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Consider the following cost information for a pizzeria:
Quantity
Total Cost
Variable Cost
0 dozen pizzas
$300
$0
1
350
50
2
390
90
3
420
120
4
450
150
5
490
190
6
540
240
a. What is the pizzeria’s fixed cost?
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- How does fixed cost affect marginal cost? Why is this relationship important?Compute the average total cost, average variable cost, and marginal cost of producing 50 and 72 haircuts. Draw the graph of line three curves between 60 and 72 haircuts.Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?
- Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?Are there fixed costs in the lung-run? Explain briefly.EGR 116 Project 2 Controlling Motor Speed Word References Mailings Review View Help Tell me what you want to do AaBbCcDdE AaBbCcL AaBbC AAB6CCI AaBbCc) A 1 Caption Emphasis Heading 1 1 Normal Strong Paragraph Styles Beaverduck Bus Company wants to compute the cost of adding a third daily bus between Eugene and Corvallis, Oregon. Comment on the following statement of Abby Abacus, the company's accountant: "If we add the third bus, our total cost would increase form $700 to $780. Therefore, the marginal cost of the third bus is $260 ($780 divided by 3)."
- F a) Draw the demand process cycle and label it fully. b) A door company has the following materials in inventory. Inspect the table below and answer the following questions Material Average (in Kilograms) Price Aluminum 3884 $3.0 Steel 5850 $1.4 Iron 200 $1 Work in Progress Average Price Fence 78 230 Final Products Average Price Door 300 300 Window 550 240 i. Calculate the number of turns. ii. Calculate the cost per day.The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the motorbikes.If you were a taxi driver, the daily revenue and cost are as the following: Revenue: $250 Variable cost (gas, your labor…): $190 Mortgage payment for car: $70 License Fee: $30 For profit maximization, will you operate your taxi business today? What is the minimum daily revenue to keep the operation in the short run? What is the minimum daily revenue to keep the operation in the long run? Please show calculation formula and/or equation.
- Consider the following cost information for a pizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $0I 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria's fixed cost?b. Construct a table in which you calculatethe marginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using the inforpmation on variable cost. What is the relationshipbetween these sets of numbers? Explain.What is the summary of the video "See the true cost of your cheap chicken"Healthy Harry’s Juice Bar has the following cost schedules:Q VARIABLE COST TOTAL COST0 0 301 10 402 25 553 45 754 70 1005 100 1306 135 165Calculate average variable cost, average total cost and marginal cost for each quantity. Graph all three curves. Also explain the relationship between:i) Marginal cost curve and the average total cost curveii) Marginal cost curve and the average variable-cost curve
