In the table below, compute average fixed cost, average variable cost, and average total cost for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
In the table below, compute average fixed cost, average variable cost, and average total cost for all rates of output and answer questions about average costs. a. Compute average fixed costs, average variable costs, and average total cost for all rates of output. Instructions: Round your responses to two decimal places. Rate of Output Fixed Costs Average Fixed Cost Variable Costs Average Variable Cost Average Total Cost Total Cost 0 $90 $0 $90 10 90 50 140 15 90 72 162 20 90 95 185 30 90 110 200 40 90 150 240 50 90 200 290 51 90 300 390 Saved a. Complete the following table. Instructions: Round your responses to the nearest dollar. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. Rate of Output Total Cost Marginal Cost Average Total Cost 0 $47 1 60 $ 13 $ 60 2 87 $ 27 3 130 4 190 5 260 b. What output has the lowest perunit cost equal to marginal cost? units c. What is the value of fixed costs? $ < Prev 5 of 9 Next > Problem 0506 algo Refer to the cost table below and answer two questions about profit. Average Total Cost Rate of Output Fixed Costs 0 $ 120 Variable Costs $ 0 Total Cost $ 120 10 120 85 205 $ 20.50 15 120 125 245 16.33 20 120 150 270 13.50 30 120 240 360 12.00 40 120 350 470 11.75 50 120 550 670 13.40 51 120 633 753 14.76 Saved Compute total profits at a price of $20 per pair of jeans and output of Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. 15 pairs. $ b. 40 pairs. $ Prev 7 of 9 Next > In the table below, compute average fixed cost, average variable cost, and average total cost for all rates of output and answer questions about average costs. a. Compute average fixed costs, average variable costs, and average total cost for all rates of output. Instructions: Round your responses to two decimal places. Rate of Output Fixed Costs Average Fixed Cost Variable Costs Average Variable Cost Average Total Cost Total Cost 0 $90 $0 $90 10 90 50 140 15 90 72 162 20 90 95 185 30 90 110 200 40 90 150 240 50 90 200 290 51 90 300 390 Saved a. Complete the following table. Instructions: Round your responses to the nearest dollar. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. Rate of Output Total Cost Marginal Cost Average Total Cost 0 $47 1 60 $ 13 $ 60 2 87 $ 27 3 130 4 190 5 260 b. What output has the lowest perunit cost equal to marginal cost? units c. What is the value of fixed costs? $ < Prev 5 of 9 Next > Problem 0506 algo Refer to the cost table below and answer two questions about profit. Average Total Cost Rate of Output Fixed Costs 0 $ 120 Variable Costs $ 0 Total Cost $ 120 10 120 85 205 $ 20.50 15 120 125 245 16.33 20 120 150 270 13.50 30 120 240 360 12.00 40 120 350 470 11.75 50 120 550 670 13.40 51 120 633 753 14.76 Saved Compute total profits at a price of $20 per pair of jeans and output of Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. 15 pairs. $ b. 40 pairs. $ Prev 7 of 9 Next >
Expert Answer:
Related Book For
Posted Date:
Students also viewed these economics questions

Joey realizes that he has charged too much on his credit card and has racked up $5,000 in debt. If he can pay $150 each month and the card charges 18 percent, APR (compounded monthly), how long will...

EXERCISE 20 Looking at grammar. (Chart 26) Complete the sentences. Use the simple past or the present perfect form of the verbs in parentheses. 1. Noor is from a hot, dry country. She (see, never)...

(a) Compute average fixed costs and average variable costs in Figure 5.3 for all rates of output. At what rate of output is (are) (b) Average fixed costs the lowest? (c) Average variable costs the...

A manufacturer claims that the average tensile strength of thread A exceeds the average tensile strength of thread B by at least 12 kilograms. To test his claim, 50 pieces of each type of thread are...

Identify a successful retail business in your community. What marketing strategies have led to its success?

You are to receive $100 a year for the next 40 years. How much is it worth now if the current interest rate in the economy is 6 percent?

Segmental information relating to Turner plc for the year to 30 April 2015 is shown below. Required: Analyse the performance of each of the three main business segments for the year and comment on...

Many of a banks customers use its automatic teller machine to transact business after normal banking hours. During the early evening hours in the summer months, customers arrive at a certain location...

The requirement of this assignment is prepare a written response based on the guidelines below. Submit the completed assignment (in Microsoft Word) through the submission link below. Your assignment...

Compare and contrast the difference between the regulations of the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA). How are these regulations enforced?

While reading the article one may have been surprised that they would so willingly, and openly, share such information with other (including competitors). Their willingness was due to: FTC...

I. CONVERTING ASSETS TO EXPENSES 1. On 10/1/20 ABC Corp. purchases, on account, $12,000 of shop supplies to be used during the period 10/1/20  9/30/21. ABC Corp. adjusts its books annually. a....

How does a quickservice restaurant industry apply traditional ABC activity based costing? What is traditional ABC activity based costing applied to the quickservice restaurant industry ? Why would...

(i) Explain the suitable web architecture for the VTOP student portal. (ii) Write a JavaScript function to count total number of alphabets, digits and special characters in a string. Iput the string:...

A pair of gears in contact have a gear ratio of 2 . 2 . The smaller gear has a diameter of 1 6 cm , and the larger gear has an angular velocity of 3 0 rad / s . Whats the pitch  line velocity of the...

What you believe is the most important professional experience you will take away from operations management course and how it will support your career progression

MgO prevents premature evaporation of Al in a furnace by maintaining the aluminum as Al2O3. Another type of matrix modifier prevents loss of signal from the atom X that readily forms the molecular...

Is it possible for costs such as salaries or depreciation to end up as assets on the balance sheet? Explain.

What are the three major activities of a manager?

The President of the ICAEW has proposed that regulators from developed and developing countries start talking to agree a set of principles for universal application that could underpin the regulation...
Study smarter with the SolutionInn App