a) 100
(Fixed cost is the cost which doesn't vary with output. It is not attached to Q)
b) 10 Q
( lts the cost which varies with output. So its the value attached to Q)
c) 10
( Marginal cost the derivative of the Total cost function
MC = d/d Q ( 100+10Q)
= 10)
d) 100/ Q
(Average fixed cost is the fixed cost per unit of output. It can be found be dividing the total cost with output.)
e) 10
(Variable cost is found by dividing the total variable cost with output 10Q/ Q =10)
f) (100+10Q)/ Q
( lts the total cost per unit of output. It can be obtained by dividing the total cost with output.
ATC = TC/ Q = (100+10Q)/Q
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100...
7) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200 + SQ. What is the marginal cost? A) 200 B) 50 C) 5+ (200/0) D) 5 8) The total cost (TC) of producing computer software diskettes (Q) is given as: TC - 200+ 50. What is the average total cost? A) 500 C) 50 B) 5+ (200/0) D) 5 enne n The marginal cost is constant at $0.10 for all
3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q- + 3.1 (10 points) What are the firm's fixed costs, variable costs, average costs, average fixed cost, average variable costs, and marginal costs? 3.2 (10 points) Graph all 7 cost functions (TC, VC, FC, AC, AVC, AFC, MC) for quantities q 0 to q 10. You can use the Excel program to generate these graphs, plot C, VC, and FC in one graph and...
Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average fixed cost AVC: Average variable cost ATC: Average total cost lormal text - Times New... - 12 B I VA G E A E 1 E- Labor Week 6 Assignment: Production Costs 20 Points) Output MPL FC VC TC MC AFC AVC ATC (Q) 0 25 WN 25 50 75 100 13 25 15 F 16 25 125 1. Complete the table above. (4...
Consider a competitive rm with total costs given by TC(q) = 100 + 10q + q^2, The firm faces a market price p = 50. (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q. (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q. (c) For what value of output is ATC minimized? (d) Find the profit maximizing level of output q...
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q. (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q. (c) For what value of output is ATC minimized?
1. When ONLY Total Costs (TC) are known, explain how to calculate each of the following: a. Fixed Costs (FC) b. Variable Costs (VC) c. Average Variable Costs (AVC) d. Average Total Costs (ATC) e. Average Fixed Costs (AFC) f. Marginal Costs (MC)
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital are used in the short run. Labor costs $20 per unit. 7. Total Cost Average Average Marginal Variable Cost |(MC) Fixed Units of Units of Variable Average Fixed Labor (L) Cost (FC) Cost (VC) (TC) Total Cost Output (ATC) (Q) Cost Cost (AFC) (AVC) 0 0 1 2 2 4 3 6 4 8 10
Complete the following chart. Quantity Total Cost (TC) Total Fixed Cost (FC) Total Variable Cost (VC) Average Total Cost (ATC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Marginal Cost 0 100 0 1 50 2 80 3 100 4 110 5 130 6 160 7 200 8 250 9 310 10 380
The cost of producing x units of a commodity is given by. TC(x)=100+40x+2x^2 Derive the following functions: FC = VC = AFC = AVC = ATC = Find TC(x+1)-TC(x), and explain in words what this means.
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...