User:Smitashukla/smitaa shukla 3

Marginal Cost is + Change in the total cost when one more unit of the good is produced - It is sum total of change in fixed cost and average cost - It is obtained by dividing the total cost with the number of units produced
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{Social cost is - Cost incurred on all individuals in society + External Cost (Cost of loss or disutility to society on account of action/activities of a firm) plus the Private Cost of the Firm - Accounting Cost plus Implicit Cost
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{Opportunity cost is + The income or return involved in the next best alternative - The actual paid out cost of a firm - The Private Cost of a Firm
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{Fixed Cost is - The Private Cost or paid out cost of a firm for a given level of output - The Opportunity Cost of the firm + The cost which a firm has to incur even if a firm is not operating
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{A Company has two Investment Options in hand. One Investment option can generate income of 1, 00, 000 and other option can genertae income of 90, 000. Company selects the option that yields return of 1, 00, 000. For the company, Opportunity Cost is - 1, 00, 000 + 90, 000 - 10, 000
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{A firm is currently earning profit of Rs. 10, 00, 000 from its business operations. It the company would have invested money in the next best alternative investment option then it could have earned profit of Rs. 9, 50, 000. The Economic Profit of the firm is + 50, 000 - Zero - 9, 50, 000
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