Average cost for a meal is $4.
<h3>
Formula:</h3>
Average cost = Total cost/ no. of goods produced
In this case:
Avg. cost = $600/150 = $4
<h3>What is Average Cost ?</h3>
- Calculating average cost, sometimes referred to as unit cost, requires multiplying the entire cost by the quantity of an item produced.
- The average cost has a significant impact on how much firms charge for their products. Average cost, sometimes referred to as average total cost or cost per output unit, is the price paid for an item (ATC).
<h3>How to find the Average cost ?</h3>
- We may calculate the average cost by multiplying the overall cost by the whole volume of output. By dividing the overall cost by the total output, one may get the average cost or production cost per unit.
- The long-term price and supply of a product are determined by the average cost. The typical cost includes normal profits.
- Therefore, if a commodity's price is higher than its average cost, the corporation will profit more. However, if the price is below the average cost, the business loses money.
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Answer:
Activity expected duration = 2.333
Explanation:
Given:
Optimistic (a) = 1
Most likely (m) = 2
Pessimistic (b) = 5
Activity’s expected duration = ?
Computation of Activity expected duration:
Activity expected duration = [1 + 4(2) + 5] / 6
Activity expected duration = [1 + 8 + 5] / 6
Activity expected duration = [14] / 6
Activity expected duration = 2.333
The perpetual equivalent annual cost is - $35013
<h3 /><h3>The perpetual annual cost calculation</h3>
interest i = 10%
Period = n = 7 years
Formula
A/F = i/(1+i)^n-1
= 0.1/(1+0.1)^7-1
= 0.1054
The perpetual annual cost
= -250000*0.1-95000(0.1054)
= -25000-10013
= - 35013
Therefore the perpetual equivalent annual cost is $35013
If the price elasticity of demand for a product is -2.5, then a price cut from $2.00 to $1.80 will <u>increase </u>the quantity demanded by about <u>2.5%</u>.
Price elasticity of call for is a measurement of the trade in the intake of a product on the subject of exchange in its price. Expressed mathematically, it's miles: charge Elasticity of demand = percent trade-in quantity Demanded / percentage trade-in rate.
we are saying a great is price elastic whilst growth in prices causes a bigger % fall in demand. e.g. if fee rises 20% and demand falls 50%, the PED = -2.five. Examples consist of Heinz soup.
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