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Calculating Total, average and marginal costs
Cost=Total Fixed Cost/Total Output
Average Fixed Cost=Total Fixed Costs/Total Output
Average Variable Cost=Total Variable Costs/Total Output
Average Total Cost=Total Costs/Total Output
Marginal Cost=Change in TC for producing
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Fixed and Variable Cost
This solution explains how to calculate:
1) Variable cost / unit
2) Total cariable cost
3) Fixed cost / unit
4) Total fixed cost
5) Total cost
6) Total cost / unit
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Total Cost of Hazen Corp
The total variable cost.
b. The total fixed cost.
c. The total cost.
d. The average variable cost per unit.
e. The average fixed cost per unit.
f. The average total cost per unit. a. The total variable cost.
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Fixed Costs and Variable Costs
The variable cost per unit is:
The total variable cost is:
The fixed cost per unit is:
The total fixed cost is:
The total cost for 1,000 units is:
The total cost per unit is:
(3) What is the cost for 6,000 units?
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Determining the best manufacturing process
=$1,125,000
Total Cost=TFC+TVC=100000+1125000=$1,225,000
Option 2, FMS
Total Fixed Cost=TFC=$200,000
Total Variable Costs=TVC=14*75000=$1,050,000
Total Cost=TFC+TVC=200000+1050000=$1,250,000
Option 3, DM
Total Fixed Cost=TFC=$500,000
Total
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Computing Fixed, Variable, and Total Unit Costs
Total costs = Total fixed costs + Total variable costs
$18,824 = $5,600 + Total variable costs
Total variable costs = $13,224
Total wagons = 1,450
Wagon variable cost = $13,224/1,450 = $9.12
Total cost = Total fixed cost + (Wagon variable
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Short-Run Average and Total Cost
158979 Short-Run Average and Total Cost True or False? Please explain your reasoning.
a. The short-run average total cost can never be less than the long-run average total cost.
b.
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costs
The average variable cost is constant, because the total number of workers and the wage rate is constant. The average total cost would also remain constant, because the total fixed cost and the total variable cost stays constant.
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Production Cost Analysis: Calculating MC, AVC, ATC and Output of the Firm
Total Cost=Fixed cost + Variable cost
=Fixed cost+ worker employed*wage rate
=3600+20*60=$4800
Average total cost=Total cost/total output=4800/600=$8
e) Is average variable cost increasing, constant, or decreasing?
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Using Excel to Calculate All Cost Curves
Total cost
Total fixed Cost
Total variable cost
Average total cost
Average fixed cost
Average variable cost
Marginal cost
Plot these curves on graphs
Compare the cost curves and discuss their characteristics.