Exam 3: Extent How Much Decisions

Shoe-a-holic Cathy started her own line of custom made,hand embellished wedding shoes.She opened up her own shop paid $2500 in fixed licensing fee.She used about $3000 in raw materials and made $3500.At the end of the first month,Carly,her sister looked at her financials and told her that she was losing money and should shut down.Cathy is heartbroken.As an economics guru,what would you advise her to do?

(Essay)

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Question 41

A firm produces 500 units per week.It hires 20 full-time workers (40 hours/week)at an hourly wage of $15.Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250.How do the overall costs breakdown?

(Multiple Choice)

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Question 42

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its average cost?

(Multiple Choice)

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Question 43

Total cost divided by the number of units produced is called:

(Multiple Choice)

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Question 44

Use the following table to answer question -What are the total profits if four units are produced?

(Multiple Choice)

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Question 45

Harvey's Hardware is thinking about starting a line of lawnmowers to serve its customer base in the summer.The lawnmowers would be priced at $100 and Harvey the manager believes that they would sell 3 units.They have the following estimated costs.Use this information for question -How many units should Harvey's Housewares produce?

(Multiple Choice)

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Question 46

Use the following to answer question -What is the average total cost of producing 7 units if you hire 7 workers?

(Multiple Choice)

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Question 47

Use the following to answer question -If the firm hires 8 workers,the total fixed costs is

(Multiple Choice)

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Question 48

An airline's flight is about to take off.It has a few empty seats left aboard.If it lowers its prices,it can fill the remaining seats and fly at full capacity.What should be done?

(Multiple Choice)

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Question 49

Cooling systems Carl is the lead engineer on a smart HVAC cooling system that works with minimal energy and is voice activated.Given the revolutionary nature of the system,it took many failed tries to create a system that actually worked,a cost of $30,000.Now each unit sells for $6500 and it costs $5000 in raw materials and labor to produce.What costs should Carl take into consideration when deciding to service the order for an additional unit?

(Essay)

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Question 50

When economists speak of "marginal",they mean

(Multiple Choice)

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Question 51

Use the following to answer question -If the firm hires 5 workers,the average cost equals

(Multiple Choice)

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Question 52

A manager of a clothing firm is deciding whether to add another factory in addition to one already in production.The manager would compare

(Multiple Choice)

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Question 53

Average cost of production is

(Multiple Choice)

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Question 54

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total variable cost?

(Multiple Choice)

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Question 55

Which of these is a variable cost for a restaurant?

(Multiple Choice)

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Question 56

If AVC=$15 and AFC=$10,then ATC=

(Multiple Choice)

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Question 57

If AVC=$5 and AFC=15,then AC=

(Multiple Choice)

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Question 58

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?

(Multiple Choice)

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Question 59

Use the following to answer question -If the firm hires 5 workers,and produces 10 units,the average variable costs equals

(Multiple Choice)

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Question 60

Showing 41 - 60 of 76

A firm produces 500 units per week.It hires 20 full-time workers (40 hours/week)at an hourly wage of $15.Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250.How do the overall costs breakdown?

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its average cost?

Total cost divided by the number of units produced is called:

Use the following table to answer question -What are the total profits if four units are produced?

Use the following to answer question -What is the average total cost of producing 7 units if you hire 7 workers?

Use the following to answer question -If the firm hires 8 workers,the total fixed costs is

An airline's flight is about to take off.It has a few empty seats left aboard.If it lowers its prices,it can fill the remaining seats and fly at full capacity.What should be done?

When economists speak of "marginal",they mean

Use the following to answer question -If the firm hires 5 workers,the average cost equals

A manager of a clothing firm is deciding whether to add another factory in addition to one already in production.The manager would compare

Average cost of production is

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total variable cost?

Which of these is a variable cost for a restaurant?

If AVC=$15 and AFC=$10,then ATC=

If AVC=$5 and AFC=15,then AC=

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?

Use the following to answer question -If the firm hires 5 workers,and produces 10 units,the average variable costs equals

The One Lessor of Business

Benefits, Costs, and Decisions

Investment Decisions: Look Ahead and Reason Back

Simple Pricing

Economies of Scale and Scope

Understanding Markets and Industry Changes

Market Structure and Long Run Equilibrium

Strategy: the Quest to Keep Profit From Eroding

Foreign Exchange, Trade, and Bubbles

More Realistic and Complex Pricing

Direct Price Discrimination

Strategic Games

Bargaining

Making Decisions With Uncertainty

Auctions

The Problem of Adverse Selection

The Problem of Moral Hazard

Getting Employees to Work in the Firms Best Interest

Getting Divisions to Work in the Firms Best Interest

Managing Vertical Relationships

Filters

Exam 3: Extent How Much Decisions

A firm produces 500 units per week.It hires 20 full-time workers (40 hours/week)at an hourly wage of $15.Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250.How do the overall costs breakdown?

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its average cost?​

​Total cost divided by the number of units produced is called:

Use the following table to answer question -​What are the total profits if four units are produced?

Use the following to answer question -​What is the average total cost of producing 7 units if you hire 7 workers?

Use the following to answer question -​If the firm hires 8 workers,the total fixed costs is

​An airline's flight is about to take off.It has a few empty seats left aboard.If it lowers its prices,it can fill the remaining seats and fly at full capacity.What should be done?

​When economists speak of "marginal",they mean

Use the following to answer question -If the firm hires 5 workers,the average cost equals​

​A manager of a clothing firm is deciding whether to add another factory in addition to one already in production.The manager would compare

​Average cost of production is

​If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total variable cost?

​Which of these is a variable cost for a restaurant?

​If AVC=$15 and AFC=$10,then ATC=

​If AVC=$5 and AFC=15,then AC=

​If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?

Use the following to answer question -​If the firm hires 5 workers,and produces 10 units,the average variable costs equals

The One Lessor of Business

Benefits, Costs, and Decisions

Investment Decisions: Look Ahead and Reason Back

Simple Pricing

Economies of Scale and Scope

Understanding Markets and Industry Changes

Market Structure and Long Run Equilibrium

Strategy: the Quest to Keep Profit From Eroding

Foreign Exchange, Trade, and Bubbles

More Realistic and Complex Pricing

Direct Price Discrimination

Strategic Games

Bargaining

Making Decisions With Uncertainty

Auctions

The Problem of Adverse Selection

The Problem of Moral Hazard

Getting Employees to Work in the Firms Best Interest

Getting Divisions to Work in the Firms Best Interest

Managing Vertical Relationships

Filters

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its average cost?

Total cost divided by the number of units produced is called:

Use the following table to answer question -What are the total profits if four units are produced?

Use the following to answer question -What is the average total cost of producing 7 units if you hire 7 workers?

Use the following to answer question -If the firm hires 8 workers,the total fixed costs is

An airline's flight is about to take off.It has a few empty seats left aboard.If it lowers its prices,it can fill the remaining seats and fly at full capacity.What should be done?

When economists speak of "marginal",they mean

Use the following to answer question -If the firm hires 5 workers,the average cost equals

A manager of a clothing firm is deciding whether to add another factory in addition to one already in production.The manager would compare

Average cost of production is

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total variable cost?

Which of these is a variable cost for a restaurant?

If AVC=$15 and AFC=$10,then ATC=

If AVC=$5 and AFC=15,then AC=

If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25,what is its total cost?

Use the following to answer question -If the firm hires 5 workers,and produces 10 units,the average variable costs equals