A manufacturer of scrapbook kits has a fixed cost of $30,000. This manufacturer expects to sell 6,000 scrapbooks for $17.50. This price will give the manufacturer a 20 percent markup on price. Calculate the  variable costs

Q: A restaurant selling hamburgers has fixed costs of $11,975 and sells the burgers for $6.50 each. The…

A: The point that depicts revenues of the firm being earned are equal to their expenses being incurred…

Q: A profit - maximizing firm in a competitive market is currently producing 100 units of output. It…

A: In case of perfect competition there are large number of buyers and sellers. The firms sell…

Q: A firm's total cost (TC) equals the sum of its fixed cost plus its Group of answer choices marginal…

A: Sunk cost is the cost which is incurred already and this cost can not be recovered.

Q: Find price, quantity, and profit. Fixed cost: 300 MR = 64-4q mc= 4q p=64-2q

A: Given information: Fixed cost = 300 MR = 64 - 4q MC = 4q p = 64 - 2q -------------------------

Q: Find economic profit if total revenue is $4000 , explicit cost is $700 and implicit cost is $500

A: The data presented in the question above is:- Total revenue = $4000 Explicit cost = $700 Implicit…

Q: When output increases from 10 to 11, total cost increases from $60 to $65. Fill in the blank. Round…

A: The additional cost incurred in the creation of extra units of goods or services, most frequently…

Q: The market for smart thermostats has grown increasingly competitive. Producers of smart thermostats…

A: As we know that in the long run equilibrium the form earns only zero profit That means normal profit…

Q: Which of the following is an example of a variable cost for a bookstore? a) Rent for the store…

A: With regards to a bookshop's functional costs, understanding the distinction between fixed costs and…

Q: Given cost and price​ (demand) functions C(q)=110q+45,000 and p(q)=−1.8q+900​, What price should be…

A: Given; Cost function; C(q)=110q+45000Demand function; p(q)=900-1.8q At profit maximization:-…

Q: Economics of customer acquisition for fedex: 140 accounts in advertising industry use 2,285 courier…

A: CAC is  sum of all the costs related to marketing, sales, advertising, and any other expenses…

Q: A manufacturing firm faces the cost of production as follows : Quantity Total Fixed Costs Total…

A: Formulas used in the question are as follows:   Average Fixed Cost = Total Fixed Cost/ Output…

Q: If the firm is maximizing its profits when the price is $12, its total cost is: a) $1200 b) $700…

A: A competitive firm maximizes profit by producing at P=MC

Q: Implicit cost is $200, explicit cost is $260 and total revenue is $800  Calculate the Economic…

A: The information given to us:- Implicit cost of firm = $200 million Explicit cost of firm = $260…

Q: Suppose ZYZ company has the following information producing a product branded SPEEDY. The average…

A: According to the idea of the "experience curve," there is a stable correlation between a company's…

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: A recliner corporation wants to determine how many recliners it must sell in order to earn a profit…

A: Let sales be X Required sales = fixed cost + variable cost X + Profit = Price x

Q: Fixed costs are best defined as costs that do not vary with output. the amount that one more unit of…

A: Fixed Cost: It is the cost that is incurred for purchasing fixed factors of production. It is…

Q: The manufacturer of smart printers is trying to decide what price to set for its product. The…

A: To maximize profits, the firm will be setting the marginal cost equal to marginal revenue.

Q: A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total…

A: In business, the average total cost, or ATC, is the sum of all product costs divided by the volume…

Q: Calculate the loss incurred by the firm if the total revenue is $630 and the total cost are $900

A: The information given to us is as follows:- Total revenue = $630  Total cost = $900 Clearly TC >…

Q: Two tomato processing plants are located along a line 100 miles long. Plant 1 is at mile 30 and…

A: Given information 2 tomato processing plants located along a line 100 mile. Plant 1 is at mile 30…

Q: Which of the following would be considered a fixed cost of Marty Byrde’s Boat Rides & Rental? Group…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is that cost that does not depends…

Q: Refer to the below figure. What is the firm's fixed cost when the market price is $3.25? Price ($)…

A: Total cost is the sum of fixed cost and variable cost.=> TC = FC + VC Fixed cost is the cost that…

Q: A company's marginal cost function is MC(x) (given below), where x is the number of units. Find the…

A: In Economics, marginal cost is the change in the total cost that arises when the quantity produced…

Q: Suppose the total cost equation of  firm is  50 + 56q^2 . calculate the MC

A: The marginal cost can be determined by using the below formula:

Q: Marginal cost is the change in the price of a good for a one unit change in output. fixed cost…

A: Total cost is the sum of fixed cost and variable cost.

Q: The gap that exists in a graph between total costs and fixed costs represents the variable costs of…

A: Total cost is the sum of variable and fixed costs. TC = TVC + TFC

Q: Economic cost is equal to the sum of the explicit and the implicit costs True False

A: The economics as a study is associated with the use of various resources which are available with…

Q: In the perfectly competitive car production industry, General Motors produces 40,000 sedan cars for…

A: Given, In the perfectly competitive car production industry Total cars produces (Q) = 40,000 sedan…

Q: A manufacturer of electric switches in a competitive industry has a fixed monthly cost of $50,000,…

A: Fixed monthly cost = $50000Monthly variable cost = $100000MC= $5Monthly production = 100000 units

Q: Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: A local shoe has total costs of production given by the equation TC-125+10q+5q². The market demand…

A: Costs refers to the sum of money incurred in the production of a good or service. It is the sum of…

Q: If the accounting profit in an economy is $42 billion and the implicit cost is $29 billion find the…

A:

Q: You are the owner of a small company that makes laptops at the price of $550. Your variable cost of…

A: The number of laptops can be found by equating price and the cost of producing laptops. We will find…