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Suppose Honda's total cost of producing 4 cars is $225,000 and its total cost of producing 5 cars is $250,000 a)What is the average total cost of producing 5 cars b)What is the marginal cost of the fifth car? c)Draw the marginal
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Suppose that there are 10 million workers in Canada and South Korea and each worker in Canada and South Korea can produce 4 cars per year. A Canadian worker can produce 10 tonnes of grain a year, whereas a South Korean worker can
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Suppose that there are 10 million workers in Canada and South Korea and each worker in Canada and South Korea can produce 4 cars per year. A Canadian worker can produce 10 tonnes of grain a year, whereas a South Korean worker can
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An auto manufacturer sends cars from two plants, I and II, to dealerships A and B located in a Midwestern city. Plant I has a total of 28 cars to send, and plant II has 8. Dealer A needs 20 cars, and dealer B needs 16.
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1. The Omnibus Corporation finds that its daily costs are $50 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following
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suppose that the short run costs for a paintbrush manufacturer are given by the expression: TC= 100+2Q+.01 Q2 A. WAT ARE THE FIXED COSTS OF THIS MANUFACTURE? B. WHAT ARE THE TOTAL COSTS , AVERAGE COST, AVERAGE VARIABLE COST AND
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Hi there. You helped me with a couple of questions regarding Econ. I appreciate the help but my issue is I don't understand how you calculate the minimum average variable cost or the output that maximizes profit. I do understand
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A manufacturer has found that marginal cost is dc/dx=3x^260x+400 dollars per unit when x units have been produced. The total cost of producing the first 2 units is $900. What is the total cost of producing the first 5 units? I
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