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How do you calculate cost price when selling price and total profit is given?
cost price = selling price - profit
What is the meaning of shutdown point?
The shutdown point is the output level at which total revenue is equal to the total variable cost. Here the product price is also equal to its average variable cost.
How do you measure productivity?
Partial measures output/(single input)Multi-factor measures output/(multiple inputs)Total measure output/ (total inputs)Productivity =(Outputs/inputs)
What the total price of 7.25 sales tax for the price of 22.50?
The total price is $24.13
Total energy input equals equals the useful energy output plus?
Efficiency = ( useful energy output / total energy input ) x 100
What will happen to the equilibrim price level and real GDP if aggregate demand and aggregate supply both increase?
If aggregate demand increases at every price level than the demand curve shifts to the right. In the short-run the new equilibrium forms from an increase in willingness to spend, thus higher prices and higher real GDP or quantity of output. If short-run aggregate supply increases at every price level than the supply curve shifts to the right. From the short-run to the long-run the new equilibrium forms from an increase willingness to sell, thus prices reduce to original equilibrium and output increases further. Recap: Prices stay constant while real GDP or total quantity of output increases.
How do you calculate cost price when selling price and total profit is given?
cost price = selling price - profit
What is TP in economics?
The abbreviation for total product, which is the total quantity of output produced by a firm for a given quantity of inputs.
How do you calculate the unit selling price given the actual total sales revenue?
To calculate the unit selling price given total sales revenues, divide the total sales revenues attributed to the particular good or service for which unit selling price is desired by the number of units sold.
Discuss equilibrium of a firm under monopoly what are the conditions of equilibrium?
when marginal revenue equal to marginal cost,when marginal cost curve cut marginal revenue curve from the below and when price is greter than average total cost
Definition of total product?
Total product refers to the overall quantity of output produced by all units of a factor of production (such as labor or capital) over a specific period of time. It measures the total output generated by a given level of input.
What is the output effect and the price effect for an oligopoly?
Since P>MC for an oligopoly, the output effect is that selling one more unit at the sales price will increase profit.The price effect is that an increase in production will increase the total amount sold, which will decrease the price and decrease the profit on all other units sold.If the output effect is greater than the price effect, the owner will increase production.If the price effect is greater than the output effect, the owner will not increase production (and may even decrease production).Oligopolists will continue to increase or decrease production until these marginal effects balance.
How do you find the unit produced if the TFC and TVC and TR is given?
To find the unit produced when total fixed costs (TFC), total variable costs (TVC), and total revenue (TR) are given, you can first calculate the total cost (TC) using the formula TC = TFC + TVC. Then, to determine the price per unit, divide the total revenue by the number of units sold (TR = Price × Quantity). Finally, rearranging the equation gives you Quantity = TR / Price. If the price per unit is not directly given, you may need additional information to find it.
What is released as one form of energy changes to another form?
Energy. Given that energy can be neither created nor destroyed, the total energy output equals that input, and in a system the ratio of that output energy desired to the total input gives the efficiency.
When price exceeds average variable cost but not average total cost the firm should in the short run?
Minimize total losses by producing at the rate of output where ATC is minimized.
How do we calculate IS equilibrium of national income?
IS equilibrium in national income is achieved when the total output (income) in an economy equals total spending (expenditure). This is represented by the IS curve, which shows the relationship between interest rates and income where investment equals saving. To calculate it, we set the aggregate demand (consumption + investment + government spending + net exports) equal to the aggregate supply (national income) and solve for the income level. At the equilibrium point, any changes in interest rates will shift the IS curve, resulting in a new equilibrium income level.
How do you find the total sales given the total revenue?
By checking one's inventory -- previous inventory minus the current inventory returns the difference that, multiplied by price, and assuming a flat price, would be equal to total revenue.
