Economies of scale Multiple Choice Exist in both the short run and the long run. Explain why average variable and average total costs decline in the short run. Explain why average total costs decline as output increases in the long run. Explain why average total costs increase as output increases in the long run.

Miller mfg. is analyzing a proposed project. the company expects to sell 14,300 units, plus or minus 3 percent. the expected variable cost per unit is $15 and the expected fixed cost is $35,000. the fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. the depreciation expense is $32,000. the tax rate is 34 percent. the sale price is estimated at $19 a unit, give or take 3 percent. what is the net income under the worst case scenario?

Describe what fixed costs and marginal costs mean to a company.

Both renewable and nonrenewable resources are used within our society. how do the uses of nonrenewable resources compare to the uses of renewable resources?