Q: his refers to the ratio of a small increment of cost and a small increment of output. a. Increment…
A: Below is the formula for marginal cost:
Q: 39. What do you call that COST which is nat usually thought of at a coST? A. Explicit Cost B.…
A: When making any activity, there used to be some cost associated with it thay is classified into…
Q: QUESTION 22 Refer to the table below: Quantity of Output Fixed Variable Total Cost Cost Cost 1 $23…
A: Answer to the question is as follows :
Q: a. Complete the following table and answer two questions about costs. Instructions: Enter your…
A: Here we calculate the following terms by using the given information , so the calculation of the…
Q: Refer to Figure 13-4. Curve A represents which type of cost curve? O marginal cost O average total…
A: The curve A is negatively sloped. It is continuously falling and never rises. Curve A is relatively…
Q: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False
A: "Marginal cost represents change in total costs when one more unit is produced while average total…
Q: 1. Show and explain the relationship between total cost, marginal cost and average variable cost
A:
Q: (d) Define the cost function g(n) = cost of making n sandwiches. Assume the cost to make 800…
A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…
Q: What are the variable costs?
A: Variable cost refers to those costs that are changed along with the changes in the production. In…
Q: Discuss some of the difficulties encountered in applying these economic concepts in practical…
A: The fixed cost is the cost which remains the same even when the firm produces nothing as output.…
Q: Classify the Costs for Predicting Cost Behavior?
A: Every company incurred the costs to produce goods and services. For example labor cost, and…
Q: Three departments-milling (M), drilling (UJ, three work areas in Victor Berardis's machine shop in…
A: Workpiece feet from M to D = 22 * 9 = 198Workpiece feet from M to S = 34 * 5 = 170Workpiece feet…
Q: Cost (thousands of $) The graph shown on the right represents the cost C (in thousands of dollars)…
A: Cost refers to all the expense as well as the expenditure in a production process. These expenses…
Q: .If total cost is increasing, marginal cost is positive. a. True O b. False
A: # Total cost is the sum of variable and fixed cost incurred by a firm. At the same time, the…
Q: What is Cost Analysis?
A: The correct answer is given in the second step.
Q: FIGURE 7-3 $100 90- 80 70 60 50 主 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to…
A: please find the answer below.
Q: 66. Which of the following cost curves is never U-shaped? A. O Average cost curve В. Marginal cost…
A: Which of the following cost curves is never U - shaped.
Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…
A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.
Q: A. Graph total fixed cost, total variable cost and total cost B. Explain how the law of diminishing…
A: Answer A. TVC + TFC = TC Both TC and TVC run in concurrently. The x-axis of TFC is parallel. At zero…
Q: he cost a company incurs each month when it produces q pairs of shoes. Graph the average cost and…
A: AC(average cost) is the ratio of TC(total cost) and q(quantity). MC(marginal cost) is the derivative…
Q: Define explicit costs and implicit costs. b. Assume the following: * A firm buys a unit of…
A: Explicit cost is the cost that is incurred for paying external expenses like wages to employees,…
Q: 8. Why is the Minimum Average Total Cost and Efficient Scale important?
A: Average Total Cost : The average cost or average total cost is per unit cost incurred by the firm in…
Q: Output (units) (units) (units) (units) |(dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A). $500…
A: We know , TC = TFC + TVC TC = 500+ 600 TC = $1100
Q: 1. Find the total cost if marginal cost MC = 4 q+ 15 and fixed cost FC = 100.
A: total cost, in economics, the sum of all costs incurred by a firm in producing a certain level of…
Q: Explain the relationship between total product, marginal product, and average product and how does…
A: Total ProductIn simple terms, we will define Total Product because the total volume or amount of…
Q: 38. Graphically, where is average fixed cost (AFC)? It is below price but above average variable…
A: "Cost refers to the value of money that is spent on production or other economic activities." "Fixed…
Q: lassify each individual element of cost according to its behavior pattern (fixed, variable, or…
A: Fixed costs, variable costs, and semi-variable costs are types of costs that are classified based on…
Q: Mention and explain the cost components certainly do not exist in the long run?
A: The cost components include fixed costs and variable costs. Variable costs are the costs which vary…
Q: Identify the explicit costs incurred by this business. Why are they explicit costs?
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 1. Economies of scale Vision Source is a cable television provider. In the long run, Vision Source…
A: Average total cost (ATC) = Total cost (TC) / Output (Q) When Q = 20,000, ATC = 700,000 / 20,000 = 35…
Q: Which of the following statements regarding marginal analysis is true? A. If total cost…
A: To sum up, marginal analysis is described as the cost of identifying the level of output at an…
Q: Q2.Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then…
A: Average Cost(AC) is the cost of each unit that is evaluated by dividing Total Cost by the amount of…
Q: (a) Find the marginal cost function C'(x). C'(x) Use it to estimate how fast the cost is increasing…
A: Answer: Given values: To find: Marginal cost function and marginal cost (at 60,000) Average cost…
Q: What is the total variable cost of 2 oil changes?
A: Total cost is the sum of fixed cost and variable cost.
Q: 9. What is the Average Total Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 g) 120 Oh) 160
A: Introduction Total cost is the function of output. Total cost is the addition of total fixed cost…
Q: Define economies of scale and explain why they might arise. Define diseconomies of scale and explain…
A: Define economies of scale and explain why they might arise. When the long-run average total…
Q: 7. The cost per computer produced at a factory depends on how many computers the factory produces in…
A: The cost function of a firm consists of two types of cost- fixed cost and variable cost. The fixed…
Q: statements is true or false and explain If marginal cost is larger than average cost, average cost…
A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.
Q: 12 .knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…
A: Total cost is the sum of total fixed cost and total variable cost. Average fixed cost is total fixed…
Q: (iii) What part of the decreasing range is practically feasible? (iv) Write an equation for the…
A: The average (AC) cost function of the firm is, The first order condition is, The second order…
Q: Refer to the information provided in the Figure below to answer the question(s) that follow. Cost…
A: Here, we can see that Curve 1 is the Marginal Cost (MC) curve which cuts Curve 2 and Curve 3 at…
Q: 8. Which one of the following cost can never become zero? (A) (B) (C) (D) Average cost Fixed cost…
A: Answer according to the given question Option(B) is correct that it is the fixed cost which cannot…
Q: Question: The costs which vary as the level of putput varies are called: ) Prime costs ) Indirect…
A: Cost basically refers to the monetary value of goods or services that the consumers buy and the…
Q: Answer the question on the basis of the following cost data. Output Total Cost $ 24 1 33 2 41 3 48…
A: Variable cost is the cost that moves directly with respect to business activity. That is, one pays…
Q: TC = TVC + TFC TVC = AVC * q TFC = AFC * q TC ATC = AFC + AVC TFC AFC = TVC AVC = ATC MC = Да
A: Fixed cost is the cost that is same for all levels of production and marginal cost is the cost that…
Q: a. Construct a diagram of the cost function, where you have the quantity on the X-axis and the cost…
A: Answer; PART A QUANTITY(q) cost(C) Fixed (FC) Variable. (VC) Marginal. cost (MC) Average T.…
Q: what is the Explicit and Implicit cost? find the accounting profit and the economic profit Suppose…
A: Explicit cost are those cost which is hired by producer from outside' Implicit cost also known as…
Question 4 please
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- On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter. TOTAL REVENUE (Dollars) 2610 2430 2250 2070 1890 1710 1530 1350 1170 990 Δ ΔΔ Δ 0 25 50 75 100 125 150 175 200 225 250 275 300 325 PRICE (Dollars per scooter) Total Revenue ? According to the midpoint method, the price elasticity of demand between points A and B is approximately 0.69 ▼ Suppose the price of scooters is currently $125 per scooter, shown as point A on the initial graph. Because the demand between points A and B is inelastic , a $25-per-scooter decrease in price will lead to a decrease in total revenue per week.The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 260 240 220 200 180 160 140 120 100 80 60 40 20 0 0 9 18 27 A X B Demand 36 45 54 63 72 81 QUANTITY (Scooters) 90 99 108 117 Total Revenue ?Consider total cost and total revenue given in the following table: TABLE IN IMAGE Calculate profit for each quantity. How much should the firm produce to maximize profit?(ii) Calculate marginal revenue and marginal cost for each quantity. Graph them. (Hint: Put the points betweenwhole numbers. For example, the marginal cost between 2 and 3 should be graphed at 2½.) At what quantitydo these curves cross? How does this relate to your answer to part (a)?(iii) Can you tell whether this firm is in a competitive industry? If so, can you tell whether the industry is in along-run equilibrium? (8.75)
- On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 + 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ? According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is ▼, a $15-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must beWe have the results from our first Facebook ad campaign. The following table summarizes the results broken down by age and whether the person seeing the add clicked through. Age 40 or under 85 Age more than 40 65 Total Clicked Through 150 Did Not Click 590 260 850 Total 675 325 1000 For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who clicked through to our website are age 40 or less, we should focus our ads to only younger people. I'm not great with number though, and since I know you had a stats class in college, I wanted to get your opinion. Should we focus our adds only to those age 40 and under or should we do something else?On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ?
- Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 09 18 27 A + 36 45 54 63 72 81 QUANTITY (Scooters) B Demand 90 90 99 108 117 Total Revenue ?Tammy quit her job as a math teacher making $70,000 per year to start her own online business. The first-year revenue totaled to $200,000. During the first year of online business, Tammy paid $50,000 for the office rent and $20,000 for utilities and supplies. What is the amount of accounting profit generated from Tammy’s online business? $60,000 $200,000 $130,000 $70,000X 1 ences If the price of oats is $3.0 per kilo, calculate the total revenue and the total profit (or loss) at the quantities shown in below table. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Leave no cells blank - be certain to enter "0" wherever required. Mc Graw Hill Quantity (kilos) Total revenue Total cost Total profit $ 600 1800 $1,900 700 2100 $2,000 $ 800 2400 $2,400
- 6 If a company’s total revenue is $1,744,322, their explicit costs are $863,214, and their implicit costs are $506,688, then what is their Accounting profit? What is their economic profit? (Show your work).Please see below. I need assistance on this graphing problem.6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops in Vancouver. On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demand curve. Notice that when you click on the rectangle, the area is displayed. Note: You will not be scored on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 60 40 20 0 0 6 12 ** + 48 B 18 24 30 36 QUANTITY (Bippitybops per day) Demand 54 80 72 Total Revenue ?
