ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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I think the correct answer is $1 because that is the only fixed cost, and they will not be charged any variable costs. Is this correct?
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- Find average variable cost given:- Total variable cost is $490 and the output is 30 unitsarrow_forwardThere is economies of scale if the average cost of production is lower for bigger scale of operations compared to the average cost of production for smaller scale of operations True Falsearrow_forwardTC = 200 + 60Q + 2Q² What is the average variable cost when 4 units are produced? Enter as a value. 248arrow_forward
- Could you show the profit and loss on the graph. Furthermore, the figures for cost you posted were incorrect as they are not dropdown options.arrow_forwardCalculate average variable Cost if total variable cost is $1000 and output is 20arrow_forwardTC = 188 +38Q +4Q² What is the average fixed cost when 18 units are produced? Enter as a value. ROUND TO TWO DECIMAL PLACES.arrow_forward
- Q(P) = 300/N – P, where N = number of firms TC(Q) = 50 + Q2, what are the firms fixed and variable costs?arrow_forwardIf 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:arrow_forwardFind average fixed cost if TFC is 250 and Output is 15 unitsarrow_forward
- A company can produce 25 items for a total cost of $ 2250 with a fixed cost of $ 1000 and a selling price of $ 75. Find the cost, revenue, and profit function. Find the break even point. Sketch on the same graph the revenue and cost function and clearly label where the break even point is. When does the company have profit? Explain.arrow_forwardWhat will be the value of average fixed cost if total fixed cost is $350 and the output is 50arrow_forwardImagine a smartphone company has the following costs when they produce 200 phones: $50 in average fixed cost and $140 in average total cost. What would be the total variable cost for this company when they produce 200 phones? Type your numeric answer and submitarrow_forward
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