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a)Variable cost

b) Market equilibrium
c) Oligopoly
d) Total cost
e) Implicit cost
f) Efficiency
Section B
Answer any 4 of the following:
1. a)Given P=20+3Q
Find P and Q at equilibrium.
b) Explain fixed costs and productivity.

5. An automobile manufacturing company produces 80 cars per month and it incurs

the following costs:

It pays a salary of Tk. 60,000 to manager

Capital equipment cost is Tk. 20,000
Wages per labour is Tk 50. There are 10 workers this month and each works 7
hours per day, working 20 days a month.
Insurance charge is Tk. 15,000
Advertisement cost is Tk. 20000
Electricity and phone bill this month is Tk. 12000
An extra transportation cost of Tk. 5000 has occurred.
a) Calculate fixed cost, variable cost and total cost.
b) If the revenue per car is Tk. 6000, then calculate total revenue and profit.