Total cost tc - Study guides, Class notes & Summaries

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 ...

Because of scarcity, every economic decision involves - a trade-off. Ryan spends an hour studying instead of going for a bike ride. Assume studying and bike riding were Ryan's only options for that hour. The opportunity cost to him of studying is: - the enjoyment and exercise he would have received from bike riding. The gains from trade are: - a result of more efficient resource allocation. Which of the following would not tend to lower the price of VCRs? - increasing price of pay-per-...

MGSC 395 final exam Questions and Answers 2024 goal of forecasting - CORRECT ANSWER-what demand will be in period 1 made prior to period 1 time series data - CORRECT ANSWER-repeated time ordered observations of important quantity MA3 - CORRECT ANSWER-3 period moving ABC product analysis - CORRECT ANSWERbest order size depends on - CORRECT ANSWER--fixed ordering costs -inventory holding cost orders/quantity is larger - CORRECT ANSWER-when it has a high shipping cost orders/quantity are ...

McGraw -Hill’s Taxation of Business Entities 2023 Edition, 14e Brian Spilker (Solutions Manual). Solutions Manual - Taxation of Individuals and Business Entities, by Spilker et al. Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGrawHill Education. Chapter 1 Business Income, Deductions, and Accounting Methods SOLUTIONS MANUAL Discussion Questions 1. [LO 1] What is an “ordinary and necessary” busines...

goal of forecasting - CORRECT ANSWER-what demand will be in period 1 made prior to period 1 time series data - CORRECT ANSWER-repeated time ordered observations of important quantity MA3 - CORRECT ANSWER-3 period moving ABC product analysis - CORRECT ANSWERbest order size depends on - CORRECT ANSWER--fixed ordering costs -inventory holding cost orders/quantity is larger - CORRECT ANSWER-when it has a high shipping cost orders/quantity are smaller - CORRECT ANSWER-when it has a low shippi...

MKT-315 Ch. 7 QuizSelf-actualization is NOT: 1 Buying a Mercedes 2 Acting for a higher good 3 Purchasing for self-fulfillment 4 Learning a new language - correct answer Buying a Mercedes __________ represents where the total revenue and total cost are equal. 1 TR 2 Equal analysis 3 Break-even analysis 4 TC - correct answer Break-even analysis Because of ___________, businesses are forced to be competitive. 1 Media 2 The Internet 3 Both the Internet and E-commerce 4 E-commerce...

accounting total cost - ANSWER - explicit costs only economic total cost - ANSWER - accounting total cost + implicit costs economic total cost is opportunity cost accounting profit = - ANSWER - total revenue - accounting total costs economic profit = - ANSWER - total revenue - economic total costs when economic profit = 0 - ANSWER - normal economic profit; means that the firm is doing as well as it could in it's next best alternative economic profit > 0 - ANS...

1. Which of the following is a key assumption of the supply and demand model? A) that the price and quantity sold are determined in a single market B) that the prices and quantities sold are simultaneously determined in all markets C) the way the whole economy achieves equilibrium D) that international markets affect domestic markets, which in turn affect local markets 2. A key assumption of the supply and demand model is that: A) each firm's good is unique and cannot be duplic...

Peregrine Exam Questions with 100% Correct Answers Which of the following is NOT a strategic alternative to laying off employees? 1. implementing a restricted hiring policy 2. downsizing the workforce 3. lowering employment standards 4. mandating reduced hours - answer3. Lowering Employment Standards KJ built his taco truck out of $75,000,000 worth of titanium and duct tape. He uses $10.25 of organic bok choy, $6.75 of Wisconsin cheddar cheese, and $25.25 of foie gras in each taco. If he...

average cost - Answer-- the total cost divided by the units of output produced - AC = TC/Q average fixed cost - Answer-- the fixed cost divided by the units of output produced - AFC = FC/Q average variable cost - Answer-- the variable cost divided by the units of output produced - AVC = VC/Q bandwagon effect - Answer-the situation in which a person places greater value on a good as more and more other people possess it. Nash-Bertrand equilibrium - Answer-A set of prices such that,...