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A: Cost is the expenditure incurred by firms on the production of goods and services.
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A: When UCC cafe reduced business hours and weekends holiday. It considered variable cost.
Q: t Suppose that the monthly cost, in dollars, of producing x chairs is…
A: Total cost measures the overall cost of production incurred in the process to produce output.
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A: Variable costs will be costs that change as the quantity of the great or service that a business…
Q: Examples how a firm may suffer from diseconomies of scale
A: Diseconomies of scale happen when an organization or business firm develops so enormous that the…
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.
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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: What is the relationship between a firm’s total revenue, profit, and total cost?
A: Total revenue (TR) is the amount earned by the firm by selling its goods. Total Cost (TC) is the…
Q: Does a relationship exist between increasing returns to scale and long-run average cost? Ex with the…
A: Economies of scale or increasing returns to scale are utilized conversely; both implies to a fall in…
Q: If marginal cost exceeds average variable cost, average variable cost is decreasing average variable…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Find 10 problems related to variable cost and solve it.
A: Variable cost is such a cost which vary directly with the level of output. They can be of two types…
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: If marginal cost is less than the average variable cost and output increases, average total cost…
A: Average variable cost(AVC) is the ratio of total variable cost(TVC) to output(Y). Average total…
Q: You overheard Mr. John, the newly-hired marketing manager, saying: “I think our company should take…
A: Economies of scale refers to the concept used by the organization in which the organization increase…
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: $/Q MC $30 ATC AVC 20 D 10 MR 50 100| 150 200 117 222
A: Given:ATC=$20Quantity=117
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: What are some of the implicit cost incurred by an entrepreneur in running a firm? How are these…
A: The opportunity cost refers to the value of the next best alternative sacrificed when an individual…
Q: The Firms average total cost is $60 its average variable cost is $30 and its total fixed cost is…
A: Output: It refers to the quantity that a company is producing goods and services within a limited…
Q: In a recently opened shopping mall, Jagdeep sells handmade coffee mugs in abooth for $25 each and…
A: The break-even point is a level of quantity at which the total revenue generated from the sale of…
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: 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: Give business examples of short-run costs, economies of scale, and minimum efficient scale (MES).
A: At the Mininum effiecient scale point, the company could achieve the economies of scale being…
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: Fixed costs and Variable costs are considered to be costs.
A: The factor of productions are the labor, raw materials, capital, land etc which incurred some cost.…
Q: List several fixed and variable costs associated with owning and operating an automobile. Suppose…
A: The fixed cost is incurred whether an activity take place or not. The variable cost varies with the…
Q: TC = 200 + 60Q+ 2Q? What is the average variable cost when 4 units are produced? Enter as a value.…
A: Average variable cost is the cost per unit here we calculate which are as follow-
Q: What is the economies of scale of General Motors?
A: The advantages of cost which is being obtained by the enterprises being solely due to their scale of…
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: 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: A garment factory has total fixed costs of $300,000 per year. The firm’s average variable cost is…
A: The provided information are: Total fixed cost = $300000 Average variable cost = $80
Q: The cost structure of a manufacturer of microchips is described in the table in the next column. The…
A: Average total cost:Average total cost can be calculated by using the following formula:
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: Find the value of A. Quantity Total Cost $5,000 Fixed Cost Variable Cost Average Total Cost Average…
A: The sum of fixed cost and variable cost makes total cost.
Q: Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and…
A: Productivity of an input is defined as the average amount of a good that can be produced using each…
Q: The differences between total costs and variable costs is given by sunk costs
A: ANSWER STEP-1 The Differences Between Total Costs And Variable Costs Is Given By Sunk Costs True…
Q: c) Graph P. d) Use your graph of P to estimate the number of panels that give maximum profit. e) How…
A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: The variable cost per unit varies with output, whereas the fixed cost per unit is constant." Do you…
A: Total variable cost (TVC) is the total cost component that changes with a change in output, so AVC =…
Q: Explain graphically cost behaviour in a fixed size plant?
A: Fixed cost refers to the cost that the firm needs to bear always that does not change with the…
How General Motors improve or operate their economies of scale?
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- How Toyota Motors operate their economies of scale?After one month of operation, UCC Cafe decided to shorten its business hours and close on weekends. What costs, fixed or variable, should UCCCafe have considered when it made the decision? Explain in detail.What is the economies of scale of General Motors?
- After one month of operation, OU Café determined to shorten its business hours and close on weekends. What costs, fixed or variable, should OU Café have considered when it made the decision? Explain in detail.What is the average total cost of producing 300 LCD screens?Melvin manufactures a single product. Total cost per unit is $70 when production is 100 units per week, and $62.50 when production is 160 units per week. What are the total fixed costs per week?
- What is a cost reduction?A firm producing 1000 units at a total cost of $5000, if it were to increase production to 1001 units , its total cost would raise to $5008, what does the information tell you about the firm?Use the accompanying graph to answer the following questions. Assume the company makes 30,000 parts per month of Product A and 17,500 parts per month of Product B. Click the icon to view the provided graph. (a) Which Product has the higher variable cost, and what is this value in units of dollars per part? has the higher variable cost. This value is $/part. (Type an integer or a decimal. Round your answer to two decimal places.) More Info Total Cost or Revenue [$] Milions $6- $5- $4- $3- FA $0- O. 0 10 - Product A Total Cost - Product B Total Cost Product A Revenue Product B Revenue G1 A 20 30 G T 40 Time (t) [months] Print 50 Done 60 N ... 70 80 Ⓡ o X
