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 11 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

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Total body water (TBW) Total body water (TBW)
A track inside an ignition coil is not a short, but rather it is a low-resistance path or hole that ... A track inside an ignition coil is not a short, but rather it is a low-resistance path or hole that ...
How to find the tangential and normal components of a vector How to find the tangential and normal components of a vector
Firm handshake Firm handshake
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Video: Properties of macromolecules (Explained with No Audio)

For a complete list of videos, visit our video library