Average total cost is minimized at 10 units of output.
As per the relationship between the two, at such a point average cost is the lowest and after that, from the next unit onwards it starts rising.
<h3>By marginal cost, what do you mean?</h3>
The term "marginal cost" describes the rise in manufacturing costs brought on by the creation of more product units. A different name for it is the marginal cost of production. Businesses may evaluate how volume produced affects cost and, eventually, profitability by calculating the marginal cost.
<h3>What does "total average cost" mean?</h3>
The average total cost is calculated by dividing the total cost of production by the total output. In other words, the average cost is the sum of the firm's total fixed and variable costs divided by the sum of the units it produces.
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Answer:
$11,800
Explanation:
Calculation to determine the gross margin that will be shown on the income statement bartley
First step is to calculate the Cost of goods sold
Cost of goods sold = 5,100 + 9,900 + 1,350 - 1,150 - 5,500
Cost of goods sold = $9,700
Now let determine the Gross margin
Using this formula
Gross margin=Sales-COGS
Let plug in the formula
Gross margin = $21,500 - $9,700
Gross margin = $11,800
Therefore the gross margin that will be shown on the income statement bartley is $11,800
By trying to get customers to spend more time in the store and purchase additional products, grocerants use marketing strategic opportunities.
A marketing strategy is a long-term plan to achieve a company's goals by understanding customer needs and creating a clear and sustainable competitive advantage. This includes everything from identifying customers to deciding which channels to use to reach those customers.
You are the product, the price, the place, the promotion. The 4 Ps are often referred to as the marketing mix.
Marketing strategies are the ability of a company to effectively differentiate itself from its competitors by leveraging its strengths (current and future potential) to consistently provide customers with superior value to its competitors. It's a way to convert
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