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What are the resources allocation under perfect competition?
In economics, perfect competition is a structure that allocates resources as efficiently as possible. When this happens, price and marginal cost are equal.
How can I determine the selling price of a product or service?
To determine the selling price of a product or service, you can calculate the total cost of production, including materials, labor, and overhead expenses. Then, add a desired profit margin to this cost to arrive at the selling price. Additionally, consider market demand, competition, and customer willingness to pay when setting the selling price.
How can one calculate the average cost in economics?
To calculate the average cost in economics, you divide the total cost by the quantity of goods produced. This gives you the cost per unit, which is the average cost.
In economics what is cost?
cost of what you give up to get it
A perfect competition firm sells 15 units of output at the going market price of 10suppose it average fixed cost is 15 and its average variable cost is 8what is its contribution of fixed cost?
Selling price = 10 Variable cost = 8 Contribution = 2 per unit
What are the resources allocation under perfect competition?
In economics, perfect competition is a structure that allocates resources as efficiently as possible. When this happens, price and marginal cost are equal.
When the cost of producing an item is greater than the selling price what is this called in terms of economics?
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How is target cost determined?
Target cost is determined by subtracting the desired profit margin from the target selling price. By understanding customer needs and competition, a company can set a competitive selling price. This allows the company to then calculate the target cost by subtracting the profit margin from the selling price.
How can I determine the selling price of a product or service?
To determine the selling price of a product or service, you can calculate the total cost of production, including materials, labor, and overhead expenses. Then, add a desired profit margin to this cost to arrive at the selling price. Additionally, consider market demand, competition, and customer willingness to pay when setting the selling price.
How can one calculate the average cost in economics?
To calculate the average cost in economics, you divide the total cost by the quantity of goods produced. This gives you the cost per unit, which is the average cost.
Define cost price and selling price?
define cost and selling price
In economics what is cost?
cost of what you give up to get it
Is selling cost a period cost?
Yes selling cost not directly relate to production of units that's why it is period cost.
Was the Punic wars worth the cost?
To Rome it was - it emerged in control of the Western Mediterranean, and with a springboard into the Eastern Mediterranean. To the Carthaginians, no, Rome finished off their competition by selling them all into slavery.
Are sales commissions classified as period costs?
They are classified as a selling cost or nonmanufactoring cost. They are classified as a selling cost or nonmanufactoring cost.
A perfect competition firm sells 15 units of output at the going market price of 10suppose it average fixed cost is 15 and its average variable cost is 8what is its contribution of fixed cost?
Selling price = 10 Variable cost = 8 Contribution = 2 per unit
Who do you get percentage of loss to ratio?
% loss = ((selling price - cost)/cost x 100 Ratio of loss to cost? (selling price - cost)/cost
