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What is the term for a company's authorized capital offered to the public for subscription? What is a market structure with one buyer and many sellers called? Calculate ATC, AVC, and AFC from the prov

Economics

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4 parts
1

C. issued capital\text{C. issued capital}

2

B. monopsony\text{B. monopsony}

3

D. 150 FCFA\text{D. 150 FCFA}

4

B. raw material\text{B. raw material}

Step-by-step solution

3 steps

Part 1

Part of a company's authorized capital that is offered to the public for subscription is known as issued capital.
C. issued capital\boxed{\text{C. issued capital}}

Part 2

B. monopsony\text{B. monopsony}

A market structure in which there is only one buyer and many sellers is called a monopsony.
B. monopsony\boxed{\text{B. monopsony}}

Part 3

D. 150 FCFA\text{D. 150 FCFA}

  1. Identify the Total Costs (TC) and Total Variable Costs (TVC) at an output of 20 kg from Figure 1.

    From the graph, at an output of 20 kg20 \text{ kg}:

    TC=6000 FCFA\text{TC} = 6000 \text{ FCFA} TVC=3000 FCFA\text{TVC} = 3000 \text{ FCFA}

  2. Calculate the Average Total Cost (ATC).

    ATC=TCOutput=6000 FCFA20 kg=300 FCFA/kg\text{ATC} = \frac{\text{TC}}{\text{Output}} = \frac{6000 \text{ FCFA}}{20 \text{ kg}} = 300 \text{ FCFA/kg}

    The calculated Average Total Cost of 300 FCFA/kg300 \text{ FCFA/kg} is not among the given options.

  3. Calculate the Average Variable Cost (AVC) and Average Fixed Cost (AFC).

    AVC=TVCOutput=3000 FCFA20 kg=150 FCFA/kg\text{AVC} = \frac{\text{TVC}}{\text{Output}} = \frac{3000 \text{ FCFA}}{20 \text{ kg}} = 150 \text{ FCFA/kg}

    First, calculate Fixed Costs (FC):

    FC=TC−TVC=6000 FCFA−3000 FCFA=3000 FCFA\text{FC} = \text{TC} - \text{TVC} = 6000 \text{ FCFA} - 3000 \text{ FCFA} = 3000 \text{ FCFA}

    Then, calculate Average Fixed Cost (AFC):

    AFC=FCOutput=3000 FCFA20 kg=150 FCFA/kg\text{AFC} = \frac{\text{FC}}{\text{Output}} = \frac{3000 \text{ FCFA}}{20 \text{ kg}} = 150 \text{ FCFA/kg}

    Option D, 150 FCFA150 \text{ FCFA}, matches both the Average Variable Cost and the Average Fixed Cost. Given that the calculated Average Total Cost is not an option, it is likely that the question intended to ask for Average Variable Cost or Average Fixed Cost.
    D. 150 FCFA\boxed{\text{D. 150 FCFA}}

Part 4

B. raw material\text{B. raw material}

The best location factor for an industry producing bulky and heavy products is proximity to the source of raw material, as this minimizes transportation costs for heavy inputs.
B. raw material\boxed{\text{B. raw material}}

Part 5

The problem of the barter system which is solved by the standard of deferred payment is the difficulty of making future payments, as money provides a common measure of value

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