Evaluate total cost - fixed and variable, Managerial Economics

Assignment Help:

Q. Evaluate Total Cost - Fixed and Variable ?

Total cost (TC) of the firm is a function of output (q). It would increase with the increase in output, which is, it differs directly with the output. In symbols, it can be written as

TC = ƒ (q)

Because the output is produced by variable and fixed factors, Total cost can be divided into two components: total variable cost (TVC) and total fixed cost (TFC).

TC = TFC + TVC


Related Discussions:- Evaluate total cost - fixed and variable

Structure, structure of managerial economics

structure of managerial economics

Describe managerial and behavioural theories, Q. Describe Managerial and be...

Q. Describe Managerial and behavioural theories? It was only in 1960s that neo-classical theory of firm was disputed by alternatives like behavioural and managerial theories. M

International financial institutions, INTERNATIONAL FINANCIAL INSTITUTIONS ...

INTERNATIONAL FINANCIAL INSTITUTIONS In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary

Define thevariable factor of production, Define theVariable factor of produ...

Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact

Permanent income hypothesis, What is the Permanent Income Hypothesis? What ...

What is the Permanent Income Hypothesis? What is the theory's potential relevance for assessing the effects of temporary tax cuts for the purpose of fiscal stimulus? If you were

Components of demand forecasting system, Market research operations to obta...

Market research operations to obtain reliable and relevant information about the trends in market. A data analysing and processing system to estimate as well as evaluate the s

Convertible national currencies, Convertible National Currencies Curre...

Convertible National Currencies Currencies are convertible when holders can freely exchange them for other currencies. There are several advantages in using a particular natio

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