If fixed costs do not change, then marginal cost also remains constant. equals the change in...
- If fixed costs do not change, then marginal cost
- also remains constant.
- equals the change in average fixed cost divided by the change in output.
- equals the change in average variable cost divided by the change in output.
- equals the change in variable cost divided by the change in output.
Homework Answers
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If fixed costs do not change, then marginal cost
also remains constant.
equals the change in...
1)Which of the following statements is true? A. Average fixed cost equals total fixed cost divided...
1)Which of the following statements is true? A. Average fixed cost equals total fixed cost divided by total output. B. Average total cost always falls as output increases. C. Average fixed cost equals average total cost plus average variable cost. D. Average variable cost is always greater than average fixed cost. 2) As output increases, average fixed cost A. remains constant. B. always decreases. C. decreases, then increases. D. increases, then decreases. 3) Average total cost minus average variable cost...
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average...
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average variable cost e.) Diseconomies of scale f.) Economies of scale 9.) Fixed costs m.) Optimal output rule h.) Law of diminishing marginal productivity n.) Profit i.) Long run 0.) Short run 1.) Marginal cost p.) Total cost k.) Marginal product q.) Total product 1.) Marginal revenue r.) Variable costs 1.) Total revenue minus total cost 2.) The sum of total fixed and total variable...
Marginal cost is defined as: the change in total costs from producing one more unit of output. the change in fixed c...
Marginal cost is defined as: the change in total costs from producing one more unit of output. the change in fixed cost from producing one more unit of output. total cost divided by total output. total variable cost divided by total output. The marginal cost curve often decreases at first and then starts to increase. This is explained by: the law of diminishing returns. economies of scale. increasing ATC. From the information given in the following table, calculate the marginal...
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...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the additio...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the addition of which worker? a. The third worker. b. The fourth worker. c. The fifth worker. d. The sixth worker. Average total cost equals a. 21. change in total costs divided by quantity produced. b. change in total costs divided by change in quantity produced. (fixed costs+ variable costs) divided by quantity produced. c. d. (fixed costs + variable costs) divided by change in...
which of the following statements is (are) correct? (x) Average variable cost equals variable costs divided...
which of the following statements is (are) correct? (x) Average variable cost equals variable costs divided by quantity produced. (y) Marginal cost equals the change in variable costs divided by the change in quantity produced. (z) If you find the difference between average total cost and average variable cost and then multiply that value by the specified quantity then the resulting value is the amount of fixed costs. A. (x), (y) and (z) B. (x) and (y) only C. (x)...
1b. Will a change in fixed costs change total variable cost? 1c. Will a change in...
1b. Will a change in fixed costs change total variable cost? 1c. Will a change in fixed costs change average cost? 1d. Will a change in fixed costs change marginal cost?
Suppose a company has $400 of fixed costs and a constant marginal cost of 10 cents....
Suppose a company has $400 of fixed costs and a constant marginal cost of 10 cents. What are average total costs (ATC) (a) Output of 10 units? (b) Output of 100 units? (c) Output of 1,000 units?
Microeconomics. Prove the following: 1. Consider a firm that has fixed costs. Its marginal cost curve...
Microeconomics. Prove the following: 1. Consider a firm that has fixed costs. Its marginal cost curve must pass through the lowest point on the average cost curve. Also, it must pass through the lowest point on the average variable cost curve. 2. If input prices for a firm are doubled, then the cost function must double for all levels of output. 3. Consider a firm that has fixed cost F. This firm will not change its output decision regardless of...
Fixed costs if sales and production output rises substantially. fall O do not change Question 8...
Fixed costs if sales and production output rises substantially. fall O do not change Question 8 The production costs of raw material and labor are properly called variable costs O total costs Omarginal costs Question 9 Computing the change in total costs between two levels of output and dividing that number by the corresponding change in output quantity gives us a numbe called: 0 T tal Average Cost OTotal Variable Cost Marginal Fixed Cost Manginal co e畚白 8% 3 4...
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average variable cost e.) Diseconomies of scale f.) Economies of scale 9.) Fixed costs m.) Optimal output rule h.) Law of diminishing marginal productivity n.) Profit i.) Long run 0.) Short run 1.) Marginal cost p.) Total cost k.) Marginal product q.) Total product 1.) Marginal revenue r.) Variable costs 1.) Total revenue minus total cost 2.) The sum of total fixed and total variable...
Marginal cost is defined as: the change in total costs from producing one more unit of output. the change in fixed cost from producing one more unit of output. total cost divided by total output. total variable cost divided by total output. The marginal cost curve often decreases at first and then starts to increase. This is explained by: the law of diminishing returns. economies of scale. increasing ATC. From the information given in the following table, calculate the marginal...
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...
20. Refer to Table 13-3. Gallo's cork factory experiences diminishing marginal product of labor with the addition of which worker? a. The third worker. b. The fourth worker. c. The fifth worker. d. The sixth worker. Average total cost equals a. 21. change in total costs divided by quantity produced. b. change in total costs divided by change in quantity produced. (fixed costs+ variable costs) divided by quantity produced. c. d. (fixed costs + variable costs) divided by change in...
Fixed costs if sales and production output rises substantially. fall O do not change Question 8 The production costs of raw material and labor are properly called variable costs O total costs Omarginal costs Question 9 Computing the change in total costs between two levels of output and dividing that number by the corresponding change in output quantity gives us a numbe called: 0 T tal Average Cost OTotal Variable Cost Marginal Fixed Cost Manginal co e畚白 8% 3 4...
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