the marginal resource cost is the additional cost of employing one additional unit of the resource...
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The answer is True
The marginal cost of the asset is the additional cost of using another input component. It is calculated by the total cost change divided by the number of input changes.
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marginal resource cost is the additional cost of employing one
additional unit of the resource...
Marginal cost is the change in total cost caused by a one-unit increase in output. A)...
Marginal cost is the change in total cost caused by a one-unit increase in output. A) True B) False Average total cost is equal to average variable cost plus average fixed cost. A) True B) False Diminishing marginal returns means that as you combine more units of a variable resource with a set of fixed resources, the marginal product decreases. A) True B) False
Marginal benefit is the O additional cost of one more unit of an activity. O additional...
Marginal benefit is the O additional cost of one more unit of an activity. O additional gain from one more unit of an activity minus the additional cost from one more unit of the activity. O additional gain from one more unit of an activity. O loss of the highest-valued alternative.
Marginal cost represents the Question 21 options: 1) additional cost of hiring one more unit of...
Marginal cost represents the Question 21 options: 1) additional cost of hiring one more unit of input 2) the amount of output we get when spending $1 more on inputs 3) additional cost of producing one more unit of output. 4) change in total cost divided by the change in an input. 5) all of the above.
5. The cost of producing an additional unit of output is the firm’s a. Marginal cost b. Average total cost c. Variab...
5. The cost of producing an additional unit of output is the firm’s a. Marginal cost b. Average total cost c. Variable cost d. Average variable cost 6. Which of the following equations represents a typical (generic) production function studied by economists? a. E = mc2 b. MC = (change in total costs)/(change in quantity) c. Profit = Total Revenue – Total Costs d. Q = f(K,L) e. ECON 202 = fun 7. A firm would never choose to continue...
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is...
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist A) is in equilibrium. B) should increase output. C) should reduce output. D) should raise the price at the current output level. Question 40 (Mandatory) (5 points) The marginal revenue product of a resource measures OA) the additional cost to a firm of employing one more unit of...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as long as the marginal product of labor is positive. the amount of labor needed to produce the profit-maximizing the amount of labor needed to produce the revenue-max the number of workers they can afford given a fixed budget. ce the profit-maximizing level of output. produce the revenue-maximizing level of output. Ceteris paribus, the value of the marginal product of labor (demand for labor by...
If, for the last unit of a resource extracted in each period, the marginal benefit equals...
If, for the last unit of a resource extracted in each period, the marginal benefit equals total marginal cost then . . . A)The allocation is efficient but may not sustainable B)The allocation is both efficient and sustainable C) The allocation is both efficient but only weakly sustainable D) The allocation may not be either sustainable or or efficient
18.)A profit-maximizing firm in a competitive market should stop employing additional units of a factor when...
18.)A profit-maximizing firm in a competitive market should stop employing additional units of a factor when a.)marginal revenue of the factor is maximized b.)price of the product is greater than the marginal cost of the factor c.)marginal cost of employing the factor is minimized d.)value of the marginal product of the factor equals the price of the factor e.)marginal product of the factor is maximized 19.)A firm in a competitive market will employ additional capital until its value of the...
Marginal cost is defined as the change in ________ cost when output changes by one unit....
Marginal cost is defined as the change in ________ cost when output changes by one unit. In the short run, marginal cost can also be measured by the change in ________ cost when output changes by one unit. total; fixed variable; fixed fixed; variable total; variable
True or False. Two part tariffs always involve setting the price per unit above marginal cost.
True or False. Two part tariffs always involve setting the price per unit above marginal cost.
Marginal benefit is the O additional cost of one more unit of an activity. O additional gain from one more unit of an activity minus the additional cost from one more unit of the activity. O additional gain from one more unit of an activity. O loss of the highest-valued alternative.
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist A) is in equilibrium. B) should increase output. C) should reduce output. D) should raise the price at the current output level. Question 40 (Mandatory) (5 points) The marginal revenue product of a resource measures OA) the additional cost to a firm of employing one more unit of...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as long as the marginal product of labor is positive. the amount of labor needed to produce the profit-maximizing the amount of labor needed to produce the revenue-max the number of workers they can afford given a fixed budget. ce the profit-maximizing level of output. produce the revenue-maximizing level of output. Ceteris paribus, the value of the marginal product of labor (demand for labor by...
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