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3 years ago

Marginal cost is the average variable cost and the average total cost when they are

Business

1 answer:

fredd [130]3 years ago

8 0

Answer: equal to; at their minimum.

Explanation: Marginal cost is equal to the average variable cost and the average total cost when they are at their minimum.

Thus, when average total cost is increasing, marginal cost must be above average total cost; and when at its minimum, marginal cost is equal to average total cost. Also, when average variable cost is at its minimum, marginal cost equals average variable cost.

Marginal cost is the increase in the cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output.

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3 years ago

Describe the final step in the adjusting process. The final step is to determine the correct balance of an account. The final st

Ket [755]

Answer:

The Final Step is 'post to a trial balance so financial statements can be prepared'

Explanation:

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8 0

3 years ago

Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.5 cus

Phantasy [73]

Answer:

A) Single-server single-phase model (M/M/1).

$\lambda=2.5 \,customers/hour\\\\\mu=6\,customers/hour$

B) The goal is not met, as the average time waiting for service is 5.56 minutes.

C) The new mean service rate is 7.5 customers/hour.

In this case, the average time waiting for service is 4 minutes, so the goal is met.

Explanation:

A) This situation can be modeled as a single-server single-phase model (M/M/1).

The mean arrival rate is 2.5 customers per hour.

$\lambda=2.5 \,customer/h$

The mean service rate is 6 customers per hour, calculated as:

$\mu=\frac{60\, min/h}{10 \,min/customer}=6\, customer/h$

B) The average waiting time for a customer can be expressed as:

$W_q=\frac{\lambda}{\mu}\frac{1}{\mu-\lambda} =\frac{2.5}{6}\frac{1}{6-2.5} =0.417*0.222=0.093\,hours\\\\W_q=0.093\,hours*(60min/h)=5.56 \,min$

The average waiting time is 5.56 minutes, so it is more than the goal of 5 minutes.

C) If the average time spent per customer to 8 minutes, the mean service rate becomes

$\mu=\frac{60\, min/h}{8 \,min/customer}=7.5\, customer/h$

An the average waiting time for the service now becomes:

$W_q=\frac{\lambda}{\mu}\frac{1}{\mu-\lambda} =\frac{2.5}{7.5}\frac{1}{7.5-2.5} =0.333*0.2=0.067\,hours\\\\W_q=0.067\,hours*(60min/h)=4 \,min$

The average time is now 4 minutes, so the goal is achieved.

6 0

3 years ago

Anne’s marginal income tax rate is 32 percent. She purchases a corporate bond for $19,500 and the maturity, or face value, of th

Bess [88]

Answer:

6.0%

Explanation:

Given that :

Marginal income tax rate = 32%

Interest rate before taxes = 8.8%

Annual after-tax rate of return if bond matures in 10 years will be the same as the annual after tax rate of return since the annual rate is constant.

Hence,

Annual after tax rate of return = Interest rate × (1 - tax rate)

Annual after tax rate = 8.8% × (1 - 32%)

Annual after tax rate = 0.088 × (1 - 0.32)

Annual after tax rate = 0.088 × 0.68

Annual after tax rate = 0.05984

= 0.05984 × 100%

= 5.984% = 6.0%

6 0

3 years ago

Marginal cost is ________ the average variable cost and the average total cost when they are ________

Marginal cost is the average variable cost and the average total cost when they are