if you are given the labour from 0,1,2,3,4,5,6 and total product from 0,20,45,65,80,90,95 and total fixed cost N$ 300 and more and more unit labour cost at N$ 100 given all this caculate the total varible cost and the total cost
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.
To calculate profit in economics, subtract total costs from total revenue. Profit is the amount left over after all expenses have been paid. It is a key measure of a business's financial success.
To find the total cost in economics, add up all the expenses incurred in producing a good or service. Factors to consider in the calculation include fixed costs, variable costs, and opportunity costs. Fixed costs are expenses that remain constant regardless of production levels, while variable costs change with production. Opportunity costs refer to the value of the next best alternative foregone.
Average total cost is the average of all your costs. This is your Fixed Costs and your Variable costs. Average Variable Cost is the average of your costs that can fluctuate.
Variable operating costs + fixed operating costs = total operating costs.
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.
Easiest way: Total costs per unit - fixed costs per unit = variable cost per unit. Also recatting into accounting.
To calculate profit in economics, subtract total costs from total revenue. Profit is the amount left over after all expenses have been paid. It is a key measure of a business's financial success.
To find the total cost in economics, add up all the expenses incurred in producing a good or service. Factors to consider in the calculation include fixed costs, variable costs, and opportunity costs. Fixed costs are expenses that remain constant regardless of production levels, while variable costs change with production. Opportunity costs refer to the value of the next best alternative foregone.
Total variable costs are the sum of expenses which change proportionally as the price of services and goods fluctuate. The total marginal costs above produced units is also referred to as total variable costs.
Average total cost is the average of all your costs. This is your Fixed Costs and your Variable costs. Average Variable Cost is the average of your costs that can fluctuate.
Variable operating costs + fixed operating costs = total operating costs.
Total cost is determined by adding fixed costs and variable costs together. fixed cost + variable cost = total cost
To calculate average fixed cost in economics, you divide total fixed costs by the quantity of output produced. This gives you the average fixed cost per unit of output.
First of all total cost of product is identified and after that using high and low method variable and fixed costs are segregated
If material cost is variable cost then yes by decreasing material cost company can reduce total variable cost.
To calculate total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.