The total cost of manufacturing 1,000 piecesand 2,050 pieces of a certain plastics productare 21,100 and 37,165.00, respectively.Determine the following:variable cost =fixed cost =average fixed cost per unit for the first1,000 units =

Cost refers to the all types of expense that incurs in a process of production. It can variable or…

The total cost of manufacturing 1,000 pieces and 2,050 pieces of a certain plastics product are P21,100 and $37,165.00, respectively. Determine the following: variable cost = fixed cost = average fixed cost per unit for the first 1,000 units =

The total cost of manufacturing 1,000 pieces and 2,050 pieces of a certain plastics product are P21,100 and $37,165.00, respectively. Determine the following: variable cost = fixed cost = average fixed cost per unit for the first 1,000 units =

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Concept explainers

Inflation and Purchasing Power Theory

In economic terms, Inflation refers to the increase in the costs of various commodities which are used in daily lifestyle like food, clothes, transport, etc. over a specific time. It may lead to a fall in the purchasing power of the people and also affects the exchange rate of the currency because of the price increase. As the purchasing power falls the unit of the currency in the economy falls. When the prices of the commodities are decreased, then the purchasing power of the consumers will rise, then it will lead to deflation and changes the currency of the base economy to that of the foreign economy which will lead to change in exchange rates.

Question

The total cost of manufacturing 1,000 pieces
and 2,050 pieces of a certain plastics product
are 21,100 and 37,165.00, respectively.
Determine the following:
variable cost =
fixed cost =
average fixed cost per unit for the first
1,000 units =

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