Bissoy.com
Doctors Medicines MCQs Q&A

Which of the following is known as unit cost?

Which of the following is known as unit cost? Correct Answer Total expenditure by the institution divided by total number of students

Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies

Important Points

  • The unit cost per student is the average cost per student is calculated from the total expenditure divided by all students in higher education within a certain time.
  • By knowing the size of the unit cost per student is useful to assess various policy alternatives in an effort to improve the education quality.
  • Unit cost is cost per educational unit, e.g. cost per student, cost per school, cost per teacher, etc. But in education as multiple outputs measured variously in terms of student achievement of graduates passed, and so on.
  • Hence, while  estimating unit cost, due care should be take11 to avoid ambiguity. For  example, cost per student  imply: 
  • a) cost per student enrolled: 
  • b) cost per student actually attending school; or 
  • c) cost per student successfully completing a given course.

Thus the unit cost is Total expenditure by the institution divided by total number of students

Related Questions

"It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point?
Selling price - Rs 6 per unit
Variable production cost - Rs 1.20 per unit
Variable selling cost - Rs 0.40 per unit
Fixed production cost - Rs 4 per unit
Fixed selling cost - Rs 0.80 per unit
Budgeted production and sales for the year are 10,000 units."
Seven chocolates, A, B, C, D, E, F and G, are bought at different costs between Rs. 40 and Rs. 50 (excluding both Rs. 40 and Rs. 50) but not necessarily in the same order. The cost of chocolate C is Rs. 5 less than that of chocolate E. The cost of chocolate A is a prime number. The cost of chocolate F is Rs. 2 more than that of chocolate A. The cost of chocolate F is more than that of chocolate E. The cost of chocolate D is an odd number. The cost of chocolate G is Rs. 3 more than the cost of chocolate D. None of the chocolates cost Rs. 44. The cost of chocolate B is an even number. What is the cost of chocolate E?
"What is the company's breakeven point:
Selling price - Rs 6 per unit
Variable production cost - Rs 1.20 per unit
Variable selling cost - Rs 0.40 per unit
Fixed production cost - Rs 4 per unit
Fixed selling cost - Rs 0.80 per unit
Budgeted production and sales for the year are 10,000 units."
"How many units must be sold if company wants to achieve a profit of Rs 11,000 for the year?
Selling price - Rs 6 per unit
Variable production cost - Rs 1.20 per unit
Variable selling cost - Rs 0.40 per unit
Fixed production cost - Rs 4 per unit
Fixed selling cost - Rs 0.80 per unit
Budgeted production and sales for the year are 10,000 units."
To produce a component, any of the four processes can be adopted. Process A: Fixed cost = Rs. 20, Variable cost/piece = Rs. 4 Process B: Fixed cost = Rs. 50, Variable cost/piece = Rs. 3 Process C: Fixed cost = Rs. 60, Variable cost/piece = Rs. 2 Process D: Fixed cost = Rs. 70, Variable cost/piece = Rs. 1 Which of the following process is the most economical to produce 100 pieces in a batch?
Seven chocolates A, B, C, D, E, F and G are bought at different costs between Rs. 40 and Rs. 50 (excluding 40 and 50) but not necessarily in the same order. The cost of chocolate C is five less than that of chocolate E. The cost of the chocolate A is a prime number. The cost of chocolate F is two more than that of chocolate A. The cost of chocolate F is more than that of chocolate E. The cost of chocolate D is an odd number. The cost of chocolate G is three more than the cost of chocolate D. None of the chocolates costs Rs. 44. The cost of chocolate B is an even number. Which is the following chocolates is costlier than E?
An eraser cost Rs. 3. The cost of 20 erasers is equal to the cost of three pens. The cost of one pen is equal to the cost of two pencils and the cost of six pencils is equal to the cost of five markers. What is the cost of one marker?
The cost of packaging of the mangoes is 40% the cost of fresh mangoes themselves. The cost of mangoes increased by 30% but the cost of packaging decreased by 50%, then the percentage change of the cost of packed mangoes, if the cost of packed mangoes is equal to the sum of the cost of fresh mangoes and cost of packaging :
According to six-tenths-factor rule, if the cost of a given unit at one capacity is known, then the cost of similar unit with '' times the capacity of the first unit is approximately equal to __________ times the cost of the initial unit.
According to six-tenths-factor rule, if the cost of a given unit at one capacity is known, then the cost of similar unit with times the capacity of the first unit is approximately equal to __________ times the cost of the initial unit.