Answer:
To minimise cost, the firm should lay off worker and rent more computer as it give more output per dollar invested on it. This reduce the fixed cost of the company drastically and increase the production of the company. The marginal cost of production and marginal revenue are economic parameter, which help to determine the amount of output and price per unit of input that will maximise the profits. The point at which marginal revenue is equal to marginal cost maximise the profit.
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Answer:
C.
Explanation:
Based on the information provided within the question it can be said that the actual meaning of using this term when referring to a firm is the opportunity cost of producing a good or service, which includes both implicit and explicit cost. Meaning what the firm is giving up in order to produce that good or service which can be money, assets, or other opportunities which could be chosen instead.
Answer: $45,000
Explanation:
Direct costs are those that can be traced and attributed to the product being sold or manufactured by the company. They usually include direct labor and direct materials.
As this is a Cosmetics department, the direct labor will be the Department's manager's salary and the Sales commissions.
The Cost of sales will also be a direct cost as they were incurred to sell the product.
Direct Costs = Cosmetics Department manager's salary + Cosmetics Department sales commissions + Cosmetics Department cost of sales
= 4,000 + 4,000 + 37,000
= $45,000