Fixed, or sunk costs, will NOT factor into which of the following? average cost determination profitability...
Fixed, or sunk costs, will NOT factor into which of the following?
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average cost determination |
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profitability of the firm |
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marginal analysis |
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economic profit |
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accounting profit |
Homework Answers
Fixed or sunk costs will not factor into marginal analysis. Hence, option(C) is correct.
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Fixed, or sunk costs, will NOT factor into which of the
following?
average cost determination
profitability...
Match the following letter for the correct number A. Fixed Factor or Fixed Costs B. Total costs = Fixed Costs +...
Match the following letter for the correct number A. Fixed Factor or Fixed Costs B. Total costs = Fixed Costs + Variable Costs C. Marginal Costs = Marginal Revenue D. Variable Factor or Variable Costs E. Diminishing Marginal Returns F. Specialization G. Economic Profit = Total Revenue - Total Explicit Costs - Total Implicit Costs H. Marginal Cost I. Marginal Revenue J. sunk costs 1. A small Italian restaurant has to turn away customers during a peak season rush because...
Fixed costs are irrelevant in the decision about whether to shut down production in the short...
Fixed costs are irrelevant in the decision about whether to shut down production in the short run because fixed costs: do not affect, and are not affected by, the quantity the firm produces. can be paid off over time. only change when production changes only change in the short run |If a profit-maximizing perfectly competitive firm shuts down in the short run, it incurs no losses. it incurs an economic loss equal to total fixed cost. its profit equals zero....
b. Average variable cost, average fixed cost, marginal cost and average cost are necessary for the...
b. Average variable cost, average fixed cost, marginal cost and average cost are necessary for the analysis of the cost structure of the firm. Define each of these terms and show how they are calculated c. Describe the relationship between the marginal product and the total product of a firm
- 4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1...
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4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
Suppose that a firm in a perfectly competitive market has sunk fixed cost and avoidable fixed...
Suppose that a firm in a perfectly competitive market has sunk fixed cost and avoidable fixed cost. If the market price is above the minimum point on the short-run average variable cost curve, the firm will necessarily produce a positive quantity. True or False?
11) For a firm with some positive fixed costs, the average total cost is U-shaped, decreasing...
11) For a firm with some positive fixed costs, the average total cost is U-shaped, decreasing at first and, after some quantity ?0, increasing. Which of the following must be true? a. Average fixed cost is increasing after ?0 b. The firm’s marginal cost is never higher than the firm’s average variable cost when quantity is greater than ?0 c. The firm’s average variable cost is increasing for quantities greater than ?? d. The firm’s average fixed cost reaches its...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
please provide detailed step by step solution Microeconomics Question in Microeconomics me ULTIPLE CHOICE. Choose the...
please provide detailed step by step solution
Microeconomics
Question in Microeconomics
me ULTIPLE CHOICE. Choose the one alternative that best completes the statement or answer the question 1) Which of the following are included in calculating economic costs but not accounting costs? A) costs of capital B) costs of natural resources C) variable costs D) opportunity cost of resources used in providing the product. 2) 2) For many entrepreneurs, starting a new business means leaving an existing job and the...
Determination of cost and price, and profitability analysis Introduction • In this activity you must complete...
Determination of cost and price, and profitability analysis Introduction • In this activity you must complete a practice exercise on price decisions and profitability analysis. Specific instructions: 1. Carefully analyze the following hypothetical situation and answer the requirements: • The XYZ Company wishes to invest $ 2,000,000 for the design, development and production of a new blender model. Accountants determine that the price cannot exceed $ 30/unit, which is the competitive price in the market. The company wishes to generate...
Falculate marginal costs, total costs, average fixed costs, average variable costs and average to...
Falculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed Costs are $100 (even when there is no production). Round to the nearest whole number. AverageAveraze Variable MarinalalixedVariable Arverage Total Cost Cost Cost OutputCost Cost Cost 60 90 110 150 230 350 510 710
Falculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed Costs are $100 (even when there...
Fixed costs are irrelevant in the decision about whether to shut down production in the short run because fixed costs: do not affect, and are not affected by, the quantity the firm produces. can be paid off over time. only change when production changes only change in the short run |If a profit-maximizing perfectly competitive firm shuts down in the short run, it incurs no losses. it incurs an economic loss equal to total fixed cost. its profit equals zero....
-
4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
please provide detailed step by step solution
Microeconomics
Question in Microeconomics
me ULTIPLE CHOICE. Choose the one alternative that best completes the statement or answer the question 1) Which of the following are included in calculating economic costs but not accounting costs? A) costs of capital B) costs of natural resources C) variable costs D) opportunity cost of resources used in providing the product. 2) 2) For many entrepreneurs, starting a new business means leaving an existing job and the...
Determination of cost and price, and profitability analysis Introduction • In this activity you must complete a practice exercise on price decisions and profitability analysis. Specific instructions: 1. Carefully analyze the following hypothetical situation and answer the requirements: • The XYZ Company wishes to invest $ 2,000,000 for the design, development and production of a new blender model. Accountants determine that the price cannot exceed $ 30/unit, which is the competitive price in the market. The company wishes to generate...
Falculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed Costs are $100 (even when there is no production). Round to the nearest whole number. AverageAveraze Variable MarinalalixedVariable Arverage Total Cost Cost Cost OutputCost Cost Cost 60 90 110 150 230 350 510 710
Falculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed Costs are $100 (even when there...
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