Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Average Total Cost (ATC): ATC is the total cost per unit of output.
ATC = TC/y = (TFC + TVC)/y = AFC +AVC
ATC falls sharply at the beginning of the production process because both AVC and AFC are declining. When AVC begins rising but AFC is falling steeply, then the ATC continues to fall. Then the AVC rises sharply and offsets the fall in AFC causing the ATC to fall. The shape of the ATC curve is almost u-shaped.
• Marginal Cost (MC): MC is the addition to the total cost generated by increasing production by one unit. It is the slope of the TC curve.
Mathematically, MC = ΔTC / Δy.
The behaviour of the marginal product curve determines the MC curve, which is the inverse of the former.Before to attempt to plot the cost curves, it is important to know the rules of averages and marginal quantities. According to these mathematical rules,
When MC < AC then AC decreases.
When MC > AC then AC rises.
When MC = AC then average costs are at the minimum.
law of demand..
explain the central problem of economy with production possibility curve?
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define
THEORY OF COSUMER BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference
The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol
Summary of Demand and Supply Considerations of Education A study of supply and demand considerations in education helps in understanding four major issues and concerns of an e
Problem: (a) Consider the Classical Linear Regression Model (CLRM) Y i = α + βX i + ε i (i) Using the method of ordinary least squares (OLS), derive an expression for
What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?
why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd