Homework Answers
Option 4
The long run average costs of a natural monopoly falls continuously with the increase in output over a large range of output which is observed in the case of graph 4
Add Answer to:
When understanding production cost in economics the return generated by the investment (cost) is understood to...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
In the graph below for City Gas, which is a natural monopoly, there are a variety...
In the graph below for City Gas, which is a natural monopoly, there are a variety of curves which represent the long run position. A blue curve showing demand, a purple curve showing average cost, a red curve showing marginal cost, and a light green curve showing marginal revenue. As it relates to the marginal revenue curve, what can you tell about the natural monopoly position of City Gas and its marginal revenue situation? City Gas-A Natural Monopoly 8 Demand...
In the graph blow, the blue curves illustrates a с Quantity of Output Quantity of the...
In the graph blow, the blue curves illustrates a с Quantity of Output Quantity of the Variable Input long-run average cost curve. total cost curve. total product curve. marginal cost curve. supply curve. In the graph below, point C illustrates the range of с Quantity of Output B A Quantity of the Variable Input increasing marginal returns. constant marginal returns. decreasing marginal costs. diminishing marginal returns.
These two question please Question 8 (1 point) When do constant returns to scale occur? when...
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm...
(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...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because...
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...
In economics, a cost which must be paid regardless of the level of output production is...
In economics, a cost which must be paid regardless of the level of output production is called Select one: a zero marginal cost b. elastic overhead c. a fixed cost d diminishing returns When a technology improvement increases the output per employee, then the cost per unit of output will Select one: a decrease b. increase c. not change d become negative c
Consider the local telephone company, a natural monopoly. The following graph shows the demand curve for...
Consider the local telephone company, a natural monopoly. The following graph shows the demand curve for phone services, the company's marginal revenue curve (labeled MR), its marginal cost curve (labeled MC), and its average total cost curve (labeled ATC). You can hover over the points on the graph to see their exact coordinates. PRICE, COST, MR (Dollars per month) 100 90 80 70 60 Demand 50 40 30 ATC 20 MC 10 MR 54 60 30 36 42 48 0...
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. Workers Output Marginal Product Total Cost Average Total Cost Marginal Cost 0 0 --- --- --- 1 20
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. WorkersOutputMarginal ProductTotal CostAverage Total CostMarginal Cost00---------1202503904120514061507155a. Using the information above, calculate the marginal product, total cost, average total cost, and marginal cost. Identify the output level at minimum average total cost for Toys Create Corp. b. Construct the marginal-cost and average-total-cost curves for Toys Create Corp. Using your own words, explain diminishing marginal product and...
he setter ot profia and coats are riaing l costs a al costs equal average total...
he setter ot profia and coats are riaing l costs a al costs equal average total orts are falling mereased prochst , the ศ.an run, the umpetsive firm's supply curve is te portion of the marginal cost curve hat es ta are minimized above the average variable cost curve a following statements is above the average variabde cost partion of the marginal cost erve that es b. upward-sloping portion of the averag variable cost curve n the short run. e...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
In the graph below for City Gas, which is a natural monopoly, there are a variety of curves which represent the long run position. A blue curve showing demand, a purple curve showing average cost, a red curve showing marginal cost, and a light green curve showing marginal revenue. As it relates to the marginal revenue curve, what can you tell about the natural monopoly position of City Gas and its marginal revenue situation? City Gas-A Natural Monopoly 8 Demand...
In the graph blow, the blue curves illustrates a с Quantity of Output Quantity of the Variable Input long-run average cost curve. total cost curve. total product curve. marginal cost curve. supply curve. In the graph below, point C illustrates the range of с Quantity of Output B A Quantity of the Variable Input increasing marginal returns. constant marginal returns. decreasing marginal costs. diminishing marginal returns.
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
(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...
In economics, a cost which must be paid regardless of the level of output production is called Select one: a zero marginal cost b. elastic overhead c. a fixed cost d diminishing returns When a technology improvement increases the output per employee, then the cost per unit of output will Select one: a decrease b. increase c. not change d become negative c
Consider the local telephone company, a natural monopoly. The following graph shows the demand curve for phone services, the company's marginal revenue curve (labeled MR), its marginal cost curve (labeled MC), and its average total cost curve (labeled ATC). You can hover over the points on the graph to see their exact coordinates. PRICE, COST, MR (Dollars per month) 100 90 80 70 60 Demand 50 40 30 ATC 20 MC 10 MR 54 60 30 36 42 48 0...
he setter ot profia and coats are riaing l costs a al costs equal average total orts are falling mereased prochst , the ศ.an run, the umpetsive firm's supply curve is te portion of the marginal cost curve hat es ta are minimized above the average variable cost curve a following statements is above the average variabde cost partion of the marginal cost erve that es b. upward-sloping portion of the averag variable cost curve n the short run. e...
Most questions answered within 3 hours.
-
3) What are the typical social structures in a global city?
asked 31 seconds from now -
Luther Corporation
Consolidated Balance Sheet
December 31, 2019 and 2018 (in $ millions)
Assets
2019
2018...
asked 1 minute ago -
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 2 hours ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 3 hours ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 4 hours ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 4 hours ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 5 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 5 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 6 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 7 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 7 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 7 hours ago