-even point O c. minimum physical product O d. technical optimum plant size
- A computer company produces affordable, easyto-use home computer systems and has fixed costs of$250. The marginal cost of producing computers is $700for the first computer, $250 for the second, $300 for thethird, $350 for the fourth, $400 for the fifth, $450 for thesixth, and $500 for the seventh.a. Create a table that shows the company’s output,total cost, marginal cost, average cost, variablecost, and average variable cost.b. At what price is the zero-profit point? At whatprice is the shutdown point?c. If the company sells the computers for $500, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.d. If the firm sells the computers for $300, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.A company produces two products. FC = Total Fixed costs = $580VC1= variable costs from product 1 = $920VC2= variable costs from product 2 = $805TR1= revenue from product 1 = $900TR2= revenues from product 2 = $900In the short run, what should the firm do? a.Produce product 1 but not 2 b.Produce neither c.Produce both d.Produce product 2 but not 1Do step by step. No excel pls
- Completed 58 out of 60 uestion 31 of 60 If output falls below equilibrium, marginal cost will be higher than the price. O True O False LEGOUnder which of the folowing axamples is t likaly that the accounting profit is positive and the economic profit is negative? OA Using a restaurant you purchased to sell Mexican food instead of Italian food. B. If you use a damond mine as a touriet attraction instead of using it for mining. C. Opening a bank branch near a university campus. OD. Such a scenario, where accounting cost is positive and economic proft is negative, is not possible.Manual tasks are now replaced by automation where technologies are used to produce and deliver goods and services with minimal human intervention. What is the effect of automation for a company? O a. Survival O b. Increase efficiency O c. Increase workload O d. Redundant task.
- 020-2021 Bah Marginal cost is given by 12 eu.54. Fixed cost is 56. What is the total cost? O a. 6e0.5Q Ob. 24e0.5Q+32 Oc. 6e0.5Q 50 O d. 24e0 5Q 56Question 14 What does scale of operation refer to, and what does it depend on? O a. It refers to the amount of fixed resources required, and it depends on market size O b. It refers to the number of years the fixed resources will last, and it depends on technology Oc. It refers to the total labor force needed, and it depends on the region of the country Od. It refers to the number of competitors in the market, and it depends on technologyWhich of the following are examples of indirect costs for a company that makes photograph frames and sells them to national retails chains? ii. Pay of assembly department's supervisor ii. Standard, off the shelf oil used for the cutting department iv. Pay of employees assembling frame O A. Picture frame moulding O B. i and ii only OC. ii and iii only OD. i, ii and iii only E. I, ii, iii and iv only
