12.Which of the following is NOT true if a firm shuts down and produces zero output in the short run?
13.Of the following types of costs, which is most likely a fixed cost for a shoe manufacturer?
14.A company that produces luxury automobiles has the following simplified costs. What is the marginal cost of the second automobile? # of AutomobilesFixed CostTotal Variable Costs0$50,000$0 1$50,000$10,000 2$50,000$20,000 3$50,000$40,000 a.$20,000. b.$10,000. c.$70,000. d.$30,000.
15.A security system company’s total production costs depend on the number of systems produced according to the following equation: Total Costs = $10,000,000 + $2000*quantity produced.What is the average total cost of production when 20,000 units are produced?
16.As a manufacturer increases output, which of the following costs should decrease?
17.A spirits manufacturer is considering two potential production investments:3