ZuoTi.Pro
Question

D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, an

Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and

Question 9 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and

1 pts Question 10 Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and

U Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of X? OUTPUT

Question 12 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of Y? OUTPUT(Q)

Question 13 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of Z? OUTPUT (Q

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

7.Ans: $66

Explanation:

At the level of output 6 units;

Q = 6

AVC = $11

Total variable cost = AVC * Q = $11 * 6 = $66

8.Ans: $72

Explanation:

At the level of output 9 units;

Q = 9

ATC = $8

Total variable cost = ATC * Q = $8 * 9 = $72

9.Ans: $6

Explanation:

At the level of output 7 units;

Q = 7

ATC = $12

AVC = $6

ATC = AFC + AVC

Average Fixed cost ( AFC ) = ATC - AVC = $12 - $6 = $6

10.Ans: $24

Explanation:

At the level of output 6 units;

Q = 6

AVC = $11

ATC = $15

Total variable cost = AVC * Q = $11 * 6 = $66

Total cost = ATC * Q = $15 * 6 = $90

Total cost = Total fixed cost + Total variable cos = $90 - $66 = $24

11.Ans: $50

Explanation:

TC = FC + VC = 100 + 400 =$500

ATC = TC / Q = $500 / 10 = $50

OUTPUT ( Q) FC VC TC AVC ATC MC
10 100 400 500 50
11 100 595 Y
12 100 Z 125

12.Ans: $90

Explanation:

TC = FC + VC

VC = TC - FC = 1490 - 500 = $990

AVC =VC / Q = $990 / 11 = $90

OUTPUT ( Q) FC VC TC AVC ATC MC
10 500 800 1300 X
11 500 990 1490 90
12 500 Z 250

13.Ans: $60

Explanation:

TC = FC + VC

MC = Change in TC / Change in Q

ATC = TC / Q

OUTPUT ( Q) FC VC TC AVC ATC MC
10 100 400 X
11 100 495 595 Y
12 100 720 60 125
0 0
Add a comment
Know the answer?
Add Answer to:
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC,...

    Question 11 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of X? OUTPUT(Q) FC VC TC AVC ATC MC 10 200 400 х 11 662 Y 12 82 N $40 $600 $6000 $60 Question 10 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the fixed cost when...

  • Question 1 1 pts A business owner makes 50 items by hand in 10 hours. She...

    Question 1 1 pts A business owner makes 50 items by hand in 10 hours. She could have earned $12 an hour working for someone else. If each item sells for $5 and the explicit costs total $80, economic profit for 50 items is: O $50 O $170 $100 O $250 Question 2 1 pts A business owner makes 50 items by hand in 10 hours. She could have earned $12 an hour working for someone else. If each item...

  • Question 13 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC,...

    Question 13 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of Z? OUTPUT (Q) FC VC TC AVC ATC MC 10 500 800 X 11 1490 Y 12 250 N $45 $450 $145 $3000 Question 12 1 pts Refer to the table below that shows Output, FC, VC, TC, AVC, ATC, and MC. What is the value of Y? OUTPUT(Q) FC VC TC AVC ATC MC 10...

  • Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average...

    Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average fixed cost AVC: Average variable cost ATC: Average total cost lormal text - Times New... - 12 B I VA G E A E 1 E- Labor Week 6 Assignment: Production Costs 20 Points) Output MPL FC VC TC MC AFC AVC ATC (Q) 0 25 WN 25 50 75 100 13 25 15 F 16 25 125 1. Complete the table above. (4...

  • Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of...

    Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...

  • Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital a...

    Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital are used in the short run. Labor costs $20 per unit. 7. Total Cost Average Average Marginal Variable Cost |(MC) Fixed Units of Units of Variable Average Fixed Labor (L) Cost (FC) Cost (VC) (TC) Total Cost Output (ATC) (Q) Cost Cost (AFC) (AVC) 0 0 1 2 2 4 3 6 4 8 10

  • Quantity Total Cost Q Variable Marginal Cost Marginal Cost Cost MC MC VC (calculated (calculated using...

    Quantity Total Cost Q Variable Marginal Cost Marginal Cost Cost MC MC VC (calculated (calculated using TC) using VC) TC O dozen pizzas $300 $0 ܝܕ 350 50 390 90 N 3 420 120 4 450 150 5 490 190 6 540 240 3 420 120 4 450 150 5 490 190 6 540 240 What is the pizzeria's fixed cost? Note: Recall that TC = FC + VC $200 $300 $400 cannot be determined Construct a table in which...

  • 3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q-...

    3) Suppose the cost curve for a firm producing sneakers is TC 1010 q - 4q- + 3.1 (10 points) What are the firm's fixed costs, variable costs, average costs, average fixed cost, average variable costs, and marginal costs? 3.2 (10 points) Graph all 7 cost functions (TC, VC, FC, AC, AVC, AFC, MC) for quantities q 0 to q 10. You can use the Excel program to generate these graphs, plot C, VC, and FC in one graph and...

  • The graph below shows a monopolist's demand (D), marginal revenue (MR), marginal cost (MC), and average...

    The graph below shows a monopolist's demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves. Management wants to adjust the production output quantity to maximize the firm's profits. What quantity should the firm aim for? Give your answer by dragging the Q line to a new position to mark the quantity at which profit is as large as possible. Price and cost ATC MC MR Quantity

  • The graph above shows a typical graph of several per unit cost measures. Refer to the graph to answer the f...

    The graph above shows a typical graph of several per unit cost measures. Refer to the graph to answer the following qu • The curve labeled Dis most likely the • curve. • The curve labeled C is most likely the curve. • The curve labeled B is most likely the curve. • The curve labeled A is most likely the curve. In general, if • curve is above • curve then ATC curve must be decreasing at that quantity...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT