Question

In the figure, if this fim produces output level Q2.it has average total costs of Cost (dollars) MC OA OE ATC OB, 00. O c. Oc. O D. OF AVC AFC Q, Q2Quantity of Output
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer is option b)

At Q2, MC cuts ATC at c, thus corresponding to the y axis , we have point D, so ATC is distance of point D from origin , hence ATC is OD

Add a comment
Know the answer?
Add Answer to:
In the figure, if this fim produces output level Q2.it has average total costs of Cost...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1...

    Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1 Figure 1 1. In Figure 1, at output 0B, line segment HK equals A. average fixed cost. B. fixed cost. C. average total cost. D. marginal cost. E. total cost. NC 2. According to Figure 1, the marginal cost curve cuts the average total cost curve at output 3. Average total cost is minimized in Figure 1when output equals 4. Marginal cost is minimized...

  • Figure 8.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At...

    Figure 8.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q=50, the total variable cost is: MC ATC /AVC O A. $1,200 O B. $1,500 O C. $2,100 OD. $2,800 - 100 Figure 8.3

  • Consider the following table of costs:             Output &...

    Consider the following table of costs:             Output             Total Variable Costs                 Total Costs             0                                  $0                                $30             1                                  20                                50             2                                  30                                60             3                                  48                                78             4                                  90                                120             5                                  170                              200 a) Plot the total fixed cost (TFC) curve, the total variable cost (TVC) curve, and the total cost (TC) curve on the same graph. b) Briefly explain the reason for the shape of the cost curves in part (a). c) Add to the...

  • Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average...

    Finish the table. MPL: Marginal production of labor TC: Total cost MC: Marginal Cost AFC: Average fixed cost AVC: Average variable cost ATC: Average total cost lormal text - Times New... - 12 B I VA G E A E 1 E- Labor Week 6 Assignment: Production Costs 20 Points) Output MPL FC VC TC MC AFC AVC ATC (Q) 0 25 WN 25 50 75 100 13 25 15 F 16 25 125 1. Complete the table above. (4...

  • 2. The cost function for your firm's product has been estimated as: TC = 30.25 +...

    2. The cost function for your firm's product has been estimated as: TC = 30.25 + 300 +0.25Q?, where TC is measured in dollars, and Q is output, where TC is measured in dollars, and Q is output. Labor is the only variable input. The wage is $120 ATC= AFC =- AVC= MC - Minimum ATC is $ The marginal product of labor al minimum ATC is Find AVC and AP for an output level of 14. AVC = $_...

  • 1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions:...

    1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions: TR = 10Q TC = 2 + 2Q + Q2 MC = 2 + 2Q At the level of output maximizing profit , the above firm's level of economic profit is                                                                                                           A) $0 B) $4 C) $6 D) $8 *Additional information after I did the math: The price this firm charges for its product is $10, the level of output maximizing profit is 4...

  • pogu u (a) Calculate the fixed cost (FC), average fixed cost (AFC), average variable cost (AVC),...

    pogu u (a) Calculate the fixed cost (FC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC) and marginal cost (MC) from the table below. Units of output Total cost AFC ATC FC 50 AVC 0 0 MC 0 0 80 128 180 280 405 (b) Draw graphs to plot these cost curves against output. (c) Explain what these shapes tell us about returns and efficiency.

  • e. If Total Variable Costs were $20 greater at each level of output, what would happen...

    e. If Total Variable Costs were $20 greater at each level of output, what would happen to the location of the: (1) AFC curve? (2) AVC curve? (3) ATC curve? Normal textTimes New. 12 BTUA 0 - 1 E E EE 4 230 3. A firm has Short-Run Costs as indicated in the table below. Total TC TFC TVC ATC AFC AVC МС Product 0 $ 80 $ 80 $0 125 80 45 $125 $80 $45 45 $45 2 165...

  • Describe the shape of AFC(average fixed cost), AVC(Average Variable cost), ATC(Average total cost) and MC(Marginal cost)...

    Describe the shape of AFC(average fixed cost), AVC(Average Variable cost), ATC(Average total cost) and MC(Marginal cost) Explain graphic relationship among ATC, AVC and MC. I would be appreciated if the answered in 5senteces,

  • The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly...

    The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. Instructions: Use the tools provided to plot the profit-maximizing quantity (Q), the profit-maximizing price (P), the profit (Profit), and the deadweight loss (DWL). Note that the deadweight loss will be only approximate due to the curvature of the marginal cost curve....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT