Average Cost – NBC Institute

QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

Question

MANDILAS Ventures has established its total cost function to be:

Determine the level of output that will give minimum average cost. (8 Marks)

Answer

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Tags: Average Cost, Cost Analysis, Output Level, Total Cost Function
Level: Level 1

Topic: Operations Research
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

Question

If an asset can be replaced at the same cost and there is no time value of money, then the problem of obtaining the optimal replacement interval involves the following EXCEPT:

A. Finding the cumulative operating/maintenance cost
B. Finding the total depreciation
C. Adding (A) and (B) above to get total cost
D. Finding the year at which marginal cost is minimized
E. Finding the year at which average cost is minimum

Answer

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Tags: Average Cost, Cost Analysis, Marginal Cost, Replacement Theory
Level: Level 1

Topic: Operations Research
Series: NOV 2015

QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

Question

The total cost function for SUNNY Enterprises is $c(x)=x^3−13x^2+40^x$ , where $x$ is the number of units produced (in hundreds). At what production level does the average production cost equal to zero?

A. 0, 500, 800
B. 500, 800
C. 0, 400, 900
D. 400
E. 400, 900

Answer

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Tags: Average Cost, Cost Function, Production Level
Level: Level 1

Topic: Mathematics
Series: MAY 2015

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

Question

a) If the total cost (in Ghana cedis) of producing $x$ items is given by the function

Required:
i) Calculate the total cost, average cost, and marginal cost of producing 5000 items. (6 marks)
ii) Determine the production level at which the average cost will be the lowest. (4 marks)

Answer

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Tags: Average Cost, Cost Functions, Marginal Cost, Optimization
Level: Level 1

Topic: Mathematics of Business Finance
Series: MAY 2016

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

Question

Distinguish between marginal cost and average cost in production.

Answer

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Tags: Average Cost, Marginal Cost, Production Costs
Level: Level 1

Topic: Elements of Calculus

QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

Question

MANDILAS Ventures has established its total cost function to be:

Determine the level of output that will give minimum average cost. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Average Cost, Cost Analysis, Output Level, Total Cost Function
Level: Level 1

Topic: Operations Research
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

Question

If an asset can be replaced at the same cost and there is no time value of money, then the problem of obtaining the optimal replacement interval involves the following EXCEPT:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Average Cost, Cost Analysis, Marginal Cost, Replacement Theory
Level: Level 1

Topic: Operations Research
Series: NOV 2015

QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

Question

A. 0, 500, 800
B. 500, 800
C. 0, 400, 900
D. 400
E. 400, 900

Answer

Find Related Questions by Tags, levels, etc.

Tags: Average Cost, Cost Function, Production Level
Level: Level 1

Topic: Mathematics
Series: MAY 2015

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

Question

a) If the total cost (in Ghana cedis) of producing $x$ items is given by the function

Answer

Find Related Questions by Tags, levels, etc.

Tags: Average Cost, Cost Functions, Marginal Cost, Optimization
Level: Level 1

Topic: Mathematics of Business Finance
Series: MAY 2016

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

Question

Distinguish between marginal cost and average cost in production.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Average Cost, Marginal Cost, Production Costs
Level: Level 1

Topic: Elements of Calculus

Question Tag: Average Cost

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QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

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Question Tag: Average Cost

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QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

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QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

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QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q3 – Mathematics"

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

You're reporting an error for "QT – May 2016 – L1 – Q5a – Mathematics of Business Finance"

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

You're reporting an error for "QT – Nov 2017 – L1 – Q6a – Elements of Calculus"

QTB – Nov 2015 – L1 – SB – Q2b – Operations Research

Determine the level of output that minimizes the average cost for a given total cost function.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q2b – Operations Research"

QTB – Nov 2015 – L1 – SA – Q7 – Operations Research

This question identifies which factor does not affect the optimal replacement interval for an asset.

You're reporting an error for "QTB – Nov 2015 – L1 – SA – Q7 – Operations Research"

QTB – May 2015 – L1 – SA – Q3 – Mathematics

Determining the production level at which average production cost is zero.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q3 – Mathematics"

QT – May 2016 – L1 – Q5a – Mathematics of Business Finance

Calculate the total cost, average cost, and marginal cost of producing 5000 items, and determine the production level for the lowest average cost.

You're reporting an error for "QT – May 2016 – L1 – Q5a – Mathematics of Business Finance"

QT – Nov 2017 – L1 – Q6a – Elements of Calculus

Distinguish between marginal cost and average cost in production.

You're reporting an error for "QT – Nov 2017 – L1 – Q6a – Elements of Calculus"

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