2.4 Fixed and Variable Expenses Exit Ticket

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the fixed cost in the expense function?

• 4.14

• 55,789

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the cost of producing 500 Wonder Widgets?

• 4.14

• 55,789

• 57,859

• 500

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the average cost per widget of producing 500 Wonder Widgets?

• $115.72

• $120.45

• $100.67

• $116.72

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the total cost of producing 600 Wonder Widgets?

• $115.72

• $4.14

• $55,789

• $58,273

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the average cost per widget of producing 600 Wonder Widgets?

• $115.72

• $97.12

• $4.14

• $100.34

The expense function for the Wonder Widget is E=4.14q+55,789.

As the number of widgets increased from 500 to 600, did the average expense per widget increase or decrease?

• increase

• decrease

The expense function for the Wonder Widget is E=4.14q+55,789.

What is the average cost per widget of producing 10,000 Wonder Widgets?

• $9.72

• $4.14

• $12.98

• $9.86