Determine the cost change factor in the following cases and identify the types of costs in them. The cost of producing 2,000 items resulted in 4,500,000 dollars and 4,725,000 dollars was the amount when 2,100 items were produced. Complete the following sentences with the results of solving the problem. While the volume increased by percent, the amount of costs increased by percent. That is, a percent increase in volume is accompanied by a percent cost increase. Costs included in the task is costs.
Determine the cost change factor in the following cases and identify the types of costs in them. The cost of producing 2,000 items resulted in 4,500,000 dollars and 4,725,000 dollars was the amount when 2,100 items were produced. Complete the following sentences with the results of solving the problem. While the volume increased by percent, the amount of costs increased by percent. That is, a percent increase in volume is accompanied by a percent cost increase. Costs included in the task is costs.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 1SQP
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Transcribed Image Text:Determine the cost change factor in the following cases and identify the types of costs in them.
The cost of producing 2,000 items resulted in 4,500,000 dollars and 4,725,000 dollars was the amount when 2,100
items were produced.
Complete the following sentences with the results of solving the problem.
While the volume increased by
percent, the amount of costs increased by
percent.
That is, a
percent increase in volume is accompanied by a
percent cost increase.
Costs included in the task is
costs.
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