A company raises its worker's wages. We know the short-run average total cost curve and long-run...
A company raises its worker's wages. We know the short-run average total cost curve and long-run average cost curve will shift upwards when the company hires workers. What happens to the company’s marginal costs?
Homework Answers
The marginal cost of the company will also increase, marginal cost of the firm is the extra cost that the firm has to spend while producing an extra good, here, to produce more goods the firm in the market has to hire more labor and more labor means a higher marginal cost.
as the firm is paying higher wages now the cost of production of every good for the firm will also increase and that will lead to a higher marginal cost i.e. the cost of producing an extra good will increase.
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A company raises its worker's wages.
We know the short-run average total cost curve and long-run...
QUESTION 13 Every point on the long-run average cost curve is O on a short-run marginal...
QUESTION 13 Every point on the long-run average cost curve is O on a short-run marginal cost curve. also a minimum point on a short-run average cost curve. O on a short-run average total cost curve. O on a short-run average variable cost curve. QUESTION 14 If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that O average variable costs are $100. o marginal costs are...
Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm.
7. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Q1 marks the point of tangency between SRATC1 and LRATC The orange point on SRATCs indicates the firm's current output level in the short run (Q5). SRATC SRATC SRATC4...
The following graph shows the short-run average total cost curves and the long-run average total cost...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between SRATC1 and LRATC The orange point on SRATC, indicates the firm's current output level in the short run(Q). SRATC, SRATCE SRATC SRATC, SRATC COST PERUNT OUTPUT...
The following graph shows the short-run average total cost curves and the long-run average total cost...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between ATCi and LRATC The orange point on ATC1 indicates the firm's current output level in the short run (2) ATC, ATCs ATC ATC OUTPUT In the...
The following graph shows the short-run average total cost curves and the long-run average total cost...
The following graph shows the short-run average total cost
curves and the long-run average total cost curve for a publishing
firm. The five marked quantities indicate points of tangency
between each short-run average total cost curve ( SRATC ) and the
long-run average total cost curve ( LRATC ); for example, Q1 marks
the point of tangency between SRATC1 and LRATC .
7. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average...
10. Long-run cost relationships The following graph shows the short-run average total cost curves and the...
10. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Q, marks the point of tangency between ATC, and LRATC. The orange point on ATC3 indicates the firm's current output level in the short run (0). ATC AT LRA...
9. Long-run cost relationships The following graph shows the short-run average total cost curves and the...
9. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve LRATC); for example, Q1 marks the point of tangency between SRATC1 and LRATC. The orange point on SRATCs indicates the firm's current output level in the short run (Q5). SRATC SRATC SRATC...
1. In the following graph, a firm's short run total cost curve is given as ABCD...
1. In the following graph, a firm's short run total cost curve is given as ABCD and its long run total cost curve is given as OBEF. This fimm's short run total cost curve ABCD is tangent to its long run total cost curve OBEF at point B. (a) Draw this firm's short run average cost curve and long run average cost curve. [6 marks] (b) Draw this firm's short run marginal cost curve and long run marginal cost curve....
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the...
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average cost curve (LRAC); for example, Q1 marks the point of tangency between ATC, and LRAC. The orange point on ATC indicates the firm's current output level in the short run (Qs). ATC LRAC ATC ATC, COST...
The following graph shows the short run total cost curves and the long tun total cost...
The
following graph shows the short run total cost curves and the long
tun total cost curves for a publishing firm. the five marked
quantities indicate points of tangency between each short run
average total cost curve and the long run average cost curve.
could someone please help me to answer this and give a little
explenation for my similar problems?
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost...
QUESTION 13 Every point on the long-run average cost curve is O on a short-run marginal cost curve. also a minimum point on a short-run average cost curve. O on a short-run average total cost curve. O on a short-run average variable cost curve. QUESTION 14 If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that O average variable costs are $100. o marginal costs are...
7. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Q1 marks the point of tangency between SRATC1 and LRATC The orange point on SRATCs indicates the firm's current output level in the short run (Q5). SRATC SRATC SRATC4...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between SRATC1 and LRATC The orange point on SRATC, indicates the firm's current output level in the short run(Q). SRATC, SRATCE SRATC SRATC, SRATC COST PERUNT OUTPUT...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between ATCi and LRATC The orange point on ATC1 indicates the firm's current output level in the short run (2) ATC, ATCs ATC ATC OUTPUT In the...
The following graph shows the short-run average total cost
curves and the long-run average total cost curve for a publishing
firm. The five marked quantities indicate points of tangency
between each short-run average total cost curve ( SRATC ) and the
long-run average total cost curve ( LRATC ); for example, Q1 marks
the point of tangency between SRATC1 and LRATC .
7. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average...
10. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Q, marks the point of tangency between ATC, and LRATC. The orange point on ATC3 indicates the firm's current output level in the short run (0). ATC AT LRA...
9. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve LRATC); for example, Q1 marks the point of tangency between SRATC1 and LRATC. The orange point on SRATCs indicates the firm's current output level in the short run (Q5). SRATC SRATC SRATC...
1. In the following graph, a firm's short run total cost curve is given as ABCD and its long run total cost curve is given as OBEF. This fimm's short run total cost curve ABCD is tangent to its long run total cost curve OBEF at point B. (a) Draw this firm's short run average cost curve and long run average cost curve. [6 marks] (b) Draw this firm's short run marginal cost curve and long run marginal cost curve....
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average cost curve (LRAC); for example, Q1 marks the point of tangency between ATC, and LRAC. The orange point on ATC indicates the firm's current output level in the short run (Qs). ATC LRAC ATC ATC, COST...
The
following graph shows the short run total cost curves and the long
tun total cost curves for a publishing firm. the five marked
quantities indicate points of tangency between each short run
average total cost curve and the long run average cost curve.
could someone please help me to answer this and give a little
explenation for my similar problems?
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost...
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