onsider the production process for a Vending Machine Service. Identify the fixed costs associated with running your small business. Identify the variable costs associated with running your small business. Discuss changes you might make in the long run.

Q: What is the relationship between the firm,total revenue,total profit and total cos

A: Costs are the expenses that the firms have to incur in their production activities. Revenue is the…

Q: When marginal cost is greater than average variable cost, average variable cost i v (Click for List)…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: Define a variable cost and a fixed cost. What causes changes in these costs? Give two examples of…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: In the ice cream industry, in the short run, what cost includes the cost of cream and sugar, but not…

A: The marginal cost-  is the difference in overall production costs resulting from manufacturing or…

Q: Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account…

A: Given:Implicit cost:=4,00,000*5%=$20,000Explicit cost=Incurred cost=$12,000Total…

Q: The value of average cost is $80, the value of average variable cost is $49 Calculate the value of…

A: We know that the total cost is given as:- TC = TFC + TVC Dividing both sides with output:- AC = AFC…

Q: How General Motors improve or operate their economies of scale?

A: This significant car maker has encountered interruptions to its tasks as interest in autos has…

Q: he Organizational Culture of Quinlan's

A: Organizational culture is an example of essential presumptions that are created by a given gathering…

Q: Classify the Costs for Manufacturing Environments?

A: The classification cost for manufacturing environments is categorized with respect to nature is…

Q: The most efficient scale of production is where at which point?

A: According to the given question In simple words we can say that scale of production basically or…

Q: How would the following cost be classified? Rent that would be received if an owned building were…

A: In economics, costs are classified based on their impact on an individual such as direct cost or…

Q: Impact

A: Before delving into the impact of COVID-19 on sports' businesses, it is important that we understand…

Q: Marginal cost tells us a. the amount fixed cost rises when output rises by one unit O b. the…

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Which of the following would be considered a fixed cost of Marty Byrde’s Boat Rides & Rental? Group…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is that cost that does not depends…

Q: Douglas Fur is a small manufacturer of fake-fur boots in Philadelphia. The following table shows the…

A: find below the filled answers

Q: ABC Company issued a payment for the suppliers of raw materials they used in producing their goods.…

A: Fixed cost is the costs that needs to paid every month or year whether the production process is…

Q: A 500 400 300 200 100 Quantity (units per day) The graph above shows the cost in the short run 1.…

A: "In the short run, production process consists of one fixed input and one variable input of…

Q: Roger quit his job now he spends all his time writing poems and reading them to his ex girlfriend.…

A: Structural unemployment: It is a type of compulsory joblessness brought about by a jumble between…

Q: Give some specific examples of Product Costs?

A: The costs incurred in the creation of a product form the product cost. Product cost can be…

Q: Is a farm business considered Land, Labor, Capital

A: Factors of production are the inputs used in the production process and they can be broadly…

Q: Naming the components of key costs involved for the restaurant including fixed costs and variable…

A: Cost refers to the total amount of money, time, or assets required to create or secure something. It…

Q: A retail store realizes a gross profit of $51.24 if it sells an article at a margin of 31% of the…

A: As per the question, we are provided with some details: Gross profit = $51.24 Margin = 31% Overheads…

Q: calculations, to earn revenue of $6,000 per month, she needs to sell printouts of 27,000 sheets per…

A:

Q: Use the information in the table to answer the below question. Price Quantity Total Revenue Total…

A: The total variable cost is an add up of the total amount that a company spends on expenses that…

Q: The below table shows the cost of a Pizza shop in Bahrain, Calculate all the missing values in the…

A: "When a firm produce costs are associated with the production process. Total cost (TC) is computed…

Q: Accounting profit is $1500 and the explicit cost is $450 Calculate the value of total revenue

A: Information given to us According to the question is:- Accounting profit = $1500 Explicit cost =…

Q: Costs

A: The amount pay to buy something ie good or service or the expense which is paid to have something .…

Q: Use economies of scale to link a firm’s size and its average costs in the long run.

A: Economies of scale refers to a situation when the average cost of production falls with higher level…

Q: Variable costs are

A: The costs that are related to the manufacturing of the items are known as variable costs, and the…

Q: Total revenue, total cost, and profit. Oscar runs a lemonade stand. He sells each cup of lemonade…

A: GIVEN:Price of each cup of lemonade Variable cost per cup Fixed cost Total cups soldPROBLEM:Find the…

Q: Evaluate the factors affecting firm behavior, such as production and costs

A: The allocation of resources in economics is determined by economic profit which relies on how much…