ECON 2030 Charles Roussel Exam 2
Comprehensive Questions
(Frequently Tested) and Complete
Solutions Graded A+
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Normal Profits - Answer: economic profit=0
Means that what you're doing is just as good as the best alternative.
When current act profit=best alternative
No incentive to change
, Total Cost (TC) - Answer: FC+VC
Fixed Costs (FC) - Answer: Costs that do not change, independent of
quantity (rent)
Variable Costs (VC) - Answer: Costs that vary, depend on how much we
do
Marginal Costs (MC) - Answer: change in total cost/change in quantity
Profit-Maximizing rule - Answer: Producing Q* where MR=MC
The FC doesn't affect how much to produce to maximize profits
Average total Costs (ATC) - Answer: TC/Q
Average Fixed Costs (AFC) - Answer: FC/Q
Average variable costs (AVC) - Answer: VC/Q
Comprehensive Questions
(Frequently Tested) and Complete
Solutions Graded A+
Professional Academic Assistance Services
Services Offered
• Proctored Exam Assistance
• Online Class Management (Full Course Support)
• Exam Preparation & Study Materials
• Assignments and Coursework Support
• Essay and Research Paper Writing
• Discussion Posts & Responses
• Editing and Proofreading
• Confidential Academic Consultation
Contact Information
Email:
WhatsApp link: https://wa.me/254704846336
Fast Response | Confidential | Reliable Academic Support
Helping Students Achieve Academic Excellence
Normal Profits - Answer: economic profit=0
Means that what you're doing is just as good as the best alternative.
When current act profit=best alternative
No incentive to change
, Total Cost (TC) - Answer: FC+VC
Fixed Costs (FC) - Answer: Costs that do not change, independent of
quantity (rent)
Variable Costs (VC) - Answer: Costs that vary, depend on how much we
do
Marginal Costs (MC) - Answer: change in total cost/change in quantity
Profit-Maximizing rule - Answer: Producing Q* where MR=MC
The FC doesn't affect how much to produce to maximize profits
Average total Costs (ATC) - Answer: TC/Q
Average Fixed Costs (AFC) - Answer: FC/Q
Average variable costs (AVC) - Answer: VC/Q
