Calculate average variable, fixed and total cost

Assignment Help Managerial Economics
Reference no: EM1372127

Use the following information of a company's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules.

Output Total Cost Total Variable Cost Total Fixed Cost
1 $2075.00 $ 75.00 $2000.00
2 2140.00 140.00 2000.00
3 2180.00 180.00 2000.00
4 2280.00 280.00 2000.00
5 2400.00 400.00 2000.00

 

Reference no: EM1372127

Questions Cloud

Significant social changes in areas of population : The United States has seen significant social changes in the areas of population, education, labor force participation, health, technology, and the family structure. Which area has had the greatest social changes?
Improving economic efficiency in health care : The Quik Service Walk In Clinic always has three M.D. and 8 R.N.s working at its 24 hour clinic, which serves consumers with minor emergencies and ailments.
What is meant by application service provider : What is meant by Application Service Provider? What factors drive their emergence? How does Jamcracker fit in ASP space? Describe the Jamcracker business model.
Summarize eeoc : Describe one group protected by the EEOC, and summarize the related legislation. Are all groups fairly represented?
Calculate average variable, fixed and total cost : Use the following information of a company's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules.
What is a snob : What is a snob? DeBotton notes that snobbery is easier to criticize than it is to avoid. Is there anything about which you might be guilty of snobbery?
How output of leaky bucket policer can be fed in second : Illustrate how output of the leaky bucket policer can be fed into second leaky bucket policer so that two leaky buckets in series police average rate, peak rate, and burst size.
Determine effect on the economic variable : For each policy or event given below, please indicate if it will increase (+), decrease (-), or it is uncertain (+/-) how it will affect the economic variable on right-hand side.
Comparison of socialism and capitalism : Explain what would be the best combined features of the economic systems of capitalism and socialism while minimizing the disadvantages of each.

Reviews

Write a Review

Managerial Economics Questions & Answers

  Finding output, revenues, costs, and profits

The Alex Corporation uses two inputs, A and B, to produce boats. The production function for boats is given through

  Creating market graphs and calculating equilibrium

Rochester Metro Area was hit with a major ice storm in 2003. Suppose that before ice storm of 2003, the weekly demand and supply for ice in the Rochester Metro Area were given by following equations:

  Forecast monthly sales

An economist had estimated sales trend line for the Sun Belt Toy Corporation as follows:

  Reward system and financial reporting act

Would the reward system vary among retailers, manufacturers, distributors, financial organizations? What other characteristics should good performance incentives have?

  Find the profit-maximizing price

The total monthly cost for marketing this product is composed of $3000 additional administrative expenses and $50 each unit for production and distribution costs.

  Question about resource allocation

Enpar manufactures a one type of engine part for an automotive manufacturer. It operates 2-plants, Plant A and Plant B, which have the following production functions:

  Economic efficiency in the organization

If a manager that takes over a furniture factory and realizes immediately that it was throwing away at least $100,000 a year worth of wood scrap

  Calculate time weighted rate of return

A portfolio manager is being evaluated based on the time-weighted average rate of return. If the manager had achieved annual returns for the past three years of 2.5 percent, 14.5 percent and 9 percent on one initial investment of $500,000,

  Diminishing average and marginal returns

If a production function is given through the equation Q=12X+ 10x2- x3 where X= input and Q=output then provide the computation for average product.

  Dynamics of cross functional teams

Discuss and explain the individual contributions that could be made through a cross-functional team to the following list of activities.

  Determine the annual break even point

Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. Each barber is paid $9.90 every hour and works a forty hour week and a fifty week year,

  Sales trend analysis

During the last ten-years, sales revenue has increased from 25 million to 65 million. Estimate the company's growth rate in sales using the constant growth model with annual compounding.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd