Homework Answers
The table is provided below. Fixed cost = total cost at Q = 0 is 1000. Variable cost = TC - FC.
| Output | Fixed cost | Variable cost | Total cost | Average Total cost | Average fixed cost | Average variable cost | Marginal cost |
| 0 | 1000 | 0 | 1000 | ||||
| 10 | 1000 | 1000 | 2000 | 200.0 | 100.0 | 100.0 | 100.0 |
| 20 | 1000 | 1500 | 2500 | 125.0 | 50.0 | 75.0 | 50.0 |
| 30 | 1000 | 3000 | 4000 | 133.3 | 33.3 | 100.0 | 150.0 |
| 40 | 1000 | 5000 | 6000 | 150.0 | 25.0 | 125.0 | 200.0 |
| 50 | 1000 | 9000 | 10000 | 200.0 | 20.0 | 180.0 | 400.0 |
| 60 | 1000 | 14000 | 15000 | 250.0 | 16.7 | 233.3 | 500.0 |
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The tot al costs for Morris Industries are summarized in the following table. (2 (3 4)...
The total costs for Morris Industries are summarized in the following table. Based on this information,...
The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for fixed cost, variable cost, average fixed cost, average variable cost, average total cost, and marginal cost. (1) (2) (3) (4) (5) (6) (7) (8) Q FC VC TC AFC AVC ATC MC 0 1,000 10 2,000 20 2,500 30 4,000 40 6,000 50 10,000 60 15,000
Complete the table 3. Fill in the missing entries in the following table (5 pts): AVERAGE...
Complete the table
3. Fill in the missing entries in the following table (5 pts): AVERAGE FIXED COST AVERAGE VARIABLE COST MARGINAL COST OUTPUT AVERAGE TOTAL COST 160 95
Activity 12.4 - Price Calculations - Marginal Analysis Fixed Costs are $10,000 and Variable Cost per...
Activity 12.4 - Price Calculations - Marginal Analysis Fixed Costs are $10,000 and Variable Cost per unit is $10 Price Unit Sales Total Variable Cost Gross Profit Total Revenue -Price X Unit Sales - Variable cost per unit X Unit Sales Total Production Cost - Total Variable Cost+ Fixed Costs - Total Revenue - Total Production Cost $60 500 $50 1,000 $40 1,500 $30 2.000 $20 2,500
Consider the table. Labor Quantity (hours) 0 0 Variable Cost Total Cost Marginal Cost ($) Average...
Consider the table. Labor Quantity (hours) 0 0 Variable Cost Total Cost Marginal Cost ($) Average Cost ($) AVC* ($) 0 40 18 5,000 10,000 15,000 B с F 277.78 50 Fixed Cost ($) 10,000 10,000 10,000 10,000 10,000 10,000 10,000 45 185.19 444.44 222.22 65 250.00 384.62 60 70 10,000 15,000 A 25,000 30,000 230.77 256.41 78 G 25,000 30,000 35,000 40,000 80 D 500.00 E 88 94 397.73 284.09 H 90 425.53 *Average Variable Cost The table shows...
Consider the table. Fixed Cost ($) 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Labor Quantity Variable...
Consider the table. Fixed Cost ($) 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Labor Quantity Variable Cost ($)Total Cost (S)Marginal Cost ($)Average Cost ($)AVC* ($) (hours) 10,000 15,000 40 45 65 78 5,000 10,000 15,000 277.78 222.22 230.77 256.41 284.09 50 185.19 444.44 25,000 30,000 35,000 40,000 250.00 384.62 70 80 90 25,000 30,000 397.73 425.53 500.00 94. *Average Variable Cost The table shows the cost structure of a firm producing computer mainframes Calculate the missing values A through H...
Consider a firm that has just built a plant, which cost $1,000. Each worker costs $5.00...
Consider a firm that has just built a plant, which cost $1,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below. Complete the missing variables. Number of Worker Hours Output Marginal Product Fixed Cost Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost 0 0 -- -- -- 50 400 100 900 150 1300 200 1600 250 1800 300 1900 350 1950
Production Costs Fill out the following table and graph the average variable cost, average total cost,...
Production Costs Fill out the following table and graph the average variable cost, average total cost, and marginal costs Output tables/day Total cost Variable cost Average Total Cost Average variable cost Marginal Cost 0 $50 1 60 2 80 3 115 4 170 5 250 6 350 1) What is the dollar amount of the fixed costs of production? $50 2) For 5 tables, what is the average fixed cost and the average variable cost?
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,...
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost...
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost Variable Cost Marginal Cost Average Total Cost (dollars) Average Variable Cost (dollars) (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) $50 $50 $20 $50 $40 $60 $50 $80 $50 $100
The short-runcost and revenue data of a certain producer are summarized in the table below. 1)...
The short-runcost and revenue data of a certain
producer are summarized in the table below.
1) The short-run cost and revenue data of a certain producer are summarized in the table below. [2 marks] (a) Distinguish between 'short run' and 'long run'. (b) Complete the blanks in the table. + [10 marks] Total Average variable Marginal Average total variable Output Unit Total Average Marginal Total Economic Profit in $m in price in $ (P) Cost Cost Cost Cost Cost revenue...
Complete the table
3. Fill in the missing entries in the following table (5 pts): AVERAGE FIXED COST AVERAGE VARIABLE COST MARGINAL COST OUTPUT AVERAGE TOTAL COST 160 95
Activity 12.4 - Price Calculations - Marginal Analysis Fixed Costs are $10,000 and Variable Cost per unit is $10 Price Unit Sales Total Variable Cost Gross Profit Total Revenue -Price X Unit Sales - Variable cost per unit X Unit Sales Total Production Cost - Total Variable Cost+ Fixed Costs - Total Revenue - Total Production Cost $60 500 $50 1,000 $40 1,500 $30 2.000 $20 2,500
Consider the table. Labor Quantity (hours) 0 0 Variable Cost Total Cost Marginal Cost ($) Average Cost ($) AVC* ($) 0 40 18 5,000 10,000 15,000 B с F 277.78 50 Fixed Cost ($) 10,000 10,000 10,000 10,000 10,000 10,000 10,000 45 185.19 444.44 222.22 65 250.00 384.62 60 70 10,000 15,000 A 25,000 30,000 230.77 256.41 78 G 25,000 30,000 35,000 40,000 80 D 500.00 E 88 94 397.73 284.09 H 90 425.53 *Average Variable Cost The table shows...
Consider the table. Fixed Cost ($) 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Labor Quantity Variable Cost ($)Total Cost (S)Marginal Cost ($)Average Cost ($)AVC* ($) (hours) 10,000 15,000 40 45 65 78 5,000 10,000 15,000 277.78 222.22 230.77 256.41 284.09 50 185.19 444.44 25,000 30,000 35,000 40,000 250.00 384.62 70 80 90 25,000 30,000 397.73 425.53 500.00 94. *Average Variable Cost The table shows the cost structure of a firm producing computer mainframes Calculate the missing values A through H...
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,...
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost Variable Cost Marginal Cost Average Total Cost (dollars) Average Variable Cost (dollars) (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) $50 $50 $20 $50 $40 $60 $50 $80 $50 $100
The short-runcost and revenue data of a certain
producer are summarized in the table below.
1) The short-run cost and revenue data of a certain producer are summarized in the table below. [2 marks] (a) Distinguish between 'short run' and 'long run'. (b) Complete the blanks in the table. + [10 marks] Total Average variable Marginal Average total variable Output Unit Total Average Marginal Total Economic Profit in $m in price in $ (P) Cost Cost Cost Cost Cost revenue...
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