KULogoBU224 Unit 7 Assignment Template:

.jpg” alt=”KULogo”>BU224 Unit 7 Assignment Template:

Name: –
Course Number: –
Section Number: –
Unit Number: –
7
Date: –

———————————-General Instructions for all Assignments———————————–
1.
Unless specified differently by your course instructor, save this assignment
template to your computer with the following file naming format:
Course
number_section number_LAST_FIRST_unit number

2. At the top of the template, insert the
appropriate information: Your Name, Course Number, Section Number and Date

3.
Insert your answers below, or in the appropriate space provided for in the
question. Your answers should follow the
APA format with citations to your sources and, at the bottom of your last page,
a list of references. Your answers should also be in Standard English with
correct spelling, punctuation, grammar, and style (double spaced, in Times New
Roman, 12-point, black font).Respond to questions in a thorough manner,
providing specific examples of concepts, topics, definitions, and other
elements asked for in the questions.

4. Provide a list of references at the end of
the last page of your assignment.

5.
Upload the completed assignment to the appropriate dropbox.

6.
Any questions about the assignment, or format questions, should be directed to your
course instructor.

——————————————-Career
Competencies —————————————–

In
this assignment, you will engage in developing the following career
competencies:

Analyzing
Quantitative Data
Analyzing
Qualitative Data

——————————————-Assignment——————————————-

1. The accompanying table shows a
car manufacturer’s total cost of producing cars.

Quantity of cars

Total Cost

0

$500,000

1

$540,000

2

$560,000

3

$570,000

4

$590,000

5

$620,000

6

$660,000

7

$720,000

8

$800,000

9

$920,000

10

$1,100,000

a.What is this manufacturer’s fixed cost?

b.For each level of output except zero output, calculate
this manufacturer’s marginal cost (MC).

c.
For each level of output except zero output, calculate the variable cost (VC).

d.
For each level of output except zero output, calculate the average variable
cost (AVC),

e.
For each level of output, calculate the average total cost (ATC),

f.
For each level of output except zero output, calculate the average fixed cost (AFC).

Quantity of cars

Total Cost

Marginal Cost
b.

Variable Cost
c.

Average Variable Cost
d.

Average Total Cost
e.

Average Fixed Cost
f.

0

$500,000

1

$540,000

2

$560,000

3

$570,000

4

$590,000

5

$620,000

6

$660,000

7

$720,000

8

$800,000

9

$920,000

10

$1,100,000

g.
What number of cars is the manufacturer’s minimum cost output level?

2.
You
produce widgets. Currently you produce 4 widgets at a total cost of $40.

a.What is your average total cost?

b.Suppose you could produce one more (the fifth) widget
at a marginal cost of $5. If you do
produce that fifth widget, what will your average total cost be? Has your
average total cost increased or decreased? Why?

c.Suppose instead that you could produce one more (the
fifth) widget at a marginal cost of $20. If you do produce that fifth widget,
what will your average total cost be? Has your average total cost increased or
decreased? Why?

——————————————–
References:

Unit _7_
Practice Assignment Grading Rubric

Content

Percent Possible

Points Possible

Full assignment

100%

40

Overall Writing:

20%

8

correct coversheet information at the top of 1st page

5%

2

APA format for answers

3%

1

correct citations

3%

1

standard English no errors

4%

2

At least ONE, or more, references

5%

2

Answers: provides complete information demonstrating
analysis and critical thinking:

80%

32

Individual Questions:

Calculate this manufacturer’s fixed cost

8%

3

1. b. – Calculate this manufacturer’s marginal cost.

8%

3

1. c. – Calculate this manufacturer’s variable cost.

8%

3

1. d. – Calculate this manufacturer’s average variable cost.

8%

3

1. e. – Calculate this manufacturer’s average total cost.

8%

3

1. f. – Calculate this manufacturer’s average fixed cost

8%

3

1. g. – Identify this manufacturer’s minimum cost output level.

8%

3

2. a. – What is your average cost?

8%

3

2. b. – What is the average total cost of 5th widget, (marginal
cost of $5) why has it changed?

8%

3

2. c. – What is the average total cost of 5th widget, (marginal
cost of $20) why has it changed?

8%

3

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