Question
In: Economics
Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company’s total cost of production at various production quantities.
Various measures of cost
Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company’s total cost of production at various production quantities.
Fill in the remaining cells of the following table.
Quantity | Total Cost | Marginal Cost | Fixed Cost | Variable Cost | Average Variable Cost | Average Total Cost |
|---|---|---|---|---|---|---|
(Pairs) | (Dollars) | (Dollars) | (Dollars) | (Dollars) | (Dollars per pair) | (Dollars per pair) |
| 0 | 60 | — | — | |||
| 1 | 155 | |||||
| 2 | 220 | |||||
| 3 | 255 | |||||
| 4 | 300 | |||||
| 5 | 350 | |||||
| 6 | 450 | |||||
On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).)
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Douglas Fur is a small manufacturer of fake-fur boots in New York City. The following table shows the company’s total cost of production at various production quantities.
Douglas Fur is a small manufacturer of fake-fur boots in New
York City. The following table shows the company’s total cost of
production at various production quantities.Fill in the remaining cells of the following table.QuantityTotal CostMarginal CostFixed CostVariable CostAverage Variable CostAverage Total Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)(Dollars per pair)0120——120022403285434054256540On the following graph, plot Douglas Fur’s average total cost
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(diamond symbol). Finally, plot...
Douglas Fur is a small manufacturer of fake-fur boots in New York City. The following table shows the company’s total cost of production at various production quantities.
Douglas Fur is a small manufacturer of fake-fur boots in New
York City. The following table shows the company’s total cost of
production at various production quantities.Fill in the remaining cells of the following table.QuantityTotal CostMarginal CostFixed CostVariable CostAverage Variable CostAverage Total Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)(Dollars per pair)0120 ——121022703315438054756630On the following graph, plot Douglas Fur’s average total cost
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(diamond symbol). Finally, plot...
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Short-run cost formulasDouglas Fur is a small manufacturer of fake-fur boots in
Detroit. The following table shows the company's total cost of
production at various production quantities.Fill in the remaining cells of the table.Total ProductTotal CostMarginal CostTotal Fixed CostTotal Variable CostAverage Variable CostAverage Total Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)(Dollars per pair)0120——121022703315438054756630On the following graph, plot Douglas Fur’s average total cost
curve (ATCATC) using the green points (triangle symbol). Next, plot
its average variable cost curve (AVCAVC) using the purple points
(diamond symbol)....
4. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in Chicago....
4. Various measures of cost
Douglas Fur is a small manufacturer of fake-fur boots in
Chicago. The following table shows the company’s total cost of
production at various production quantities.
Fill in the remaining cells of the following table.
Quantity
Total Cost
Marginal Cost
Fixed Cost
Variable Cost
Average Variable Cost
Average Total Cost
(Pairs)
(Dollars)
(Dollars)
(Dollars)
(Dollars)
(Dollars per pair)
(Dollars per pair)
0
60
—
—
1
155
2
220
3
255
4
300
5
350
6...
4. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in New...
4. Various measures of cost
Douglas Fur is a small manufacturer of fake-fur boots in New
York City. The following table shows the company’s total cost of
production at various production quantities.
Fill in the remaining cells of the following table.
Quantity
Total Cost
Marginal Cost
Fixed Cost
Variable Cost
Average Variable Cost
Average Total Cost
(Pairs)
(Dollars)
(Dollars)
(Dollars)
(Dollars)
(Dollars per pair)
(Dollars per pair)
0
60
—
—
1
160
2
220
3
270
4
340
5...
7. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in Chicago....
7. Various measures of
cost
Douglas Fur is a small manufacturer of fake-fur boots in
Chicago. The following table shows the company's total cost of
production at various production quantities.
Fill in the remaining cells of the table.
Quantity
Total Cost
Marginal Cost
Fixed Cost
Variable Cost
Average Variable Cost
Average Total Cost
(Pairs)
(Dollars)
(Dollars)
(Dollars)
(Dollars)
(Dollars per pair)
(Dollars per pair)
0
120
—
—
1
210
2
270
3
315
4
380
5
475
6
630...
Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in New York...
Various measures of cost Douglas Fur is a small manufacturer of
fake-fur boots in New York City. The following table shows the
company’s total cost of production at various production
quantities. Fill in the remaining cells of the following table.
Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average
Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars)
(Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 60 — —
1 155 2 220 3 255 4 300 5 350...
The following table shows total benefit for different quantities of good A, good B, and good...
The following table shows total benefit for different quantities
of good A, good B, and good C. Initially, the price of good A is
$5, the price of good B is $6, the price of good C is $7, and the
consumer’s income is $42.
Good A
Good B
Good C
Quantity
Total Benefit
Marginal Benefit
MB/P
Total Benefit
Marginal Benefit
MB/P
Total Benefit
Marginal Benefit
MB/P
0
0
0
0
1
50
63
70
2
95
122
133
3...
Table 1. shows the hourly production and Total Cost estimates for a new manufacturing firm wishing...
Table 1. shows the hourly production
and Total Cost estimates for a new manufacturing firm wishing to
enter the smart phone market. Fill in the blank cells in columns
a., b., c., d., and e. on the table by computing the appropriate
values.
Can you show the excel formula ??
Table 1.
Smart cell phones produced in an hour
Total Cost (TC)
Variable Costs (VC)
Average Variable Costs (AVC)
Average Total Costs (ATC)
Average Fixed Cost (AFC)
Marginal Cost (MC)...
The following table indicates the average total cost of producing varying quantities of output from 3...
The following table indicates the average total cost of
producing varying quantities of output from 3 different plants:
Output
10
20
30
40
50
60
70
80
Small firm
6,000
5,000
4,000
5,000
6,000
7,000
8,000
9,000
Medium firm
8,000
6,500
5,000
3,500
3,000
4,000
5,000
6,000
Large firm
10,000
9,000
7,500
6,000
4,000
2,500
3,000
3,500
Plot the ATC curves for all three firms on a graph.
What size plant should be used to produce 30 units of output?...
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