What is the total cost in this outcome (Firm A's total cost + Firm B's total cost)?What is the total cost in the efficient outcome (assuming that the price is $3 and four units are produced in total)?
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举一反三
- A competitive firm maximizes profit by choosing the quantity at which ( ) A: average total cost is at its minimum. B: marginal cost equals the price. C: average total cost equals the price. D: marginal cost equals average total cost.
- In the long run Firm A incurs total costs of $1,200 when output is 30 units and $1,600 when output is 40 units. Firm A exhibits_________. A: constant returns to scale because average total cost is constant as output rises B: diseconomies of scale because total cost is rising as output rises C: economies of scale because average total cost is falling as output rises D: diseconomies of scale because average total cost is rising as output rises
- What is the base of selling price A: the cost of production B: a percentage of total cost C: the cost of transportation D: the cost of storage.
- An organisation manufactures a single product. The total cost of making 4,000 units is $20,000 and the total cost of making 20,000 units is $40,000. Within this range of activity the total fixed costs remain unchanged.What is the variable cost per unit of the product?
- The total of direct materials, direct labour and direct expenses is known as: A: Production cost B: Overhead C: Prime cost D: Total cost