teve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $450,000 per year. Last year, Steve sold 1,200 bikes. Steve’s average variable cost was __________ per bike.   Question 7 options:   A)  $1,000   B)  $1,200   C)  $375   D)  $625

Q: Completed 58 out of 60 uestion 31 of 60 If output falls below equilibrium, marginal cost will be…

A: The output falls below equilibrium then there is a shortage where Qd>Qs and the marginal cost is…

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A: Cost classification is done on the basis of various types. Types of cost Nature of expense…

Q: Question 3 A Toyota Camry costs $19,600 and has an average gas mileage of 30 mpg while Prius costs…

A: Given; Toyota Camry costs= $19600Mileage= 30mpgPrius Costs=$23000Mileage= 50mpgCost of 1 gallon gas=…

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A: Accounting cost is the cost that is seen as money out from the bank account and recorded in the…

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A: Cost function; C = F + V × Q)                           =$55,000 + ($0.4 x Q)…

Q: 6. The cost that vary accordingly to the volume of output is _____________. a. Fixed cost b. Both…

A: The aggregate cost that is incurred in the process of production on a particular commodity is called…

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A:

Q: Total revenue minus explicit and implicit costs equals which of the following? excess profits O…

A: The total amount of income being generated by a company through the sale of its goods and services…

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Q: Hau Lee Furniture, Inc., spends 60% of its sales dollars in the supply chain and has a current gross…

A: Here, we calculate the given as follow;

Q: Question 1 Refer to the information provided in Table 8.2 below to answer the question(s) that…

A: TVC = TC- TFC TVC = AVC*Q TC = ATC*Q TFC = AFC*Q Quantity TVC MC AVC TFC TC AFC ATC' 0 0…

Q: 5. In multiproduct situations, when sales mix shifts toward the product with the highest…

A: Calculating the break-even point in a multi-product context is more complicated, and it's normally…

Q: Total cost is equal to average cost times marginal cost. a. True O b. False

A: # Total cost is referred to be as the sum of total fixed costs and the total variable costs which…

Q: 4. (a)Calculate the Breakeven point for Triple P Pizza in dollars. Fixed Costs: $1.45 Million Sales…

A: Fixed Cost = 1450000 Selling Price = $17/pizza Variable Cost = $6.75.pizza

Q: #6 Multiple choice For each size plant a manufacturer could build, there is a different A. long run…

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Q: A microbrewery was built in 2014 at a total cost of $650,000. Additionalinformation is given in the…

A: Weighted index for 2020 (in terms of 2000 indices) can be calculated as follows.

Q: Martinez Company's relevant range of production is 7,500 units to 12,500 units. The unit costs when…

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A: Total cost:Total cost for quantity 0 can be calculated as follows:

Q: 4. Maggie Bakery has total costs of 3s +75s + 75 and she sells 10 cookies, her average variable cost…

A: (Since you have asked multiple questions, we will solve the first question for you. If you want any…

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Q: open Text, a nypotnetical firm in waterioo, has TFC of $200, TVC is $600, and TP iS 4 units, then:…

A: Total cost is determined when we add total fixed cost with total variable cost.

Q: a. Define explicit costs and implicit costs.   b. Assume the following: * A firm buys a unit of…

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Q: Joe quits his computer programming job, where he was earning a salary of $60,000 per year, to start…

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A: It is given that the worker fell from the roof of a 2-story building and incurred head fractures. He…

Q: TC = 4,500 + 5Q2 MC = 10Q What is the average total cost equation? a. b. C. d. ATC= 4500Q + 5 ATC=…

A:

Q: Steve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000,…

A: Total cost refers to all costs incurred by a firm in producing a certain level of output. Total cost…

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A: Total cost is the cost expenditure incurred on the production of the goods or services by the firm.…

Q: produce instructional materials for disabled children in public school districts. The owner rents…

A: Total fixed cost is independent of output produced.

Q: 1. List the explicit costs and then list the implicit costs . Be sure to properly LABEL them so that…

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Q: Can you please answer parts d & e below only as you have answered the first 3 parts previously:…

A: Given; Fixed cost= 50000 Average variable cost= 10000Q+Q20000

Q: 1. A firm estimates its production function as 2 Q = -2.4 + 20*L -.5*L< + 30*K -1.00*K² + 15*F…

A: Q= -2.4 + 20L - 0.5L2 + 30 K - K2 + 15F - 0.3F2 TC = 2L + 2.5K + 1.75F w = 2, r = 2.5, f=1.75 (the…

Q: A firm is producing 20 units with an averagetotal cost of $25 and a marginal cost of $15. Ifit…

A: Costs are the expenses that firms incur in the production of goods and services.

Q: 1,200 B TC 1,000 850 700 TVC 500 2 3 Number of microwave ovens 6. Refer to the figure above. Based…

A: Answer: Note that TC at zero units is $500. The TC at zero units is equal to the total fixed cost…

Q: TC FC TVC AVC ATC MC 100 1 130 75 3 165 4 50 250 330 7 90 What is the total variable costs (TVC or…

A: Answer: The following formulas will be used: TVC=TC-FCAVC=TVCQATC=TCQMCn=TCn-TCn-1where,MCn=marginal…

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Q: Peter runs a small local newspaper company. He can sell a newspaper at $2. He has fixed costs of…

A: Since you have posted multiple questions, will be answering only for first part.

Q: TC = TVC + TFC TVC = AVC * q TFC = AFC * q TC ATC = AFC + AVC TFC AFC = TVC AVC = ATC MC = Да

A: Fixed cost is the cost that is same for all levels of production and marginal cost is the cost that…

Q: A company is planning to manufacture wheelchairs that are light, fast, and beautiful. Fixed monthly…

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

Q: Data for the break-even analysis (per month) Selling rice per unit PhP 1,000 Variable cost per unit…

A: Units Variable cost Fixed cost Total cost Total sales revenue Profit 10 =600*A2 16000 =B2+C2…