When the Frame Factory is producing 1,500 frames, total cost is $225,000 and variable cost is $180,000. What do average...
When the Frame Factory is producing 1,500 frames, total cost is $225,000 and variable cost is $180,000. What do average fixed costs equal at 1,500 units?
a.$45,000
b.$30
c.$225,000
d.$150
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When the Frame Factory is producing 1,500 frames, total cost is $225,000 and variable cost is $180,000. What do average...
worker is hired. twelfth 59. A) (Table) In the table, diminishine marginal returns set in when...
worker is hired. twelfth 59. A) (Table) In the table, diminishine marginal returns set in when the e, diminishing marginal returns set in when the fifth B) sixth C) eighth D) od restaurant currently serves lunch and dinner, and is trying to determine of the following costs is a sunk cost for this 60. Suppose a fast-food restaurant currently serves lu if it should open for breakfast Which of the following costs is a sunk COST business? A) a newspaper...
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...
a-What are the daily total fixed costs of producing LCD screens? b-What are the total variable...
a-What are the daily total fixed costs of producing LCD screens? b-What are the total variable costs of producing 100LCD screens per c -What are the total costs of producing 100 LCD d -What is screens per day? firt determine the toha miuin 100Dstesinsed od 9Toaswer thiqeu marginal cost of alternatively, the total variable costs-of producing 99 LD of 99? (Hint: To answer this question, you must 20- A basic problem with the infant-industry argument is that: a. most industries...
A firm’s total costs are $5000 when it is producing 40 units. Its average variable costs...
A firm’s total costs are $5000 when it is producing 40 units. Its average variable costs are $100. What are its average fixed costs? Select one: a. $125 b. $25 c. $1000 d. $4000
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
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...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500 1,000 500 F D E A B C 20 40 60 80 100 Quantity of wheat (bushels) Points on Graph Quantity of Labor (workers), L. Quantity of Wheat (bushels). Variable ariable Cost. VC Fixed Cost, FC $400 400 400 400 DOWN Total Cost, TC = FC + VC 400 600 800 1.000 1,200 1.400 1,600 1.800 2.000 400 400 12) (Figure and Table: Variable,...
6) If the average variable cost of producing 10 units is $18 and the average variable...
6) If the average variable cost of producing 10 units is $18 and the average variable cost of producing 11 units is $20, we know that, between 10 and 11 units of output, A) marginal cost is increasing. B) average total cost is increasing. C) average fixed cost is increasing. D) total cost is either increasing or decreasing. E) none of the above Use the figure below to answer the following questions. Price (dollars per inhaler) 10 7 4. 2...
Table 1 Measures of Cost for ABC Inc. Widget Factory Quantity Variable Total Costs Costs Fixed...
Table 1 Measures of Cost for ABC Inc. Widget Factory Quantity Variable Total Costs Costs Fixed Costs of Widgets 3233331 $40 $ $46 2 $ 3 32 $43 3 $ 6 4 $ 8 5 $55 6 $21 MAM $40 2. Refer to Table 1. The average fixed cost of producing five widgets is: a. $2 b. $4 c. $5 d. $8 3. The average variable cost of producing four widgets is a. $2 b. $2.5 c. $4 d. $5...
2 3 and 4 b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production f...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
worker is hired. twelfth 59. A) (Table) In the table, diminishine marginal returns set in when the e, diminishing marginal returns set in when the fifth B) sixth C) eighth D) od restaurant currently serves lunch and dinner, and is trying to determine of the following costs is a sunk cost for this 60. Suppose a fast-food restaurant currently serves lu if it should open for breakfast Which of the following costs is a sunk COST business? A) a newspaper...
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...
a-What are the daily total fixed costs of producing LCD screens? b-What are the total variable costs of producing 100LCD screens per c -What are the total costs of producing 100 LCD d -What is screens per day? firt determine the toha miuin 100Dstesinsed od 9Toaswer thiqeu marginal cost of alternatively, the total variable costs-of producing 99 LD of 99? (Hint: To answer this question, you must 20- A basic problem with the infant-industry argument is that: a. most industries...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
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...
Figure and Table: Variable, Fixed, and Total Costs Total cost $2,500 Total cost, TC 2,000 1,500 1,000 500 F D E A B C 20 40 60 80 100 Quantity of wheat (bushels) Points on Graph Quantity of Labor (workers), L. Quantity of Wheat (bushels). Variable ariable Cost. VC Fixed Cost, FC $400 400 400 400 DOWN Total Cost, TC = FC + VC 400 600 800 1.000 1,200 1.400 1,600 1.800 2.000 400 400 12) (Figure and Table: Variable,...
6) If the average variable cost of producing 10 units is $18 and the average variable cost of producing 11 units is $20, we know that, between 10 and 11 units of output, A) marginal cost is increasing. B) average total cost is increasing. C) average fixed cost is increasing. D) total cost is either increasing or decreasing. E) none of the above Use the figure below to answer the following questions. Price (dollars per inhaler) 10 7 4. 2...
Table 1 Measures of Cost for ABC Inc. Widget Factory Quantity Variable Total Costs Costs Fixed Costs of Widgets 3233331 $40 $ $46 2 $ 3 32 $43 3 $ 6 4 $ 8 5 $55 6 $21 MAM $40 2. Refer to Table 1. The average fixed cost of producing five widgets is: a. $2 b. $4 c. $5 d. $8 3. The average variable cost of producing four widgets is a. $2 b. $2.5 c. $4 d. $5...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
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