58 942
Assignments Done
Successfully Done
In March 2018
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Microeconomics Question for Elena

Question #2409
How can I find Total Cost if I know Price, Quantity Demanded and Toal Revenue?

For example I have P=3 Q=1600 TR 4800 TC=5600(how did hey find TC)
Expert's answer
You can not find Total Costs knowing only Price, Quantity and Total Revenue.


Total cost = cost per unit x units produced
Total cost = cost per unit x units sold
Fixed costs + Variable costs

Total Revenue = Price*Quantity

Profit = Total Revenue - Total Costs => Total Costs = Total Revenue - Profit

from given example (P=3 Q=1600 TR 4800) to get TC = 5600 Profit has to be -800, so we have losses, but we have not any information about it in task conditions

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question