Average Total Cost

Some articles on average total cost, total cost, costs, cost, average:

Microeconomics - Modes of Operation
... is said to be making an economic profit when its average total cost is less than the price of each additional product at the profit-maximizing output ... The economic profit is equal to the quantity output multiplied by the difference between the average total cost and the price ... This occurs where average total cost equals price at the profit-maximizing output ...
Cost Curve - Relationship Between Different Curves
... Total Cost = Fixed Costs (FC) + Variable Costs (VC) Marginal Cost (MC) = dC/dQ MC equals the slope of the total cost function and of the variable cost ... the shape of the ATC and AVC curves At a level of Q at which the MC curve is above the average total cost or average variable cost curve, the latter curve is rising ... If MC is below average total cost or average variable cost, then the latter curve is falling ...

Famous quotes containing the words cost, average and/or total:

    The true reformer does not want time, nor money, nor coöperation, nor advice. What is time but the stuff delay is made of? And depend upon it, our virtue will not live on the interest of our money. He expects no income, but outgoes; so soon as we begin to count the cost, the cost begins. And as for advice, the information floating in the atmosphere of society is as evanescent and unserviceable to him as gossamer for clubs of Hercules.
    Henry David Thoreau (1817–1862)

    Three million of such stones would be needed before the work was done. Three million stones of an average weight of 5,000 pounds, every stone cut precisely to fit into its destined place in the great pyramid. From the quarries they pulled the stones across the desert to the banks of the Nile. Never in the history of the world had so great a task been performed. Their faith gave them strength, and their joy gave them song.
    William Faulkner (1897–1962)

    For youth is a frail thing, not unafraid.
    Firstly inclined to take what it is told.
    Firstly inclined to lean. Greedy to give
    Faith tidy and total. To a total God.
    Gwendolyn Brooks (b. 1917)