Homework Answers
Add Answer to:
(10) Total cost increases from £500 to £600 when output increases from 20 to 30 units....
fill out the table question 16 The table below provides cost information for a firm. Use...
fill out the table
question 16
The table below provides cost information for a firm. Use this information to answer the following 3 questions. Quantity MC FC VC 0.5 10 20 30 2 40 13. Is this firm operating in the short run or the long run, and how do you know? a. The firm is operating in the short run because there are fixed costs. b. The firm is operating in the long run because both fixed and variable...
Show work pretty please. 30. Average total cost a. b. c. d. e. increases as output...
Show work pretty please.
30. Average total cost a. b. c. d. e. increases as output increases. decreases as output increases. increases if marginal cost is increasing increases if marginal cost is greater than average total cost. both c and d 31. Amonopolist which suffers losses in the short run will continue to operate as long as total revenue covers fixed cost. raise price in order to eliminate losses exit in the long run if there is no plant size...
Economies of scale occur when: Select one: a. the long-run average cost rises as output increases. ...
Economies of scale occur when: Select one: a. the long-run average cost rises as output increases. b. the marginal cost falls as output increases. c. average fixed costs are constant. d. the long-run average cost falls as output increases
Workers Output Marginal Product Fixed cost Variable cost Total Cost Average Total cost Marginal cost 0...
Workers Output Marginal Product Fixed cost Variable cost Total Cost Average Total cost Marginal cost 0 0 200 0 200 1 20 20 200 100 300 300 5.00 2 50 30 200 200 400 200 3.33 3 90 40 200 300 500 166.67 2.50 4 120 30 200 400 600 150 3.33 5 140 20 200 500 700 140 5.00 6 150 10 200 600 800 133.33 10.00 7 155 5 200 700 900 128.57 20.00 a. Fill in the...
6. Total cost is calculated as a.the sum of total fixed cost and total variable cost....
6. Total cost is calculated as a.the sum of total fixed cost and total variable cost. b.the product of average total cost and price. c. the sum of all the firm's explicit costs. d. the sum of average fixed cost and average variable cost 7. The formula for the total fixed cost is a.TFC = TC + TVC. b.TFC = TVC -TC c.. TFC = TC/TVC. d.TFC = TC -TVC 8.The Lawn Ranger, a landscaping company, has total costs of...
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...
1)Which of the following statements is true? A. Average fixed cost equals total fixed cost divided...
1)Which of the following statements is true? A. Average fixed cost equals total fixed cost divided by total output. B. Average total cost always falls as output increases. C. Average fixed cost equals average total cost plus average variable cost. D. Average variable cost is always greater than average fixed cost. 2) As output increases, average fixed cost A. remains constant. B. always decreases. C. decreases, then increases. D. increases, then decreases. 3) Average total cost minus average variable cost...
37. At what level of output will average variable cost equal average total cost? a. when...
37. At what level of output will average variable cost equal average total cost? a. when marginal cost equals average variable cost b. when marginal cost equals average total cost c. for all levels of output in which average variable cost is falling d. There is no level of output where this occurs, as long as foxed costs are positive. Figure 16-11 rice 50 MC 45 + ATC 40 35+ 30 25 20 15 + 10 MR 10 20 30...
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...
Table 13-15 Output (Q) 0 110 Total Cost (TC) $40 $60 S90 S130 $180 $240 22....
Table 13-15 Output (Q) 0 110 Total Cost (TC) $40 $60 S90 S130 $180 $240 22. Refer to Table 13-15. What is the total fixed cost for this firm? a. $30 b. $20 c. $40 d. $50 23. Refer to Table 13-15. What is average fixed cost when output is 40 units? a. $8.00 b. $3.32 c. $1.00 d. $5.00 24. If long-run average total cost decreases as the quantity of output increases, the firm is experiencing a. fixed costs...
fill out the table
question 16
The table below provides cost information for a firm. Use this information to answer the following 3 questions. Quantity MC FC VC 0.5 10 20 30 2 40 13. Is this firm operating in the short run or the long run, and how do you know? a. The firm is operating in the short run because there are fixed costs. b. The firm is operating in the long run because both fixed and variable...
Show work pretty please.
30. Average total cost a. b. c. d. e. increases as output increases. decreases as output increases. increases if marginal cost is increasing increases if marginal cost is greater than average total cost. both c and d 31. Amonopolist which suffers losses in the short run will continue to operate as long as total revenue covers fixed cost. raise price in order to eliminate losses exit in the long run if there is no plant size...
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...
37. At what level of output will average variable cost equal average total cost? a. when marginal cost equals average variable cost b. when marginal cost equals average total cost c. for all levels of output in which average variable cost is falling d. There is no level of output where this occurs, as long as foxed costs are positive. Figure 16-11 rice 50 MC 45 + ATC 40 35+ 30 25 20 15 + 10 MR 10 20 30...
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...
Table 13-15 Output (Q) 0 110 Total Cost (TC) $40 $60 S90 S130 $180 $240 22. Refer to Table 13-15. What is the total fixed cost for this firm? a. $30 b. $20 c. $40 d. $50 23. Refer to Table 13-15. What is average fixed cost when output is 40 units? a. $8.00 b. $3.32 c. $1.00 d. $5.00 24. If long-run average total cost decreases as the quantity of output increases, the firm is experiencing a. fixed costs...
Most questions answered within 3 hours.
-
Koo argues that the Japanese economy in the 1990s suffered from
a balance sheet recession. What...
asked 9 minutes ago -
Automobile mechanics conduct diagnosis tests on 150 new cars of
particular make and model to determine...
asked 3 minutes ago -
11) Find the proceeds of a 5 year non-interest
bearing note for $6500 discounted 2.5 years...
asked 10 minutes ago -
If
the more comprehensive data is available in MEPS, why does the NHIS
still exist? How...
asked 16 minutes ago -
Required: Prepare the consolidated financial statements of
Griffin Ltd at 30 June 2019.
Griffin Ltd is...
asked 19 minutes ago -
1.How large must the coefficient of static friction be between
the tires and the road if...
asked 34 minutes ago -
What is the time complexity (Big-O) of the following code?
class Main
{
// Recursive...
asked 34 minutes ago -
Economists look at any situation in terms of its component
parts: the people making decisions, the...
asked 40 minutes ago -
What is a population?
Select one:
a. All of the individual organisms belonging to the same...
asked 44 minutes ago -
You have a yeast cell culture with a concentration of 5x10^4
cells/ml. If you dilute this...
asked 48 minutes ago -
In which direction the Reaction goes? Show detailed process.
SeO3 + 2ClO2. + 2H3O <---> Se...
asked 1 hour ago -
Unexposed silver halides are removed from photographic film when
they react with sodium thiosulfate
(Na2S2O3, called...
asked 1 hour ago