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27 Demonstrate that the marginal production cost is equal to the...
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to...
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to average total cost b. average variable cost plus average fixed cost is declining with increases in output c. marginal cost is equal to average variable cost d. average total cost is equal to average variable cost e. average variable cost is declining with increases in output
please as soon as possible 2. How does marginal productivity translate to marginal cost and represent...
please as soon as possible
2. How does marginal productivity translate to marginal cost and represent the firm's supply curve? Explain why the marginal cost curve intersects the average cost curve at the minimum point of the u-shaped average cost curve.
When marginal cost of production rises above the average total cost of production, we know that:...
When marginal cost of production rises above the average total cost of production, we know that: A. the firm has economies of scale B. average total cost is decreasing C. marginal cost is negative D. average total cost is increasing Average total cost curves are usually depicted as downward sloping at low levels of output because: A. Average fixed costs are declining B. Opportunity costs decline as output (Q) increases C. Average fixed...
Please classify and explain what each stage of production you are in for each of the...
Please classify and explain what each stage of production you are in for each of the given scenarios: (5 points) 2. a. Average physical product is 45 and the marginal physical product is -60, b. Average physical product is 27 and the marginal physical product is 47, c. Average physical product is 46 and the marginal physical product is 26. Please explain the relationship between average physical product (APP) and marginal physical product (MPP) (5 points) 3. 4. If your...
At 15 units of output, a firm's marginal cost and average total cost each equal $75....
At 15 units of output, a firm's marginal cost and average total cost each equal $75. Therefore, assuming 'typically' shaped cost curves, at 16 units of output: Its marginal cost is greater than $75 and its average total cost is less than $75. O Its marginal cost is less than $75 and its average total cost is greater than $75. O Its marginal cost and average total cost are each less than $75. 0 Its marginal cost and average total...
Use graphics to show that, as long as the prices for factors of production remain unchanged,...
Use graphics to show that, as long as the prices for factors of production remain unchanged, the average cost always drops no less than 50% when production function changes from F1(K, L)= min{αK,βL} to F2(K, L)=αK +βL for any positive coefficients α and β.
Suppose a monopolist faces the following demand curve: P=250-Q Marginal cost of production is constant and equal to $10,...
Suppose a monopolist faces the following demand curve: P=250-Q Marginal cost of production is constant and equal to $10, there are no fixed costs What is the monopolist's profit-maximizing level of output?
a. A monopolist finds that at its current level of output the marginal cost of production...
a. A monopolist finds that at its current level of output the marginal cost of production is $9, the average total cost is $9.95,the average variable cost is $9.75 and its marginal revenue is $9.45. What would you recommend that the monopolist do to increase profits? One word answer is not enough. Explain. b. A monopolist determines that at the current level of output the marginal revenue is $9.00 and its marginal cost is $10. What should the monopolist do to...
1a. Marginal cost is equal to the change in: A. variable cost divided by the change...
1a. Marginal cost is equal to the change in:
A. variable cost divided by the change in total output.
B. average total cost divided by the change in total output.
C. fixed cost divided by the change in total output.
D. average variable cost divided by the change in total
output.
(Figure: Determining Industry Cost Characteristics) Short-run
and long-run supply curves with short-run market equilibrium at
points A and B are shown in the graph. We can
conclude that the...
Suppose the firm's total cost and marginal cost functions are given by TC = 54 +...
Suppose the firm's total cost and marginal cost functions are given by TC = 54 + Q + 2Q3 and MC = 1 + 4Q2, respectively. What is the output level that minimizes average total cost? 2 3 6 8
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to average total cost b. average variable cost plus average fixed cost is declining with increases in output c. marginal cost is equal to average variable cost d. average total cost is equal to average variable cost e. average variable cost is declining with increases in output
please as soon as possible
2. How does marginal productivity translate to marginal cost and represent the firm's supply curve? Explain why the marginal cost curve intersects the average cost curve at the minimum point of the u-shaped average cost curve.
Please classify and explain what each stage of production you are in for each of the given scenarios: (5 points) 2. a. Average physical product is 45 and the marginal physical product is -60, b. Average physical product is 27 and the marginal physical product is 47, c. Average physical product is 46 and the marginal physical product is 26. Please explain the relationship between average physical product (APP) and marginal physical product (MPP) (5 points) 3. 4. If your...
At 15 units of output, a firm's marginal cost and average total cost each equal $75. Therefore, assuming 'typically' shaped cost curves, at 16 units of output: Its marginal cost is greater than $75 and its average total cost is less than $75. O Its marginal cost is less than $75 and its average total cost is greater than $75. O Its marginal cost and average total cost are each less than $75. 0 Its marginal cost and average total...
1a. Marginal cost is equal to the change in:
A. variable cost divided by the change in total output.
B. average total cost divided by the change in total output.
C. fixed cost divided by the change in total output.
D. average variable cost divided by the change in total
output.
(Figure: Determining Industry Cost Characteristics) Short-run
and long-run supply curves with short-run market equilibrium at
points A and B are shown in the graph. We can
conclude that the...
Suppose the firm's total cost and marginal cost functions are given by TC = 54 + Q + 2Q3 and MC = 1 + 4Q2, respectively. What is the output level that minimizes average total cost? 2 3 6 8
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