please answer 8-10. thank you!Homework Answers
8.
FC = TC when output is 0,
Here FC = 80
Here if firm does not operate, it will incur loss of 80
So option a is correct
9.
TC = TVC + FC
When 3 units are produced
TC = 50 + 80 = 130
So option d is correct
10
AVC = VC / Q
When 4 untis of output is produced
VC = TC - FC = 160 - 80 = 80
AVC = 80 / 4 = 20
So option b is correct
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please answer 8-10. thank you! Use the table below to answer questions 8 through 10. Output (Q TP) TVC TC $80 100 $...
Use the table below to answer questions 8 through 10. Output (Q = TP) TVC TC...
Use the table below to answer questions 8 through 10. Output (Q = TP) TVC TC $80 100 $ 0 20 30 50 80 120 110 130 160 200 If this firm does not produce any output, it: must pay fixed costs of $80. will not have to pay any costs. is making a long-run decision. will still have total revenue of $80. The total cost of producing 3 units of output is: $30. $80. $110. $130. Average variable cost...
(output)TFC SO TVC TC AFCAVC ATCMC $10 $15 $15 $16.75 $5 sing the above table, the...
(output)TFC SO TVC TC AFCAVC ATCMC $10 $15 $15 $16.75 $5 sing the above table, the TC, the AFC, and the TVC when output is 2 units are OA. S20,S250, and $15, respectively. O B. $35, $2.50, and $20, respectively. O C. $35, $2.50, and $30, respectively O D. $30, $2.50, and $40, respectively
- NAME TION PRINT LAST NAME, FIRST NAME e. 25 points per game. Win 7. Suppose through 10 games Dirk Nowitzki scored, o...
- NAME TION PRINT LAST NAME, FIRST NAME e. 25 points per game. Win 7. Suppose through 10 games Dirk Nowitzki scored, on averag his 11th game he scored 21 points, we know that his: marginal score is greater than his average score, and his marginal score is greater than his average score, and his marginal score is less than his average score, and his seas marginal score is less than his average score, and his se and his season...
q TFC TVC TC MC AVC ATC 0 $100 $0 $100 -- -- -- 1 100...
q TFC TVC TC MC AVC ATC 0 $100 $0 $100 -- -- -- 1 100 40 140 40 40 140 2 100 60 160 20 30 80 3 100 90 190 30 30 63.33 4 100 124 224 34 31 56 5 100 180 280 56 36 56 6 100 264 364 84 44 60.67 7 100 372 472 108 53.14 67.42 Refer to Table 9.2. If the market price is $34 and the firm produces 4 units of...
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 $ $ ...
Fast Press Company Short-run daily costs TP TVC TFC TC AFC AVC ATC MC 0 0...
Fast Press Company Short-run daily costs TP TVC TFC TC AFC AVC ATC MC 0 0 95 95 - - - - 1 30 95 125 95.00 30 125.00 30 2 50 95 145 47.50 25 72.50 20 3 60 95 155 31.66 20 51.66 10 4 64 95 159 23.75 16 39.75 4 5 90 95 185 19.00 18 37.00 26 6 150 95 245 15.83 25 40.83 60 7 196 95 291 13.57 28 41.57 46 8 240...
You have collected the following data on output and total variable costs Q TVC ($) 10...
You have collected the following data on output and total variable costs Q TVC ($) 10 72,800 20 124,400 30 159,600 40 183,200 50 200,000 60 214,800 70 232,400 80 257,600 90 295,200 100 350,000 a. Identify the range LF output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP). b. Current fixed costs for the company equal $207,500. Draw two graphs, both with Q on the horizontal axis: one graph shows TVC and TC, and...
10. Answer the questions below on the basis of the diagram. $10 , ATC AVC Cost...
10. Answer the questions below on the basis of the diagram. $10 , ATC AVC Cost per unit . 9 10 1 2 3 4 5 6 7 8 Quantity (in 1,000s) What does the graph indicate about: a. AVC at 6000 units of output? • b. ATC at 6000 units of output? c. AFC at 6000 units of output? d. TVC at 6000 units of output? e. TFC at all levels of output? f. TC at 10,000 units of...
You have collected the following data on output and total variable costs: Q TVC ($) 10...
You have collected the following data on output and total variable costs: Q TVC ($) 10 72,800 20 124,400 30 159,600 40 183,200 50 200,000 60 214,800 70 232,400 80 257,600 90 295,200 100 350,000 Identify the range of output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP). Current fixed costs for the company equal $207,500. Draw two graphs, both with Q on the horizontal axis: one graph shows TVC and TC, and the other...
10.Given the table, what is the value of average fixed cost at the quantity of output...
10.Given the table, what is the value of average fixed cost at
the quantity of output = 120 units?
A) $100 B) $0.83 C) $1.20 D) $1.32 E) None of the above
Answer and Explain
A perfectly competitive firm has two inputs, capital and labour. Capital is fixed in the short run and costs $100 per day. The firm's short run Total Product information as illustrated in the table below. The price of labour is $10 per hour. The market...
Use the table below to answer questions 8 through 10. Output (Q = TP) TVC TC $80 100 $ 0 20 30 50 80 120 110 130 160 200 If this firm does not produce any output, it: must pay fixed costs of $80. will not have to pay any costs. is making a long-run decision. will still have total revenue of $80. The total cost of producing 3 units of output is: $30. $80. $110. $130. Average variable cost...
(output)TFC SO TVC TC AFCAVC ATCMC $10 $15 $15 $16.75 $5 sing the above table, the TC, the AFC, and the TVC when output is 2 units are OA. S20,S250, and $15, respectively. O B. $35, $2.50, and $20, respectively. O C. $35, $2.50, and $30, respectively O D. $30, $2.50, and $40, respectively
- NAME TION PRINT LAST NAME, FIRST NAME e. 25 points per game. Win 7. Suppose through 10 games Dirk Nowitzki scored, on averag his 11th game he scored 21 points, we know that his: marginal score is greater than his average score, and his marginal score is greater than his average score, and his marginal score is less than his average score, and his seas marginal score is less than his average score, and his se and his season...
You have collected the following data on output and total variable costs Q TVC ($) 10 72,800 20 124,400 30 159,600 40 183,200 50 200,000 60 214,800 70 232,400 80 257,600 90 295,200 100 350,000 a. Identify the range LF output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP). b. Current fixed costs for the company equal $207,500. Draw two graphs, both with Q on the horizontal axis: one graph shows TVC and TC, and...
10. Answer the questions below on the basis of the diagram. $10 , ATC AVC Cost per unit . 9 10 1 2 3 4 5 6 7 8 Quantity (in 1,000s) What does the graph indicate about: a. AVC at 6000 units of output? • b. ATC at 6000 units of output? c. AFC at 6000 units of output? d. TVC at 6000 units of output? e. TFC at all levels of output? f. TC at 10,000 units of...
10.Given the table, what is the value of average fixed cost at
the quantity of output = 120 units?
A) $100 B) $0.83 C) $1.20 D) $1.32 E) None of the above
Answer and Explain
A perfectly competitive firm has two inputs, capital and labour. Capital is fixed in the short run and costs $100 per day. The firm's short run Total Product information as illustrated in the table below. The price of labour is $10 per hour. The market...
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