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Total cost is the sum of the?
fixed and variable costs
What is the sum of variable and fixed cost?
The sum of variable and fixed costs is known as total cost. Variable costs change with the level of production or sales, such as raw materials and labor, while fixed costs remain constant regardless of output, such as rent and salaries. Together, they represent the overall expense incurred by a business in producing goods or services. Understanding this sum helps businesses in budgeting and pricing strategies.
Suppose that you have been planning on processing 50 extra documnets this weekend for a total cost of 250. Given that the variable cost of processing one document is 1 what is hte total fixed cost ass?
To find the total fixed cost, we can use the formula for total cost, which is the sum of fixed costs and variable costs. The variable cost for processing 50 documents at $1 each is 50. Therefore, the total cost of $250 can be expressed as: Total Cost = Fixed Cost + Variable Cost, or $250 = Fixed Cost + $50. Solving for Fixed Cost gives us $250 - $50 = $200. Thus, the total fixed cost is $200.
The total cost is the sum of what?
When you see TC = Total Costs on a break even chart it stands for Variable, Semi-variable and fixed costs....thus the total cost.
What will an increase in taxes on consumers most likely cause?
This depends on what type of tax it is, lump sum or marginal.Lump sum: a lump sum consumption tax would not affect the general level or composition of consumption because fixed quantities do not affect optimal consumption-savings decisions.Marginal tax: if the marginal tax increased (i.e.) a general sales tax increase), it would decrease overall consumption because the tax would be an increase in the cost of consuming, and thus encourage the consumer to save more money and consume less.
What is the total fixed cost?
Total fixed cost refers to the sum of all costs that do not change with the level of production or sales within a certain range. These costs remain constant regardless of the output level and typically include expenses such as rent, salaries, and insurance. Understanding total fixed costs is crucial for businesses as it helps in determining the break-even point and overall profitability.
Different between prime cost sum and provisional sum?
one has ' prime cost' in front of the word 'sum' and the other has the word 'provisional' in front of 'sum'
The sum of the value added by all firms equals total?
The market value of the final product
IS E P C Contract as a fixed sum price?
kind of.
Why is marginal cost unaffected by lump sum tax?
Marginal cost is the cost to the firm of producing one more unit of output - it is affected by the same factors that affect variable costs. A lump sum tax does not affect this relationship whereas a tax on the marginal unit produced will; such as an ad valorem tax. If a lump sum tax is imposed on a producer this will NOT affect his profit maximising decisions as his output decisions are always based on the margin. He will set MC = MR as per normal but will endure lower profits as the AC has increased. It is important to understand the distinction between marginal and average in this case and the consequences that marginal tax has on behaviour of the firm.
Resource availability does not affect what?
DMETL
What is sum of production cost?
The total cost of producing a widget.
