The cost of any activity measured in terms of the vaule of the next best alternative forgone is called? a. sunk cost  b. opportunity cost c. Attained cost d. fixed cost

Q: Marginal cost intersects average total cost at minimum average total cost. True False

A: The price curve always intersects the typical total cost curve at its lowest point because the…

Q: A Vietnamese restaurant in Port-of-Spain decides to use a part of its dining hall to sell Vietnamese…

A: Economies of scale suggest average cost will decline as more is being produced. Economies of scope…

Q: Average total cost, average variable cost marginal cost and marginal product b. The relationship…

A: Average Total Cost or Average Cost is the total cost (TC) divided by the number of units produced…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: a) Completing the Table:To complete the table, we need to calculate the Marginal Cost (MC) and…

Q: Costs 80 MC AVC ATC 120 160 180 200 Refer to the graph above to answer this question. What does…

A: Cost refers to all the expenses that incur in the process of production of goods or services. These…

Q: b. If AC= Q?-4Q+10 i. Final the total cost and marginal cost function. Is this function is more…

A: TC = Q x AC = Q3 - 4Q2 + 10Q MC = dTC/dQ = 3Q2 - 8Q + 10

Q: The difference between variable cost and fxed cost is that Select one: a. fixed cost is paid even…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Solve the attachment.

A: Marginal cost is the addition to the total cost due to the production of an extra unit of output,…

Q: Is a type of cost which does not vary with the unit of production and will remain constant…

A: Cost refers to the money involved in producing the goods and services by the producers. They include…

Q: Refer to Figure: The vertical distance ABis Select one: A. total cost. B. marginal cost. C. total…

A: Curve 1 is the Marginal Cost(MC) Curve Curve 2 is the Average Variable Cost(AVC) Curve Curve 3 is…

Q: If marginal cost is greater than average total cost, then average total cost must be increasing.…

A: The marginal cost curve is downward sloping when it is below ATC. At the same time ATC is also…

Q: marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to…

A: The total average cost is defined as the aggregate of all costs of production at a given level of…

Q: A  large-scale producer selling a wide range of soft drinks. (a) Outline and explain the sources of…

A: Diseconomies of scale occur when a business grows so large that the costs per unit increase. It…

Q: Total cost is equal to average cost times marginal cost. a. True O b. False

A: # Total cost is referred to be as the sum of total fixed costs and the total variable costs which…

Q: 70. Total costs in the short-term are classified into fixed costs and variable costs. Which one of…

A: Total cost includes all the costs incurred for producing the product.

Q: Pick up the element of the cost from the following: Select one: a. direct material b. direct labor…

A: There are various types of costs that are incurred during production process.

Q: True or False The slope of the total cost curve is equal to marginal cost, or the change in…

A: Total cost It refers to all the cost or expense that is incur in a production process.It is given by…

Q: Suppose, Home Style is a well-known furniture manufacturer in the Sultanate. To meet the increasing…

A: The key motive of the firms operating in a market is to earn profits from the sale of goods and…

Q: 51. Which cost increases continuously with the increase in production?

A: To find : Which cost increases continuously with the increase in production.

Q: Accounting and economic cost Economic cost

A: Accounting Cost = Accounting costs measure the financial value of taking an action. They are the…

Q: What does the Cost basis generally include?

A: In engineering economics, the cost basis of an asset represents the total cost of an asset that…

Q: What will happen to the average total cost if the average variable cost is falling? a. Rises B.…

A: The average Total cost if the the average variable cost is falling is also falling.

Q: Lesson 8 - Costs Question 5

A: C. Implicit costExplanation:Implicit costs Cost where one has to give up something valued that is…

Q: _________ refers to the additional cost spent to produce one more unit of the product. a. Marginal…

A: Money cost is the nominal cost and the cost that is spent by the firm in producing the commodity.…

Q: Table 8.5 Output Total Cost 0 15 1 25 2 33 3 40 4 48 5 58 6 70 Refer to Table 8.5. The marginal…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: Which of the following best defines a sunk cost?   A. Costs that have already been incurred and…

A: The question focuses on identifying the most accurate definition of a sunk cost. Sunk costs are a…

Q: a large-scale producer selling a wide range of soft drinks. (a) Outline and explain the sources of…

A: Diseconomies of scale occur when a business grows so large that the costs per unit increase. It…

Q: Which of the following would be categorized as an implicit cost? a. not being able to spend your…

A: The implicit cost is the cost that already occurred but is not recorded in the business.  It is the…

Q: Total cost is equal to average cost times marginal cost. a. True O b. False

A: The above statement is "False". As we know that, The total cost is not equal to the product of…

Q: As long as marginal cost is below average cost, average cost will be a. falling b. rising. .…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Amjad takes twenty minutes to travel from his home to his work using his car; however, he chose to…

A: The money spent to purchase the factor of production to produce goods and services is termed as cost…

Q: The government imposes a $1,000 one-time license fee on all pizza restaurants.  As a result, which…

A: Fixed cost are the cost that remains fixed at any level of output.  Variable cost vary with the…

Q: Fixed cost is a. Any cost that does not vary with the quantity of output. b. The ratio of total cost…

A: Companies have different costs linked to their company. These expenses are broken down by the…

Q: If the marginal cost of production is greater than the average cost, in what direction must the…

A: If marginal cost is higher than average cost it means the slope of average cost will be higher than…

Q: Which cost inc with the increase in production? (a) Average cost. (b) Marginal cost. (c) Fixed cost.…

A: According to the given question The cost in economics are usually defined as the amount of the…