b. Graph AVC, ATC and MC on the same graph. What is the relationship between the MC curve and the ATC and between MC and AVC? c. Suppose the market price is RO 60, how much will the firm products in the short run? How much are the total profits?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
![4. A firm's cost curves are given in the following table.
TC
TFC
TVC
AVC
ATC
MC
Revenue
Profit
RO100
RO100
-100
1
140
100
40
40
140
40
60
-80
160
100
60
30
80
20
120
-40
3
170
100
70
23.33
56.66
10
180
10
4
182
100
82
20.5
45.5
12
240
58
5
195
100
95
19
39
13
300
105
6
220
100
120
20
36.66
25
360
140
7
250
100
150
21.42
35.71
30
420
170
8
290
100
190
23.75
36.25
40
480
190
340
240
26.6
50
54
200
10
400
100
300
30
40
60
600
200
a. Complete the table.
b. Graph AVC, ATC and MC on the same graph. What is the relationship between
the MC curve and the ATC and between MC and AVC?
c. Suppose the market price is RO 60, how much will the firm products in the short
run? How much are the total profits?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3a0c5eaa-d3ed-42fc-a2c2-f7bbe347d057%2Fed856ff1-8d6a-4416-828c-cf8cbf4d72f5%2F99ewyiv_processed.jpeg&w=3840&q=75)
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