Comments on: Introductory Microeconomics Cost Formulas

By: carolina

carolina — Sun, 15 Jan 2012 02:20:00 +0000

find adverage variable cost and average cost of total cost curve

By: Carolina

Carolina — Sun, 15 Jan 2012 02:18:00 +0000

TC=10 + 2Q

By: Hunain.H.Bilgrami

Hunain.H.Bilgrami — Fri, 13 Jan 2012 07:02:00 +0000

Thanks for this formulas

By: John

John — Fri, 13 Jan 2012 04:52:00 +0000

thanks for the formula

By: creelman hassan

creelman hassan — Thu, 05 Jan 2012 12:48:00 +0000

i have learnt alot from your formulars
thanks very much
ma exam is 2moro

By: Kingsleyotchere

Kingsleyotchere — Thu, 05 Jan 2012 03:30:00 +0000

brandi,since total revenue is price by quantity.u can manipulate that to arrive at your price.

By: Mal

Mal — Sat, 21 May 2011 03:59:54 +0000

Thank you so much ! This helped me a lot in my economics worksheet ! Tomorrow is my exam ! I would say this is much, much better than my economics sir !

By: Brandi

Brandi — Thu, 03 Mar 2011 23:07:08 +0000

Hello, does anyone know how to calculate Price??? is there a formula to use??

By: KoiL

KoiL — Sun, 13 Feb 2011 13:46:45 +0000

I've stumbled over your site and see many have praised your usefulness. At the risk of appearing a simpleton on the subject I ask anyone here who has a soul that seeks other more equitable outcomes other than the formula for "an optimal level of output for profit maximization". Why is there not a formula that would equitably hand a producer a profit with a guarantee to the consumer that the price payed was not exorbitant. All things being equal. I believe that a locally produced tomato should be the same price whether it was sold 2 miles up the road from the field it was grown in, or whether it was sold in another country, other than it's true transport costs, and exchange rates. (another area where a Trade Dollar market could exist) I can hear the sheiks of horror from here already, but get this if you can. The simple laws of supply and demand are so easily manipulated in this day and age, and severed well in the day's before container ships and aircraft. In the 21st century with close to 7 billion people alive (which BTW is more than all the people who have ever lived!) it now gives us permanent demand and almost uninterrupted supply. Therefore if demand is a given, and the supply side only a matter of transport costs. Should there not be only one formula added only when the supplier nominates his point of sale. This idea is just to produce and supply at the local level, and force the middle man to wear the costs of distance. Which by a law they could not pass on. An alternative for them would be a contact. Clearing opportunistic behavior. I simply ask why should the market continue to pay $10kg for tomato's up $4kg from 1 bad season just because the bean counters were surprised to witness what the market would bare, and fix it into future pricing. You can't eat money people.

By: annette

annette — Sun, 31 Oct 2010 05:21:01 +0000

please help variable input of labor. 50 workers are used average product of laboris 50. Marginal product of the 50 worker is 75. wage rate is $80 and the total cost of the fixed input is $500.

What is th average variable cost
What is the marginal cost
What is the average total cost