Difference between average cost and total fixed costs
What are the difference between average cost and total fixed cost?
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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.
Throughout the past 50 years in the United States, there the average gains in lifetime income related along with having a college degree in addition to a high school diploma have: (1) declined since the larger proportion of the population that is college educated has
Illustrates the factors affecting Demand Forecasting?
All profit-maximizing firms will hire further labor up to the point where is the: (w) average physical product of labor equals the nominal wage. (x) last unit of labor adds equally to total revenue and total cost. (y) marginal product of labor is at i
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Define the term opportunity cost concept.
THE PRICE OF OIL IS $30 PER BARREL AND THE PRICE ELASTICITY IS CONSTANT AND EQUAL TO -0.5.AN OIL EMBARBGO REDUCES THE QUANTITY AVAILABLE BY 20 PERCENT.USE THE ARC ELASTICITY FORMULA TO CALCULATE THE PERCENTAGE INCREASE IN THE PRICE OF OIL
General training occurs while a: (w) secretary learns a new office procedure. (x) handyman learns to drive a semi-truck. (y) messenger learns the company’s in-house mail route. (z) navy recruit learns how to repair a guided missile.
Along two supply curves which are straight lines by the origin, the price elasticity of supply as: (w) is below 1 for all prices and quantities upon both curves. (x) is less for a given quantity beside the steeper curve. (y) equals on
An individual’s labor supply curve is negatively sloped that is backward-bending into a range of wages while the: (i) demand for goods exceeds the demand for leisure. (ii) worker offers more hours of labor while the wage rate in
The income effect of a small varies in the wage rate dominates the substitution effect for this worker at point: (w) point a. (x) point b. (y) point c. (z) point d. Discover Q & A Leading Solution Library Avail More Than 1443117 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1937145 Asked 3,689 Active Tutors 1443117 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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