Designated cost incurred by the short-run firm. Select one: a. fixed cost b. total cost c. variable cost d. average cost

Q: Explain the influence of costs in the short run on a firm's output

A: Short-run is a period of time when there is some cost which cannot be varied.

Q: Quantity Average Fixed Cost Average Total Cost 1 140 2 75 3 60 4 55 5 54 6 20 60 Short run…

A: Diminishing returns to production starts where marginal cost increases with an increase in output,…

Q: 36) In the short run, if marginal product is A) above; decreasing B) below; decreasing C) above;…

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

Q: 1. Based on the above table, does the firm operate in short run or long run?WHY? 2. Based on the…

A: The missing entries in the cost table of the firm have been computed as follows:  Quantity Fixed…

Q: a) Fill in the table above b) Does this firm operate in short run or long run? Explain why? c)…

A: 1) TCn = TCn-1 + MCn 2) MCn = TCn -TCn-1 3) TC = TFC + TVC 4) AFC = TFC / NUMBER OF UNITS 5) ATC =…

Q: he short-run and long-run average cost functions of a firm are generally U-shaped. This implies high…

A: In economics, a CF {"cost function"} is described as a function of an output quantity and P {prices}…

Q: Alejandro is one of the leading ceramic vase producers in the country. His total costs (TC) amount…

A: Average total cost = Total cost/ Output.

Q: When are you are you expecting companies to produce in the short run? A. costs equal equal revenue…

A: A firm tends to earn positive profits when its  earned revenues can cover its total costs.

Q: DEFINE AND EXPLAIN PRODUCTION IN SHORT RUN

A: In the production process, different inputs are used to produce the final output. Each input has its…

Q: Explain how the Average Total Cost curve is derived for a competitive firm in the long-run. Also,…

A: In the long run the firms do not have any fixed cost as none of the factor inputs are considered as…

Q: 2. Fill in the table Bar of Total Soap Fixed (Quantity) Cost 100 P1,000 200 1,000 300 1,000 400…

A: We use the following formulas to fill the above table: 1) Total Cost = Total Fixed Cost + Total…

Q: Quèstion 33 The increase in total cost that results from producing one additional unit of output is…

A: Average Fixed Cost is the total fixed cost per unit of output.  Average Variable Cost is the total…

Q: marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to…

A: The total average cost is defined as the aggregate of all costs of production at a given level of…

Q: What are examples of fixed and variable costs in a fast food restaurant?

A: Total fixed cost (TFC)is defined as those cost which a firm must pay irrespective of its level of…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) calculate Total…

A: Total cost is the total expenditure of the producer in the production process. The cost includes the…

Q: A. A firm’s fixed costs for 0 units of output and its average total cost of producing different…

A: A. Fixed costs are those costs which a company has to incur irrespective of any business activity…

Q: Your company sells Beyonce concert DVDS. Total fixed costs for your operation are $10,000 a year.…

A: Shut down When a corporation chooses to shut down, it means that production will be put on hold for…

Q: Draw the marginal cost and average total cost curves for a typical firm. Explain why the curves have…

A: A bend/curve that graphically represents the connection between the marginal cost caused by a firm…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) Calculate Total…

A: Broadly, Total Cost is the summation of Total Fixed Cost and Total Variable Cost. TFC is the fixed…

Q: a. Calculate and fill in the column of marginal products. What pattern do you see? How might you…

A: Marginal product of labor refers to the amount of additional output that obtained by increasing one…

Q: What is the difference between accounting profit and economic profit? Select one: a. Accounting…

A: Firms earn revenue with the help of the sale of the products that it produces. On the other hand, it…

Q: When diseconomies of scale occur: A. the long-run average total cost B. marginal cost intersects…

A: The total cost is the total expenditure on goods and services. Total cost includes both the variable…

Q: Ball Bearings, Inc., faces costs of production asfollows:Quantity (cases) Total Fixed Cost Total…

A: There are two components of Total cost (TC) - Total Variable Cost(TVC) and Total Fixed Cost (TFC).…

Q: A special shoe manufacturer ABC Co. has costs of production as follows :…

A: a. Following below is the schedule for the Average fixed costs (AFC), average variable costs(AVC) ,…

Q: Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a…

A: As we answer 3 subparts and the question has more than 3 subparts, we would be answering the first 3…

Q: .The output at which average product is a maximum is the same output at which is a minimum اختر أحد…

A: Total physical output or total product divided by the quantity of input employed gives the average…

Q: In the short run, if marginal product is at its maximum, then A) average cost is at its minimum B)…

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

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: Total fixed cost (TFC): - it is the cost incurred on the fixed capital assets like land, building,…

Q: 22) The marginal cost curve intersects the ________ at its minimum. A) average variable cost curve…

A: Marginal cost MC gives the change cost due change in production by one unit. Average variable cost…

Q: a) construct the cost schedule for a firm operating in the short run b) Graph the average variable…

A: Cost refers to the monetary value which has been spend by the producers and consumers for purchase…

Q: What are fixed costs?  What are variable costs?

A: Hi student, As per the guideline we are providing answer for one question. Since you are requested…

Q: When diseconomies of scale occur: CA. the long-run average total cost B. marginal cost intersects…

A: The average total cost (AC) is the per unit cost of production of the firm. The long run average…

Q: a) "The above production schedule shows that the firm is producing in the long run because quantity…

A: Answers   1) The labour cost is BDT 25 and the capital cost is BDT 25. a) This statement is false…

Q: c) The table below contains cost information pertaining to a hypothetical firm operating in the…

A: The total cost of the firm refers to the monetary value of inputs used by the firm for the…

Q: When marginal cost equals average variable cost, average variable costiv (Click for List) falling…

A: Average variable cost is per unit variable cost on the other marginal cost is an additional cost…

Q: Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant)…

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

Q: Using the following table a) construct the cost schedule for a firm operating in the short run b)…

A: The cost structure of a firm is important in determining its profits. It helps a firm in knowing how…

Q: Q. %3D W=r=| C= LtK What is the LoNG Run:TC, AC, MC TOTAL COST Average Total cost Marginal lost

A: Production Function : Q=L1/2K1/2 Cost of Labor=wage=1 Cost of capital=rental rate=1 Cost=wL+rK…

Q: 16 14 12 LATC 10 AVC 6 4 MR 70 80 90 100 110 120 10 20 30 40 50 60 Total Cost Total Variable Cost…

A: Answer: The equilibrium in this market will occur where the marginal revenue (MR) curve and marginal…

Q: Melody Music Store has a total cost function of TC = 500 + 10Q + 5Q?. (a) Find the firm's fixed…

A: Total Cost is defined as the sum of Fixed Costs plus Variable Costs. Fixed Costs are those costs…

Q: Explain the production in short run?

A: Microeconomics studies the economic behavior of individual units such as a consumer, a producer, a…

Q: Using the following table a) construct the cost schedule for a firm operating in the short run b)…

A: Revenue: It refers to the profit that is earned by the firms when they produce more goods and…

Q: 5. Economies of scale occur when a. the long run total cost is decreasing b. the long run total…

A: Answer to the question is as follows :