you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed costs are $40, then total variable costs are: A. $2,000 B. $4,000 C. $6,000 D. $8,000
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20. If you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed costs are $40, then total variable costs are:
A. $2,000
B. $4,000
C. $6,000
D. $8,000
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- The Towson Table Company has fixed costs of $5,000 per month. Variable cost at the current level of output of 100 tables per month is $10,000. Which of the following is true for the company? A. Average cost of production is $150. Average cost of production is $100. C. Average fixed cost of production is $150. Average variable cost of production is $150. B. D.If you know that with 8 units of output, average fixed cost is $30 and average variable cost is $80, then total cost at this output level is: A. $110B. $240C. $640D. $880If you know that total fixed cost is $400, total variable cost is $200, and total output is 4 units, then average total cost must be: A. $150B. $300C. $450D. $600
- In the short run , a firms total cost is $200 if it does not produce any units of output. Its variable cost is $10 per unit . If the firm produces 5 units , variable costs are ____________, while fixed costs are_____________ a) $20; $200 b)$20; $250 c) $50;$200 d)$50;$250 e) $250;$450Using the following table about product X, graph the average variable costs, and answer the following question: Which one is showing a faster decrease in average variable costs? Quantity Total costs 0 125 250 A B C D 375 500 625 750 875 1,000 J 1,125 K 1,250 E F G H 1 $620 $1,620 $1,980 $2,268 $2,592 $2,988 $3,456 $4,032 $4,752 $5,832 $7,272 O moving from I to J moving from B to C O moving from F to G O moving from J to K 4Total variable cost as output increases, and total fixed cost as output increases Select one: A. increases; does not change B. increases; increases C. increases; decreases D. does not change, does not change
- exam 1)Which of the following is most likely to be a fixed cost for a firm? A) The interest payments made on loans B) Cost of fuel for delivery scooters. C) Cost of electricity for the machines. D) Taxes on Profits. cher chat mit exam 2) The costs that does not depend on output in the short run are A) total fixed cost only. B) total variable costs only. C) total costs only. D) both total variable costs and total costs. 3) Fixed costs are A) fixed by contracts. B) fixed by law. C) fixed with respect to time. D) fixed with respect to quantity produced. 4) The formula for average variable costs is A) VC-q. B) VC/g. C) a/VC. . D) Aa/ AVC. 5) Mareinal.cost is Tmes 71:25 96 % BIU x x XTEB6A Jeamet 13] Ce LA RA O Satoer H K F 10 145 B Ce O AiM 1hesenaet Altfast please10. Refer to the table to the right which shows cost data for Lotus Lanterns, a producer of whimsical night lights. What is the average variable cost per unit of production when the firm produces 90 lanterns? Part 2 A. $490 B. $5.45 C. $33.67 D. $7.67Section 11.5 The Short-Run and Long-Run Average Total Cost Curves exhibit 1 SRATC for small plant SRATC for medium plant SRATC tor large plant LRATC B $500 $400 Economies of Scale Constant Returns to Saie 1,000 1,200 Quantity of Computers (per day) Notice that the long-run average total cost (LRATC) curve is much flatter than the short-run average total cost (SRATC) curve. This is because firms can be more flexible in the long run-they can choose which short-run cost curve they want to operate along, by choosing their plant scale. But they cannot do this in the short run, during which they are stuck with their existing short-run cost curve. That is, in the short run, the firm operates with the short-run curve it has based on past decisions. However, in the lang run, the firm is able to choose the short-run curve it wants to use. In Exhibit 1 above, explain why the curve between A and B looks different than the curve from A to C. Provide an example of how a firm could opt to follow the…
- Tony's Pizza Company has some missing cost data and needs your help to provide the missing data in the following table in spaces identified as A, B, C, D, E, F, G& H. (0.5x8=4 Marks) TOTAL OUTPUT TC AFC AVC ATC MC 1 110 60 50 A - 2 150 B C 75 40 3 D 20 45 65 45 4 260 15 E F 65 5 330 G 54 66 H You have been also given following additional info- All costs are in $ Total fixed cost of company is $ 60Suppose an artist produces 6 paintings. If fixed costs are $200 and variable costs are $100, then average profits are $10 average total costs are $50 O total costs are $600 average variable costs are $160QUESTION 11 If you have the following table that shows the costs of certain firm Quantity (Q) Fixed cost Variable costs Total cost Marginal cost (MC) (FC) (VC) (TC) 0. 10 22 4. 4 27 23 6. 1. Based on the aoove table, does the firm operate in short run or long run?WHY? 2. Based on the above table, what is the value of fixed costs if the firm produces 3 units? 3. Based on the above table, what is the value of marginal costs at 4 units? 4. Based on the above table, what is the value of Average Total Costs (AC) at 5 units? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px
