A large architectural firm has just landed a contract to build a hospital. Nine architects currently work 40 hours per week in this firm, and all are available to work full-time on this project. The managers estimate that they need 400 architect-hours per week for 20 weeks to complete this project. Architects earn $500 per 40-hour week. Suppose that there is a fixed cost of hiring an architect of $2,000. (This cost reflects the advertising costs, interviewing costs, and so forth.) The firm's current architects are willing to work overtime to complete this project if they receive 1.5 times their usual wage rate for any hours in excess of 40 hours per week. In this situation, the total overtime wages the managers would pay for the project will be $ 18,000 Alternatively, the firm can handle this project by hiring new workers (for 20 weeks only) and having all architects work 40 hours per week. The number of new architects the firm would need to hire is 1. Comparing the costs suggests that the managers should hire new architects for their firm

For the given cost function C(x)=250√x+ x^2/3375 -finda) The cost at the production level 1100 (ANSWERED, 8650.079) b) The average cost at the production level 1100 (ANSWERED, 7.86) c) The marginal cost at the production level 1100 (ANSWERED, 4.42) Since I have the answers for the three subparts above, how would I answer the two subparts: d) The production level that will minimize the average cost.   e) The minimal average cost.

A bag factory produces 30 units of output. Its average fixed cost (AFC) = $32, average total cost (ATC) = $45, and marginal cost (MC) = $25. The shoe factory’s total variable cost is

Tori is comparing two job offers at engineering and construction firms. One is in Atlanta at a starting salary of $40,000, and the other in Minneapolis at a starting salary of $43,000. Tori looks up the cost-of-living index (COLI) for each city and finds the following information: Atlanta’s COLI is 95.6 (costs are 95.6% of the national average). Minneapolis’s COLI is 111 (costs are 111% of the national average). Are the two salary offers comparable?

In the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay) from her $5,000-per-month job in order to operate a kiosk that sold fresh drinking water. During the month she operated this venture, the entrepreneur paid the government $2,500 in kiosk rent and purchased water from a local wholesaler at a price of $1.34 per gallon. Write an equation that summarizes the cost function for her operation, as well as equations that summarize the marginal, average variable, average fixed, and average total costs of selling fresh drinking water at the kiosk. If consumers were willing to pay $2.25 to purchase each gallon of fresh drinking water, how many units did she have to sell in order to turn a profit? Explain carefully

Consider the following cost function (C): C= 0.25q3 - 4q? + 75q + F. The equation for average cost (AC) is: AC = |. (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) The equation for variable cost (VC) is: Vc=. (Properly format your expression using the tools in the palette.) The equation for marginal cost (MC) is: MC =. (Properly format your expression using the tools in the palette.)

Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100

A large architectural firm has just landed a contract to build a hospital. Seven architects currently work 40 hours per week in this​ firm, and all are available to work​ full-time on this project. The managers estimate that they need 400 ​architect-hours per week for 20 weeks to complete this project. Architects earn ​$500 per 40​-hour week. Suppose that there is a fixed cost of hiring an architect of ​$2,000. ​(This cost reflects the advertising​ costs, interviewing​ costs, and so​ forth.) Part 2 The​ firm's current architects are willing to work overtime to complete this project if they receive 1.5 times their usual wage rate for any hours in excess of 40 hours per week.   In this​ situation, the total overtime wages the managers would pay for the project will be ​$enter your response here.

If the total fixed costs of manufacturing 100 fans is $7500. Calculate the average fixed costs.

If average variable cost is $20 and total fixed cost is $500 at 10 units of output, then average total cost at this output level is: