Cost considerations for managers, Microeconomics

Assignment Help:

Some Cost Considerations for Managers

* Three guidelines for estimating the marginal cost(MC):
1) Average variable cost should not be used as substitute for the marginal cost(MC).

2) A single item on firm's accounting ledger can have two components, only one of which involves marginal cost(MC).

3) All opportunity cost should be included in determining the marginal cost(MC). 


Related Discussions:- Cost considerations for managers

Economic development, Development: Economic development is the process thr...

Development: Economic development is the process through that a country's economy expands and improves in both qualitative and quantitative terms. Economic development requires co

Sectoral distribution of targeted increase in gdp, MRP Technique- Sectoral ...

MRP Technique- Sectoral Distribution of Targeted Increase in GDP There are two ways of increasing the GDP: (i) Project and accomplish the growth in various sectors through

Business cycle, measures to control business cycle

measures to control business cycle

Demand-pull inflation, The average price level has increased at a relativel...

The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr

Economic profit and economic loss, Economic profit and Economic loss: ...

Economic profit and Economic loss: Economic profit is the excess if total revenue over total cost when the latter includes both explicit and implicit costs. It is the type o

Optimization, Andrew has preference given by: u(x,y) = min{2x, 3y} The pri...

Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W

Social cost, Social cost: Social cost of production refers to the cost...

Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res

Profit maximization, critically analysis firm theory of profit maximization...

critically analysis firm theory of profit maximization?

Individual demand, INDIVIDUAL DEMAND * Price Changes - Using figures...

INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves.  Effect of Price

Market competition., explain why policies for promoting market competition ...

explain why policies for promoting market competition are desireable

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