Total cost tc - Study guides, Class notes & Summaries

Variable cost = - ANSWERSUnit Variable Cost * Quantity Produced (Descriptive Model) Total Cost = - ANSWERSFixed Cost + Variable Cost * Quantity Produced Also written as FC + VC * QP = TC (Descriptive Model) Logic suggests that variable cost is the unit variable cost times the quantity of item produced. - ANSWERSTrue __________ has an influence on profit by predicting how many units of a product will be sold. - ANSWERSDemand ______________produced is a decision option typically base...

Ivy Software MBA Prepworks Fundamentals of Economics Updated & Verified!!! Questions and Answers 100% Already Graded A+ The main concept demonstrated in the production possibilities frontier is - CORRECT ANSWER-Opportunity cost When country A has a lower opportunity cost of producing sugar relative to country B, then country A is said to have - CORRECT ANSWER-Comparative Advantage A graph that shows the combinations of two goods that the economy can produce given the available scarce re...

ECON 201 - FINAL EXAM (JMU) QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. 4 ways government can react to monopolies - -1. Making monopolized industries more competitive 2. Regulating the behavior of monopolies 3. Turning some private monopolies into public enterprises 4. NOTHING a firm should do what when their P < ATC - -exit a firm should do what when their P < AVC - -shut down a firm should do what when their P > ATC - -enter a firm should do what when their TR < TC - -...

WGU C211 Pre- Assessment Global Economics for Managers Exam Prep| Questions and Verified Answers| 100% Correct (Latest 2023/ 2024) Q: Direct exports have which advantage Answer: capitalization of economies of scale in production in the home country Q: What are three examples of equity modes of entry? Answer: strategic alliances greenfields acquisitions Q: Which pillar of formal institutions represents the coercive power of gov- ernments Answer: regulatory Q: wha...

Troop Leading Procedures - ANSWER • Receive the mission- LDRs determine unit mission and time available to accomplish it. Conduct initial analysis. • Issue a warning order (WARNO)--less detailed than Opord • Make a tentative plan- • Start necessary movement • Reconnoiter • Complete the plan • Issue Operations Order (OPORD) • Supervise Rehearsal techniques - ANSWER Backbrief., Combined arms rehearsal., Support rehearsal., Battle drill or SOP rehearsal The prin...

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SCM definition correct answers resources capabilities strategic SCM includes everything except correct answers productions scheduling Which is not a reason to manufacture in house correct answers insufficient capacity When would you use an external supplier correct answers better cost of control Tc manufacturing correct answers tc=fc + (vc * q) outsourcing correct answers tc= p*q Breakeven correct answers q= fc/(p-vc) total cost of ownership analysis correct answers extends ...

Perfect Competition - Answer Many buyers and sellers The goods offered are largely the same Firms can freely enter or exit the market Price Taker - Answer Takes the price as given Pric e per unit sold is constant because there are many buyers and sellers, and the goods offered are the same Price Equilibrium - Answer Firms look to this to determine what to change Profit Equation - Answer Profit=TR-TC Total Revenue Equation - Answer TR=PxQ Average Revenue Equation - An...

What is business strategy about - it is about choices, choices on how to compete and choices on where to compete (what our competitive game plan will be) Strategy - integrated set of choices that positions a firm in its industry so as to generate superior financial returns (value) over the long run by creating and sustaining competitive advantage What is the caviot about strategy - it is usually resource intensive and hard to reverse (important) What are the three strategic questions ...

Average Fixed Cost - Answer (1) TFC÷Qs (2) ATC − AVC (Quantity supplied to market by producers) Average Variable Cost - Answer (1) TVC÷Qs (2) ATC − AFC Average Total Cost - Answer AVC + AFC Average Product - Answer TP÷Units of Labor Marginal Cost - Answer ∆ in TC ÷ ∆ in Qs Marginal Product - Answer ∆ in TP ÷ ∆ in Labor Total Cost - Answer TFC + TVC Total Revenue - Answer P × Qs Total Product - Answer TR − TC Average Revenue ...