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

Assignment Help:

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?

 


Related Discussions:- What is the marginal cost and average total cost

Suspense account, The book of Deven Verma could not be tallied. The account...

The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later

what is the equilibrium price and quantity, The widget industry is perfect...

The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s  = 40 +   8P a.  What is the equi

Show depreciation formula with example, Q. Show depreciation formula with e...

Q. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (

Assets, paid rent $200 by cash

paid rent $200 by cash

Rounding decimals, How do you round up to one decimal point using percentag...

How do you round up to one decimal point using percentages? Example 0.207 Thanks

Fringe benefit tax, Define FBT (Fringe Benefit Tax)? Ans) The tax payabl...

Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may

Ledger, “Ledger is said to be the principal book entry and the transactions...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”

Describe about ledger, Q. Describe about ledger? A ledger (general ledg...

Q. Describe about ledger? A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form

Accounting Fundamentals, “Ledger is said to be the principal book entry and...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Help., How would I do this make it and adjustment account revenue 300.00 of...

How would I do this make it and adjustment account revenue 300.00 of supplies on hand 100.00 of unearned revenue is still unearned at the end of the month Accured salaries are 280

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd