Which of the following would increase a firm's average total costs? economies of scale an increase in input prices an improvement in technology an increase in demand for the firm's product

Q: Use the table below to answer the following question. Units of Output Total Fixed Cost Total…

A: Marginal cost is the change in total cost due to per unit change in production. MC cuts AC curve and…

Q: A firm faces the following costs: total cost of capital = $4,000; price paid for labor = $20 per…

A: Given : Total fixed cost = $4000 Price paid for labour= $20 per unit  price paid for raw materials=…

Q: regarded as costs by accountants but not by economists. B. payments that a firm makes to other firms…

A: Economic profit= total revenue- total cost

Q: Using your knowledge of cost formulas and calculations for a firm producing in the short run, redraw…

A: Total fixed cost is the cost of all fixed inputs and expenses required to produce output during a…

Q: Solve the attachment.

A: The firms incur costs as per their production processes and other requirements to maintain and make…

Q: Rising short-run average variable costs of production for a firm indicate that   Question 4 options:…

A: Average variable costs are the costs incurred on variable factors or inputs per unit of output. The…

Q: When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases…

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

Q: Marginal cost is the:  rate of change in total fixed cost that results from producing one more unit…

A: Marginal cost by definition is the cost incurred for producing an extra unit of the good or…

Q: Boeing is a producer of aircraft. Determine whether each of the following are fixed costs or…

A: Total cost is the sum of fixed and variable costs. Total fixed costs are the total obligation of the…

Q: Refer to the graph shown above. Based on the information illustrated in the graph, which of the…

A: Answer - Need to find- Correct option - Given in the question-

Q: The MC curve must be * rising when TC is rising. less than AFC when the average cost is rising.…

A: Every production unit incurs certain amount of costs during production processes. These costs are…

Q: Costs which increase with an increase in output are called________________ Costs which do not…

A: There are two main components of the total cost(TC) that a firm incurs. One is the variable cost(VC)…

Q: Fixed costs differ from sunk costs in that a firm can avoid fixed costs by not producing anything

A: Avoidable costs are costs that do not occur if the activity is not performed. For example, supply…

Q: Diseconomies of scale occur when:A) average total cost increases as output increases.B) average…

A: The process of production is the combining of the raw materials and the skills and knowledge of the…

Q: Which of the following would be the best starting point on which to focus if an air conditioner…

A:

Q: If both the fixed and variable costs associated with a product decrease, what will be the effect on…

A: The breakeven point is determined by partitioning the fixed costs of production by the cost per unit…

Q: Which one of the following would be regarded as a variable cost for a firm?   Select one: a. the…

A: Meaning of Variable Cost: The term variable costs are those cost which changes or fluctuates, as…

Q: Normal profits are Multiple Choice   the profits reported by accountants on a firm's annual…

A: ANS Profit is given by subtracting Total Cost (TC) from Total Revenue (TR). Mathematically it is…

Q: The long run is a period of time, or a time frame, in which        all resources are fixed.…

A: A long run in the economics is the time when the manufacturers and producers have the flexibility of…

Q: Evaluate the view that the main goal of firms will always be cost minimization.  You are interested…

A: 1) The main goal of the firm is cost minimization. This is because if the firm minimises the cost,…

Q: rising with output increase Long Run Average Total Costs are decreasing with output increase  Long…

A: Increasing returns to scale occurs when the output tends to increase in a greater proportion as…

Q: A firm produces 300 units of output at a total cost of $1,000. If fixed costs are $100, average…

A: Cost: It refers to the value of goods or services in the terms of money.

Q: Short-run average total cost      shows the minimum average total cost for each level of output…

A: Answer: Correct option: option 4 (might have a flat portion that indicates a constant average cost…

Q: QUESTION 3 Match each of the following terms and descriptions Fixed Cost Total Cost A. fixed cost…

A: Fixed cost is that cost which are not changed as output changed its remains constant. That means if…

Q: How does learning by doing affect average total costs? Short-run average total costs will remain…

A: Learning by doing is a process of achieving productivity through practice, innovations, and…

Q: When a firm is experiencing economies of scale, long-run Group of answer choices average total cost…

A: Economies of scale is a situation in economy where the organizations or firms are able to produce…

Q: If an increase in output size results in reductions in average costs, this is known as:…

A: An increase in the level of production increases the size of the output. This leads to a fall in the…

Q: Implicit costs are Multiple Choice ) the same as economic costs. comprised entirely of actual…

A: When computing the cost associated with a specific task or event, an individual looks into two types…

Q: The gap that exists in a graph between total costs and fixed costs represents the variable costs of…

A: Total cost is the sum of variable and fixed costs. TC = TVC + TFC

Q: The marginal cost curve is generally ______________, because diminishing marginal returns implies…

A: The economic cost compares the benefits and drawbacks of various options. It does this in terms of…

Q: Which of the following is wrong? Select one: a. Economies of scale refer to the production of two or…

A: Long run average cost curve is locus of minimum point of the short run average cost curve.

Q: At quantities less than the long-run minimum cost per unit of output, the long run average total…

A: At quantities less than the long-run minimum cost per unit of output that is quantities less than Q…

Q: Which of the following sources of low costs is most popular? Group of answer choices   Economies of…

A: Cost is minimized when large output can be produced with limited resources and available technology.…

Q: Jeb owns a small marketing company, which he operates from a home office. Jeb’s home office is an…

A: Fixed Cost remains same at all levels of output. Marginal Cost is the additional cost incurred while…

Q: Minimum efficient scale for production of a good or service: Select correct one : a) is the point…

A: Answer: option c (is the rate of output at which long-run average costs reach a minimum)…

Q: Distinguish between/among The short run total fixed cost, total variable cost and total cost.

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: Use the table below to answer the following question. Units Total Fixed Cost Total Variable of…

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total fixed cost…

Q: Suppose a firm's long-run average cost is increasing as the firm produces more output. Then the firm…

A: Long-run average total cost is a business metric that represents the average cost per unit of output…

Q: A firm faces the following costs: total cost of capital = $4,000; price paid for labor = $20 per…

A: Total cost before improvement = 4000 + (20*200) + (500*8) = 4000 + 4000 + 4000 = $ 12000

Q: Which of the following is always true?A) When marginal costs are less than average total costs,…

A: Below are the cost curves: (Sorry it’s a free hand diagram so it is not very neat)

Q: The average fixed cost curve a. always rises with increased levels of output b. declines as long as…

A: The average fixed cost is the per unit fixed cost incurred in the production process as it is…

Q: Variable costs are         sunk costs.        costs that change every day.        costs that change…

A: Costs are the expenses that a firm has to incur in the production of goods and services.

Q: A student has just written on an exam that, in the long run, fixed cost will make the average total…

A: Long run: Long run refers to the time period that necessary to increase the production capacity or…

Q: Firms are facing a lot of challenges when dealing with their costs of production. Analyze a fixed…

A: Fixed cost refers to the cost of production that the firm has to incur irrespective of output. This…

Q: manufacturer!s total cost is C(x) = 0.1x3 - 0.25x2 + 300x + 100 dollars, where x is the level of…

A: We calculate the total cost with x=6 and x=6.1 and then see the difference. TC(6) = 0.1(6)3 -…

Q: A firm’s total fixed cost is $360,000. Construct a table of its total and average fixed costs for…

A: Fixed Cost remains same at all levels of Output. Average Fixed Cost = Total Fixed Cost / Quantity

Q: The output level at which long-run costs are minimised is known as: (a)  Average fixed cost; (b)…

A: Total cost is the cost incurred by the firm on hiring factors of production to produce the final…