This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What are the two components of a firm's total cost in the short run, and what are their definitions? ... (Read 41 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
What are the two components of a firm's total cost in the short run, and what are their definitions?
 
  What will be an ideal response?

Question 2

If the natural monopoly shown in the figure above is unregulated, then the deadweight loss will be
 
  A) 0.
  B) 2 million.
  C) 4 million.
  D) 8 million.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ciecieme

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

The two parts are the total fixed cost (TFC) and the total variable cost (TVC). TFC is the cost that does not vary as output varies. Examples include rent on a building or interest on a business loan. TVC is the cost that varies as output varies. Examples include a firm's payroll for labor or payments for raw materials.

Answer to Question 2

C


Ebrown

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
Excellent

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Structural comparison of the genome components of eukaryotes, prokaryotes, and viruses Structural comparison of the genome components of eukaryotes, prokaryotes, and viruses
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Data management short answer q Data management short answer q
The components of the wild-type lac operon The components of the wild-type lac operon
A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library