1. Output Total Cost 0 $ 24 33 2 41 3 48 54 5 61 6 69 The average variable cost of producing 4 units of output is Multiple Choice $7.50 $30 $13 50 $6.00lustrations Reuse Files Links Comments Header & Footer Item 10 Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed Number of Workers Units of Output 0 130 70 122 165 190 210 Diminishing marginal returns become evident with the addition of the Multiple Choice first worker third worker fourth worker Sixth worker Display SettingsHeading 2 Title Select Editing 1 1. Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed. lumber of WorkersUnits of output 40 90 126 Number of WorkersUnits of( of Outpat 150 165 180 The marginal product of the sixth worker is Multiple Choice 180 units of output. 30 units of output Is units of output D units of output Fo12. Answer the question on the basis of the following cost data Output Total Cost 0 $ 24 1 33 2 41 3 48 4 54 61 6 69 The marginal cost of producing the fifth unit of output is Multiple Choice $7.40 ST. SIZ 20 S37Paragra ha Select Editing 13. The following is cost informat of the Creamy Crisp Donut Company Entrepreneur's potential earnings as a salaried worker = $40,000 Annual lease on building # $25,000 Annual revenue from operations - $420,000 Payments to workers = $150,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs. than implicit costs is earning a normal profit but not an economic profit is earning an economic profit is suffering an economic loss, when implicit costs are considered. He Display Settings | Focus chComments Header & For 2. The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential earnings as a salaried worker = $48,000 Annual lease on building = $20,000 Annual revenue from operations - $280.090 Payments to workers = $118,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp's implicit costs, including a normal profit, are Multiple Choice $134.000 $146.000 SO $152 000lustrations Comments Header & For 3. Suppose that, when producing 35 units of output, a firm's AVC is $20, its AFC is $6, and its MC is $28. This firm's Multiple Choice ATC is $34. ATC is $54. total cost is $910 total cost is $28.Comments Header & 4. The following is cost information for the Creamy Crisp Donut Company Entrepreneur's potential earnings as a salaried worker = $48,000 Annual lease on building - $20,000 Annual revenue from operations - $280,090 Payments to workers - $118,000 Utilities (electricity, water, disposal) costs - $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp's explicit costs are Multiple Choice $280.000. $146,000 SO $152.000 Le Display Settin# Page Links Comments Heade Output ATC-1 ATC-2 ATC 3 ATC 4 1, 500 15 19 10 20 30 2, 000 8 12 17 25 2, 500 9 10 15 20 3, 000 12 18 Output ATC-1 ATC 2 ATC 3 ATC-4 3, 500 15 6 11 16 4, 000 18 10 14 4, 500 20 12 12 5, 000 24 15 5, 500 29 19 13 6, 000 35 25 15 Which plant size would produce at the least cost for the 5,000-6,000 range of output? Multiple Choice ATC-4 ATC-1 ATC-2 ATC-3O. The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential earnings as a salaried worker = $48,000 Annual lease on building = $20,000 Annual revenue from operations - $280,000 Payments to workers = $118,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp's accounting profit is Multiple Choice $280.000. $146,000 $134.000 SO Display SettingsILOT Get Add ins Chart Reuse Bookmark My Add ins ~ Wikipedia Online Footer Screenshot Comment Files Video A Cross-reference Page Nu ations Reuse Files Add ins Media Links Comments Header & Round Things, Inc.'s production process exhibits constant returns to scale. Currently their long- nini average cost is $24/unit. If Round Things doubles its use of all inputs, its new long-fun average total cost will be Multiple Choice Less than $20/unit. $24/unit. less than $12/unit. less than $24/unit but greater than $12/unit.LO Get Add-ins 125 Link Header Chart Reuse Bookmark Online - Footer Screenshot - 6. My Add-ins . Wikipedia Comment Files Video H Cross-reference Page Number ions Reuse Files Add-ins Media Links Comments Header & Footer 8. Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total variable costs are. Multiple Choice $15.000. $20.000. $50. $5.000.D Models -Screenshot SD My Add The - FECross-reference Comment Page Number Illustrations Reuse Files Links Comments Header & Footer 9. Harvey quit his job at State University, where he earned $58,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $8,000 a year. To start the business, he cashed in $60,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 15,000 units of software at $60 for each unit. Of the $60 per unit. $50 goes for the costs of production, packaging marketing, employee wages and benefits, and rent on a building. The implicit costs of Harvey's firm in the first year were Multiple Choice $150.000 $72,000. $78,000. $900.000