Question

A firm produces 100 computers. Its total costs are $90,000 of which fixed costs are $20,000....

A firm produces 100 computers. Its total costs are $90,000 of which fixed costs are $20,000. What are its: Average Fixed Costs Average Variable Costs Average Total Costs When it produces another computer its total costs rise to $90,500. What is the marginal cost of the 101st computer?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
41. A computer company produces affordable, easy-to use home computer systems and has fixed costs of...
41. A computer company produces affordable, easy-to use home computer systems and has fixed costs of $250. The marginal cost of producing computers is $700 for the first computer, $250 for the second, $300 for the third, $350 for the fourth, $400 for the fifth, $450 for the sixth, and $500 for the seventh. a. Create a table that shows the company’s output, total cost, marginal cost, average cost, variable cost, and average variable cost. b. At what price is...
A firm produces 7 unit(s) with a total cost ( TC) of 91.873. Its TC at...
A firm produces 7 unit(s) with a total cost ( TC) of 91.873. Its TC at 8 units is 100.93, while its VC at 8 is 70.928. This means that ____. A. the average fixed costs (AFC) of 8 units is 38.5 B. the average variable costs (AVC) of 8 units is going to be 38.5 C. the marginal cost (MC) of the unit 8 is 10.01 D. the average fixed costs (AFC) of 7 unit(s) is 4.286
A furniture company produces and sells 100 tables for $120 each. It has average fixed costs...
A furniture company produces and sells 100 tables for $120 each. It has average fixed costs of $50 and average variable costs of $35 at this production level. a) Calculate the company’s total cost, total revenue, total fixed cost, total variable cost and total profit. b) Is this company earning economic profit? Explain your answer and also highlight the difference between short run and long run. c) What is the most likely shape of marginal cost curve for a company...
This chapter discusses many types of costs: explicit costs, implicit costs, total cost, average fixed cost,...
This chapter discusses many types of costs: explicit costs, implicit costs, total cost, average fixed cost, average variable cost, and marginal cost. Fill in the type of cost that best completes each sentence. ALL POTENTIAL ANSWERS ARE EITHER AVERAGE FIXED/ AVERAGE VARIABLE/ EXPLICIT/ IMPLICIT/ MARGINAL/ OR TOTAL COST Profits equal total revenue minus ______________ . The term __________ refers to costs that involve direct monetary payment by the firm. _____________   is falling when marginal cost is below it and rising...
As a firm increases the level of output that it produces, short-run average fixed cost rises...
As a firm increases the level of output that it produces, short-run average fixed cost rises and then falls. remains constant since fixed costs are constant. decreases. decreases up to a particular level of output and then increases. Flag this Question Question 22 pts Suppose that a firm is currently producing 500 units of output. At this level of output, TVC = $1,000 and TFC = $2,500. What is the firms ATC? $2 $5 $7 $10 Flag this Question Question...
Quantity Total costs Total variable costs Marginal costs Average total costs Average variable costs Average fixed...
Quantity Total costs Total variable costs Marginal costs Average total costs Average variable costs Average fixed costs 1 $20 2 $6 $5 3 $21 4 $10.50 $2.50 5 $9 Given the table, what is the marginal cost of producing the fourth unit? a. $20 b. $10 c. $5 d. $11 e. #31.50
Suppose that a firm produces 10 units of output. Its Average Variable Cost (AVC) = $25,...
Suppose that a firm produces 10 units of output. Its Average Variable Cost (AVC) = $25, Average Fixed Cost (AFC) = $5, and Marginal Cost (MC) = $30. The firm's ________. a.) Total cost is $300 b.)Average total cost (ATC) is $60 c.) Average total cost (ATC) is $35 d.)Total cost is $30
3. Concerning costs of production, it is true that: a.) marginal costs equal the average total...
3. Concerning costs of production, it is true that: a.) marginal costs equal the average total cost multiplied by the output level b.) if a firm shuts down for a month its total costs for the month will equal to its fixed costs for the month c.) marginal costs equal the change in total cost divided by the change in variable costs d.) average variable costs equal total variable costs multiplied by the output level
Question 2. (8 Marks) Case 6 (1 Mark) A company has fixed costs of $90,000. Its...
Question 2. Case 6 (1 Mark) A company has fixed costs of $90,000. Its contribution margin ratio is 30% and the product sells for $75 per unit. What is the company's break-even point in dollar sales? Case 7 (1 Mark) Lee Company manufactures and sells widgets for $2.00 per unit. Its variable cost per unit is $1.70. Lee's total fixed costs are $10,500. If the Company wants a profit of $20,000 what is the sales revenue required? Case 8 (1...
A firm produces 10,000 units of output per month. Its fixed costs are $25,000 per month....
A firm produces 10,000 units of output per month. Its fixed costs are $25,000 per month. Its marginal costs per unit are constant at $5. What is the firm’s break-even price? What would be its break-even price if it sells 25% more output?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT