Average total cost incurred by firm is calculated dividing

Assignment Help Business Economics

Reference no: EM13898314

The average total cost incurred by a firm is calculated by dividing:

a. total output by total cost.

b. the change in total output by the change in the number of people employed.

c. the change in total cost by the change in the quantity of output.

d. total cost by total output.

e. total output by the number of people employed.

Reference no: EM13898314

Questions Cloud

Because of the high costs to the frequent flyers : Because of the high costs to the "frequent flyers", what should the responses departments/communities be to balance the needs of the many with the needs of the few?

State the total variable cost function : Where Q is output of ice cream, and L is labor hours. In the short-run K is fixed at 100. If capital rents for $10 and wages are $5 per hour, state the Total Variable Cost (Short Run Total Cost) function.

Profit maximization and loss minimization : BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price-discriminate; that is, it sells its beer at the same price per can to all customers. Suppose that a technological innovatio..

If the total cost of producing two pounds of cheese : If the total cost of producing 2 pounds of cheese is $6 and the total cost of producing 4 pounds of cheese is $8, then:

Average total cost incurred by firm is calculated dividing : The average total cost incurred by a firm is calculated by dividing:

Short run refers to a period of time during which : Short run refers to a period of time during which:

Total annual consumption vs annual weeks of leisure : A person can chose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week. Draw her annual budget constraint, representing total annual consumption vs annual weeks of leisure.

What would be its equilibrium profit : A monopolistic firm faces the following demand curve. Q = 7800 -12 P This monopoly's cost function has been estimated as follows: TC = 460,000 + 50 Q. What price should this monopoly charge to maximize its profit? What would be its equilibrium profit..

Find the optimal ratio of leisure to consumption : Adam Sandler has a utility function U(C, L) = C1/3L1/2. The wages now available to him are $9/hr. Non-wage income in royalties are $6 a day. Find the MRS for Leisure to Consumption to find the optimal ratio of Leisure to Consumption. Write out and dr..

User Account

All Pages