The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your...
The table below shows the cost of producing model vintage cars for collectors.
Instructions: Enter your answers as a whole number.
a. Complete the marginal cost column in the table.
Vintage Model Car Production Costs
| Output | Total Fixed Cost (dollars) | Total Variable Cost (dollars) | Total Cost (dollars) | Marginal Cost (dollars) |
| 0 | $1,000 | $0 | $1,000 | — |
| 1 | 1,000 | 600 | 1,600 | $ |
| 2 | 1,000 | 1,350 | 2,350 | |
| 3 | 1,000 | 2,000 | 3,000 | |
| 4 | 1,000 | 3,250 | 4,250 | |
| 5 | 1,000 | 4,800 | 5,800 |
b. What is the total cost of producing 4 vintage model cars?
$
c. What is the marginal cost of producing the 4th vintage model car?
$
Homework Answers
Add Answer to:
The table below shows the cost of producing model vintage cars
for collectors.
Instructions: Enter your...
The table below shows the monthly cost of producing vintage model cars for collectors for quantities...
The table below shows the monthly cost of producing vintage model cars for collectors for quantities 0, 100, 250, and 400. Find the average total cost at quantity 100 Round your answers to one decimal place. Output Total Fixed Cost (dollars) Total Variable Cost (dollars) Total Cost (dollars) Average Average Average Fixed Variable Cost Total Cost Cost (dollars) (dollars) (dollars) $1,104 $1,104 1,104 $0 5,044 686 1,104 1,104 400 1,983
Short-Run Relationships - Fixed, Variable, and Total Costs Exercise 1 Marcel leases a garage. He must...
Short-Run Relationships - Fixed, Variable, and Total Costs Exercise 1 Marcel leases a garage. He must pay $500 every week for his lease regardless of how many cars he fores. The number of cars hef each week depends on how many mechanics he hires. The table below summarizes his cost information Instructions: Enter your answers as a whole number. a. Fill in the missing values for total fixed cost, total variable cost, and total cost in the table below. Marcel's...
You are given the following information on a firm's output and cost. Answer the questions below...
You are given the following information on a firm's output and cost. Answer the questions below based on the table. Total Product Fixed Cost Variable Costs Total Costs 0 $1,000 $0 $ 1 $1,000 $25 $ 2 $1,000 $75 $ 3 $1,000 $150 $ 4 $1,000 $275 $ 5 $1,000 $475 $ 6 $1,000 $775 $ 7 $1,000 $1,225 $ 8 $1,000 $1,925 $ 9 $1,000 $2,925 $ 10 $1,000 $4,375 $ Part A: Complete the Total Cost Column in...
For the firm described in the table below, what is the marginal cost of producing the...
For the firm described in the table below, what is the marginal cost of producing the 4th flashlight? Variable Cost ($) Quantity of Fixed Cost Flashlights ($) 0 20 20 2 20 - 15 2. 25 3 20 37 4 20 52 $12 $20 $15 ☺ ☺ ☺ $37 $52 If the firm described in the table below produces 3 flashlights, what is the average cost per unit, in dollars? Variable Cost ($) Quantity of Fixed Cost Flashlights 0 20...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Revenue Marginal Cost Marginal Revenue Total Cost Quantity Price 0 $ 31 0 50 100 S 25 29 725 2 30 810 108 2 17 35 25 118 13 23 40 920 133 9 45 21 945 50 19 950 193 Instructions: Enter your answers as whole...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity Total Cost Marginal Cost Marginal Revenue Price $31 29 Total Revenue $0 725 810 $50 100 25 30 27 107.5 1.5 L 17 35 25 117.5 13 40 132.5 9 23 21 19 920 945 45 50 950 192.5 7 Instructions: Enter your answers as whole numbers....
The table below shows All's monthly costs of producing wheat. Suppose the current market price of...
The table below shows All's monthly costs of producing wheat. Suppose the current market price of wheat is $84.70 per bushel. ATC (dollars) MC (dollars) All's Wheat Production Costs Quantity AVC (bushels) (dollars) 0 - 500 $19.70 1,000 16.70 1,500 14.70 2,000 19.70 2.500 24.70 3,000 29.70 3,500 34.70 4,000 39.70 4,500 44.70 5,000 49.70 $44.70 29.70 28.03 29.70 32.70 36.37 40.41 44.70 49.14 53.70 4.70 14.70 22.70 34.70 44.70 54.70 64.70 74.70 84.70 94.70 Instructions: Round your answers to...
Help Save&Exit Check my The table below shows cost and revenue information for Choco Lovers, a...
Help Save&Exit Check my The table below shows cost and revenue information for Choco Lovers, a perfectly competitive firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table Instructions: Round your answers to 2 decimal places 10 Choco Lovers Costs and Revenue TC ATC of Gift Boxes) 60.00 67.50 12.00 675 5 17 2.00 10 15 20 ferences 2.00 3.00 5.00 7.00 92 50 25117.50 4.70 5.08 30 152 50 Instructions Enter your answers below...
The table below shows the monthly cost of producing vintage model cars for collectors for quantities 0, 100, 250, and 400. Find the average total cost at quantity 100 Round your answers to one decimal place. Output Total Fixed Cost (dollars) Total Variable Cost (dollars) Total Cost (dollars) Average Average Average Fixed Variable Cost Total Cost Cost (dollars) (dollars) (dollars) $1,104 $1,104 1,104 $0 5,044 686 1,104 1,104 400 1,983
Short-Run Relationships - Fixed, Variable, and Total Costs Exercise 1 Marcel leases a garage. He must pay $500 every week for his lease regardless of how many cars he fores. The number of cars hef each week depends on how many mechanics he hires. The table below summarizes his cost information Instructions: Enter your answers as a whole number. a. Fill in the missing values for total fixed cost, total variable cost, and total cost in the table below. Marcel's...
For the firm described in the table below, what is the marginal cost of producing the 4th flashlight? Variable Cost ($) Quantity of Fixed Cost Flashlights ($) 0 20 20 2 20 - 15 2. 25 3 20 37 4 20 52 $12 $20 $15 ☺ ☺ ☺ $37 $52 If the firm described in the table below produces 3 flashlights, what is the average cost per unit, in dollars? Variable Cost ($) Quantity of Fixed Cost Flashlights 0 20...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Revenue Marginal Cost Marginal Revenue Total Cost Quantity Price 0 $ 31 0 50 100 S 25 29 725 2 30 810 108 2 17 35 25 118 13 23 40 920 133 9 45 21 945 50 19 950 193 Instructions: Enter your answers as whole...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity Total Cost Marginal Cost Marginal Revenue Price $31 29 Total Revenue $0 725 810 $50 100 25 30 27 107.5 1.5 L 17 35 25 117.5 13 40 132.5 9 23 21 19 920 945 45 50 950 192.5 7 Instructions: Enter your answers as whole numbers....
The table below shows All's monthly costs of producing wheat. Suppose the current market price of wheat is $84.70 per bushel. ATC (dollars) MC (dollars) All's Wheat Production Costs Quantity AVC (bushels) (dollars) 0 - 500 $19.70 1,000 16.70 1,500 14.70 2,000 19.70 2.500 24.70 3,000 29.70 3,500 34.70 4,000 39.70 4,500 44.70 5,000 49.70 $44.70 29.70 28.03 29.70 32.70 36.37 40.41 44.70 49.14 53.70 4.70 14.70 22.70 34.70 44.70 54.70 64.70 74.70 84.70 94.70 Instructions: Round your answers to...
Help Save&Exit Check my The table below shows cost and revenue information for Choco Lovers, a perfectly competitive firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table Instructions: Round your answers to 2 decimal places 10 Choco Lovers Costs and Revenue TC ATC of Gift Boxes) 60.00 67.50 12.00 675 5 17 2.00 10 15 20 ferences 2.00 3.00 5.00 7.00 92 50 25117.50 4.70 5.08 30 152 50 Instructions Enter your answers below...
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 14 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 45 minutes ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 4 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 4 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago