30. Consider the firm whose MC, AC, AVC, AFC functions are shown in the following graph. AC, AC 10 AF Output 50 100...

Question

Question

business economics

Answer 1

Answer #1

a) Zero units, the firms will not be producing at this price because at this point the price is lower than the AVC. The answer is "A".

b) "B"

ITs 1900 because at the output of 100 average variable cost is 15 and total cost is 34, the difference 19 x 100 will be the fixed cost.

Answer 2

Similar Homework Help Questions

Cost, $ MC 30 AC 20 18 AVC 10 50 80 9 for the The graph...

Cost, $ MC 30 AC 20 18 AVC 10 50 80 9 for the The graph above shows the cost curves for a competitive firm. The price must exceed firm to operate in the short run. O $10 O $0 O $18 O $20
Cost, $ MC 30 AC 20 18 AVC G 10 50 80 9 The graph above...

Cost, $ MC 30 AC 20 18 AVC G 10 50 80 9 The graph above shows the cost curves for a competitive firm. In the short run, the firm will shut down if price falls below O 50 O $10 O $18 $20
Costs MC AC 20 18 AVC 10 50 80 9 The graph above shows the cost...

Costs MC AC 20 18 AVC 10 50 80 9 The graph above shows the cost curves for a competitive firm. If the profit-maximizing level of output is 80, price is equal to O $18 O $10 O $30 O $20

MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925...

MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925 $75 100 Refer to an above table. What is the average variable cost of producing three units of the output? $291.67 o $125 $100 $166.67 问题3 29 问题3 AVC ATC MC AFC Output TVC TC TFC $500 $200 $800 2 $75 $875 4 $925 5 100 $75 Which of the following is correct for this firm with the cost structure presented in the table...
Output Total Costs Fixed Costs Variable Costs AFC AVC ATC MC 0 100 100 0 1...

Output Total Costs Fixed Costs Variable Costs AFC AVC ATC MC 0 100 100 0 1 150 100 50 100 50 150 50 2 225 100 125 50 62.5 112.5 75 3 230 100 130 33.33 43.33 76.67 5 4 300 100 200 25 50 75 70 5 400 100 300 20 60 80 100 Graph the average and marginal cost curves from the previous question. What would be the optimal output, assuming you want to minimize diminishing returns?
Question 10 1 pts $. pc MC 50 - AC 40 1 AVC 30 14 1...

Question 10 1 pts $. pc MC 50 - AC 40 1 AVC 30 14 1 9 10 23 25 33 The figure above shows the short-run cost curves for a firm in a perfectly competitive market. The firm should shut down production in the short run if price is below $30 price is below $40. price is below $50. price is above AC

Consider the following figure for a perfectly competitive firm: MC D P AC AVC b $...

Consider the following figure for a perfectly competitive firm: MC D P AC AVC b $ per Unit of Output h kn Quantity Consider the accompanying figure. At the profit-maximizing quantity total variable cost is represented by the rectangle: O fech zero, as the business would suffer a loss Ofbn Ogan o Oecn
Consider the following table of costs: Output &...

Consider the following table of costs: Output Total Variable Costs Total Costs 0 $0 $30 1 20 50 2 30 60 3 48 78 4 90 120 5 170 200 a) Plot the total fixed cost (TFC) curve, the total variable cost (TVC) curve, and the total cost (TC) curve on the same graph. b) Briefly explain the reason for the shape of the cost curves in part (a). c) Add to the...
Consider the following hypothetical example of a boat building firm. The total fixed cost is £100,...

Consider the following hypothetical example of a boat building firm. The total fixed cost is £100, irrespective of how many boats are produced. Total variable costs (TVC) will increase as output increases. Output Total variable cost(£) 50 2 80 100 - 4 Total fixed cost (£) 100 100 100 100 100 100 100 100 Total cost(£) 150 180 200 210 250 320 450 740 110 150 220 350 640 5 a. Plot the Total Cost (TC), Total Variable Cost (TVC),...

1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions:...

1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions: TR = 10Q TC = 2 + 2Q + Q2 MC = 2 + 2Q At the level of output maximizing profit , the above firm's level of economic profit is A) $0 B) $4 C) $6 D) $8 *Additional information after I did the math: The price this firm charges for its product is $10, the level of output maximizing profit is 4...