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Help with 22-27 with explanations Quantity (units) Total Cost $30 40 2 47 51 59 22 The table above shows a firm's total cost of

Help with 22-27 with explanations

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Quantity (units) Total Cost $30 40 2 47 51 59 22 The table above shows a firm's total cost of producing various units of output. What is the average variable cost of producing three units? A $4 $7 $10 $17 $21 23 Using the table above. What is the firm's fixed cost if they produce 3 units? $0 $4 $17 $21 $30 24 Mr. Kix decides to start a business manufacturing toothpaste. Which of the following would be included in the accounting costs of the undertaking? $80,000 to buy machinery and other equipment Interest Alfalfa could have made if he put the $100,000 into a savings account instead. MOODD The salary Alfalfa could make if he got a job at a local shampoo factory instead. Cost of toothpaste ingredients Jim needs to purchase each week. Both a and d are true. Long-Run Average Cost Curve D Long-Run Average Cost (S) A B Quantity of Steel Produced 25 The region marked "E" is characterized by economies of scale. increasing returns to scale. MOOD constant returns to scale. diseconomies of scale. maximum average long-run cost. The soft drink producers, airline industry and auto manufacturers are examples of firms that compete in 26. which market structure? oligopoly monopoly monopolistic competition D . perfect competition m duopoly "Too many cooks spoil the broth" is an old cliche explaining 27. diseconomies of scale. a poor hiring procedure. TOODD diminishing marginal returns. the lack of skills of the two employees. marginal physical product

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