Homework Answers
it is experiencing dis economies of scale as, when production capacity is increased the avg cost per unit is increasing
So correct answer is option a. dis-economies of scale
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Which one is true for ABC Corp. that produced 100 million units of its product at...
In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200...
In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of $9,200, then in this output range there are Select one: a. economies of scale b. increasing marginal returns c. diminishing marginal returns d. decreasing marginal costs e. diseconomies of scale
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. Workers Output Marginal Product Total Cost Average Total Cost Marginal Cost 0 0 --- --- --- 1 20
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. WorkersOutputMarginal ProductTotal CostAverage Total CostMarginal Cost00---------1202503904120514061507155a. Using the information above, calculate the marginal product, total cost, average total cost, and marginal cost. Identify the output level at minimum average total cost for Toys Create Corp. b. Construct the marginal-cost and average-total-cost curves for Toys Create Corp. Using your own words, explain diminishing marginal product and...
20. When the average product of labor is decreasing, which of the following would you expect...
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of...
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of output at a price of $2 per unit. If ABC 1. Corporation's explicit cost to produce the 2,000 is $1,500 and its implicit cost to produce the 2,000 units is $2,000, then ABC Corp. has total revenue of accounting profit of ,and an economic profit of an $1,500; $0; $1,000 $4,000; $1,000; $0 $4,000; $500; $2,500 $4,000; $2,500; $500 a. b. с....
1. Which of the following must be true when average total cost is decreasing? Average fixed...
1. Which of the following must be true when average total cost is decreasing? Average fixed cost is increasing. Average variable cost is constant. Marginal cost is lower than avergae total cost. Marginal cost is decreasing. 2. Which of the following is true? AVC=ATC+AFC. AFC will go up in the beginning but will eventually go down. MC= (change in TC)/ (change in Q) FC+MC=TC. 3. Which of the following is true? Average product (AP) is increasing when the marginal product...
1. Which of the following is true before a firm has reached the point of diminishing  ...
1. Which of the following is true before a firm has reached the point of diminishing returns? a) marginal product is negative b) marginal product is rising, but still positive c) average product is declining d) average product may be rising or declining e) both a) and c) are correct 2. Whenever the slope of the total product curve is increasing at an increasing rate, the marginal product curve is _____. a)...
Question bl. point) ABC Inc seks one product ABC in uses the perpetual inventory system and...
Question bl. point) ABC Inc seks one product ABC in uses the perpetual inventory system and the average cost method. The following represents al events for the year, Opening inventory 100 units at $b cost per unit Parozse dunel 200 units at 59 cost per unit Purces hues 150 units at $9 cost per unit 100 units at $ 40 seling price per unit What's the gross profit for the year?
ABC Corp. has one shareholder, George, who owns 100% of the ABC stock. George owns the...
ABC Corp. has one shareholder, George, who owns 100% of the ABC stock. George owns the building where ABC Corp. conducts its business. ABC Corp. occupies the entire building and leases it at a monthly cost of $10,000. In 2018, the IRS audited ABC Corp.’s tax return and found that the monthly lease expense was unreasonably high and should have paid only $8000 per month. Which of the following, if any, is correct: a. IRS does not have the authority...
Question Completion Statun QUESTION 1 1 pe if a fiem can adjust its employment of all...
Question Completion Statun QUESTION 1 1 pe if a fiem can adjust its employment of all inputs, then it is experiencing economies of scale G in the long run O off its expansion pach O Imited only by the capacity of its fixed capital QUESTION 2 1 pains Which of the following is *not classified as a capital input cement mixer restaurant oven 500 shares of General Motors stock o office photocopler QUESTION 3 1 peintm The association of each...
Table 1 shows the three short-run average total cost (ATC) curves for a firm with only...
Table 1 shows the three short-run average total cost (ATC) curves for a firm with only three possible plant sizes: (1) Size 1, (2) Size 2, and (3) Size 3. Find the firm's long-run average cost (LRAC) curve and answer Questions 17- 21 on the basis of the information in Table 1 Table 1 Only Three Possible Plant Sizes Long-Run Average Cost Curve LRAC Size 1 Size 2 QI ATC 20 S0.95 30 40 50 60 70 Size 3 Size...
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of output at a price of $2 per unit. If ABC 1. Corporation's explicit cost to produce the 2,000 is $1,500 and its implicit cost to produce the 2,000 units is $2,000, then ABC Corp. has total revenue of accounting profit of ,and an economic profit of an $1,500; $0; $1,000 $4,000; $1,000; $0 $4,000; $500; $2,500 $4,000; $2,500; $500 a. b. с....
Question bl. point) ABC Inc seks one product ABC in uses the perpetual inventory system and the average cost method. The following represents al events for the year, Opening inventory 100 units at $b cost per unit Parozse dunel 200 units at 59 cost per unit Purces hues 150 units at $9 cost per unit 100 units at $ 40 seling price per unit What's the gross profit for the year?
Question Completion Statun QUESTION 1 1 pe if a fiem can adjust its employment of all inputs, then it is experiencing economies of scale G in the long run O off its expansion pach O Imited only by the capacity of its fixed capital QUESTION 2 1 pains Which of the following is *not classified as a capital input cement mixer restaurant oven 500 shares of General Motors stock o office photocopler QUESTION 3 1 peintm The association of each...
Table 1 shows the three short-run average total cost (ATC) curves for a firm with only three possible plant sizes: (1) Size 1, (2) Size 2, and (3) Size 3. Find the firm's long-run average cost (LRAC) curve and answer Questions 17- 21 on the basis of the information in Table 1 Table 1 Only Three Possible Plant Sizes Long-Run Average Cost Curve LRAC Size 1 Size 2 QI ATC 20 S0.95 30 40 50 60 70 Size 3 Size...
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