Homework Answers
Question 6
When an additional unit of output is produced then the cost associated with such production of an additional unit is referred to as the marginal cost.
Hence, the correct answer is the option (2) [Marginal Cost].
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Question 6 0.5 pts The cost to produce an additional unit of output is known as...
D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable...
D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable Cost O Marginal Cost O Average Cost O Incremental Cost No new data to save. Last checked at 5:24pm Submit C Question 9 0.5 pts The life-cycle cost of new apartment complex begins when when and ends O the first tenant moves in...the building is sold to a new owner O construction starts...an occupancy permit is issued O an architect is retained...the first tenant...
Question4 0.5 pts In general, as the accuracy of a cost estimate increases O the time...
Question4 0.5 pts In general, as the accuracy of a cost estimate increases O the time and cost to prepare the estimate increase. O the cost to prepare the estimate increases, but the time to prepare the estimate decreases. O the time and cost to prepare the estimate decrease. O the time to prepare the estimate increases, but the cost to prepare the estimate decreases. 0.5 pts Question 5 /uab.instructure.com/courses/1498595/quizzes/2029532/take The cost to repair your car to working condition. D...
QUESTION 4 Assuming each unit of variable inputs cost the same, marginal cost will increase as...
QUESTION 4 Assuming each unit of variable inputs cost the same, marginal cost will increase as output increases if O Variable cost is rising. Total cost is rising Marginal physical product is rising. Marginal physical product is falling QUESTION 5 In the short run, when a firm produces zero output, total cost equals: O fixed costs. variable costs O zero. O average total cost. QUESTIO Economic cost includes: O Only the value of resources used to produce a good for...
Question 20 1 pts When people spend more years in school, this results in a externality because there are created by a...
Question 20 1 pts When people spend more years in school, this results in a externality because there are created by a more highly educated population. positive; external costs negative; internal costs O positive; internal benefits positive; external benefits negative; external costs Question 15 1 pts A producer knows that the price elasticity for his product is -0.5. He wants to increase quantity demanded by 30 percent. How should he change the price? increase by 6% increase by 60% decrease...
neg This Question: 1 pt 6 of 8 (6 complete) This Quiz: 8 pts possible Marginal...
neg This Question: 1 pt 6 of 8 (6 complete) This Quiz: 8 pts possible Marginal cost-benefit analysis and the goal of the firm Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal. The manager of the automotive division believes that replacing the robotics used on the heavy truck gear line will produce total benefits of $564,000 (in today's dollars) over the next 5 years. The existing robotics would produce benefits of $415,000...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x x, E 12pt B I UA Paragraph T
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x...
5. The cost of producing an additional unit of output is the firm’s a. Marginal cost b. Average total cost c. Variab...
5. The cost of producing an additional unit of output is the firm’s a. Marginal cost b. Average total cost c. Variable cost d. Average variable cost 6. Which of the following equations represents a typical (generic) production function studied by economists? a. E = mc2 b. MC = (change in total costs)/(change in quantity) c. Profit = Total Revenue – Total Costs d. Q = f(K,L) e. ECON 202 = fun 7. A firm would never choose to continue...
9:08 1 Exit Question 3 2 pts Average variable costs equal total variable costs divided by...
9:08 1 Exit Question 3 2 pts Average variable costs equal total variable costs divided by marginal costs. total variable costs divided by output. the change in marginal costs from producing another unit of output. O output divided by the change in total costs. Question 4 2 pts Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 65 cookies together. What is the average product of the first two...
Question 17 1 pts Ma Baensch's pickled herring factory has variable costs of $500 for 500...
Question 17 1 pts Ma Baensch's pickled herring factory has variable costs of $500 for 500 jars and variable costs of $505 for 501 jars. The marginal cost of the 501st jar is: $503 Unknown because we do not know fixed costs. O $3 $5 Question 18 1 pts Sam, a cost analyst for Jiffy, observes that when they are producing 800 jars of peanut butter an hour, their marginal cost is 53 cents ($0.53) and their average variable cost...
O Variable costs per unit remain the same regardless of the volume. Question 7 2.5 pts...
O Variable costs per unit remain the same regardless of the volume. Question 7 2.5 pts Which of the following costs are most likely to be classified as variable? Factory rent Manager salaries Insurance Direct materials Straight-line depreciation 2.5 pts Question 8 Which of the following costs are most likely to be classified as fixed? Differential cost Question 6 2.5 pts Which one of the following statements is not true? Total fixed costs remain the same regardless of volume within...
D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable Cost O Marginal Cost O Average Cost O Incremental Cost No new data to save. Last checked at 5:24pm Submit C Question 9 0.5 pts The life-cycle cost of new apartment complex begins when when and ends O the first tenant moves in...the building is sold to a new owner O construction starts...an occupancy permit is issued O an architect is retained...the first tenant...
Question4 0.5 pts In general, as the accuracy of a cost estimate increases O the time and cost to prepare the estimate increase. O the cost to prepare the estimate increases, but the time to prepare the estimate decreases. O the time and cost to prepare the estimate decrease. O the time to prepare the estimate increases, but the cost to prepare the estimate decreases. 0.5 pts Question 5 /uab.instructure.com/courses/1498595/quizzes/2029532/take The cost to repair your car to working condition. D...
QUESTION 4 Assuming each unit of variable inputs cost the same, marginal cost will increase as output increases if O Variable cost is rising. Total cost is rising Marginal physical product is rising. Marginal physical product is falling QUESTION 5 In the short run, when a firm produces zero output, total cost equals: O fixed costs. variable costs O zero. O average total cost. QUESTIO Economic cost includes: O Only the value of resources used to produce a good for...
Question 20 1 pts When people spend more years in school, this results in a externality because there are created by a more highly educated population. positive; external costs negative; internal costs O positive; internal benefits positive; external benefits negative; external costs Question 15 1 pts A producer knows that the price elasticity for his product is -0.5. He wants to increase quantity demanded by 30 percent. How should he change the price? increase by 6% increase by 60% decrease...
neg This Question: 1 pt 6 of 8 (6 complete) This Quiz: 8 pts possible Marginal cost-benefit analysis and the goal of the firm Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal. The manager of the automotive division believes that replacing the robotics used on the heavy truck gear line will produce total benefits of $564,000 (in today's dollars) over the next 5 years. The existing robotics would produce benefits of $415,000...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x x, E 12pt B I UA Paragraph T
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x...
9:08 1 Exit Question 3 2 pts Average variable costs equal total variable costs divided by marginal costs. total variable costs divided by output. the change in marginal costs from producing another unit of output. O output divided by the change in total costs. Question 4 2 pts Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 65 cookies together. What is the average product of the first two...
Question 17 1 pts Ma Baensch's pickled herring factory has variable costs of $500 for 500 jars and variable costs of $505 for 501 jars. The marginal cost of the 501st jar is: $503 Unknown because we do not know fixed costs. O $3 $5 Question 18 1 pts Sam, a cost analyst for Jiffy, observes that when they are producing 800 jars of peanut butter an hour, their marginal cost is 53 cents ($0.53) and their average variable cost...
O Variable costs per unit remain the same regardless of the volume. Question 7 2.5 pts Which of the following costs are most likely to be classified as variable? Factory rent Manager salaries Insurance Direct materials Straight-line depreciation 2.5 pts Question 8 Which of the following costs are most likely to be classified as fixed? Differential cost Question 6 2.5 pts Which one of the following statements is not true? Total fixed costs remain the same regardless of volume within...
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