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see When completed, the Worksheet table below describes the short run cost behaviour of ALEX, a...
irm in the short run wing table. Short Run Cost Chapter 9 output TFC TVC ATC...
irm in the short run wing table. Short Run Cost Chapter 9 output TFC TVC ATC TC AFC AVC MC 1 50.00 $ 86.00 50 OD 146.00 50-00 150.00 4 106.00 170.00 3000 $ 6 147.00 7 182.00 280.00 8 50.00 340.00 50-DD 9 410.00 360.00 $ 50.00 10 50 0D 440.00 $ 11
Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable...
Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). B) Graph the average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and the marginal cost (MC) curves on one graph and TFC curve, TVC cost curve, and TC curve on another graph. Quantity Produced Total Cost 0 $ 120 1 135 2 148 3 159 ...
graph the short-run average cost curves. explain how you got each. (total revenue, Marg rev, MPL,...
graph the short-run average cost curves.
explain how you got each. (total revenue, Marg rev, MPL, TFC,
TVC, TC, AFC, AVC, ATC)
bakers (L) cakes (0) Total Revenue Marg Rev MPL TFC TVC T C AFC AVC ATC MC P(cake) Fixed Fixed cost wage $6 each capital $200 $50 per baker 20 38 56 73 104 133 158 191 219 250 277 296
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete...
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
Consider a day for a local junk removal company. The inputs the company uses to haul...
Consider a day for a local junk removal company. The inputs the company uses to haul junk are two employees each paid an hourly wage of $15 per hour and a moving truck, which costs $100 (splitting the cost of ownership over periods). Each hauling job takes 1 hour. Are labor hours a fixed or variable input? Explain. Is the moving truck a fixed or variable input? Explain. Determine the total cost (TC), total fixed cost (TFC), total variable cost...
How to calculate the Total Cost (TC), Average Fixed Cost (AFC), Average Total Cost (ATC), and...
How to calculate the Total Cost (TC), Average Fixed Cost
(AFC), Average Total Cost (ATC), and Marginal Cost (MC)?
1. The schedule below gives the Total Variable Cost (TVC) for producing various quantities of smurfs (smurfs are an input into cat food production). The Total Fixed Costs (TFC) is $100. Calculate the following and fill in the blanks: Total Cost (TC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). Cost Schedule for...
(Production & Cost) The incomplete table below gives the total, average, and marginal cost curves for...
(Production & Cost) The incomplete table below gives the total, average, and marginal cost curves for a firm. Use the cost function definitions to complete the table. Q TC TVC TFC MC ATC AVC AFC 10 17 2 339 7 15 12 6100 2
2. Use the following table to answer the questions listed below. Output TC TFC...
2. Use the following table to answer the questions listed below. Output TC TFC TVC AFC AVC ATC MC 0 $100 $ $ $ $ $ $ 1 $150 $ $ $ $ $ $ 2 $225 $ $ $ $ $ $ 3 $230 $ $ $ $ $ $ 4 $300 $ $ ...
3. The following table gives the short-run and long-run total cost for various levels of output...
3. The following table gives the short-run and long-run total cost for various levels of output of Consolidated National Aeme, Inc. Q TC: TC TFC TVC AFC AVC MC 0 0 350 300 400 400 435 465 465 495 505 5 560 560 6 600 635 7 700 735 a. Which column, TCi or TC2, represents a long-run total cost, and which represents a short-run total cost? How do you know? b. For each level of output, find short-run TFC,...
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,...
irm in the short run wing table. Short Run Cost Chapter 9 output TFC TVC ATC TC AFC AVC MC 1 50.00 $ 86.00 50 OD 146.00 50-00 150.00 4 106.00 170.00 3000 $ 6 147.00 7 182.00 280.00 8 50.00 340.00 50-DD 9 410.00 360.00 $ 50.00 10 50 0D 440.00 $ 11
graph the short-run average cost curves.
explain how you got each. (total revenue, Marg rev, MPL, TFC,
TVC, TC, AFC, AVC, ATC)
bakers (L) cakes (0) Total Revenue Marg Rev MPL TFC TVC T C AFC AVC ATC MC P(cake) Fixed Fixed cost wage $6 each capital $200 $50 per baker 20 38 56 73 104 133 158 191 219 250 277 296
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
How to calculate the Total Cost (TC), Average Fixed Cost
(AFC), Average Total Cost (ATC), and Marginal Cost (MC)?
1. The schedule below gives the Total Variable Cost (TVC) for producing various quantities of smurfs (smurfs are an input into cat food production). The Total Fixed Costs (TFC) is $100. Calculate the following and fill in the blanks: Total Cost (TC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). Cost Schedule for...
(Production & Cost) The incomplete table below gives the total, average, and marginal cost curves for a firm. Use the cost function definitions to complete the table. Q TC TVC TFC MC ATC AVC AFC 10 17 2 339 7 15 12 6100 2
3. The following table gives the short-run and long-run total cost for various levels of output of Consolidated National Aeme, Inc. Q TC: TC TFC TVC AFC AVC MC 0 0 350 300 400 400 435 465 465 495 505 5 560 560 6 600 635 7 700 735 a. Which column, TCi or TC2, represents a long-run total cost, and which represents a short-run total cost? How do you know? b. For each level of output, find short-run TFC,...
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,...
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