Which of the following is a typical example of a fixed cost of production in a business firm? A. Property taxes B. Raw Materials C. Wages paid to hourly employees D. Sales taxes due
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Which of the following is a typical example of a fixed cost of production in a business firm?
A. Property taxes
B. Raw Materials
C. Wages paid to hourly employees
D. Sales taxes due
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- Which of the following is an implicit cost to a firm that produces a good or service? A. Labor costsB. Costs of operating production machineryC. Foregone profits of producing a different good or serviceD. Costs of renting or buying land for a production siteA firm had sales revenue of $1 million lastyear .Its pent $600,000 on labor,$150,000 on capitaland $200,000on materials. What was the firm’s accounting profit? the firm’s factory sits on land owned by the firm that it could rent for $30,000 per year. What was the firm’s economic profit last year?A firm had sales revenue of $1 million last year. It spent $600000 on labor, $150000 on capital and$200000 on materials. What was the firm’s accounting profit?
- A firm had sales revenue of $ 1million last year.It spent $600, 000 onlabor,$150,000 on capital and $200,000on materials. What was the firm’s accounting profit?Which of the following is a typical example of a variable cost of production in a business firm? A. Property insuranceB. Property taxC. Raw materialsD. Wages paid to salaried employeesAlan buys a basket of apples on sale for $7 before tax. The sales tax is 12.5%. What is the total cost for the basket of apples?
- 0 Labo capit total Labors ur al product $20 FC 5 15 1 10 1 1 1 20 1 Question 6 Mr-Ali Alawi recently set a shoe manufacturing outlet. He is planning for production demand, labor requirement, fixed cost, variable cost, the revenue. He come up with the following schedule. Help him to fill up the schedule. Initially he plans to use one machine. Total fixed cost per month is expected to be $1000. The unit cost of labor is estimated to be $20. 0 25 75 100 VC=# of 150 0 100 200 300 1000 total Cost(FC+VATotal cost/ C) 100 1000 120 1000 140 1000 160 Marginal cost(MC) 400 1000 180 ATotal Product Total Revenue Profit2/4 class 2 revenue Microsoft PowerPoint View Text Direction Shape Fitl Shape Outline u6ite -Convert to SmartArt Arrange Quick Styles Drawing Shape Effects Paragraph The following table presents the price, cost and production of Samsung mobile company in 2020. In the short run, the price of the commodity is Rs.4.00 that is fixed by management. Answer the following questions by using the data given from the management. •By using these data table, calculate the company's other costs such as Average Fixed Cost (AFC), Total Cost (TC), Marginal Cost (MC), Average Cost (AC), Variable Cost (VC), Average Variable Cost (AVC), Total Revenue (TR), Marginal Revenue (MR), Average Revenue (AR) and profit (n). •Find out the breakeven point and indicate the equilibrium quantity and price for the company. •Draw diagrams for AFC, AVC, AC, MC, TC, TR, MR and AR of the Samsung mobile company. Quantity Total Cost Variable Cost 21 Rs.28 Rs.110 Rs.64 6. Rs.144 8. Rs.104 10 Rs.192 13. 2. Rs 264 Rs.162 1. 22…Why does the marginal cost of production typically increase as the amount of output produced increases? a.A fixed factor of production causes diminishing marginal product b.Increasing returns to scale c.There are no fixed factors of production d.Decreasing returns to scale
- The tapie pelow Cotains pricerdemand and total cOSt data Tor the production of treadmilis, where p is the wholesale price (in dollars) of a treadmill for an annual demand of x treadmills, and C is the total cost (in dollars) of producing x treadmills. p ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p= ax + b, where a is rounded to 1 decimal place and 6 is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x as the independent variable: C(x) = cx + d, where c is rounded to the nearest integer and d is.rounded to the nearest 10,000. To Do Notifications Dashboard CalendarIf total revenue is $550 and price per unit is $55 What is the value of output sold?The level of output at which average total costs equal áverage revenue or market price is: (a) The shut down output LTH€ breakeveni output O The marginal physical product (d) The marginal value product