Homework Answers
Answer
Option 1
AVC=TVC/Q
AVC(4)=5400/4=1350
the AVC is $1350
=======
Answer
Option 3
ATC=TC/Q
TC=TFC+TVC
TC(4)=1000+5400=6400
ATC=6400/4=1600
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Use the table below to answer the following question. Units of Total Total Fixed Variable Cost...
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,...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed cost of a perfectly competitive firm. The market equilibrium price is not given explicitly but can be deduced from Table 4. Output lulewin Total revenue $1,500 $2,000 $3,000 $4,000 $5,000 Total variable cost $1,500 $2,000 $2,600 $3,900 $5,000 Total fixed cost $500 $500 $500 $500 $500 a. What level of output should the firm produce? Show your work. (15 points) b. Should it shut...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input Variable Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) $500 $0 $500 $200 $500 $400 $500 $600 $500 $800 $500 $1000 Refer to Exhibit 21-3. The average variable cost of producing 45 units of output is a. S2.44 (E) b. S1.60. c. $2.00. d. S1.33. e. $13.33.
Given the table below, what is the total fixed cost when 400 units of output are...
Given the table below, what is the total fixed cost when 400 units of output are produced? SHOW ALL YOUR COMPUTATIONS, place the formulas used Output Total Cost Total Fixed Cost Total Variable Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 100 560 60 200 4.00 300 4.00 400 7.00 a. $500 b. $2000 c. $3500 d. $5000 e. none of the above
Complete the table below output total cost total fixed cost total variable cost average fixed cost...
Complete the table below output total cost total fixed cost total variable cost average fixed cost average variable cost average total cost marginal cost 100 560 60 200 4.00 300 4.00 400 7.00
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...
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...
Use the table below to answer the following question.
Use the table below to answer the following question.What is the marginal cost of producing the third unit of output? What is the average variable cost at an output level of three units? What is the average total cost at an output level of three units?
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. OutputTotal Cost Average Total Cost Average Variable Cost Average Fixed Total Va
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. OutputTotal Cost Average Total Cost Average Variable Cost Average Fixed Total Variable Cost Marginal Cost $ 1 $ $ 3,150 4 1 2 3 5 6 7 8,588 11,600 8 b. What is the value of total fixed cost? $ . What is the most productive level of output? units ....
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average...
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average variable cost AFC = Average fixed cost AVC is minimized at a quantity of 250 [31] At 250 units of output, total cost AVC equals: A. 1000 B. 1500 C. 2500 D. 4000 AFC [32] At 250 units of output, marginal cost equals: 250 [33] Total fixed cost equals: A 1500 B. 1000 C. 4000 D. unable to determine, since not enough information provided
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,...
2. Table 4 below shows the total output, total revenue, total variable cost, and total fixed cost of a perfectly competitive firm. The market equilibrium price is not given explicitly but can be deduced from Table 4. Output lulewin Total revenue $1,500 $2,000 $3,000 $4,000 $5,000 Total variable cost $1,500 $2,000 $2,600 $3,900 $5,000 Total fixed cost $500 $500 $500 $500 $500 a. What level of output should the firm produce? Show your work. (15 points) b. Should it shut...
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input Variable Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) $500 $0 $500 $200 $500 $400 $500 $600 $500 $800 $500 $1000 Refer to Exhibit 21-3. The average variable cost of producing 45 units of output is a. S2.44 (E) b. S1.60. c. $2.00. d. S1.33. e. $13.33.
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...
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...
Use the table below to answer the following question.What is the marginal cost of producing the third unit of output? What is the average variable cost at an output level of three units? What is the average total cost at an output level of three units?
Styles Use the following cost curves to answer questions (31) through (33): Note: AVC = Average variable cost AFC = Average fixed cost AVC is minimized at a quantity of 250 [31] At 250 units of output, total cost AVC equals: A. 1000 B. 1500 C. 2500 D. 4000 AFC [32] At 250 units of output, marginal cost equals: 250 [33] Total fixed cost equals: A 1500 B. 1000 C. 4000 D. unable to determine, since not enough information provided
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