The average variable cost curve slopes upward with a higher rate of output in the short...
- The average variable cost curve slopes upward with a higher rate of output in the short run because of
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A. |
The effect of diminishing returns. |
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B. |
The shape of the average fixed cost curve. |
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C. |
Diseconomies of scale. |
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D. |
Implicit but not explicit costs. |
Homework Answers
The right answer is option A, that is, the effect of diminishing returns. When the diminishing returns set in that implies the cost will rise higher than the output because of the diminishing returns.
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The average variable cost curve slopes upward with a higher
rate of output in the short...
1. The long-run average cost curve slopes upward if there are: A. economies of scale B....
1. The long-run average cost curve slopes upward if there are: A. economies of scale B. diseconomies of scope in the management of multiplant operates C. Some factors without diminishing marginal returns D. diseconomies of scale E. no factor without diminishing marginal returns
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...
Which of the following statements is (are) correct? (x) The average variable cost curve declines as...
Which of the following statements is (are) correct? (x) The average variable cost curve declines as quantity increases because variable costs always decrease as output increases. (y) The average variable cost curve and average total cost curve will eventually intersect as output increases because average fixed cost eventually becomes negative. (z) The marginal cost curve crosses the average total cost curve at the efficient scale, which occurs at the minimum point on the average total cost curve. A. (x), (y)...
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 diminishing marginal revenues B diseconomies of scale C increasing marginal productivity of variable inputs. D diminishing marginal returns E. rising fixed costs rising fixed costs
The upward sloping portion of a short-run total cost curve illustrates: a. Diseconomies to scale b....
The upward sloping portion of a short-run total cost curve illustrates: a. Diseconomies to scale b. Neither of the above c. Diminishing marginal returns
Which of the following is NOT true about the long run average cost curve (LRAC)? Select...
Which of the following is NOT true about the long run average cost curve (LRAC)? Select one: a. the shape of the LRAC is due to economies and diseconomies of scale b. the LRAC is influenced by the short run average cost curves c. the LRAC represents the least expensive average cost curve for any level of output d. the shape of the LRAC is due to the law of diminishing marginal returns
Is it true that in a short-run production process, the marginal cost curve eventually slopes upward...
Is it true that in a short-run production process, the marginal cost curve eventually slopes upward because firms have to pay workers a higher wage rate as they produce more output? Explain your answer.
A firm will continue to operate in the long run only if: it earns a positive...
A firm will continue to operate in the long run only if: it earns a positive rate of return. it earns a nonnegative economic profit. it makes a positive accounting profit. average cost exceeds price. the average variable cost exceeds price. A profit-maximizing firm should shut down in the short run if: price is greater than marginal cost. total revenue is less than total variable cost. the firm is earning less than a normal rate of return. the firm is...
If a firm is earning economic losses,
1. If a firm is earning economic losses, a. it also has an accounting loss. b. the owner could be earning more in some other occupation. c. the firm must go out of business in the short run. d. new firms will want to get into that industry. 2. Economists say that a firm has a normal profit when a. it earns a return of at least 10 percent. b. its accounting profit exceeds its implicit costs. c. it can pay all its variable costs. d....
average total cost curve is rising. then the marginal co curve will be: A. Below the...
average total cost curve is rising. then the marginal co curve will be: A. Below the average fixed cost curve. B. Falling with greater output.. C. Above the average total cost curve. D. Below the average total cost. curve. 18. Explicit costs; A. Include only payments to labor... B. Are the sum of actual monetary pa he sum of actual monetary payments made for resources used to produce a good. t rades a aaed. Laclude the market value of all...
average total cost curve is rising. then the marginal co curve will be: A. Below the average fixed cost curve. B. Falling with greater output.. C. Above the average total cost curve. D. Below the average total cost. curve. 18. Explicit costs; A. Include only payments to labor... B. Are the sum of actual monetary pa he sum of actual monetary payments made for resources used to produce a good. t rades a aaed. Laclude the market value of all...
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