Table 13-7 The Flying Elvis Copter Rides Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cos...

Table 13-7
The Flying Elvis Copter Rides

Quantity	Total Cost	Fixed Cost	Variable Cost	Marginal Cost	Average Fixed Cost	Average Variable Cost	Average Total Cost
0	$50	$50	$0	--	--	--	--
1	$150	A	B	C	D	E	F
2	G	H	I	$120	J	K	L
3	M	N	O	P	Q	$120	R

Refer to Table 13-7. What is the value of G?

Group of answer choices

$120

$220

$270

$30

Expert Solution

Answer
the total cost of n units =total cost of n-1 units +marginal cost of n th unit
TC(n)=TC(n-1)+MC(n)
TC(2)=150+120=$270

the total cost is called G which is $270
Option 3

Rahul Sunny answered 2 years ago

Quantity Total Cost Total Fixed Cost Total Variable Cost Average Fixed Cost Average Total Cost Average...

Quantity Total Cost Total Fixed Cost Total Variable Cost Average Fixed Cost Average Total Cost Average Variable Cost Marginal Cost 0 30 1 75 2 150 3 255 4 380 5 525 6 680 7 840 8 1010 9 1200 Given the quantity and total cost, calculate for total fixed cost, total variable cost, average fixed cost, average total cost, average variable cost, and marginal cost. Excel formulas would be nice but not required.

quantity of broomsticks fixed cost variable cost total cost average fixed cost average variable cost average...

quantity of broomsticks fixed cost variable cost total cost average fixed cost average variable cost average total cost marginal cost marginal product 0 10 $13 $38 22 $28 32 $70 41 $64 50 $110 59 $108 65 $133 70 $185 how do I fill in the blanks? as well as graph the three average cost curves and the marginal cost curve.

Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average...

Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average Variable Costs 0 0 - 10 - 10 - - - 1 8 24 14 24 2 16 34 10 17 3 24 42 8 14 4 32 49 7 12.25 5 40 57 8 11.4 6 48 67 10 11.17 7 56 81 14 11.57 8 64 99 18 12.38 9 72 123 24 13.67 1b. At a price of $14, what is...

Labor Q Total Fixed Cost Total Variable Cost Total Cost Marginal Cost Average Fixed Cost Average...

Labor Q Total Fixed Cost Total Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 0 25 0 1 4 25 25 2 10 25 50 3 13 25 75 4 15 25 100 5 16 25 125 (a) Complete the blank columns. (b) Assume the price of this product equals $10. What’s the profit-maximizing output (q)? Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit...

The table shows the quantity produced and the total, average, variable, cost, and marginal costs for a firm. Complete the table.

Unit 9— Cost, Revenue, and ProfitThe table shows the quantity produced and the total, average, variable, cost, and marginal costs for a firm. Complete the table.QuantityTotal CostVariable CostFixed CostAverage Total CostAverage Variable CostAverage Fixed CostMarginal Cost00N/AN/AN/AN/A110050502953180130354502052251751025626121174983853359450106855185Graph the total cost, variable cost, and fixed cost curves.Assume the price is $50, draw the total revenue curve and identify the profit maximizing output level and the maximum profitGraph the average total cost, average variable, average fixed, and marginal cost curvesAssume the price is...

For each quantity, calculate average variable cost, average total cost, and marginal cost.

Variable TotalQuantity Cost Cost 0 cups Rs.0 Rs.29 1 9 39 2 24 54 3 44 74 4 69 99 5 99 129 6 134 164For each quantity, calculate average variable cost, average total cost, and marginal cost.Plot all three curves on the same graph. Discuss the relationship between marginal-cost curve and average-total-cost curve.

1) What is the fixed cost, marginal cost, average total cost, average variable cost and average...

1) What is the fixed cost, marginal cost, average total cost, average variable cost and average fixed cost of the following cost function? . 2) What is the level of output that minimizes AVC? (in other words, what is the level of output that corresponds to the minimum of AVC?)

At a quantity of 265 units marginal revenue equals marginal cost. Fixed cost is $2,500, the Total Variable cost is $9,500, and the total revenue is $11,000.

At a quantity of 265 units marginal revenue equals marginal cost. Fixed cost is $2,500, the Total Variable cost is $9,500, and the total revenue is $11,000. Calculate the average fixed cost, average variable cost, average total cost and marginal revenue. Should the company shut down or stay in business in the short run? In the long run?

At a quantity of 375 units marginal revenue equals marginal cost. Fixed cost is $1000, the Total Variable Cost is $7,000 and the Total Revenue is $6000.

At a quantity of 375 units marginal revenue equals marginal cost. Fixed cost is $1000, the Total Variable Cost is $7,000 and the Total Revenue is $6000. Calculate the average fixed cost, average variable cost, average total cost and marginal revenue. Should the company shut down or stay in business?

Using the information in data set one, which I have included in the table below, recalculate total cost, fixed cost, variable cost, marginal cost, average total cost, average variable cost and average fixed costs if the price of the variable input (which

Problem TwoUsing the information in data set one, which I have included in the table below, recalculate total cost, fixed cost, variable cost, marginal cost, average total cost, average variable cost and average fixed costs if the price of the variable input (which is labor in this example) is not $50 but $55. I have created Table 2 for you to put your answers in. Assume that fixed costs remain at $220. When the price of a variable input changes which...

Question