Ans) the correct option is d) negative ; positive
Marginal cost is the change in total cost due to an addition unit of output
Total cost falls when marginal cost is and total cost rises when marginal cost is A....
When marginal cost of production falls below the average total cost of production, we know that: A. marginal cost is negative B. average total cost is decreasing C. the firm has diseconomies of scale D. average total cost is increasing
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...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm experiences [ (Click to select) diseconomies of scale diminishing marginal returns increasing marginal returns b. The minimum efficient scale is the level of output produced by the smallest firm in the industry. smallest level of output at which a firm can produce. only level of output where long-run average total costs are minimized. smallest level of output needed to attain...
Marginal cost Group of answer choices A. Falls in the short run because some resources are fixed. B. Falls whenever marginal physical product decreases. C. Rises whenever marginal revenue product rises. D. Rises as a direct result of diminishing returns.
As society is near total pollution abatement O A. the marginal cost to society falls but then rises. O B. the marginal cost to society falls. O c. the marginal cost to society equals the marginal benefit to society. OD. the marginal cost to society rises. Technological change that makes it easier to produce in a "cleaner" fashion would cause O A. the marginal cost curve of pollution abatement to shift right, increasing the degree of air quality OB. the...
Marginal cost: rises as long as marginal product continues to fall is the total cost of producing each unit of output is average product divided by the change in total cost is marginal product divided by the change in total cost O is the change in total cost divided by the change in average product
When prices decrease, total revenue O A. rises when demand is price elastic. O B. falls when demand is unit elastic O C. rises when demand is price inelastic O D. falls when demand is price elastic.
Economies of scale occur when: Select one: a. the long-run average cost rises as output increases. b. the marginal cost falls as output increases. c. average fixed costs are constant. d. the long-run average cost falls as output increases
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because of a. diseconomies of scale. b. diminishing marginal revenues. c. rising fixed costs. d. increasing marginal productivity of variable inputs. e. diminishing marginal returns. . If the long-run average cost of production falls as the firm increases its level of output, then the firm exhibits a. constant returns to scale. b. constant marginal costs. c. economies of scale. d. diseconomies of scale. e. diminishing...
6. Total cost is calculated as a.the sum of total fixed cost and total variable cost. b.the product of average total cost and price. c. the sum of all the firm's explicit costs. d. the sum of average fixed cost and average variable cost 7. The formula for the total fixed cost is a.TFC = TC + TVC. b.TFC = TVC -TC c.. TFC = TC/TVC. d.TFC = TC -TVC 8.The Lawn Ranger, a landscaping company, has total costs of...