Homework Answers
Answer
Option c
the average total cost is increasing
the average total cost is at minimum when the MC=ATC and it is increaseing when the MC>ATC
as
MC=5 and ATC=4.8
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haircut is $5.00 and that the average total 15. If Harriet's Hair Hysteria Salon knows that...
15. When marginal cost is less than average total cost, a. marginal cost must be falling....
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
Need help with C or D Salon de Beauty, a local hair salon, incurred the following...
Need help with C or D
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint Treat Salon utities as Variable cost) Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary Hair dye and perm kits (each dye job or perm uses one kit) $ 1,700 $830 S...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable cost) Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary Hair dye and perm kits (each dye job or perm uses one kit) $ 2,200 $ 810 $ 5,700 $ 3,100 $ 730...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable cost) Salon rent $ 2,200 Salon utilities (electric and water) $ 930 Hairstylists’ salaries $ 5,400 Hairstylists’ commissions (a percentage of sales) $ 3,600 Depreciation on fixtures and equipment $ 800 Shampoo and conditioner (only a small amount is used on each customer) $ 230 Insurance $ 1,850 Advertising $ 1,600 Store manager’s salary $ 3,600 Hair dye and perm kits...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary $ 2.700 $ 990 $ 4,600 S 2,100 $ 840 S 340 $ 1,200 S 2,900 $ 3,300 S 400 Hair dye and perm...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable cost) Salon rent $ 1,800 Salon utilities (electric and water) $ 810 Hairstylists’ salaries $ 5,500 Hairstylists’ commissions (a percentage of sales) $ 3,800 Depreciation on fixtures and equipment $ 810 Shampoo and conditioner (only a small amount is used on each customer) $ 270 Insurance $ 1,050 Advertising $ 2,300 Store manager’s salary $ 3,800 Hair dye and perm kits...
The Beauty Beyond Words Salon uses an activity-based costing system in its beauty salon to determine...
The Beauty Beyond Words Salon uses an activity-based costing system in its beauty salon to determine the cost of services. The salon has determined the costs of services by activity as follows: Activity Hair washing Conditioning Chemical treatment Styling Activity Rate $4.00 $3.50 $25.00 $10.00 Hair Washing Conditioning Styling Haircut Complete style Perm Highlights 1 Chemical Treatment 0 0 i 2 1 2 3 Aw 1 Calculate the cost of services for a haircut. a. $4.00 b. $3.50 c. $7.50...
Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant...
Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant has estimated its monthly cost functions as follows: TC = 2000 + 100 Q + 0.05 Q 2 MC = 100 + 0.1 Q The firm is faced with the following demand: Qd = 1000 - 4 P e. What price should it charge if it were to maximize its revenue? f. At what level of output is the firm's average total cost minimized? Be...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the additio...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the addition of which worker? a. The third worker. b. The fourth worker. c. The fifth worker. d. The sixth worker. Average total cost equals a. 21. change in total costs divided by quantity produced. b. change in total costs divided by change in quantity produced. (fixed costs+ variable costs) divided by quantity produced. c. d. (fixed costs + variable costs) divided by change in...
9. Refer to Figure: 1. The haircut is $16. A. marginal cost of a B. average...
9. Refer to Figure: 1. The haircut is $16. A. marginal cost of a B. average total cost of a C. profit-maximizing price for a D. profit from each 10. Refer to Figure: 1. If Clips Ahoy maximizes profits, its equals $320. 10. A. variable cost B. total cost C. total revenue D. profit MC АТС 16 14 a 8 12 10 f MR 0 20 23 25 30 q Number of haircuts Figure 1: "Clips" Ahoy Barber Shop
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
Need help with C or D
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint Treat Salon utities as Variable cost) Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary Hair dye and perm kits (each dye job or perm uses one kit) $ 1,700 $830 S...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable cost) Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary Hair dye and perm kits (each dye job or perm uses one kit) $ 2,200 $ 810 $ 5,700 $ 3,100 $ 730...
Salon de Beauty, a local hair salon, incurred the following costs last month. (Hint: Treat Salon utilities as Variable Salon rent Salon utilities (electric and water) Hairstylists' salaries Hairstylists' commissions (a percentage of sales) Depreciation on fixtures and equipment Shampoo and conditioner (only a small amount is used on each customer) Insurance Advertising Store manager's salary $ 2.700 $ 990 $ 4,600 S 2,100 $ 840 S 340 $ 1,200 S 2,900 $ 3,300 S 400 Hair dye and perm...
The Beauty Beyond Words Salon uses an activity-based costing system in its beauty salon to determine the cost of services. The salon has determined the costs of services by activity as follows: Activity Hair washing Conditioning Chemical treatment Styling Activity Rate $4.00 $3.50 $25.00 $10.00 Hair Washing Conditioning Styling Haircut Complete style Perm Highlights 1 Chemical Treatment 0 0 i 2 1 2 3 Aw 1 Calculate the cost of services for a haircut. a. $4.00 b. $3.50 c. $7.50...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the addition of which worker? a. The third worker. b. The fourth worker. c. The fifth worker. d. The sixth worker. Average total cost equals a. 21. change in total costs divided by quantity produced. b. change in total costs divided by change in quantity produced. (fixed costs+ variable costs) divided by quantity produced. c. d. (fixed costs + variable costs) divided by change in...
9. Refer to Figure: 1. The haircut is $16. A. marginal cost of a B. average total cost of a C. profit-maximizing price for a D. profit from each 10. Refer to Figure: 1. If Clips Ahoy maximizes profits, its equals $320. 10. A. variable cost B. total cost C. total revenue D. profit MC АТС 16 14 a 8 12 10 f MR 0 20 23 25 30 q Number of haircuts Figure 1: "Clips" Ahoy Barber Shop
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