The total benefits to society are greater tham the total cost.
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
Selling price = Total Cost (Total Variable cost + Total fixed cost) + profit margin
To calculate the Total Cost without Total variable cost, one should estimate for the variables or substitute for the variables with a variable such as X or Y and then solve for the approximate total cost.
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.
The total benefits to society are greater tham the total cost.
What might be a rule of thumb for the cost of operating a private jet? Say a Gulfstream G550? Total Variable Cost for the G550: $2,153
Overhead cost is part of total cost and not different from total cost as formula is as follows: Total cost = material cost + labor cost + overhead cost
Formula for Total Cost: Fixed Cost + Variable Cost + Semi-Variable Cost if there is no semi-variable cost then fixed cost + variable cost is a total cost. if we devide the total cost with volume as well then it will be cost per unit not total cost
The simple rule is that if every order requires shipping fee then it is variable cost because as many as the number of orders variable cost will vary as well, but if total shipping cost remain as fixed amount no matter how many orders are shipped the shipping cost is classified as fixed cost.
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
Selling price = Total Cost (Total Variable cost + Total fixed cost) + profit margin
total variable cost
Dees nuts
Total cost is fixed cost + variable cost (TC=FC + VC)
To calculate the Total Cost without Total variable cost, one should estimate for the variables or substitute for the variables with a variable such as X or Y and then solve for the approximate total cost.
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.