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Semenov [28]
3 years ago
8

Suppose that your colleague has accidentally spilled coffee on his laptop and the file containing your firm\'s cost data has bee

n damaged. Use your knowledge of cost functions to save the day (and your friend\'s job) by determining the missing cost data. (Source Sapling Learning) Cost Schedule Output Marginal Cost Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 ----- ------- ----- ---- 1 $50 2 $74 3 $105 4 $50 $360 The total cost when producing zero units of output is $___________.Please only input the numerical answer without the $ sign. If your answer is $400 please input 400.
Business
1 answer:
Wittaler [7]3 years ago
6 0

Solution:

Q      MC       FC      VC     TC      AFC     AVC     ATC

0       NA       50        0       50       NA      NA       NA

1        50      50       50      105       50       50      105

2        19       50      64       104       20       32       52

3       85        40      149      189    13.33    49.67  63.00

4      223       40      372     412       10        93        103  

TC=FC+VC

FC=40

VC=TC-FC

MC=change in TC

AFC=FC/Q

AVC=VC/0

ATC=TC/0

a) TC when 0=0 = 40 because FC = 40 remains constant and the firm still incurs a total cost equal to its FC when it produces zero output.

b) MC for first unit = 45

c) ATC of 3rd unit = 63

d) AVC for 4th unit = 93      

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When the money market is drawn with the value of money on the vertical axis, the price level increases if Group of answer choice
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Answer:

When the money market is drawn with the value of money on the vertical axis, the price level increases, money demand shifts right or money supply shifts left.

Explanation:

if the money market is drawn with the value of money on the vertical axis, while the price level increases there will be a decrement in the  value of money, and an increment in the quantity of money demanded.

An increment in the price level causes the money demand curve to shift to the right , while a decrement in the price level causes the money demand curve to shift to the left.

As the price level decreases, the value of money increases, so people want to hold less of it.

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3 years ago
Fitness Bands Corporation gathered the following information for Job​ #928: Standard Total Cost Actual Total Cost Direct materia
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Question:                                      

                                                            standard total cost        Actual total cost

Direct material

Standard  2000 pints  $3.50/pint                   $7,000

Actual      2,500 pints   $5.00/pint                                                       $12,000

Answer:

Materials quantity​ variance= $1,750 unfavorable

Explanation:

<em>Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.  </em>

<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price  </em>

                                                                                               pints

Standard quantity allowed                                                  2,000

Actual quantity used                                                           <u> 2,500</u>

Quantity variance                                                                 500 unfavorable

Standard price                                                                     <u> $3.50 </u>

Materials quantity​ variance                                               <u>1,750  </u>unfavorable

Materials quantity​ variance= $1,750 unfavorable

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Answer:

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