Q: What is AC(y) for cost function c(y) = y3? Input prices are taken as constants.
A: Average cost measures the per unit cost of production.
Q: why is the fixed cost 10?
A: Fixed cost doesn't change with the change in the number of output.
Q: Assume that the situation can be expressed as a linear cost function. Find the cost function.…
A: The total cost function comprises of variable costs and fixed costs. The fixed costs remain the same…
Q: The total cost of producing 25 tons of butter is 45000. If the average variable cost is $775, then…
A: TC(Total) is the cost which is incurred by a firm in producing some specific level of output. It is…
Q: Find total cost if average cost is $11 and the output is 24 units
A: Average Cost (AC): - it is the average value of total cost incurred on a specific unite of output.…
Q: Average total cost is equal to:
A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost…
Q: Adam operates a factory that produces beach towels. His current level of output equals 1000 towels…
A: Average total cost is referred to as the sum total of all production costs divided by the total…
Q: Find total cost if fixed cost and variable cost are $300 and $100 respectively
A: The data presented in the question above is:- Fixed cost of firm = $300 Variable cost of firm = $100…
Q: When a firm produces 600 widgets with total cost of $1,300 and fixed cost of $800, what is the…
A: The variable cost per unit is the average variable cost.To calculate the average variable cost,…
Q: 2,000 1,000 2 10 15
A: Average cost(AC) is minimized when q=10. At q=2, TC curve is increasing at increasing rate. At this…
Q: Referring to the cost table above, what is the average total cost if quantity produced equals 300…
A: Total cost of a firm is the cost incurred by the firm by producing a certain amount of output. The…
Q: Determine the cost change factor in the following cases and identify the types of costs in them. The…
A: Cost oa production is the monetary value incurred in the process of production on inputs . There are…
Q: Find the minimum value of the average cost for the given cost function on the given intervals. C(x)…
A: (a) C(x) =x3+28x+128minimum value of the average cost over the interval 1≤x≤10Finding out average…
Q: Calculate average cost when total cost is $100,000 and output is 74 units
A: We are given that:- Total cost incurred by the firm = $100,000 Total output = 74 units
Q: If a production function exhibits decreasing returns to scale, average cost will decrease as output…
A: Average cost is the per-unit cost of output.
Q: Diseconomies of scale exists over the range of output for which the long run average cost curve is?
A: Diseconomies of scale exists over the range of output for which the long run average cost curve is…
Q: If the total quantity is 100, the average fixed cost is 10, then we can say that the total fixed…
A: Fixed cost is that cost which remains the same irrespective of the quantity produced by the firm.
Q: Calculate the total cost if average total cost is $35 and the unit of output is 22 units
A: The Given information is as follows:- Average total cost of the firm = $35 Units of output = 22…
Q: Find total cost if average cost is $31 and the output is 60 units
A: The data presented in the question above is:- Total cost is to be calculated using information given…
Q: Which of the following best describes total fixed cost?a.The change in total cost when one…
A: Cost in the domain of accounting, the overall costs for a business may be classified into different…
Q: If the average variable cost is $2.00 and the average total cost is $8.00 and the marginal cost is…
A: Answer: Note: I am considering that average variable cost, not average available cost as you have…
Q: referring to the cost table above, what is the total cost if quantity produced equals 100 units? a.…
A: Total cost is the overall cost which incurs in the course of production.
Q: Consider the following Total Cost function TC= 20 + 0.5 Q Assume Q = 10 How much the Average Total…
A: Average total cost is the aggregate of all cost that the firm incur to produce a batch of product…
Q: Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output…
A: Given, ATC = $60 AFC = $25 MC = $45 Output = 300.
Q: Average Variable Cost is
A: Average Variable Cost is the Variable cost per unit or total variable cost by the output.
Q: Find total cost if average cost is $11 and output is $20
A: The data presented in the question above:- Average cost = $11 Output = $20 Total cost is to be…
Q: ips is described in the table that follows -m's fixed costs equal $10,000 per day. Ca e average…
A: Computation with the help of following formula, AVC = VC/O ATC = TC/O AFC = FC/O VC = TC-FC…
Q: Find total cost if output is 39 units and average cost is $22
A: The Given information is as follows:- Output of firm = 39 units Average cost = $22 We have to find…
Q: In detail, What is one example of a non-linear cost function and explain what factors cause the…
A: A cost function whose graph of total cost within a relevant range is not a straight line is defined…
Q: Determine the average cost function.
A: Cost is a function of the quantity produced. It measured the total cost of producing a given level…
Q: As long as marginal cost is below average cost, average cost will be a. falling b. rising. .…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: In the table, the average variable cost at 2 units of output is
A: Answer to the question is as follows :
Q: Average total cost decreases when marginal cost is average tot. less than greater than equal to
A: Average cost(AC) is the division of total cost(TC) by the total quantity produced. It is the…
Q: Calculate the value of Total cost if average cost is $28 and the no of units is 21
A: The information given to us is:- Average cost = $28 No of units = 21 units We need to find the value…
Q: Define Average unit cost,
A: There are different types of cost in production, total cost, average cost and marginal cost. Total…
Q: Which of the following is not a fixed cost?
A: Fixed cost refers to a cost that does not change with an increase or decrease in the number of goods…
Q: If the total cost function for a product is C(x) = (x+5)° dollars, where x represents the number of…
A: Given, Total cost, C(x)=x+53 The average cost, AC(x) = C(x)/x AC(x) = x+53x To find the units which…
Q: True or False The average total cost cannot equal marginal cost.
A: Average total cost It refers to the total cost per unit of production. ATC = TC/Q where ATC is…
Q: What will be the value of average fixed cost if total fixed cost is $350 and the output is 50
A: Given information: Total fixed cost: $350 Output: 50 To find: Average fixed cost
Q: Total Cost = C(x) = 0,005x^3 - 0,49x Lnx +5x Find : a. Average Cost Function b. Average Cost…
A: Average cost (AC) = C(x) / x AC = 0.005x2 - 0.49 Lnx + 5
Q: if average variable cost is 15, and total variable cost is 180 and total fixed cost are * 120, then…
A: The fixed costs do not change (remain constant) with the change in the quantity of output and the…
Q: While drawing cost curves, the state of technology must be kept constant True/False
A: # Cost curve is drawn taking into use th fixed cost of the firm and the variable cost incurred by…
Q: Why the average variable cost (AVC) and average total cost (ATC) curves are U-shaped (decreasing,…
A: Average variable cost (AVC) The average variable costs (AVC) are calculated by dividing total fixed…
Q: Sea lions have been depleting the stock of steelhead trout. One idea to scare sea lions off the…
A: a. The total cost can be calculated by multiplying each unit with the total cost of producing each…
Q: Calculate the average cost when the total cost for the production of 3 units is $75
A: # Average cost is given as the ratio of total cost and the total quantity produces. That it:- AC =…
Q: Compare and contrast economies of scale and economies of scope. Give an example of each from your…
A: Introduction Economies of scale: Economies of scale occur when the quantity of goods increases and…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- What is the difference between a price analysis and a cost analysisSuppose the fixed cost of building a nuclear power plant is $1 billion. Suppose also that the only variable cost is the labor of Homer Simpson, and he earns $10 per hour. If the plant generates 1,000 kilowatts each hour, and has already generated 1 billion kilowatts, what can you say about the marginal cost of the next kilowatt? (A) The marginal cost is equal to $0.01. (B) The marginal cost is equal to $1.01. D The marginal cost is falling. The marginal cost is rising.Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 25,000 10 35,000 20 40,000 30 43,000 40 45,000 50 46,000 60 47,000 70 47,700 80 48,000 90 48,200 100 48,100 Given the information presented in the previous table, the fixed cost to operate this flight is $ At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 700 550 40 200 60 100 100 Complete the following table by computing total revenue, total cost, variable cost, and profit for each of the prices listed. (Hint: Be sure to…
- Consider an airline’s decision about whether to cancel a particular flight that hasn’t sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Number of Passengers Total Cost (Dollars per flight) 0 35,000 10 55,000 20 65,000 30 67,000 40 68,000 50 68,500 60 69,000 70 70,000 80 70,500 90 70,800 100 70,900 Given the information presented in the previous table, the fixed cost to operate this flight is ___. . At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 800 0 600 20 450 80 150 100 Complete the following table by computing total…Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars. (a) Find the marginal cost at x = 4 units. MC(4) = Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 5th unit is predicted to be $ (b) Calculate C(5) – C(4) to find the actual cost of producing 1 additional unit. Need Help? Read It Watch It
- As a producer and seller of some commodity, you have learned that, if you produce and sell x itmes in a particular month, the following functions can be used to find the cost and revenue: Revenue: R(x)=150x-x^2 and Cost: C(x)=3000+20x. (a) Write a simplified formula for your profit in a particular month, P(x)=R(x)- C(x) (b) Find the "break-even" point(s) (c) How many items should you produce and sell in a month in order to achieve a maximum profit? (d) What is the maximum possible monthly profit? This is the problem and I cannot solve the c and d, could you please help me?Suppose the total cost of producing T-shirt can be TC = 50+2q. The average cost of 5th T-shirt?The total cost (in dollars) of producing x food processors is C(x) = 1600 + 40x-0.1x². (A) Find the exact cost of producing the 61st food processor. (B) Use the marginal cost to approximate the cost of producing the 61st food processor. CHEO (A) The exact cost of producing the 61st food processor is $ (B) Using the marginal cost, the approximate cost of producing the 61st food processor is $
- 1. The cost in dollars to produce x yards of a certain fabric is: C (x) = 84 + 0.16x - 0.0006x2 + 0.000003x3 a)Find the marginal cost function b)Find C '(x) and explain its meaning. What do you forecast? c)Compare C '(100) with the cost of making the 101-th yard.The cost, in thousands of dollars, of airing x television commercials during a sports event is given by C(x) = 150 + 2,600x – 0.06x2. (a) Find the marginal cost function C'(x). C'(x) = (b) Use the marginal cost to approximate the cost to air the 5th commercial. Convert your answer to dollars. The cost to air the 5th commercial is approximately X dollars. (c) What is the exact cost to air the 5th commercial? Convert your answer to dollars. The exact cost to air the 5th commercial is x dollars.Fig 2.1 illustrates the law of diminishing returns in seeking the optimum system (or component) performance and hence the need to balance the performance against the cost. Give examples of two pairs of characteristics other than performance versus cost where optimizing one frequently competes with the other, and briefly explain why they do.
