Difference between average cost and total fixed costs
What are the difference between average cost and total fixed cost?
Expert
Average fixed cost is acquired by dividing total fixed cost through total output. Therefore, total fixed cost curve and average fixed cost curve are demonstrated below here:
By the above graph this is clear that the total fixed cost curve is horizontal to OX axis. Conversely, the average fixed cost curve slopes by left to right. It implies as that the output raises, the average fixed cost falls.
States the Extrapolation statistical Method of Demand Forecasting?
Illustrates the ways in managerial economics bridges between real business practices and traditional economic theory?
When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla
what are the criteria for good forecasting
States the term Demand Estimation.
When the substitution effect of a higher wage rate is more powerful than the income effect, in that case the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases as income rises. (3) human capital eff
Explain the modern definition of economics?
Illustrates the Barometric technique of Demand Forecasting?
Explain the pricing under price leadership.
Assume that you require studying six hours per week to earn a ‘C’, nine hrs a week to earn a ‘B’, and 15 hrs per week to earn an ‘A’. This would mean: (i) Raising returns to hrs studied. (ii) Diminishing returns to hrs studied. (iii
18,76,764
1929989 Asked
3,689
Active Tutors
1414602
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!