Marginal Cost (dollars) Units of Variable Total Cost Output Cost (dollars) (dollars) 0. 60 45 105 45 75 135 30 90 150 15 4 120 180 30 158 218 38 6. 225 285 67 Refer to Table 7-5. How much are average fixed costs at three units of output? $0 $15 $20 $60

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…

Question 7 of 20 Total Total Average Average Average Fixed Variable Total Marginal Variable Fixed Cost $200 Output Total (Q) Cost Cost Cost Cost Cost Cost $0 $200 $200 $150 $350 40 $200 $250 $450 60 $200 $450 $650 80 $200 $800 $1,000 For the cost data shown above, what is this firm's Average Total Cost (ATC) when Output (Q) is 80? $12.50 $1,000 $11.25 O $10.83 20

H13). Importance of Understanding Cost Behavior Patterns Recognizing and understanding cost behavior patterns serve multiple purposes within a company. What are at least 4 of them and explain.

Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100         1,000 $110         2,000 $125         3,000 $145         4,000 $175         5,000 $215         6,000 $285         a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $       Variable cost, 0 photocopies/month: $     Variable cost, 1,000 photocopies/month: $     Variable cost, 2,000 photocopies/month: $     Variable cost, 3,000 photocopies/month: $     Variable cost, 4,000 photocopies/month: $…

solution plz

Q3 need in 10 minutes

The table below shows the weekly cost of producing cowboy hats. Complete the table by filling in the missing values. Instructions: Round your answers to 1 decimal place. Cowboy Hat Production Costs Total Fixed Cost (dollars) $2,000 Total Variable Cost (dollars) Total Cost (dollars) $2,000 Average Fixed Cost (dollars) Average Variable Cost (dollars) Average Total Cost (dollars) Output $0 10 300 24 $4 $230 20 2,460 23 123 30 660 66.7 22 40 2,900 72.5 50 1,200 24

For each lettered space in the following table, determine the appropriate dollar amount.

(Figure: Cost Schedule) Quantity Fixed Cost Fixed Cost 0 1 2 3 4 5 A $13 B) $9.40 C) $47 $11 11 11 11 11 11 D) $2.20 Variable Cost . SO 3 8 14 23 36 Marginal Cost - In the figure, what is the average total cost to produce 5 units? $3 56 6 9 13