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Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost it will be seen from that the vertical distance between the TVC curve and TC curve is constant throughout. This is because the vertical distance between the TVC and TC curves represents the amount of total fixed cost which remains unchanged as output is increased in the short run. It should also be noted that the vertical distance between the total cost curve (TC) and the total fixed curve (TFC) represents the amount of total variable costs which increase with the increase in output. The shape of the total cost distance always separated the two curves.
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
#question.what is the periodc clasification?.
Answer in true or false 1. "Improvements in environmental quality of a recreational site will, all other things being equal, increase consumer surplus of individuals that visit
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
what is the indirect utility/
nm utility index
explain how scarcity impacts choice 2.expain the three steps process in economic analysis
Capital Account: The capital account deals with long and short-term capital movement.These capital movements are referred to as autonomous because they take place for business o
what are the forecasting techniques
1. National Marine Fisheries Service is considering closing a large area of federal waters to fishing in Alaska due to negative interactions of fishing with endangered Steller sea
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