What are differences between differential and explicit cost
What are the differences between differential cost and explicit cost?
Expert
Differential Cost:
This refers to the change in cost because of change in the level of activity or method of production or pattern of production.
Explicit Cost:
These costs are those costs that are really paid (or paid in cash.). all they are paid out costs.
When total variable cost exceeds total revenue whatever output levels but a perfectly competitive firm: w) must produce in the short run. x) is making short-run profits. y) must shut down in the short run. z) has shel
Illustrates the terms total cost, average cost and also marginal cost?
Illustrates the term shot run production function?
What are the reasons for adopting penetration price strategy?
Competitive equilibria in competitive labor markets need: (w) P = MR = AVC. (x) VMP - P is maximized. (y) VMP = MRP = MFC = w. (z) output is at a break-even level. (q) MPP = P. Can anybody suggest me the proper exp
A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
Define the some criticized highlight points of Adam Smith?
Explain about the term Recovery in phases of business cycle.
Explain the forecasting demand for a new product.
Illustrates the Law of Returns to scale?
18,76,764
1941804 Asked
3,689
Active Tutors
1445436
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!