Q.1) The Metal Works Inc. received an order for 500 metal gates. The fixed cost is assumed to be $40000. The selling price is set at $200 each. The following table shows the list of variable costs. (10 marks) Items Cost Metal sheets 15 Pins and screws 60 paints 35 From the given information above, calculate the following: a) Total Revenue

Q.1) The Metal Works Inc. received an order for 500 metal gates. The fixed cost is assumed to be $40000. The selling price is set at $200 each. The following table shows the list of variable costs. (10 marks) Items Cost Metal sheets 15 Pins and screws 60 paints 35 From the given information above, calculate the following: a) Total Revenue

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?
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