Firms’ Costs, Revenue And Objectives
Gbogbo ọrọ náà
Behind every price tag is a calculation. A firm has to cover its costs, earn revenue from its sales, and decide what it is really trying to achieve, whether that is survival, growth, social welfare or the largest possible profit. Get the arithmetic of costs and revenue right and you can explain almost any decision a business makes.
In this lesson you will define and calculate every cost a firm faces, fixed, variable, total and their averages, work out total and average revenue, see how output and sales change them, and weigh up the different objectives a firm might pursue. These are the building blocks of how firms behave.
Ebumnobi
- total cost (TC), average total cost (ATC), fixed cost (FC), average fixed cost (AFC), variable cost (VC), average variable cost (AVC)
- calculation of TC, ATC, FC, AFC, VC and AVC
- drawing and interpretation of diagrams that show how changes in output affect costs of production
- definitions of total revenue (TR) and average revenue (AR)
- calculation of TR and AR
- the influence of sales on revenue
- survival, social welfare, profit maximisation and growth
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Firms’ Costs, Revenue And Objectives. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- Which of the following is a fixed cost? A. raw materials B. monthly factory rent C. wages of production workers D. delivery fuel Answer: B
- A firm has total cost $12,000 at an output of 600 units. Its average total cost is: A. $12 B. $20 C. $200 D. $7,200,000 Answer: B
- Total revenue is calculated as: A. price minus cost B. price multiplied by quantity sold C. total cost divided by output D. quantity divided by price Answer: B
- If a firm sells 800 units for total revenue of $4000, its average revenue is: A. $0.20 B. $5 C. $50 D. $3200 Answer: B
- As a firm increases output, its average fixed cost will: A. rise B. fall C. stay the same D. become negative Answer: B
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Firms’ Costs, Revenue And Objectives? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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