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Micro Tut 4a
Micro Tut 4a
1. This chapter discusses many types of costs: opportunity cost, total cost, fixed cost, variable cost,
average total cost, and marginal cost. Fill in the type of cost that best completes the phrases below:
2. Your aunt is thinking about opening a books store. She estimates that it would cost $500,000 per
year to rent the location and buy the equipment. In addition, she would have to quit her $50,000 per
year job as an accountant.
a. What is your aunt’s opportunity cost of running a books store for a year?
b. If your aunt thought she could sell $510,000 worth of books in a year, should she open the
store? Explain.
a. 0 0 ---
b. 1 4 ?
c. 2 10 ?
d. 3 13 ?
e. 4 15 ?
b. 1 ? 3.00 0.30 ? ? ? ?
c. 2 ? 3.00 0.80 ? ? ? ?
d. 3 ? 3.00 1.50 ? ? ? ?
e. 4 ? 3.00 2.40 ? ? ? ?
f. 5 ? 3.00 3.50 ? ? ? ?
5. A commercial fisherman notices the following relationship between hours spent fishing and the
quantity of fish caught:
7. Your friend owns a painting company with fixed costs of $200 and the following schedule for
variable costs:
a. Calculate average fixed cost, average variable cost, and average total cost for each quantity.
b. What is the efficient scale of the painting company?
7. თქვენი მეგობარი სამღებრო საწარმოს მფლობელია რომლის მუდმივი დანახარჯები არის
200, ხოლო ცვალებადი დანახარჯები შემდეგნაირია: