You have a price of $5 per unit. Your total variable costs are $1 per unit and your fixed costs are $4,000 per month. How many units do you need to sell to break even for the month?

Variable costs are Multiple Choice costs that remain to be paid even if the firm shuts down temporarily. costs that change every day or every month. costs that change with the level of production. changes in total cost due to the production of an additional unit of output.

Total revenue, total cost, and profit. Oscar runs a lemonade stand. He sells each cup of lemonade for $2.50. The variable cost per cup, including lemons, sugar, and cups, is 50.75. Additionally, Oscar has fixed costs of $20 for his stand and equipment. In a day, Oscar sells 50 cups of lemonade. Calculate Oscar's total revenue, total cost, and profit for the day. Provide your rationa

How do you calculate a firm's total cost and total revenue?

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Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determine the total fixed cost first.) Instructions: Enter your answers rounded to two decimal places. Total Average Fixed Cost Average Total Cost Marginal Cost Output Variable Total Cost Cost 1 $10.00 $9.76 $9.76 $19.76 2 $19.06 $14.53 $9.30 $29.06 3 $3.33 $12.63 $37.90 4 $2.50 $36.31 $11.58 $8.41 $46.31 $2.00 $44.30 $10.86 LO

in your own personal life, what are some fixed and variable costs you have?

Consider the following cost information for a pizzeria: Quantity (Dozens of pizzas) 0 1 2 3 4 5 6 The pizzeria's fixed cost is $ Total Cost Variable Cost (Dollars) (Dollars) 300 0 350 50 390 90 420 120 450 150 490 190 540 240

Chris The use of fixed cost items to magnify the firm's results Correct! What are some uses for break-even analysis? Select all that apply, then click Submit below To see how much the changes in cost affect variable costs. To see how much the changes in volume affect cost and profit. To determine the magnitude of operations necessary to avoid loss. To figure out the most efficient level of fixed costs for the firm. To figure out the most inefficient way to make profit. To figure out the operating leverage. Submit

Complete the table by filling in the average fixed cost, average variable cost, and average total cost.   Instructions: Round your answers to 2 decimal places.   Vintage Model Car Production Costs Output Total Fixed Cost (dollars) Total Variable Cost (dollars) Total Cost (dollars) Average Fixed Cost (dollars) Average Variable Cost (dollars) Average Total Cost (dollars) 0 $2,000 $0 $2,000 — — — 100 2,000 800 2,800       200 2,000 1,300 3,300       500 2,000 4,350 6,350