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please answer problem B questions 1 and 2
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- How does fixed cost affect marginal cost? Why is this relationship important?In choosing a production technology, how will firms react if one input becomes relatively more expensive?Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?
- Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costsWhat is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?
- Output TFC TVC TC MC ATC A 25 25 В 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined.Mon Tue Wed Thu Fri Sat Sun Notes yue cost Functi ou and price per unit function of setling x vinit of calculators are c(x) =°0.1x+ 2x+500 and X= 200-p hspectively calculeate the ) revenue Functon ) Elaborate the of cakulators are produced. marginal cost when 5 units t) maximun protitOutput TFC TVC TC MC АТС A 25 25 ---- -- ---- -- B 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the total cost at point E? 135 125 185 Cannot be determined
- Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?In order to produce 100 oatmeat cookies, GoodieCookieco inours an average total cost of 025 per cookie The company's margnal cnt constant at $0.10 for all oatmeal cookies produced. The total cost to produce 50 oatml cookies is Select one WAS20 Oh S60 Oc25 Od $50 Clear my chooiceThe figure to the right ilustrates the long-nun average cost curve for a company that makes motors Long-un average con Suppose the company produces 18 thousand motors per month. la it expelancing conomies of scale dieconomies of scale, or constant rutums to scale 4000 the company produces 18 thousand motors. then it experiences 24.00 12.00- 4.00 Quanty motors per month in 1.000s) Averape total cost