economics ,

Concept Definition Equation Short Run Total Fixed Cost (TFC) Costs that do not change with output (TP or O) even if TP is zero Average Fixed Cost (AFC) Total fixed cost (TFC) per unit of output . AFC - TFC/Q (TP or O) Short Run and Long Run Total Variable Cost (TVC) Costs that vary with output (TP) Average Variable Cost Total variable cost (TVC] per unit of AVC - TVC/Q (AVC] output (TP or Q) Total Cost (TC) The total cost of all inputs used by a firm TC - TFC (short-run) +TVC In production. This includes total fixed cost (TFC] and total variable cost (TVC) Average Total Cost (ATC] Total cost (TC] per unit of output ATC - TC/Q or ATC - AFC (TP or Q) . AVC Marginal Cost (MC) The increase in total cost (TC) that MC - [Change in results from producing one more unit RCMChange in Q) of output (TP or Q) Long Run Long-run Average Total Average total cost (ATC) when a plant Cost (LRATC) size has been chosen such that ATC is minimized for each level of outputThe table below shows a company's long-run total cost associated with producing 12,000, 22,000 and 30,000 units of a good in factories of varying sizes. If market demand is 22,000 units, which factory size should the company choose? 12,000 Units 22,000 Units 30,000 Units Factory Size 1 $20,000 $30,000 $38,000 Factory Size 2 $21,000 $28,500 $34,500 Factory Size 3 $27,000 $29,500 $31,500 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Factory Size 1 Factory Size 2 U Factory Size 3The table below shows a company's long-run total cost associated with producing 12,000, 22,000 and 30,000 units of a good in factories of varying sizes. If market demand is 10,000 units, which factory size should the company choose? 12,000 Units 22,000 Units 30,000 Units Factory Size 1 $20,000 $30,000 $38,000 Factory Size 2 $21,000 $28,500 $34,500 Factory Size 3 $27,000 $29,500 $31,500 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Factory Size 1 Factory Size 2 U Factory Size 3A grocery store is trying to figure out how many delivery trucks it should purchase for the delivery of online grocery purchases. It currently has one delivery truck but business is expanding, so the company is considering adding up to 3 more trucks. The fixed and variable costs of owning a fleet of 2, 3 or 4 delivery trucks for 100, 200 or 300 grocery orders per week is shown in the table below. If the company has to deliver 100 orders per week, how many delivery trucks should they have? Number of Total Cost Delivery Trucks Fixed Cost 100 Orders 200 Orders 300 Orders $600 $200 $500 $1,200 $700 $180 $380 $1,080 $800 $120 $360 $840 Type your numeric answer and submitA grocery store is trying to figure out how many delivery trucks it should purchase for the delivery of online grocery purchases. It currently has one delivery truck but business is expanding, so the company is considering adding up to 3 more trucks. The fixed and variable costs of owning a fleet of 2, 3 or 4 delivery trucks for 100, 200 or 300 grocery orders per week is shown in the table below. If the company has to deliver 300 orders per week, how many delivery trucks should they have? Number of Total Cost Delivery Trucks Fixed Cost 100 Orders 200 Orders 300 Orders $600 $200 $500 $1,200 $700 $180 $380 $1,080 $800 $120 $360 $840 Type your numeric answer and submitA grocery store is trying to figure out how many delivery trucks it should purchase for the delivery of online grocery purchases. It currently has one delivery truck but business is expanding, so the company is considering adding up to 3 more trucks. The fixed and variable costs of owning a fleet of 2, 3 or 4 delivery trucks for 100, 200 or 300 grocery orders per week is shown in the table below. How many orders would the store prefer to have each week if it wanted to minimize cost over the long run? Number of Total Cost Delivery Trucks Fixed Cost 100 Orders 200 Orders 300 Orders $600 $200 $500 $1,200 Nmy $700 $180 $380 $1,080 $800 $120 $360 $840 Type your numeric answer and submitA grocery store is trying to figure out how many delivery trucks it should purchase for the delivery of online grocery purchases. It currently has one delivery truck but business is expanding, so the company is considering adding up to 3 more trucks. The fixed and variable costs of owning a fleet of 2, 3 or 4 delivery trucks for 100, 200 or 300 grocery orders per week is shown in the table below. Currently the grocery store is delivering 100 orders per week. A neighboring grocery store has the same cost structure and is also facing 100 orders per week, what should they do to minimize cost? Number of Total Cost Delivery Trucks Fixed Cost 100 Orders 200 Orders 300 Orders $600 5200 $500 $1,200 $700 $180 $380 $1,080 5800 $120 $360 $840 Select an afewwer and submit. For keyboard navigation, use the up/down arrow keys In select an answer. Each grocery store should have 2 trucks. Each grocery store should have 4 trucks. The grocery stores should tearn up and share the cost of 4 trucks between them. The grocery stores should team up for delivery and share the cost of 3 trucks between them. U None of the above