If a restaurant can cover its variable costs during lunch operation, then in the short-run it will Select the correct answer below: stay open for lunch shut down for lunch close operations altogether none of the above

If a firm's revenues do not cover its average variable costs, then that firm has reached its price taking point shutdown point marginal point opportunity margin

Consider a small dental practice. Which of the following is NOT an example of a fixed cost? Rent on the office space O The receptionist's salary O Fees to renew the dentist's license each year O X-ray film

Note:Hand written solution is not allowed.

Classify the following milk bar short-run costs as fixed cost or variable cost  Milk truck Fruit freezer   Cost of milk sold each day ii) Assuming the following are the costs of your milk bar after the end of the second week answer the question below based on the following information. Fixed cost increased from 100 to 150 Variable cost increases from 220 to 300 Milk output increases from 450 to 620  a) What is the average total cost during the second week. Show your work  b) What is the marginal cost. Show your work

Show full answers and steps to part d) e) & f)

$ per unit $40 $20 2 4 6 8 10 MC 12 ATC MR AVC Output (q) The graph above shows a firm's Marginal Revenue (MR), Marginal Cost (MC), Average Total Cost (ATC) and Average Variable Cost (AVC). This firm is a profit-maximizing price taker. Find the firm's short run shutdown price. (Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.)

A company produces very unusual CD's for which the variable cost is $ 9 per CD and the fixed costs are $ 50,000. They will sell the CD's for $ 57 each. Let x be the number of CD's produced and sold. a. Write the total cost TC as a function of the number of CD's produced and sold. TC = $ b. Write the total revenue TR as a function of the number of CD's produced and sold. TR = $ c. Write the total net income NI as a function of the number of CD's produced and sold. NI = $ d. Find the number of CD's which must be produced and sold to breakeven. The number of CD's which must be produced and sold to breakeven is Round UP to the nearest whole number of CDs. Submit Question

Can you help solve the rest of these?

What is the term for the lowest level of output at which a firm's goods are produced at minimum long-run average total cost? the point of diminishing returns the minimum total product the minimum efficient scale the point of zero marginal cost