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The production department of a firm reported the following information for the month of May 2005.

Wage Bill 20,000
Value of raw materials 60,000
Interest 6,000
Fuel Consumption 10,000
Rent 4,000
Units of output produced 2,000

find out

(i) Average cost
(ii) Average variable cost
(iii) What would be the total profit of the firm if it sells the entire output at a price of Rs. 60 per unit ?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946856

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