b. If AC= Q?-4Q+10 i. Final the total cost and marginal cost function. Is this function is more appropriate for long run or short run?

Q: Total Cost AVC AFC ATC MC -- -- 1 25 40 65 a5 20 16 20 216 25 29 3 15 20 25 4 105 145 4 (15) For any…

A: Since you asked for only drawing the diagram, we are doing that only.

Q: Output(units per day) 10 20 30 Total costs($ per day) 40 54 62 80 Find the average total cost at the…

A: Average total cost is the per unit total cost , so here we calculate the average total cost by using…

Q: his refers to the ratio of a small increment of cost and a small increment of output. a. Increment…

A: Below is the formula for marginal cost:

Q: Suppose a short-run total cost function is given by C = 600 + 40Qº.3 + 5Q?. (a) Find out the fixed…

A: In a short-run perspective, a firm's total costs can be divided into fixed costs, which a firm must…

Q: Explain in words why the Law of Diminishing Marginal Returns implies that there are increasing…

A: Law of diminishing marginal returns states that, as the production is continuous using factor of…

Q: dc Find the total cost for the indicated value of q when is a marginal-cost function and fixed costs…

A: Given : dc/dq=0.12q2-1.5q+5.60 C=9000 q=20

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

Q: (d) The long run average cost curve is U shaped because up to a certain point you have excess K/L…

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

Q: (d) Define the cost function g(n) = cost of making n sandwiches. Assume the cost to make 800…

A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…

Q: t Suppose that the monthly​ cost, in​ dollars, of producing x chairs is…

A: Total cost measures the overall cost of production incurred in the process to produce output.

Q: Cost, Revenue & Profit For these problems, xx will represent the number of items and yy will…

A: Slope intercept form: Y=AX + B

Q: Define a variable cost and a fixed cost. What causes changes in these costs? Give two examples of…

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

Q: a) If a business has a long-run cost (TC) function given by TC = aq^3 – bq^2 + ca where q = the rate…

A:

Q: 39) If the marginal cost curve is below the average variable cost curve, then A) average variable…

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

Q: Q.No.6 a. If total cost function is (6) C= C(Q) Show the relationship between marginal cost and…

A: Marginal cost refers to the additional cost of production incurred in the process of increasing…

Q: Given the cost information below, answer the following questions. Output Total Cost $10.00 1 19.76 2…

A: Hi! thank you for the question but as per the guidelines, we answer up to three sub-parts. Kindly…

Q: .If total cost is increasing, marginal cost is positive. a. True O b. False

A: # Total cost is the sum of variable and fixed cost incurred by a firm.  At the same time, the…

Q: A firm has two plants that produce identical output. The costs functions are C,=10g-4q² + q³…

A: TC1 = 10q - 4q2 + q3  AC1 = TC1/q AC = 10 - 4q + q2 Average cost will be minimum when it's…

Q: 1. Marginal cost is given by MC = 25 + 30Q – 9Q². Fixed cost is 55. Find the (a) total cost, (b)…

A: The firms, and businesses are the entities who are involved in the production process. The firms…

Q: 20.Calculate the average fixed cost (AFC), for a level of production Q = 20, knowing that the total…

A: Given: TC=200+3Q+2Q2 Level of production (Q)=20

Q: Find the cost function for the marginal cost and fixed cost. Marginal Cost Fixed Cost (x = 0) dC…

A: Marginal cost: Marginal cost can be defined as the cost that is incurred on the production of an…

Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…

A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.

Q: Explain the term Total costs?

A: Any firm main objective is to maximize its profit and for maximizing profits every firm must know…

Q: For this cost function, Marginal Cost = MC = 10 q . (45) Fill in the table with your values from…

A: MC(marginal cost) is the slope of TC(total cost). TC is the sum of TVC(total variable cost) and…

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

A: Explicit cost is the cost that is incurred for paying external expenses like wages to employees,…

Q: Which of the following does NOT represent a fırm's explicit costs? O the firm's total accounting…

A: Explicit cost is the actual monetary expenditure to run a business Implicit cost is the opportunity…

Q: When output is zero, total fixed cost is zero. O True O False

A: Total fixed cost it is cost that do not vary with level of output.

Q: For this cost function, Marginal Cost = MC = 10 q. %3D 45) Fill in the table with your values from…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: Consider the following information on long run total costs: Output 1 2 3 4 5 6. 7 Total Costs 50 90…

A: Output Total Cost Marginal Cost ATC 0 0 0 0 1 50 50 50 2 90 40 45 3 123 33 41 4 160 37 40…

Q: (a) Find the marginal cost function C'(x). C'(x) Use it to estimate how fast the cost is increasing…

A: Answer: Given values: To find: Marginal cost function and marginal cost (at 60,000) Average cost…

Q: Which costs are measured on per-unit basis: fixed costs,averagecost,average variable cost,variable…

A: Cost(C) is an important component of production. The ‘cost of production’ refers to the total…

Q: if a firm hire workers at $3 week , labour is 1 and output is 6 what is the fixed cost, variable…

A: Wages (W) is given as $3.Labor (L) is 1.Output (Q) is 6 units.

Q: 3] Let the total cost function be C(x) =x² + 4x + 12 $. Answer the following questions. a. Find the…

A: TC = 1/9x2 +4x+12

Q: Find the attached file.

A: Fixed cost is the cost which does not vary with the change in the output. Marginal cost is the…

Q: QUESTION 3 Big Boss Company produces 16 units of output at a total cost of $2,142. If the fixed…

A: Answer : Here first find total variable cost Total variable cost = Total cost - Total fixed cost =…

Q: 15) For any cost function, you can find min ATC by etting ATC = and solving for q. %3D

A: Average total cost = total cost/ quantity

Q: 9. What is the Average Total Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 g) 120 Oh) 160

A: Introduction Total cost is the function of output. Total cost is the addition of total fixed cost…

Q: A. Team Wang has the following costs for the short-run production of different quantities of a good:…

A: A cost function is a function of input prices and output quantity whose value represents the cost of…

Q: Question 9 A firm has a cost function cL, K) = wL + rK with a production function pL,K) = AL“ K® .…

A: Lagrange approach is an approach which is used to find the value of the variables that maximize or…

Q: Define fixed and variable costs and give examples of each in manufacturing. What is total cost,and…

A: Cost is something that, depending on its type, can be categorized in many ways. Classification…

Q: 12 .knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…

A: Total cost is the sum of total fixed cost and total variable cost. Average fixed cost is total fixed…

Q: Answer the question on the basis of the following cost data. Output Total Cost $ 24 33 1 2 41 3 48 4…

A: We can calculate the Average total Cost by using following formula Average total cost = Total…

Q: A garment factory has total fixed costs of $300,000 per year. The firm’s average variable cost is…

A: The provided information are: Total fixed cost = $300000 Average variable cost = $80

Q: Workers Total Product Total Cost (per day) (units per day) ($) 100 1 10 120 2 18 140 3 24 160 4 29…

A: Fixed costs are costs that do not change when sales or production volumes increase or decrease. This…

Q: d. Show that the cost function is non-decreasing in w,r and q.

A: Cost function is non- decreasing in w, r and q

Q: c) Graph P. d) Use your graph of P to estimate the number of panels that give maximum profit. e) How…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: Answer the question on the basis of the following cost data. Output Total Cost $ 24 1 33 2 41 3 48…

A: Variable cost is the cost that moves directly with respect to business activity. That is, one pays…

Explicit and Implicit Cost Analysis

The entire idea of the cost of production or production cost is applied corresponding or we can say that it is related to money cost. Money cost refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factors of production or factor services.