If a paper mill shuts down its operations for three months so that it produces nothing, its __________________ will be reduced to zero Group of answer choices variable costs fixed costs opportunity costs total cost
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14-If a paper mill shuts down its operations for three months so that it produces nothing, its __________________ will be reduced to zero
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- What is die difference between accounting and economic profit?Cost Per Year Q₁ O Q₂ QQQQ O Q4 TC VC At what level of output does average total cost equal marginal cost? FC OutputOutput TFC TVC TC MC ATC A 25 25 ---- -- ------- 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 marginal cost of the 2nd unit of output? Cannot be determined. 15 25 30 O O O O
- Question 15 From the Graph Provided Below: Non-Linear Break Even Chart 700000 600000 500000 DA0000 6300000 200000 100000 20 40 60 80 100 120 140 Production & Sales Quantity -FC VC -TC Rev - Which of the following options is correct? O I would expect to maximize profit if I produce and sell between 1 and 10 units. O I would expect to maximize profit if I produce and sell 104 units. O I would expect to maximize profit if I produce and sell between 70 and 80 units. O I would expect to maximize profit if I produce and sell between 30 and 40 units.39 Economics Valles Galactic Industries bought a collection of additive manufacturing machines that comes with 200 hours of free maintenance. Hours after 200 cost $200 per hour. What is the average and marginal cost of: a) 130 hours? b) 300 hours?Exercises Calculate the marginal product Total Marginal Product Production Labor Product or Alternative Inputs Output A na B 1 10 10 C 2 25 45 60 70 75 75 70 E 4 5 H 7 Please fill in the blank cells and answer the questions below. Click to see the answers. Alternative Number of Workers Output Marginal Product na B 1 200 2 500 825 1000 300 4 1125 1225 H. 7 1200 1050 8. At what point does diminishing marginal returns set in? At what point does negative MP occur? N3
- Question 3 to the cost of producing the (x + 1)st item? a Can you think of a cost function, so that the marginal cost at any r is exactly equal If yes, describe as many such functions as possible. If not, show why such a function cannot exist. Type here to search 7:00 PM ENG 4/27/2021 Esc Lock F1 F2 F6 F3 F4 F5 F7 Home End Delete F8 F9 F10 F11 F12 Insert %23 $4 & * 7. 4 5 6 Backspace 80 W E R T Y U S D F G H J K L B N M Alt Alt PrtSc Ctrl PgUpQuestion 13 Table 12-3 Quantity 0 1 2 3 4 5 0 Total Cost $10.00 15.00 1750 Average Total Cost $15.00 8.75 7.50 7.50 8.00 875 964 Marginal Cost $5.00 2.50 5.00 7.50 10.00 12:50 22 50 30 00 40 00 52.50 7 67 50 11 85.00 10 63 9 105.00 11.67 20.00 Mary sells basketballs in a perfectly competitive market Table 123 sunemanzes Mary's ouput per day (O), total cost (TC), average total cost (ATC) and marginal cont (MC) 15:00 17:50 Refer to Table 12-3. What will Mary's output bo and how much profit will he ear if the market price of basketbi $7,507 OQ-3, prot- $7.50 OQ-0, prot- $10.00 OQ-4profit-50 O Price and profit cannot be determined from the information givenTable 13-7 The Flying Elvis Copter Rides Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. What is the value of L? Group of answer choices $60 $135 $240 $270
- What is the marginal cost associated with producing three units of the contral variable, O (identify point E in the tablej? 36 Total Total Costs Benefits Benefit Net Marginal Marginal Narginal Net Bеnefit Control variable Benefits Cost MB(0) MC (Q) MND (0) Sepped B(Q) C(0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 4 1,000 2,000 600 400 200 3,500 1,500 2,000 500 500 600 1,800 1,400 3,900 2,100 D -200 4,200 4,400 2,800 300 700 -400 200 100 800 800 -600 4,500 4,500 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 50 100 200 300QUESTION 14 Suppose a busness owner operates her business out of a building that she owns. Also assume that there are ho malntenance or utlity costs associated with the building This means that it is costless for the business owner to use the buildng to operate the business O True O False QUESTION 15 if the 15th unit of output has a marginal cost of s29.50 and the average total cost of producing 14 units of output is 3021 what will happen to the average total cost is the 15th unit is produced? O Average Total Cost will fal. O Average Total Cost will increase O Average Totual Cost could increase or decrease deperiding on whar happets to variable cost O Average Total Cost could inorease or decrease depending.on what happens to fed cost1. mary williams, owner of Williams products, is evaluating whether to introduce a new product line. after thinking through the production process and the costs of raw materials and new equipment, williams estimates the variable costs of each unit produced and sold at $6 and the fixed costs per year at $60,000 a. if the selling price is set at $18 each, how many units must be produced and sold for williams to break even? use both graphic and algebraic approaches to get your answer b. williams forecasts sales of 10,000 units for the first year if the selling price is set at $14 each. what would be the total contribution to profits from this new product during the first year? c. if the selling price is set at $12.50, williams forecasts that first-year sales would increase to 15,000 units. which pricing strategy ($14 or $12.50) would result in the greater total contribution to profits? d. what other considerations would be crucial to the final decision about…
