I’MABigCorp. produces and sells kitchen wares. Last year, it produced 7,000 can openers and sold each one for $6. To produce the 7,000 can openers, the company incurred variable costs of $28,000 and a total cost of $45,000.  I'MABIGCorp.'s average fixed cost was?

If the total fixed costs of manufacturing 100 fans is $7500. Calculate the average fixed costs.

If 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:

At an output of 3,000 units per year, a firm's total variable costs are $1,000 and its average fixed costs are $2. Its total costs per year are:

Question 1 Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer. Quantity of Output Total Cost $12 1 $14 2 $18 $24 4 $32 5 $42 6 $54 7 $68 The table above shows the total cost function for a typical firm producing hats in a perfectly competitive market. The market price for hats is $9 per hat. (a) Calculate the average variable cost of the fifth unit. Show your work. (b) What is the firm's profit-maximizing quantity of hats? Explain using marginal analysis. (c) Draw a correctly labeled graph showing the firm's demand and marginal cost curves, and show the profit-maximizing quantity of hats determined in part (b). (d) If the rent of the building the firm occupies increases, what will happen to the firm's profit-maximizing quantity of output in the short…

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The Cooper Company has the following information on costs. Quantity Fixed Cost Variable Cost 3 200 10 4 200 20 5 200 30 Calculate the average variable cost of producing 5 units. Round your answer to two decimal places if necessary.

Complete the cost schedule below for the Ozzie Ugg Boot Co.    Total product (Q) Total fixed cost  (TFC) Total variable cost   (TVC) Total Cost (TC) Marginal Cost (MC) Average fixed cost (AFC) Average variable cost   (AVC) Average total cost (ATC) 0 $50   $50                 C       1     $80                 D       2   B $95                 E       3 A   $105                 F       4     $110     I           G       5     $130                 H       6     $160       J   List the values that you obtained for the letters A to J in your answer (no more than 2 decimal places). What is the most efficient level for the company to produce its product? Why?

Marginal cost can be calculated both from total cost and total variable cost and is not affected by total fixed cost True/False

a) Calculate the marginal product (MP1) for the mixers. Does the production function have increasing, decreasing, constant marginal product for the mixers? b) Suppose in the short run the amount of machines she has is fixed at 27. How many mixers should she use? How many baklavas will she produce? How much profit will she make? c)Usinag an isoprofit, as well as the production function, draw a diagram of your soltuion from part (b). carefully label all the slopes and intercepts. d) In the long run, how many mixers should she use? How many machines? How many baklavas will she make? e) Suppose that the government decides to provide a $1 subsidy per mixer. What is the profit-maximizing amount of input to use now?