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Stolb23 [73]
3 years ago
13

Fixed costs of production in the short run rev: 06_26_2018 Multiple Choice are a function of the level of variable costs. are lo

w in proportion to variable costs in the short run. cannot be reduced by producing less output. increase as the firm produces more output.
Business
1 answer:
pshichka [43]3 years ago
5 0

Answer:

cannot be reduced by producing less output.

Explanation:

In the case of the fixed cost of production that lies in the short run does not decreased while generating the lower output as the fixed cost are considered to be the independent on the other hand the variable cost changes with the output. Moreover, the total cost could be divided into the fixed cost where the firm could incurred prior generating an output

So the above statement should be considered

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Correct Option: Marginal revenue equals marginal cost.

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The output level that is produced by the profit maximizing monopoly firm is at a point where marginal revenue is equal to the marginal cost. It is the same profit maximizing condition that a competitive firm also utilize to find their equilibrium level of output.

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Answer and Explanation:

As per the data given in the question,

Flexible manufacturing overhead budget

Activity level :

Machine hours 2,000 hours    3,000 hours     4,000 hours

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Indirect material $2.50   $5,000  $7,500         $10,000

Maintenance $0.80  $1,600     $2,400             $3,200

Utilities $0.30   $600                $900               $1,200

Total variable cost $22,600     $25,800          $34,400

Fixed costs :

Supervision             $800        $800               $800

Insurance                $200         $200              $200

Property taxes        $300         $300              $300

Depreciation           $900        $900              $900

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