Examine the costs of production for First Solar.
a) Analyze the various costs a firm faces, their trends over time, and how they have impacted First Solar's profitability.
b) Apply the concepts of variable and fixed costs to First Solar for informing its output decisions. For instance, analyze how different kinds of costs (labor, research and development, raw materials) affect the firm’s level of output.
A.
There are various costs a firm faces over a period of time. Both variable and fixed costs occurred during the production process. The profitability of the firm is purely based on the cost aspects. The cost of raw materials, production cost, wages and salaries of employees, marketing expenses and taxes are the various aspects of variable and fixed cost. The profit of the firm increases as cost decreases. Thus First solar aimed to reduce cost in order to increase profit.
B.
The different kinds of costs (labor, research and development, raw materials) affect the firm’s level of output. The output decision of First Solar based on varying cost conditions. The firm always tries to reduce costs. First Solar is well positioned to capitalise on world wide solar energy growth. The output decision also requires management abilities and technological improvement which can reduce cost and increase profitability.
Examine the costs of production for First Solar. a) Analyze the various costs a firm faces,...
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