If Q = 2LK2 , what happens to average cost as the firm expands (produces more)?...
If Q = 2LK2 , what happens to average cost as the firm expands (produces more)?
AC reaches its maximum
AC increases
AC decreases
AC stays constant
Homework Answers
If Q= 2LK2 , AC ( Average Cost) will decrease as the firm expands or produces more.
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If Q = 2LK2 , what happens to average cost as the firm expands
(produces more)?...
Question 20 If Q-0.5L +0.2K, what happens to average cost as the firm expands (produces more)?...
Question 20 If Q-0.5L +0.2K, what happens to average cost as the firm expands (produces more)? CAC increases CAC decreases CAC reaches its maximum CAC stays constant « Previous Saving. Sul ODD F4
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the...
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the firm expands (produces more)? AC decreases AC stays constant AC reaches its maximum AC increases
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the...
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the firm expands (produces more)? AC decreases AC is constant AC increases AC reaches its maximum - Previous Next →
A firm's learning curve, which shows the relationship between average cost and cumulative output (the sum...
A firm's learning curve, which shows the relationship between average cost and cumulative output (the sum of its output since the firm started producing), is AC = a + bn", where AC is its average cost; N is its cumulative output; and a, b, and r are constants. What is the firm's AC if r=0? If r= 0, then AC = a + b. (enter formula) If r= 0, what can you say about the firm's ability to learn by...
3. Let the average cost curve for any firm in an industryb AC 12 where Q is firm output so that the average cost for various levels of output is the following: Level of output of the firm Average...
3. Let the average cost curve for any firm in an industryb AC 12 where Q is firm output so that the average cost for various levels of output is the following: Level of output of the firm Average cost of the firm AC infinite AC# 24625 AC- 13.5 AC-10.625 АС. 10 AC# 11.5 AC-15 Q-0 Q#1 Q-2 Let inverse market demand be 12-Q. Is this industry a natural monopoly? Elaborate.
3. Let the average cost curve for any firm...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost increases. B) long-run average cost decreases. C) short-run average total cost decreases. D) long-run average cost stays constant 14. Economies of scale can occur as a result of which of the following? A) increasing marginal costs as the firm increases its size B) higher fixed cost as the firm increases its size C) management difficulties as the firm increases its size D) greater specialization...
a typical long-run average cost a firm in the perfectly competitive widget market reaches its minimum average cost at $...
a typical long-run average cost a firm in the perfectly competitive widget market reaches its minimum average cost at $35/unit at 10,000 units. draw the long-run market supply curve. assume that factor prices do not chang as the industry expands or contracts
i) The long run cost function for each firm in a perfectly competitive market is c(q)...
i) The long run cost function for each firm in a perfectly competitive market is c(q) = 2^1.5+16q^0.5, LMC = 1.59^0.5+ 8q^-0.5, market demand curve is Q=1600-2p. Find price (p) of output and the level of output (q) produced by the firm in a long run equilibrium. Find the long run average cost curve for the firm. ii) what happens in the long run if the market demand curve shifts to Q=160-20p?/ -A competitive industry is in long run equilibrium....
Refer to the following table. What is the average variable cost of producing three units of...
Refer to the following table. What is the average variable cost of producing three units of the good? Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 — — — — — — — 2 — — $600 — — — — 3 — — — — ????? — $20 4 — $440 — — — — — 5 $500 — — — — — — a. $20...
Consider a firm with the following cost function C(q) = 30 + 5q. What is the...
Consider a firm with the following cost function C(q) = 30 + 5q. What is the firm's average cost function? O A. Ac=(30/q)+59 OB. AC=(30/q)+5 OC. AC=30q+(5/9) OD. Cannot be calculated with the information given OE. None of the above.
Question 20 If Q-0.5L +0.2K, what happens to average cost as the firm expands (produces more)? CAC increases CAC decreases CAC reaches its maximum CAC stays constant « Previous Saving. Sul ODD F4
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the firm expands (produces more)? AC decreases AC stays constant AC reaches its maximum AC increases
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the firm expands (produces more)? AC decreases AC is constant AC increases AC reaches its maximum - Previous Next →
A firm's learning curve, which shows the relationship between average cost and cumulative output (the sum of its output since the firm started producing), is AC = a + bn", where AC is its average cost; N is its cumulative output; and a, b, and r are constants. What is the firm's AC if r=0? If r= 0, then AC = a + b. (enter formula) If r= 0, what can you say about the firm's ability to learn by...
3. Let the average cost curve for any firm in an industryb AC 12 where Q is firm output so that the average cost for various levels of output is the following: Level of output of the firm Average cost of the firm AC infinite AC# 24625 AC- 13.5 AC-10.625 АС. 10 AC# 11.5 AC-15 Q-0 Q#1 Q-2 Let inverse market demand be 12-Q. Is this industry a natural monopoly? Elaborate.
3. Let the average cost curve for any firm...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost increases. B) long-run average cost decreases. C) short-run average total cost decreases. D) long-run average cost stays constant 14. Economies of scale can occur as a result of which of the following? A) increasing marginal costs as the firm increases its size B) higher fixed cost as the firm increases its size C) management difficulties as the firm increases its size D) greater specialization...
i) The long run cost function for each firm in a perfectly competitive market is c(q) = 2^1.5+16q^0.5, LMC = 1.59^0.5+ 8q^-0.5, market demand curve is Q=1600-2p. Find price (p) of output and the level of output (q) produced by the firm in a long run equilibrium. Find the long run average cost curve for the firm. ii) what happens in the long run if the market demand curve shifts to Q=160-20p?/ -A competitive industry is in long run equilibrium....
Consider a firm with the following cost function C(q) = 30 + 5q. What is the firm's average cost function? O A. Ac=(30/q)+59 OB. AC=(30/q)+5 OC. AC=30q+(5/9) OD. Cannot be calculated with the information given OE. None of the above.
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