How would you find the variable cost???
when given ""if price was $3.00 and the fixed cost was $5.00"" and the following table...
Output---------------1
Price---------------$5.00
Total Cost--------$10.00
Total Revenue--$5.00
How is it possible to know that without knowing what the cost per unit it? Or is it hidden in the above information and I am not figuring it correct? I do know the marginal cost so do I use that some how??
Thanks!
2007-11-16 01:47:47 · 1 answers · asked by Aww, too bad 2 in Social Science ➔ Economics
variable cost = Total Cost - fixed cost
$10.00 - $5.00 = $5.00
As output is 1 unit, average variable cost = $5.00 ($5.00 / 1)
So, the formula is:
variable cost = $5.00 * output
2007-11-16 02:38:32 · answer #1 · answered by Olga Z 4 · 5⤊ 0⤋
How To Find Variable Cost
2016-12-12 16:16:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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2014-04-18 17:52:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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RE:
Variable cost formula?
How would you find the variable cost???
when given ""if price was $3.00 and the fixed cost was $5.00"" and the following table...
Output---------------1
Price---------------$5.00
Total Cost--------$10.00
Total Revenue--$5.00
How is it possible to know that without...
2015-08-05 22:34:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋