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

Central Depository System, I am requesting for literature review and past s...

I am requesting for literature review and past studies on CDS.

Amount of stockholders'' equity, At the starting of the year, Hernandez Com...

At the starting of the year, Hernandez Company had total assets of $872,310 and total liabilities of $497,500. (a) If total assets enhanced $147,320 during the year and total li

Corporations are subject to specific corporate tax rates, Corporations are ...

Corporations are subject to specific corporate tax rates different from those for individuals. True False

What do you understand by term offshore bank, Question 1: (a) What do ...

Question 1: (a) What do you understand by term offshore bank? (b) What are the benefits of providing and receiving banking services from an offshore bank? (c) Explain

Define Accounting. Briefly explain the accounting concepts w, Define Accoun...

Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.

Traiinng progrum, How to perform a basic accounting training progrum ..

How to perform a basic accounting training progrum ..

Accounting equation, Ower invested cash in the company along with equipment...

Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?

Which accounting concept this?, All relevant information and explanations a...

All relevant information and explanations about a business have been included in its financial reports

Revaluation model, Is there nay depreciation needed to perform when the rev...

Is there nay depreciation needed to perform when the revaluation model is applied to the asset?

Effects of failing to prepare adjusting entries, Q. Effects of failing to p...

Q. Effects of failing to prepare adjusting entries ? Failure to organize proper adjusting entries causes net income and the balance sheet to be in error. You are able to see the

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages