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- The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. Average fixed cost will decrease. Average variable cost will increase. Average total cost will increase. Marginal cost will remain unchanged. Which of the following statements is true as a result of the per-burger tax? Check all that apply. Average total cost will remain unchanged. Average fixed cost will decrease. Marginal cost will increase. Average variable cost will increase.The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. Average variable cost will remain unchanged. Marginal cost will decrease. Average fixed cost will increase. Average total cost will remain unchanged. Which of the following statements is true as a result of the per-burger tax? Check all that apply. Average variable cost will increase. Average total cost will remain unchanged. Marginal cost will increase. Average fixed cost will decrease.The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. Marginal cost will increase. Average fixed cost will increase. Average variable cost will remain unchanged. Average total cost will increase. Which of the following statements is true as a result of the per-burger tax? Check all that apply. Average fixed cost will increase. Marginal cost will remain unchanged. Average variable cost will increase. Average total cost will increase.
- The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. Average total cost will increase. Average fixed cost will increase. Marginal cost will increase. Average variable cost will remain unchanged. Which of the following statements is true as a result of the per-burger tax? Check all that apply. Average total cost will increase. Marginal cost will remain unchanged. Average fixed cost will increase. Average variable cost will increase.The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. оооо Marginal cost will decrease. Average total cost will remain unchanged. Average fixed cost will increase. Average variable cost will remain unchanged.The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. Which of the following statements is true as a result of the lump-sum tax? Check all that apply. Marginal cost will remain unchanged. Average total cost will increase. O Average fixed cost will decrease. O Average variable cost will increase. Which of the following statements is true as a result of the per-burger tax? Check all that apply. Average total cost will remain unchanged. Marginal cost will increase. O Average variable cost will increase. Average fixed cost will decrease.
- The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. a. Which of the following curves—average fixed cost, average variable cost, average total cost, and marginal cost—would shift as a result of the lump-sum tax? Why? Show this in a graph. Label the graph as precisely as possible. b. Which of these same four curves would shift as a result of the per-burger tax? Why? Show this in a new graph. Label the graph as precisely as possible.Fill in the blanks: Consider the following data: equilibrium price is 9.50, the quantity of output produced is1,000 units, the average total cost is 8, and the average variable cost is 6. Given this, the total revenue is Continue >5. A firm has two plants (A) and (B) for production. The Total cost function for each is given by: TCA = 12 + 7QA - 2QA2 + 0.72QA3 and TCB = 5 + 3QB + 1.5QB2 where TCA and TCB are total costs and QA and QB are quantity produced from each plant. The firm wishes to minimize the cost of producing any given amount of product. It is also known that in allocating the products to the two plants, the firm must produce 20 bags. Find the minimum values of QA and QB and confirm that the cost is minimised
- In a furniture market, if a furniture company is analyzing the short run total costs, one of the following business practices would be beneficial. Which one? divide the variable costs of production by the quantity of output divide the total costs of production by the quantity of output divide total costs into two categories: fixed costs that can't be changed in the short run and variable costs that can be. divide total costs into two categories: variable costs that can't be changed in the short run and fixed costs that can be2.4 Water is produced and sold by the government. Demand for water is represented by the linear function Q=50-2P. The total cost function for water production is also a linear function: TC(Q)= 100+ 100. You will also need to work out both the average cost of production, denoted by AC(Q), equal to the total cost of producing a quantity of output divided by that quantity of output, TC(Q)/Q, and the marginal cost of production, denoted by MC(Q), which is the additional cost incurred to produce one more unit. a. What fee should the government charge per unit of water in order to reach the efficient allocation? b. How much should it charge if it wishes to maximize profit from the sale of water? C. What is the value of the efficiency loss that results from charging the price in part b rather than the price determined in part a?Given the input-output matrix below, find the output matrix if final demand changes to 500 for water, 180 for electric power, and 800 for agriculture. Industry Electric Power Industry: Water Electric Power Agriculture Other Water 200 100 300 400 The output matrix is X= (Round to two decimal places as needed.) 480 120 240 360 Agriculture Final Demand 180 240 120 60 290 140 600