As Northern Ireland's capital city, Belfast is host to the Northern Ireland Assembly at Stormont, the site of the devolved legislature for Northern Ireland. Belfast is divided into four Northern Ireland Assembly and UK parliamentary constituencies: North Belfast, West Belfast, South Belfast and East Belfast.
Fixed Costs, Variable Costs, and Total Costs z Fixed costs are those that are spent and cannot be changed in the period of time under consideration. z In the long run there are no fixed costs since all costs are variable. z In the short run, a number of costs will be fixed. Fixed Costs, Variable Costs, and Total Costs z Workers represent variable costs â those that change as output changes. Fixed Costs, Variable Costs, and Total Costs z The sum of the variable and fixed costs are total costs. TC = FC + VC Average Costs z Much of the firmâs discussion is of average cost.
Tips. 1  Long-run marginal costs differ from short-run in that no costs are fixed in the long run. 2  The general formula for calculating short-run marginal cost is: MC= d(TC)/d(Q) where TC is total cost, Q is quantity, and d signifies the change in these values.tep 3. Calculate the change in total cost when producing a given quantity of additional units. Total cost is equal to fixed costs plus variable costs. The change in total cost will be the new total cost after producing any additional units, minus the total cost before producing the units.