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

What is inventory, Q. What is Inventory? Inventory -- Supply or stock o...

Q. What is Inventory? Inventory -- Supply or stock of products and goods that a company has for sale. Amanufacturer may have 3 kinds of inventory: raw materials waiting to be c

Financial accounting standards boards conceptual framework, Q. Financial ac...

Q. Financial accounting standards boards conceptual framework? Experts have discussed the exact nature of the basic concepts and related principles composing accounting theory

Non-compliance, Elaborate the consequences of non-compliance of each of the...

Elaborate the consequences of non-compliance of each of the accounting concepts.

Net realizable value , A)Guerrero Company occupied in the following events ...

A)Guerrero Company occupied in the following events during 2012: 1. Began operations by issuing common stock to investors for $40,000 cash 2. Given services to customers on a

Consignment, A of surat consigned goods to b of jaipur

A of surat consigned goods to b of jaipur

Office equipment for cash, Purchased trucks and office equipment for cash ...

Purchased trucks and office equipment for cash Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks ar

Trading profit & loss, trial balance as at may 31 19*6 ...

trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return

The following stockholders'' equity accounts arranged, The following stockh...

The following stockholders' equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Common Stock ($10 stated value) $1,500,0

Accounting systems from manual to computerized, Q. Accounting systems from ...

Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and

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