Homework Answers
Answer
Option 1
AVC=TVC/Q
AVC(4)=5400/4=1350
the AVC is $1350
=======
Answer
Option 3
ATC=TC/Q
TC=TFC+TVC
TC(4)=1000+5400=6400
ATC=6400/4=1600
Add Answer to:
Use the table below to answer the following question. Units of Total Total Fixed Variable Cost...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed cost of a perfectly competitive firm. The market equilibrium price is not given explicitly but can be deduced from Table 4. Output lulewin Total revenue $1,500 $2,000 $3,000 $4,000 $5,000 Total variable cost $1,500 $2,000 $2,600 $3,900 $5,000 Total fixed cost $500 $500 $500 $500 $500 a. What level of output should the firm produce? Show your work. (15 points) b. Should it shut...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500 1,000 500 F D E A B C 20 40 60 80 100 Quantity of wheat (bushels) Points on Graph Quantity of Labor (workers), L. Quantity of Wheat (bushels). Variable ariable Cost. VC Fixed Cost, FC $400 400 400 400 DOWN Total Cost, TC = FC + VC 400 600 800 1.000 1,200 1.400 1,600 1.800 2.000 400 400 12) (Figure and Table: Variable,...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input Variable Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) $500 $0 $500 $200 $500 $400 $500 $600 $500 $800 $500 $1000 Refer to Exhibit 21-3. The average variable cost of producing 45 units of output is a. S2.44 (E) b. S1.60. c. $2.00. d. S1.33. e. $13.33.
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Aver...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
Use the table below to answer the following question.
Use the table below to answer the following question.What is the marginal cost of producing the third unit of output? What is the average variable cost at an output level of three units? What is the average total cost at an output level of three units?
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. OutputTotal Cost Average Total Cost Average Variable Cost Average Fixed Total Va
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. OutputTotal Cost Average Total Cost Average Variable Cost Average Fixed Total Variable Cost Marginal Cost $ 1 $ $ 3,150 4 1 2 3 5 6 7 8,588 11,600 8 b. What is the value of total fixed cost? $ . What is the most productive level of output? units ....
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average...
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average variable cost AFC = Average fixed cost AVC is minimized at a quantity of 250 [31] At 250 units of output, total cost AVC equals: A. 1000 B. 1500 C. 2500 D. 4000 AFC [32] At 250 units of output, marginal cost equals: 250 [33] Total fixed cost equals: A 1500 B. 1000 C. 4000 D. unable to determine, since not enough information provided
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost...
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost Average Variable Cost NA NA 15 8 a) Is this a short run or long run information on cost? Why? b) If the price of the good produced is currently 17, what level of output meets the profit maximizing condition? c) Draw a ligure illustrating the average cost the average variable cost, and the marginal cost curves based on the information in this table.
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0...
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed cost of a perfectly competitive firm. The market equilibrium price is not given explicitly but can be deduced from Table 4. Output lulewin Total revenue $1,500 $2,000 $3,000 $4,000 $5,000 Total variable cost $1,500 $2,000 $2,600 $3,900 $5,000 Total fixed cost $500 $500 $500 $500 $500 a. What level of output should the firm produce? Show your work. (15 points) b. Should it shut...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500 1,000 500 F D E A B C 20 40 60 80 100 Quantity of wheat (bushels) Points on Graph Quantity of Labor (workers), L. Quantity of Wheat (bushels). Variable ariable Cost. VC Fixed Cost, FC $400 400 400 400 DOWN Total Cost, TC = FC + VC 400 600 800 1.000 1,200 1.400 1,600 1.800 2.000 400 400 12) (Figure and Table: Variable,...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input Variable Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) $500 $0 $500 $200 $500 $400 $500 $600 $500 $800 $500 $1000 Refer to Exhibit 21-3. The average variable cost of producing 45 units of output is a. S2.44 (E) b. S1.60. c. $2.00. d. S1.33. e. $13.33.
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
Use the table below to answer the following question.What is the marginal cost of producing the third unit of output? What is the average variable cost at an output level of three units? What is the average total cost at an output level of three units?
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average variable cost AFC = Average fixed cost AVC is minimized at a quantity of 250 [31] At 250 units of output, total cost AVC equals: A. 1000 B. 1500 C. 2500 D. 4000 AFC [32] At 250 units of output, marginal cost equals: 250 [33] Total fixed cost equals: A 1500 B. 1000 C. 4000 D. unable to determine, since not enough information provided
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost Average Variable Cost NA NA 15 8 a) Is this a short run or long run information on cost? Why? b) If the price of the good produced is currently 17, what level of output meets the profit maximizing condition? c) Draw a ligure illustrating the average cost the average variable cost, and the marginal cost curves based on the information in this table.
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
Most questions answered within 3 hours.
-
You are attempting to calculate a firm’s free cash flow to
equity. You know the following...
asked 48 minutes ago -
the following reaction occurs in a balloon containing
N2O2 gas
N2O4(g)=2NO2(g)
will the volume of the...
asked 1 hour ago -
answer the questions throughout this program
public class Day implements Comparable {
Private Boolean atWork;...
asked 1 hour ago -
This is C++ code for parking fee management program
#include <iostream>
#include <iomanip>
using namespace std;...
asked 1 hour ago -
The free energy change for the following reaction at 25 °C, when
[Sn2+] = 1.17 M...
asked 3 hours ago -
An MNE is this kind of industry when competition in one country
is essentially independent of...
asked 4 hours ago -
. For this set of questions, determine what
proportion of a normal distribution is located betweeneach...
asked 5 hours ago -
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 6 hours ago -
MATLAB HW 11 problem using Switch Case and Input commands
Write a script file that calculates...
asked 6 hours ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 6 hours ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 7 hours ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 7 hours ago