2. Problems and Applications Q4 MindTap-Cengage Learning Bing e Chegg Study | Gu

Question

2. Problems and Applications Q4

MindTap-Cengage Learning Bing e Chegg Study | Guided Solutio × d ng.cengage.com/static/nb/ui/index.html?nbld-596 702&nbNodeld-21; 7875369&deploymentld-66771; 7230252296547 71971 08071&eISBN-9781; 337096669#1&parentid;=256470703 · MINDTAP Joshua Clymer PS 6 (Ch 13 and Ch 14) Due Tomarrow at 8 AM EST Ball Bearings, Inc., faces costs of production as follows: Total Fixed Costs (Dollars) 100 100 100 100 100 100 100 Total Variable Costs Quantity (Dollars) 50 70 90 140 200 360 Complete the following table by calculating the company's total cost, marginaf cost, average fixed cost, average variable cost, and average total cost at each level of production Marginal Cost Average Variable Cost (Dollars) Average Total Cost (Dollars) Total Cost Average Fixed Cost Quantity (Dollars) (Dollars) Dollars) A-Z avascriptonClickProblemSetitem['fat/servlet/qulz?quiz action-takeQuiz&qiz;

Explanation / Answer

Answer to blank 1: -$100

Ans: False

Explanation:

The firm’s losses are the $100 (fixed cost) if it is not producing anything. This was not a wise decision. Because if the firm were producing 3 or 4 ball bearings, it would only lose $40.

Answer to blank 2: -$100

Ans: False

Explanation:

Still the firm's losses are $100 at 1 case of production. So, this is not the best decosion. As explained above, the firm should produce 3 or 4 cases.

Quantity TFC($) TVC($) TC($) MC($) AFC($) = TFC/Q AVC($ = TVC/Q ATC($) = TC/Q TR = $50*Q Profit 0 100 100 0 -100 1 100 50 150 50 100.00 50.00 150.00 50 -100 2 100 70 170 20 50.00 35.00 85.00 100 -70 3 100 90 190 20 33.33 30.00 63.33 150 -40 4 100 140 240 50 25.00 35.00 60.00 200 -40 5 100 200 300 60 20.00 40.00 60.00 250 -50 6 100 360 460 160 16.67 60.00 76.67 300 -160

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.