Which of these is a FIXED cost for a factory?

The monthly rent on the building

How is total cost calculated?

Fixed cost plus total variable cost

Total cost divided by the number of units produced

Falls in average cost as a firm grows larger and produces more

A purchasing (bulk-buying) economy

Because managing a very large organisation makes communication and coordination harder, raising cost per unit

Economies of scale lower average cost at first, then diseconomies of scale raise it as the firm grows too large

Growth, survival, market share or social and environmental aims

Because some markets are small, local or need personal service, and small firms are flexible and fill niches

14questions. Pick an answer and you'll see why right away.

Which of these is a FIXED cost for a factory?
How is total cost calculated?
How is profit calculated?
A firm has fixed costs of $\$ 1,000 $and variable costs of$ \ $5$ per unit. It makes 400 units. What is its total cost?
Average total cost is best defined as:
What are economies of scale?
A large supermarket gets a bulk discount for buying stock in huge quantities. This is an example of:
Why might a very large firm experience DISECONOMIES of scale?
The long-run average cost curve is typically U-shaped because:
Economists usually assume the main goal of a firm is to:
Apart from profit, which is a realistic goal a firm might pursue?
Why do small firms survive even when large firms enjoy economies of scale?
If a firm's total revenue is $\$ 10,000 $and its total cost is$ \ $12\,000$ , the firm is:
Spreading a fixed advertising budget over a much larger volume of sales lowers cost per unit. This is: