Answer 7 - Option A
$ 23
MC at unit 5 = 150-127
= $ 23
Answer 8 - Option C
$ 250
Total cost of 5 units = TFC + TVC
= 100 + 150
= $ 250
Answer 9 - Option C
$ 208
Total cost of 3 units = 100 + 108
= $ 208
Answer 10 - Option C
$ 36
Average variable cost = TVC / No. Of units produced
= 108 /3
= $ 36
Answer 11 - Option A
$ 100
The fixed cost does not vary with the quantity of output produced . Hence it will remain same at every level of output i.e $ 100.
Answer 12 - Option A
Falling
Average variable cost is TVC / output.
Hence by this formula the AVC in sequence of output comes out to be 50,42,36,31.75,30.
Hence the average variable cost in the table are falling.
Exhibit 1-Cost Schedule for Firm X TVC Quantity TFC $0 $100 50 1 100 84 2...
1. Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable Cost (TVC) Average Variable Cost (AVC) Total Cost (TC) Average Total Cost (ATC) Marginal Cost (MC) 0 $200 $0 $200 1 $200 (A) 30 (H) 230 (M) (S) 2 $200 (B) 50 (I) 250 (N) (T) 3 $200 (C) (F) $26.67 (K) (P) (U) 4 $200 (D) 130 (J) 330 (Q) (V) 5 $200 (E) (G) $40 (L) (R) (W) Refer to Exhibit...
Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable Cost (TVC) Average Variable Cost (AVC) Total Cost (TC) Average Total Cost (ATC) Marginal Cost (MC) 0 $200 $0 $200 1 $200 (A) 30 (H) 230 (M) (S) 2 $200 (B) 50 (I) 250 (N) (T) 3 $200 (C) (F) $26.67 (K) (P) (U) 4 $200 (D) 130 (J) 330 (Q) (V) 5 $200 (E) (G) $40 (L) (R) (W) Refer to Exhibit 22-13. What...
MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925 $75 100 Refer to an above table. What is the average variable cost of producing three units of the output? $291.67 o $125 $100 $166.67 问题3 29 问题3 AVC ATC MC AFC Output TVC TC TFC $500 $200 $800 2 $75 $875 4 $925 5 100 $75 Which of the following is correct for this firm with the cost structure presented in the table...
1. Consider the following hypothetical example Output Price P Total Fixed Cost TFC Total Cost TC Total Variable Cost TVC Average Total Cost ATC Marginal Cost MC 0 100 100 90 1 2 130 158 80 3 183 70 60 4 5 6 7 50 40 30 208 253 308 368 8 20 468 A. Complete the missing figures B. Plot ATC C. Plot AVC D. Plot MC
q TFC TVC TC MC AVC ATC 0 $100 $0 $100 -- -- -- 1 100 40 140 40 40 140 2 100 60 160 20 30 80 3 100 90 190 30 30 63.33 4 100 124 224 34 31 56 5 100 180 280 56 36 56 6 100 264 364 84 44 60.67 7 100 372 472 108 53.14 67.42 Refer to Table 9.2. If the market price is $34 and the firm produces 4 units of...
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
Price Quantity TFC TVC $25 $10 25 20 25 50 25 60 $5 10 15 20 5 16. Refer to the table above: At what output on the table would the perfectly competitive firm cover all of its costs and earn only normal profits? 17. The following table applies to the questions below: Output Total cost Total Variable Cost Total Fix cost Marginal Cost 0 $400 200 2 $900 a. When nothing is produced, the firm's total fixed cost and...
Question 2A: Quantity TC TVC TFC ATC AVC MC 0 30 1 40 2 50 3 30 4 30 5 40 6 260 7 300 The respective cost values when the firm's output is 7, are: 360; 300; 30; 57.1; 42.9; 100. 330; 300; 30; 33; 30; 70. 330; 300; 30; 47.1; 42.9; 70. 260; 300; 30; 43.3; 42.9; 0.
Consider the following hypothetical example of a boat building firm. The total fixed cost is £100, irrespective of how many boats are produced. Total variable costs (TVC) will increase as output increases. Output Total variable cost(£) 50 2 80 100 - 4 Total fixed cost (£) 100 100 100 100 100 100 100 100 Total cost(£) 150 180 200 210 250 320 450 740 110 150 220 350 640 5 a. Plot the Total Cost (TC), Total Variable Cost (TVC),...
Labor Quantity Price MPI Wage Per Unit Marginal Rate Product of Labor 0 $100 $50 5 $105 $50 12 $10 7 $50 30 $10 18 $50 43 $10 13 $50 52 $109 $50 60 $108 $50 64 $10 4 $50 OU UN-O TFC TVC TC M C AVC ATC Marginal Total Total Total Total Marginal Average Average Revenue Revenu Fixed Variable Cost Cost Variable Total Cost Cost Cost Cost 2000 200 - - - $100 200 50 250 10 10...