An Accountant would say that total costs equal out-of-pocket costs plus opportunity cost. O True O False

Q: Total Cost AVC AFC ATC MC -- -- 1 25 40 65 a5 20 16 20 216 25 29 3 15 20 25 4 105 145 4 (15) For any…

A: Since you asked for only drawing the diagram, we are doing that only.

Q: Completed 58 out of 60 uestion 31 of 60 If output falls below equilibrium, marginal cost will be…

A: The output falls below equilibrium then there is a shortage where Qd>Qs and the marginal cost is…

Q: Engle sells chess sandwiches. The cost of ingredients (bread, meat, spices, etc.) to make a sandwich…

A: Total cost is the sum of total fixed cost and total variable cost.  Average cost is given as the…

Q: he marginal cost of driving a mile is $0.33. (Round your response to two decimal places) an deciding…

A: The answer is as follows:-

Q: You just bought a motorcycle for $8,000. You plan to ride the motorcycle for two years, and then…

A: Total cost is the cost that includes fixed cost as well as variable cost in the production process.

Q: When making decisions, which of the following costs should be ignored? O average costs ) sunk costs…

A: The firm produces the goods and services and results in the cost of the production. The firm uses…

Q: a cost but accountants would not? O the interest income given up by the firm's owner because the…

A: For the most part, implicit expenses should be assessed and are not straightforwardly quantifiable,…

Q: The expenses incurred on the variable factors are called O a. Fixed cost O b. Variable cost O c.…

A: Economics is a discipline that is associated with the economic principles of production,…

Q: Table 7-1 Quantity Variable Cost Total Cost 1 25 40 45 60 3 60 75 4 70 85 5 85 100 6 105 120 132 147…

A: Variable cost: It is the cost that is incurred by a firm on the variable factors of production, the…

Q: the cost of producing 5-gallon water bottles is given by C(q)=0.005^2+2q+1000. If 2000 5-gallon…

A: C(q) = 0.005q2 + 2q + 1000 Given  Quantity (q) = 2000

Q: Which of the following would be an implicit cost of operating a golf course? O the cost of not…

A: The price paid for products and services produced or given is referred to as the cost. There are…

Q: A D Quantity (units per day Curve C represents which type of cost curve? O A. marginal cost (MC) B.…

A: Average total cost is the sum of average Fixed cost and average variable cost. Average Fixed cost…

Q: Mr. Juarez produce widgets. Currently, Mr. Juarez produces 4 widgets at a total cost of $50. a. What…

A: Average total cost is calculated by dividing total cost by quantity. Average total cost =(Total cost…

Q: Which type of cost does depend on a firm's output? Select one: O A. marginal cost O B. total cost O…

A: Fixed cost is the cost that is incurred on fixed factors and does not change with the level of…

Q: Suppose Lorenzo is currently using co per day. Now, suppose Lorenzo is currently usi per day. From…

A: The possibility curve shows various combination of two goods that a producer can produce by using…

Q: Which of the following statements is true? a. If the marginal cost curve is above the AFC curve, the…

A: The AFC curve continues to fall with rise in output. The AFC curve is in decreasing shape. Average…

Q: Production Total cost 80 1 100 2 115 3 140 4 170 210 Assume that these are the costs of production

A: In perfectly competitive market, firms produce identical goods. Firms do not have any control over…

Q: Suppose Joann knows the average total cost of producing 9 gallons of ethanol is $5, while the…

A:

Q: Which type of cost does depend on a firm's output? Select one OA marginal cost O B total cost C…

A: Fixed cost is the cost that is incurred on fixed factors and does not change with the level of…

Q: Total cost is equal to average cost times marginal cost. a. True O b. False

A: # Total cost is referred to be as the sum of total fixed costs and the total variable costs which…

Q: The objective of this activity is to test students understanding of the various components of the…

A: Note:- Since we can only answer one question at a time, we'll answer the first one Please repost the…

Q: An explicit cost is defined as a cost that involves spending money. a cost that does not change as…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: For any given level of output Select one. O A. marginal cost must be greater than average cost B.…

A: We know that the relationship between MC and AC is as follows -  When MC<AC, AC is falling, When…

Q: Which of the following is true at the output level where average total cost is at its minimum? OA.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Quèstion 25 Opportunity cost is considered as: O Implicit cost O Explicit cost O Accounting cost…

A: Opportunity Cost is the value of next best alternative (which is available after choosing the…

Q: Diseconomies of scale are present when. Select one or more: O a. total costs fall as output rises O…

A: Large firms may experience economies of scale or diseconomies of scale as their output grow.

Q: For any given level of output Select one O A marginal cost must be greater than average cost ов…

A: We know that the relationship between MC and AC is as follows -  When MC<AC, AC is falling, When…

Q: Ahmed's Pizza House sells extra-large deluxe pizzas at OMR 9.000 per pizza. The cost of ingredients…

A: Total cost includes total fixed cost(TFC) and total variable cost(TVC). Total fixed costs are the…

Q: Next, fill in average total cost in the table. (Enter your responses as real numbers rounded to two…

A: Average total cost is the cost per unit. It is the ratio of total cost and output

Q: Quilts alters, reconstructs and restores heirloom quilts. Cassie has just spent $800 purchasing,…

A: The marginal cost represents the change in the total cost of production that results in one new unit…

Q: A purchaser just paid $32,552.94 for a pickup truck. If 48% was the seller's markup, based on the…

A: Let C be cost and S be selling price. Then, Mark-up on selling price = (S - C) / S (S - C) / S =…

Q: Payment made to others is known as O a. Implicit cost O b. Production cost O c. None of these given…

A: When a firm or individual makes a payment to someone else, in the form of salary or rent, etc. It is…

Q: At the minimum-cost output OA. average variable cost must equal marginal cost. B. average fixed cost…

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Q: irs of shoes their total cost is $500. Elliot's arginal cost to produce the 31st pair of shoes is 1.…

A: Average total cost = total cost/quantity Marginal cost is the additional cost incurred in order to…

Q: Other things being equal, an increase in the average product of labor in steel production will…

A: The total output amount which could be produced by a firm with the given labor quantity is being…

Q: Capital (K) Q= 100 Labor (L) The firm's optimization problem is to minimize total cost for a given…

A: Cost of production is minimized at the point of tangency of isocost and isoquant curves.

Q: PPF is based on Select one: a. Indirect cost O b. Opportunity cost c. Variable cost O d. Fixed cost

A: The production possibility frontier (PPF) the combination of two goods and services which can be…

Q: QUESTION 3 Let c(w1; w2; y) be a cost function, and let A > 1. We have: Oa. ( A w1; Aw2: y) = c(w1;…

A: Hi there , as you have posted multiple question, as per our guidelines we are only allowed to answer…

Q: While reviewing a page of cost details provided by your accountant, you spill coffee on it and make…

A: Total Cost = Fixed Cost + Variable Cost  Marginal Cost is the additional cost incurred by the…

Q: In a short-run production process for computer software, the average total cost (ATC) is increasing…

A: "Since you have asked multiple questions, we will solve first question for you .. you want any…

Q: The concept of marginal cost is best described by which of the following? O Mr. Creosote meets a…

A: Marginal cost refers to those cost that firm incurs when it decides to produce an additional unit of…

Q: If AFC is $18 at a quantity of output of 200 units, and ATC is $27 at the same quantity of output,…

A: Total Cost is the total expenses incurred by producer when they produce goods and services , it…

Q: QUESTION 2 An isocost line reveals the OA costs of inputs neoded to produce along an expánsion path.…

A: In a market, when a firm purchases input resources, it will be considered as cost or outlay of…

Q: 9. What is the Average Total Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 g) 120 Oh) 160

A: Introduction Total cost is the function of output. Total cost is the addition of total fixed cost…

Q: The concept of marginal cost is best described by which of the following? Mr. Creosote meets a wafer…

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Q: Explain Implicit and Explicit cost with the help of suitable example?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The table below shows Lanark's production possibilities. A B D F Wheat 160 280 146 360 400 416 Cars…

A: Production possibility frontier (PPF) curve shows different possible combination of two goods that…

Q: Is a type of cost which does vary with the unit of production and will change with the number of…

A: cost refers to the monetary worth of products and services purchased by producers and customers.…

Q: As output increases, marginal costs willeventually incrense a average total cost increases O…

A: As there is an increase in the level of output, there comes a rise in the level of marginal cost…