Homework Answers
Add Answer to:
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average...
pogu u (a) Calculate the fixed cost (FC), average fixed cost (AFC), average variable cost (AVC),...
pogu u (a) Calculate the fixed cost (FC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC) and marginal cost (MC) from the table below. Units of output Total cost AFC ATC FC 50 AVC 0 0 MC 0 0 80 128 180 280 405 (b) Draw graphs to plot these cost curves against output. (c) Explain what these shapes tell us about returns and efficiency.
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1...
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1 Figure 1 1. In Figure 1, at output 0B, line segment HK equals A. average fixed cost. B. fixed cost. C. average total cost. D. marginal cost. E. total cost. NC 2. According to Figure 1, the marginal cost curve cuts the average total cost curve at output 3. Average total cost is minimized in Figure 1when output equals 4. Marginal cost is minimized...
Use the graph below to fill in the blanks. ATC МС AVC 15 14 11 10...
Use the graph below to fill in the blanks. ATC МС AVC 15 14 11 10 Quantity 150 250 0 $ 1 If output is 150 units, then average total cost (ATC) 2 If output is 150 units, then average variable cost (AVC) S $ If output is 150 units, then average fixed cost (AFC) 3. $ If output is 150 units, then total cost (TC) 4. If output is 150 units, then total variable cost (TVC) S 5. 6,...
The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC)...
The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm. Figure 1.1 Cost (dollars) -AVC AFC | 1 2 3 4 5 6 7 Quantity Using Figure 1.1 determine the average total cost of producing the first unit of the output. O $10 $20 $30 O $40 $50
TOT D. Construct different cost curves Refer to the factors causing a shift of cost curves...
TOT D. Construct different cost curves Refer to the factors causing a shift of cost curves on P.26 of lecture notes (topic 6), you are required to draw the average total cost curves (ATC), average variable cost curves (AVC), and marginal cost curves (MC) of a firm to indicate the possible impacts of the given changes Given that there is an increase in rent. (Draft work) Diagram Group discussion Given that there is an increase in wage rate. (Draft work)...
Question 2 [6 points] Afirm's average cost curves are shown below 120 AFC 105 ATC 90...
Question 2 [6 points] Afirm's average cost curves are shown below 120 AFC 105 ATC 90 75- 60 45 30 15 0 6 Labour (workers per day) a) The marginal cost curve first declines and then increases because of Constant marginal revenue The decline in the gap between ATC and AVC as output expands Increasing. then diminishing, marginal utility Increasing, then diminishing. marginal retuns b) The vertical distance between ATC and AVC measures Average fixed oost Economic profit per unit...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x x, E 12pt B I UA Paragraph T
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x...
also need avc at the bottom for 750 VC=0.890.67 If the fixed cost (F) is $2400...
also need avc at the bottom for 750
VC=0.890.67 If the fixed cost (F) is $2400 and the firm produces 700 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs of the firm increases its output to 750? Assuming the firm produces 700 units, the variable cost of production...
UH Answer the following questions using the cost curves for the price-taking firm shown in the...
UH Answer the following questions using the cost curves for the price-taking firm shown in the figure below. Is SMC Price and costs (dollars) TITTTTT ATC AVC LILLO 800 1.000 1.200 200 400 600 Quantity 1. If the price is $70 per unit of output, draw the marginal revenue curve and answer the following: a. How many units should be produced at this price? Explain why? b. Calculate: ATC, AVC, and AFC. c. Calculate the total cost of production at...
Output Total Cost Fixed Cost Variable Cost AFC AVC ATC MC 0 50 1 130 2...
Output Total Cost Fixed Cost Variable Cost AFC AVC ATC MC 0 50 1 130 2 190 3 230 4 250 5 310 6 400 7 540 8 800 9 1200 The market supply curve is the sum of the marginal cost curves of all the firms in the market. The market supply of a competitive industry is determined by:
pogu u (a) Calculate the fixed cost (FC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC) and marginal cost (MC) from the table below. Units of output Total cost AFC ATC FC 50 AVC 0 0 MC 0 0 80 128 180 280 405 (b) Draw graphs to plot these cost curves against output. (c) Explain what these shapes tell us about returns and efficiency.
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1 Figure 1 1. In Figure 1, at output 0B, line segment HK equals A. average fixed cost. B. fixed cost. C. average total cost. D. marginal cost. E. total cost. NC 2. According to Figure 1, the marginal cost curve cuts the average total cost curve at output 3. Average total cost is minimized in Figure 1when output equals 4. Marginal cost is minimized...
Use the graph below to fill in the blanks. ATC МС AVC 15 14 11 10 Quantity 150 250 0 $ 1 If output is 150 units, then average total cost (ATC) 2 If output is 150 units, then average variable cost (AVC) S $ If output is 150 units, then average fixed cost (AFC) 3. $ If output is 150 units, then total cost (TC) 4. If output is 150 units, then total variable cost (TVC) S 5. 6,...
The figure given below shows the average fixed cost (AFC) and the average variable cost (AVC) curves of a competitive firm. Figure 1.1 Cost (dollars) -AVC AFC | 1 2 3 4 5 6 7 Quantity Using Figure 1.1 determine the average total cost of producing the first unit of the output. O $10 $20 $30 O $40 $50
TOT D. Construct different cost curves Refer to the factors causing a shift of cost curves on P.26 of lecture notes (topic 6), you are required to draw the average total cost curves (ATC), average variable cost curves (AVC), and marginal cost curves (MC) of a firm to indicate the possible impacts of the given changes Given that there is an increase in rent. (Draft work) Diagram Group discussion Given that there is an increase in wage rate. (Draft work)...
Question 2 [6 points] Afirm's average cost curves are shown below 120 AFC 105 ATC 90 75- 60 45 30 15 0 6 Labour (workers per day) a) The marginal cost curve first declines and then increases because of Constant marginal revenue The decline in the gap between ATC and AVC as output expands Increasing. then diminishing, marginal utility Increasing, then diminishing. marginal retuns b) The vertical distance between ATC and AVC measures Average fixed oost Economic profit per unit...
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x x, E 12pt B I UA Paragraph T
D Question 19 0.5 pts Average & Marginal Cost 120 100 MC 80 AC 60 AVC 40 20 AFC 0- Output Briefly, explain the reason(s) for thè shape of the above cost curves HTMLEditor A-IEE x...
also need avc at the bottom for 750
VC=0.890.67 If the fixed cost (F) is $2400 and the firm produces 700 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs of the firm increases its output to 750? Assuming the firm produces 700 units, the variable cost of production...
UH Answer the following questions using the cost curves for the price-taking firm shown in the figure below. Is SMC Price and costs (dollars) TITTTTT ATC AVC LILLO 800 1.000 1.200 200 400 600 Quantity 1. If the price is $70 per unit of output, draw the marginal revenue curve and answer the following: a. How many units should be produced at this price? Explain why? b. Calculate: ATC, AVC, and AFC. c. Calculate the total cost of production at...
Most questions answered within 3 hours.
-
This java code won't run and I can't figure out the problem with
it. Please help...
asked 5 minutes ago -
Trace the following recursive methods:
a) isPal with the string “abccda”
b) isAnBn with the string...
asked 1 hour ago -
1. Which of the following is false about photosynthesis?
A. ATP is the molecule used to...
asked 1 hour ago -
A simple random sample of size n=64 is obtained from a
population with a mean of...
asked 2 hours ago -
(2 dimensions, 1 object, 2 accelerations)
1) A projectile is thrown with a wind. The wind...
asked 3 hours ago -
Brian makes $34,100 per year. How much can Brian expect to
contribute to FICA taxes in...
asked 4 hours ago -
To buy a new house you must borrow $155,000. To do this you take
out a...
asked 4 hours ago -
Spacely Sprockets is evaluating the construction of a new plant
on land the company purchased for...
asked 5 hours ago -
1. Consider a linear regression model of y on K regressors and
an intercept.
(i) Describe...
asked 5 hours ago -
Enter a balanced equation for the reaction between hydrochloric
acid and sodium sulfite.
Express your answer...
asked 5 hours ago -
Give a regular expression describing the language
{x | x ∈ Σ* and x does not...
asked 5 hours ago -
Masses of 1.0 kg, 2.0 kg, and 3.0 kg are each separately subject
to a net...
asked 5 hours ago