After one month of operation, UCC Cafe decided to shorten its business hours and close on weekends. What costs, fixed or variable, should UCC Cafe have considered when it made the decision? Explain in detail.

Q: Joe quits his computer programming​ job, where he was earning a salary of$70,000per​ year, to start…

A: Accounting cost is the cost that is seen as money out from the bank account and recorded in the…

Q: Total cost divided by quantity of outout is Select one: a average variable cost b. average total…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: How do fixed costs change over the long-term? Do costs get re-categorized into a variable cost when…

A: Fixed costs are the costs that do not change with the change in quantity while variable costs are…

Q: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in Table 7.16 for…

A: Cost is the expenditure incurred by firms on the production of goods and services.

Q: Joe quits his computer programming job, where,he was earning a salary of $50,000 per year, to start…

A: Accounting cost also known as money cost or explicit cost can be defined as the costs which the firm…

Q: A farmer takes a farm on rent and carries on farming with the help of family members. Identify…

A: # The costs which can't me measured for the accounting purpose is called implicit costs and on the…

Q: computation and give illustration through diagram • Behavior of Variable and Fixed Cost • Marginal…

A: Cost is the expense incurred to any business to produce any good or services. Th cost can be broadly…

Q: Alejandro is one of the leading ceramic vase producers in the country. His total costs (TC) amount…

A: Average total cost = Total cost/ Output.

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: The cost for producing 0 units would be the fixed cost. Cost incurred irrespective of number of…

Q: What is the difference between economic costs and accounting costs? Explain it in your own words and…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: What are the effects of cost reduction ?

A: Answer - Cost of Reduction - Cost of reduction is method to increase productivity and reduce the…

Q: How General Motors improve or operate their economies of scale?

A: This significant car maker has encountered interruptions to its tasks as interest in autos has…

Q: Your cousin Vinnie owns a painting company withfixed costs of $200 and the following schedule…

A: Cost is the expenditure incurred by firms on the production of goods and services. Production costs…

Q: Quèstion 33 The increase in total cost that results from producing one additional unit of output is…

A: Average Fixed Cost is the total fixed cost per unit of output.  Average Variable Cost is the total…

Q: A local baker owns a small shop in a very busy downtown section that the baker uses to bake loaves…

A: In economics, operating cost is the expenditure incurred on daily basis as it is the ongoing cost of…

Q: Fixed costs decrease per unit of output as volume decreases. True O False

A: Fixed Cost is that cost which are not changed as output changed, that means if output increases or…

Q: What are examples of fixed and variable costs in a fast food restaurant?

A: Total fixed cost (TFC)is defined as those cost which a firm must pay irrespective of its level of…

Q: Write a short note on Increasing economies of scale – meaning and effect on costs

A: The production function depicts the technical association between the quantities of output (Q) that…

Q: A special shoe manufacturer ABC Co. has costs of production as follows : Quantity 0 1 2 3 4 5 6…

A: a) AFC=TFC/Q AVC=TVC/Q ATC=TC/Q MC=TCn-TC(n-1)

Q: Research an instance of an actual firm that has been engaged in cost-cutting measures. What actions…

A: We are considering an example of Dell EMC. Cost-cutting refers to measures executed by an…

Q: Finley's orchard incurs $90,000 per year in fixed costs. Last year, their total production was 100…

A: Fixed cost is the cost that remains same at all levels of output. Average Fixed cost is the Fixed…

Q: Use the following scenario to answer the questions that follow. Steve owns a bike store. His total…

A: (A) Variable cost refers to the cost that does change with change in level of output.

Q: A firm producing 1000 units at a total cost of $5000, if it were to increase production to 1001…

A: "Input refers to the raw materials, factors of production or resources used in the process of…

Q: What is a cost reduction?

A: Cost reduction is a procedure which is used by companies to reduce cost and increase their profits.…

Q: After one month of operation, OO Café determined to shorten its business hours and close on…

A: The cost of production is the summation of all the costs incurred while producing a commodity in the…

Q: Jacob, a chef who lives in the community, is really excited to start his own cookbook. He found a…

A: STEP 1: The break point is the point where a firm neither earns profit nor incur loss. At this point…

Q: Tony's Pizza Company has some missing cost data and needs your help to provide the missing data in…

A: ​In economics, cost refers to the different types of expense that is incurred by the businessmen in…

Q: How to calculate the Average cost of producing 1, 2,...15

A: average cost = C/Q = 1000 + 100*Q for every Q we first calculate the C by using the formula C=1000+…

Q: Need answers ASAP... Which of these costs is considered as the most important cost because if it is…

A: The firm produces goods and services and incurs cost including fixed cost and the variable cost.The…

Q: Output TFC TVC TC MC ATC A 25 25 ------ ---- -- В 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E…

A: Answer to the question is as follows :

Q: After one month of operation, OU Café determined to shorten its business hours and close on…

A: There are two types of costs incurred by a business:- 1) Fixed costs 2) Variable costs 1) Fixed…

Q: Calculate TC, AC, MC, AVC, AFC, and graphically calculated and given costs. Quantity Fixed Costs S…

A: Total cost is the cost expenditure incurred on the production of the goods or services by the firm.…

Q: QUESTION 3 Big Boss Company produces 16 units of output at a total cost of $2,142. If the fixed…

A: Answer : Here first find total variable cost Total variable cost = Total cost - Total fixed cost =…

Q: 1. List the explicit costs and then list the implicit costs . Be sure to properly LABEL them so that…

A: The key motive that drives the firms to operate in a market is profit. Profit is the difference…

Q: How Toyota Motors operate their economies of scale?

A: In economics, the costs of production can be studied under two time periods- the short run and the…

Q: Imagine a smartphone company has the following costs when they produce 200 phones: $50 in average…

A: When some product is manufactured, cost  takes place and process of business gets accelerated.…

Q: a. A producer borrows money and starts a business. He himself looks after the business. Identify…

A: To understand the price theory properly the initial concept which is to be very clear is cost. Cost…

Q: 2. Find the volumes over which each site for making a product is the lowest cost. Site Fixed…

A: Given: Site Fixed Variable 1 20000 18 2 10000 23 3 32000 166 4 35000 20

Q: Identify a variable cost

A: Variable cost is a cost that changes according to the quantity. It is calculated by subtracting…

Q: a. A producer borrows money and starts a business. He himself looks after the business. Identify…

A:

Q: A company is planning to manufacture wheelchairs that are light, fast, and beautiful. Fixed monthly…

A: In economics, a CF {"cost function"} is described as a function of an output quantity and prices of…

Q: How can I construct a cost curve for ATC, AVC, MC

A: Total Cost:The sum of explicit costs and implicit costs constitutes the total cost of the production…