Suppose a firm has average total cost = 54 and average variable cost = 24. If...

Suppose a firm has average total cost = 54 and average variable cost = 24. If the firm's total fixed cost = 268, then how much output is the firm producing? Round to two decimal places.

Expert Solution

TFC/Q = AFC

268 /Q = AFC

Now, AFC+AVC = ATC

268/Q + 24 = 54

268/Q = 30

Q = 268/30 = 8.93

Rahul Sunny answered 2 years ago

If a firm has a total fixed cost of $75 and an average variable cost of...

If a firm has a total fixed cost of $75 and an average variable cost of $35 for producing 10 units of output, the average total cost would be: If a firm has an average total cost of $55 and an average fixed cost of $10 for producing 5 units of output, then the total variable cost will be:

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.

No. of Products Total Variable Costs, $ Total Costs $ Average Fixed Cost $ Average Variable...

No. of Products Total Variable Costs, $ Total Costs $ Average Fixed Cost $ Average Variable Cost $ Average Total Cost $ Marginal Cost$ 0 0 1 12 2 20 3 24 4 27 5 40 6 65 7 98 Assume that the fixed cost is $80, calculate the above costs in the table and explain the difference between average total costs and marginal costs. In a graph illustrate the Average Total Cost and Marginal Cost Curves, explain their relationship....

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.

Units of Output (Q) Total Cost (TC) Total Variable Cost (TVC) Average Variable Cost (AVC) Average...

Units of Output (Q) Total Cost (TC) Total Variable Cost (TVC) Average Variable Cost (AVC) Average Fixed Cost (AFC) Marginal Cost (MC) 0 $120 $0 N/A N/A N/A 1 121 2 126 3 147 4 196 5 285 6 426 7 631 8 912 9 1,281 10 1,750 4. The following Table represents a firm’s short run costs. a. Complete the missing cells in the Table (10 points).

Marginal cost intersects average total cost and average variable cost

Marginal cost intersects average total cost and average variable costat a point depending on profit maximizing quantity.not enough information to answer.when they are increasing.at their lowest points.

Output tables/day Total cost Variable cost Average Total Cost Average variable cost Marginal Cost 0 $250...

Output tables/day Total cost Variable cost Average Total Cost Average variable cost Marginal Cost 0 $250 1 350 2 430 3 490 4 570 5 670 6 820 What are the fixed costs of production measured in dollars? For 6 tables, what is the average fixed cost, average variable cost, and the marginal cost?

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...

Suppose that a competitive firm faces a market price of $8, an average variable cost of...

Suppose that a competitive firm faces a market price of $8, an average variable cost of (AVC) or 7, fixed costs of ($400) and is maximizing their profits by producing 200 units. Will the firm produce in the short run? Will the firm produce in the long run?

A firm has the total variable cost function: ??? = 2? + 2?^2 and total fixed...

A firm has the total variable cost function: ??? = 2? + 2?^2 and total fixed cost of $20. Suppose the market demand is: ? ? = 20 − ?. a. What are the firm’s profit maximizing output and price if it is a monopolist? How much is its profit at this output level? How much is consumer and producer surplus? (Hint: use a diagram to illustrate the market), b. Suppose the government implements a tax of $3 tax unit...

Question