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1. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions.
a. Which inputs are fixed inputs? Which are the variable inputs? b. How much are your fixed costs? c. What is the variable cost of producing 20 units of output? d. How many units of the variable input should be used to maximize profits? e. What are your maximum profits? f. Over what range of variable input usage do increasing marginal returns exist? g. Over what range of variable input usage do decreasing marginal returns exist? h. Over what range of variable input usage do negative marginal returns exist?
Purchase of office supplies.
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what are importance of cost classification
The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs @ Rs.4.80 Kg. Direct Labour Type I 6
to determine product cost:
You sell a machine for $600,000. You allow the client to pay 1/3 at the time of the sale and 1/3 at the end of year one and 1/3 at the end of year two. The company earns 10% on ass
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WHAT IS VARIABLE COST
Absorption of Non Production Overheads in Production Cost Product costs may be compiled for a range of purposes including a) Stock valuation b) Product pricing c) Dec
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