Suppose that the firm Smith Co sells 400 blouses per month for $80 per blouse. Roberto, the owner of the business and does not take salary from her business yet. Roberto is a textile engineer by trade and could be earning $ 4800 per month working for a similar firm. The monthly costs of production are as follow: materials: $ 8000 labor: $12800 other: $ 1600 What is are Smith Co's total explicit costs? $ What is are Smith Co's total implicit costs? $ What is Smith Co's accounting profit? $ What is Smith Co's economic profit? $

The following table represents the short-run total cost schedule of a bottled water manufacturer. Study the table below and then answer the question. When output increases from 30 to 80 bottles of mineral water, the marginal cost of producing one of those 50 bottles of mineral water is: Labour (workers per day) Output (bottles of mineral Total cost (R) water per day 0 0 400 1 30 700 2 80 1000 3 120 1300 4 140 1 600 5 150 1900 a) R5 b) R6 이이 c) R12,50 d) R20

Fill in the space (d) in the table below associated with the firm William Perry, Inc., that delivers refrigerators in the Chicago area, using the two inputs of labor and trucks. Number of Amount of Trucks Labor 2 2 2 2 2 2 2 0 1 2 3456 Total Output 0 75 (c) 380 (f) Average Product of Labor (a) (b) 100 (d) (e) 75 Marginal Product of Labor 100 50 (g) 0

computer system. The last run of the production cost schedule resulted in the incomplete listing shown below (listed as question numbers). From your knowledge of cost theory, solve for the values in the table to the corresponding questions below. During the last few days the Superior Company has been running into problems with its ATC AFC - MC TC TFC TVC 75 75 A 75 100 75 В 1 75 37.5 15 TC total costs, TFC = total fixed costs, TVC = total variable costs, ATC = average total costs, %3D %3D AFC = average fixed costs, AVC = average variable costs, MC = marginal costs What is the correct numerical value for C in the table? 100 37.5 O 57.5 O 20

The following is a cost schedule for A & E Manufacturing Company Ltd for product X.   Quantity (Q) Fixed Cost Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0     100         1   30           2           25   3   60           4 100         18     Required: Calculate the missing costs and complete the schedule.  On one diagram, plot and label the Marginal Cost curve, the Average Fixed Cost curve, Average Variable Cost Curve and the Average Total Cost curve.                       Explain the relationship which exists between the Marginal Cost Curve and the Average Total Cost Curve.  What accounts for the ‘U’ shape of the Average Total Cost Curve?

Which of the following is most likely to be a variable cost for a firm? B. O an annual payment for insurance on the firm's plant O the interest payments made on equipment loans O the monthly rent on office space that it leased for 5 years O the wages paid to workers. - Previous Next 21 étv A MacBook Pro

Fill in the missing data to solve this problem. Variable Total Average MarginalInput Product Product Product4      ?       70     ----5      ?      ?     406      350      ?        ? What is the total product for 5 units of input, and what is the marginal product for 6 units of input?

Fill in the space (a) in the table below associated with the firm William Perry, Inc., that delivers refrigerators in the Chicago area, using the two inputs of labor and trucks. + O Number of Amount of Trucks Labor O Undetermined O 0 2 2 2 2 2 2 2 2 0 1 2 3 4 5 6 Total Output 0 75 (c) 380 (f) Average Product of Labor (a) (b) 100 (d) (e) 75 Marginal Product of Labor 100 50 (g) 0

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