Homework Answers
TC = 10+10q-4q^2+q^3
FC = 10 (Constant value in Cost function)
VC = 10q-4q^2+q^3 (The part of the cost function dependent on output)
MC =dTC/dq 10-8q+3q^2 (First Order Derivative of cost function) (alternatively we sometimes MC = Change in TC/Change in Q is used for simplification, here MC = dTC/dq has been used as the function is given)
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3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q-...
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100...
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 100 + 10Q. What is the; a. fixed cost (FC), b. variable cost (VC), c. marginal cost (MC), d. average fixed cost (AFC), e. average variable cost (AVC), f. average total cost (ATC)?
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital a...
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
Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average...
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...
A firm’s short run cost function is C(q)=150q-4q^2+0.4q^3+275 . Determine the fixed cost, F; the average...
A firm’s short run cost function is C(q)=150q-4q^2+0.4q^3+275 . Determine the fixed cost, F; the average variable cost, AVC; Average Fixed Cost, AFC; Average Cost, AC; and the Marginal Cost, MC.
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve,...
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...
Question 3.(12 points). Suppose a firm has a short-run cost function: C(q) = 1000 + 2009...
Question 3.(12 points). Suppose a firm has a short-run cost function: C(q) = 1000 + 2009 - 5q2 + 0.573. What are the fixed cost (F), the variable cost function (VC), the marginal cost (MC), the average cost (AC), the average fixed cost (AFC) and the average variable cost (AVC)?
This table describes the cost structure for a firm producing cakes. Q (number of cakes produced)...
This table describes the cost structure for a firm producing cakes. Q (number of cakes produced) 0 Fixed Costs, FC Variable Costs, VC 0 Total Costs, TC Average Variable Costs, AVC Average Total Costs, ATC 1 40 70 70 40 2 3 4 5 270 330 What is the average total cost (ATC) of producing 5 cakes? $80 $50 $40 $20
L K Q VC FC TC AVC AFC ATC MC 0 5 0 0 5 5...
L K Q VC FC TC AVC AFC ATC MC 0 5 0 0 5 5 1 5 2 2 5 7 1.00 2.50 3.50 1.00 2 5 6 4 5 9 0.67 0.83 1.50 0.50 3 5 12 6 5 11 0.50 0.42 0.92 0.33 4 5 19 8 5 13 0.42 0.26 0.68 0.29 5 5 25 10 5 15 0.40 0.20 0.60 0.33 6 5 28 12 5 17 0.43 0.18 0.61 0.67 7 5 29 14...
Economics Question 1: Question 2: Q FC | VC TC AFC AVC ATC MC 920 475...
Economics
Question 1:
Question 2:
Q FC | VC TC AFC AVC ATC MC 920 475 60 10 What is the AVC at Q=2 equal to? [Type a whole number, no gaps.] FC VC TC AFC AVC ATC MC 920 475 60 What is the ATC at Q=3 equal to? [Type a whole number, no gaps.]
W This table describes the cost structure for a firm producing cakes. Fixed Costs, FC Total...
W This table describes the cost structure for a firm producing cakes. Fixed Costs, FC Total Costs, TC Q (number of cakes produced) 0 1 2 3 Variable Costs, VC 0 Average Variable Costs, AVC Average Total Costs, ATC 40 70 70 4 40 270 5 330 What is the average variable cost (AVC) of producing 4 cakes? $80 $50 $40 $20
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
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...
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...
Question 3.(12 points). Suppose a firm has a short-run cost function: C(q) = 1000 + 2009 - 5q2 + 0.573. What are the fixed cost (F), the variable cost function (VC), the marginal cost (MC), the average cost (AC), the average fixed cost (AFC) and the average variable cost (AVC)?
This table describes the cost structure for a firm producing cakes. Q (number of cakes produced) 0 Fixed Costs, FC Variable Costs, VC 0 Total Costs, TC Average Variable Costs, AVC Average Total Costs, ATC 1 40 70 70 40 2 3 4 5 270 330 What is the average total cost (ATC) of producing 5 cakes? $80 $50 $40 $20
Economics
Question 1:
Question 2:
Q FC | VC TC AFC AVC ATC MC 920 475 60 10 What is the AVC at Q=2 equal to? [Type a whole number, no gaps.] FC VC TC AFC AVC ATC MC 920 475 60 What is the ATC at Q=3 equal to? [Type a whole number, no gaps.]
W This table describes the cost structure for a firm producing cakes. Fixed Costs, FC Total Costs, TC Q (number of cakes produced) 0 1 2 3 Variable Costs, VC 0 Average Variable Costs, AVC Average Total Costs, ATC 40 70 70 4 40 270 5 330 What is the average variable cost (AVC) of producing 4 cakes? $80 $50 $40 $20
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