The production function will shift upward,while AC,AVC,MC and AFC will shift downward. AS will shift to the right. That will cause price to rise,while quantity will increase.
6 Answers · Social Science · 27/05/2013
AFC= TFC/ Output or 200 / 4 . AVC =TVC/Output or 60/4 MC = Change in total cost. 4unit TC = 260 1 unit TC = ? 2 Unit TC = ? see the difference in cost . Pl. try it.
1 Answers · Social Science · 04/05/2013
B is correct because price cannot cover average variable cost. P<AVC.
1 Answers · Social Science · 26/04/2013
To find out use these formulas- 1.FC = AFC X Q 2.TC = ATC X Q 3.VC = ...
1 Answers · Social Science · 21/04/2013
....But the formulas are the following- 1.AFC = TFC/Q 2.ATC =TC/Q 3.AVC = TVC...
2 Answers · Social Science · 21/04/2013
- related to AFC