In the short run, a firm's total costs of producing 100 units of output equal $10,000. If
Question:
a. What is the marginal cost of the 101st unit of output?
b. What is the firm's average total cost of producing 100 units?
c. What is the firm's average total cost of producing 101 units?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
a Marginal cost of producing 101th unit can be calculated by considering the additi...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
In the short run, a firms total costs of producing 100 units of output equal $10 000. If it produces one more unit, its total costs will increase to $10 150. a. What is the marginal cost of the 101...
-
A firm operating in the short run produces 100 units of product, has average total costs of $300, and has average variable costs of $200. What are the firm's total fixed costs?
-
What is Harrys marginal cost of tennis if he plays for (i) 3 hours a week; (ii) 5 hours a week; (iii) 7 hours a week?
-
The general term that refers to the tendency of a parcel of air to either remain in place or change its initial position is ________. a. adiabatic b. conditional instability c. stasis d. stability
-
Mozena Company had sales in 2011 of $1,500,000 on 60,000 units. Variable costs totaled $720,000, and fixed costs totaled $400,000. A new raw material is available that will decrease the variable...
-
Determine IE and VC for the network of Fig. 4.136. 8V 33 ko TE 3.9 k2
-
Water flows in a horizontal rectangular channel with a flowrate per unit width of \(q=10 \mathrm{ft}^{2} / \mathrm{s}\) and a depth of \(1.0 \mathrm{ft}\) at the downstream section (2). The head loss...
-
Super Bookstore (SB) is a large city bookstore that sells books and music CDs and has a caf. SB operates at capacity and allocates selling, general, and administration (S, G & A) costs to each...
-
Selected cost data for Aerial Co for the year are as follows: Estimated overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual...
-
Enter the following sales transaction into the Ledger/Journal. You have negotiated the sale of Mr and Mr Emerald's home at 8 Knowle Court, Ocean Grove for $1,000 000. The purchasers, Mr and Mrs Teal...
-
The academic calendar for a university is August 15 through May 15. A professor commits to a contract that binds her to a teaching position at this university for this period. Based on this...
-
Suppose that a firm's only variable input is labor, and the constant hourly wage rate is $20 per hour. The last unit of labor hired enabled the firm to increase its hourly production from 250 units...
-
In a game, a player attempts to hit a target by throwing three darts. With each throw, a player has a 30% chance of hitting the target. a. Draw up the probability distribution table for H, the number...
-
A feedback control systemn has a functionn open loop transfer. G(s)H(s)-k(s+1)/s 2(s+4) Draw the place of the races when K vara from zero to infinity. meet1.poles 2.zeros 3.location of the place of...
-
The manufacturing company you work for installs a PLC control system on its assembly line, counting the number of components produced every shift. For quite a while, the system works without any...
-
If you apply the substitution to evaluate the integral (2x + 1) 10 dx by choosing u = (2x+1), then the original integral will be converted to
-
Hellriegel et al. define management as 'the process of getting things done, effectively and efficiently, through and with other people'. This makes it seem that management is a simple task, but it is...
-
Air and water flow through the compressor and heat exchanger arrangement shown in the figure alongside. Steady-state operating datal are provided on the figure. Heat transfer with the surroundings...
-
Consider a system that produces budget reports for your department at work. Alternatively, consider a registration system that produces enrollment reports for a department at a university. For...
-
Subprime loans have higher loss rates than many other types of loans. Explain why lenders offer subprime loans. Describe the characteristics of the typical borrower in a subprime consumer loan.
-
In 1984, James Griggs mother was killed in a car accident. Royal Insurance Co. of America agreed to pay Grigg a number of monthly payments and two lump-sum payments of $50,000 due May 1, 1995, and...
-
In 1984, James Griggs mother was killed in a car accident. Royal Insurance Co. of America agreed to pay Grigg a number of monthly payments and two lump-sum payments of $50,000 due May 1, 1995, and...
-
Go to this texts Web site at academic cengage.com/blaw/clarkson and select Chapter 16. Click on Video Questions and view the video titled Third Party Beneficiaries. Then answer the following...
-
Large-scale industrial production - accompanied by massive technological change, expanding international communication networks, and pro-growth government policies-generated rapid economic...
-
How can this relate to individuals who have had a TBI and are currently homeless or marginally housed?
-
1. According to Marxian theory, are crises an economic process inherent to the accumulation dynamics of current capitalism? Justify your answer. 2. According to Marxian theory, what do you consider...
Study smarter with the SolutionInn App