What is the marginal cost and average total cost, Accounting Basics

Below is a table with total data for a firm in a perfectly competitive industry.

Quantity

Total Cost

0

100

10

220

15

300

20

360

25

450

30

600

35

770

40

960

a. What is the marginal cost and average total cost for the firm at each level of output?

b. If the prevailing market price is $34 per unit, how many units will be produced and sold? What are the profits per unit? What are total profits?

c.  Is the industry in long run equilibrium at this price? If not, what do you expect to happen to price over time?

 

Posted Date: 4/1/2013 5:51:32 AM | Location : United States







Related Discussions:- What is the marginal cost and average total cost, Assignment Help, Ask Question on What is the marginal cost and average total cost, Get Answer, Expert's Help, What is the marginal cost and average total cost Discussions

Write discussion on What is the marginal cost and average total cost
Your posts are moderated
Related Questions
You have been asked to ready a bill for services. What information should be contained in the bill? Ans) Service Provider's Details (i.e) Organization name and address. Ser

Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i


on 1st july,2008,machinery purchased rs10,000 for cash from bhim.give journal entry and prepare ledger accounts.

State about the Trade discounts Percentage reduction from list price of the merchandise. These aren't recorded in the accounting records of the seller or buyer. Buyer always

#c

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.

Q. Example of Adjustments for deferred items? A real physical inventory a count of the supplies on hand at the end of the month showed only USD 900 of supplies on hand. Therefo

What is the implication of applying accounting concepts wrongly