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How does the law of decreasing marginal utilityin addition how does it Wesley against the wealth effect?
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How do you calculate marginal cost?
Given the data on fixed and marginal Costs we require the number of units produced to ascertain the Average Total cost, from the MC we an get the TC but to calculate ATC we need the data on total quantity produced
What are the relationship between marginal cost and average total cost schedule?
Marginal cost is the cost incurred in producing an additional unit of a product. It is the cost per unit of a product as against the total cost. It is therefore the variable cost of producing one more unit of a product.Average total cost is the total cost of production at an activity level. it is the total cost of divided by the total production.Whiles marginal cost shows the cost incurred in producing an additional unit of a product, average cost shows the total cost of production per unit.Just a small addition to this thought:Think of the marginal cost as being at a point in time, whereas the average total cost is calculated over a period of time. As a result, marginal cost at any given point may be higher or lower than an average total cost.Quick example:ABC manufactures a product they call Widget AWidget A sells for a price of $20ABC sells 1,000 units of Widget AFixed costs for this production run are $5,000, regardless of # of units soldVariable costs are $12 per unitGross Revenues $20,000Fixed Cost Expense $ 5,000Variable Cost Expense $12,000Gross Profit $ 3,000Breakeven # of units can be calculated as follows:20x = 5000 + 12x. Solving for x gives 625 units to break even. At this point the Average Transaction Cost equals the selling price of $20 per unit. As each additional unit is produced the ATC will decrease since the only additional cost is the variable cost of $12 per unit. Therefore, in this very simple example, the MARGINAL COST of producing each unit OVER 625 would be the $12 variable cost expense. In the example above, at 1,000 units the Average Transaction Cost is $17 ($5 per unit for Fixed and $12 per unit for Variable), which is a decrease from the $20 ATC at break even.
How does typical demand curve look like?
Assuming it is the curve of the number of items demanded against the price, it is a downward sloping or monotonic decreasing curve in the first quadrant. This means that, at any point, the curve is going from the top left to the bottom right.
Who has more marginal propensity to consume someone who simply lost interest in a product and instead of spending is now saving that money or someone who lost his or her job?
Product depending, an individual who has simply lost interest holds greater purchase power than one who is currently under economic duress. However, to negate one against the other is poor long term strategic planning. Economies recover, forgive and forget. People don't.
Why is indifference curve of normal good convex to origin?
Indifference curves are convex to the point of origin of the two axes. The curve is relatively steep at first in its left hand portion and tends to become flatter in its right hand portion. Thus, as we move along the curve from left downwards to the right, the absolute slope of the indifference curve decreases.. This property of indifference curve is based on the principle of diminishing marginal rate of substitution, explained in the previous section. In Fig., as the consumer reduces the consumption of commodity 'Y' and increases the consumption of commodity 'X', his urge for more units of 'X' declines continuously. On the other hand, he is willing to part with fewer and fewer units of commodity' Y' at each stage to obtain each additional unit of 'X'. In other words, the marginal rate of substitution of 'X' for 'Y' declines, as the consumer travels down on an indifference curve.Fig.Suppose, 'A', 'B', 'C', and 'D' are four points on indifference curve IC in Fig.. Initially, the consumer is willing to part with Y1 Y2 units of commodity' Y' to get one unit X1 X2 of commodity 'X'. For additional one unit X2 X3 of 'X', he is ready to sacrifice Y2 Y3 units of 'Y'. For next one unit X3 X4 of 'X', the consumer would like to give up only Y3 Y4 units of 'Y'. Clearly, the increase in 'X' commodity is uniform, whereas 'Y' commodity is decreasing at a diminishing rate. Symbolically,X1 X2=X2 X3=X3 X4,whileY1 Y2 >Y2 Y3 >Y3 Y4Hence, indifference curves are convex to the origin. Concavity of the indifference curves is against the principle of diminishing marginal rate of substitution.
How do you calculate marginal cost?
Given the data on fixed and marginal Costs we require the number of units produced to ascertain the Average Total cost, from the MC we an get the TC but to calculate ATC we need the data on total quantity produced
Dose the wind have an effect on the distance a softball can travel?
yes..."As a softball flies through the air, the air pushes back against it, resisting its motion and decreasing the distance the ball travels."...that is why
What In addition to stating basic human rights the declaration of independence presented?
a list of grievances against the british crown
What are the relationship between marginal cost and average total cost schedule?
Marginal cost is the cost incurred in producing an additional unit of a product. It is the cost per unit of a product as against the total cost. It is therefore the variable cost of producing one more unit of a product.Average total cost is the total cost of production at an activity level. it is the total cost of divided by the total production.Whiles marginal cost shows the cost incurred in producing an additional unit of a product, average cost shows the total cost of production per unit.Just a small addition to this thought:Think of the marginal cost as being at a point in time, whereas the average total cost is calculated over a period of time. As a result, marginal cost at any given point may be higher or lower than an average total cost.Quick example:ABC manufactures a product they call Widget AWidget A sells for a price of $20ABC sells 1,000 units of Widget AFixed costs for this production run are $5,000, regardless of # of units soldVariable costs are $12 per unitGross Revenues $20,000Fixed Cost Expense $ 5,000Variable Cost Expense $12,000Gross Profit $ 3,000Breakeven # of units can be calculated as follows:20x = 5000 + 12x. Solving for x gives 625 units to break even. At this point the Average Transaction Cost equals the selling price of $20 per unit. As each additional unit is produced the ATC will decrease since the only additional cost is the variable cost of $12 per unit. Therefore, in this very simple example, the MARGINAL COST of producing each unit OVER 625 would be the $12 variable cost expense. In the example above, at 1,000 units the Average Transaction Cost is $17 ($5 per unit for Fixed and $12 per unit for Variable), which is a decrease from the $20 ATC at break even.
How would you reduce the air resistance of an object?
By decreasing the surface area of the surface in direct contact with opposing force of air.. NAMAN By making an object slim, sharp and by moving it against or after the air. \\~OverLordGoldDragon~//
How much does a gigabyte of bandwidth cost around the world?
January 28, 2011"Netflix V.P. of communications Steve Swasey told us via email:...The marginal cost to deliver a marginal gigabyte over a wired network is less than a penny..."LESS THAN A PENNYhttp://www.torontolife.com/daily/hype/the-interweb/2011/01/28/how-do-canadian-isps-stack-up-against-the-u-s-netflix-has-the-answer/
What are the safety ratings for the Toyota Camry?
The safety ratings for the Toyota Camry are: good, acceptable, marginal and poor. These are based on performance in high-speed plus evaluations of seat/head restraints for protection against neck injuries in rear impacts.
Can any toilet hurt you?
Yes. In addition to harboring diseases, toilets hurt when you hit your head against them as you pass out after throwing up.
How did the democratic party feel about slavery?
They supported it. It was only the Republicans who were against slavery. In addition, the Democrats created the Ku Klux Klan.
What is queen Cleopatra biggest achievements?
Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.Cleopatra only had two achievements in her entire reign. The first was getting and keeping the throne. The second, was the addition of territory given to her by Marc Antony in exchange for her financing his military efforts against Octavian.
What addition to hermias family is made in A Midsummer Night's Dream?
Lysander, who becomes Hermia's husband and Egeus's son-in-law (much against his will).
What companies write decreasing term life?
There are fewer and fewer these days because it is not of good value. I highly recommend against it. A straight term life will serve you better. One with a return of premium will be even better than that.
