Homework Answers
Answer
Option 4
Only II
the slope is the marginal cost so Q=3 then MC=1.25
Q=8 then MC=1.8
So statement II is true
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(Figure: Average Total Cost and Quantity of Output IIT) Which of the following statements is (are)...
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1...
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1 Figure 1 1. In Figure 1, at output 0B, line segment HK equals A. average fixed cost. B. fixed cost. C. average total cost. D. marginal cost. E. total cost. NC 2. According to Figure 1, the marginal cost curve cuts the average total cost curve at output 3. Average total cost is minimized in Figure 1when output equals 4. Marginal cost is minimized...
Figure 13-2 The figure depicts a total cost function for a firm that produces cookies. Total Cost Quantity of Output (#...
Figure 13-2 The figure depicts a total cost function for a firm that produces cookies. Total Cost Quantity of Output (# of cookies) Refer to Figure 13-2. What does the changing slope of the total-cost curve reflect? decreasing average variable cost decreasing average total cost decreasing marginal product O decreasing marginal cost The figure depicts a total cost function for a firm that produces cookies. Total Cost Quantity of Output (# of cookies) Refer to Figure 13-2. What is the...
Refer to the figure. Which of the following statements is not true? Costs - ATC Quantity...
Refer to the figure. Which of the following statements is not
true?
Costs - ATC Quantity Refer to the figure. Which of the following statements is not true? AO The shape of the average-total-cost curve in the future suggests that the firm is experiencing economies of scale. BO The shape of the average-total-cost curve indicates that this monopoly stems from ownership of a key resource by a single firm. CO Average total cost would rise if production of this good...
The average total cost curve is U-shaped. At the quantity of output where average total cost...
The average total cost curve is U-shaped. At the quantity of output where average total cost is at its minimum, is the marginal cost curve above the average total cost curve, below the average total cost curve, or intersecting the average total cost curve?
1. Which of the following must be true when average total cost is decreasing? Average fixed...
1. Which of the following must be true when average total cost is decreasing? Average fixed cost is increasing. Average variable cost is constant. Marginal cost is lower than avergae total cost. Marginal cost is decreasing. 2. Which of the following is true? AVC=ATC+AFC. AFC will go up in the beginning but will eventually go down. MC= (change in TC)/ (change in Q) FC+MC=TC. 3. Which of the following is true? Average product (AP) is increasing when the marginal product...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve,...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable...
Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). B) Graph the average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and the marginal cost (MC) curves on one graph and TFC curve, TVC cost curve, and TC curve on another graph. Quantity Produced Total Cost 0 $ 120 1 135 2 148 3 159 ...
Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable...
Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable Cost (TVC) Average Variable Cost (AVC) Total Cost (TC) Average Total Cost (ATC) Marginal Cost (MC) 0 $200 $0 $200 1 $200 (A) 30 (H) 230 (M) (S) 2 $200 (B) 50 (I) 250 (N) (T) 3 $200 (C) (F) $26.67 (K) (P) (U) 4 $200 (D) 130 (J) 330 (Q) (V) 5 $200 (E) (G) $40 (L) (R) (W) Refer to Exhibit 22-13. What...
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...
Question 1 In the short run, as output increases, the difference between average total cost and...
Question 1 In the short run, as output increases, the difference between average total cost and average variable cost decreases. the difference between total cost and average variable cost decreases marginal cost eventually decreases. All of the above are correct. Question 2 The marginal cost curve intersects the at its minimum average variable cost curve average total cost curve average fixed cost curve A and B are both correct. Question 3 Refer to the short-run information provided in Figure 8.5...
Questions 1- 10 refer to the short-run total and variable cost curves shown in Figure 1 Figure 1 1. In Figure 1, at output 0B, line segment HK equals A. average fixed cost. B. fixed cost. C. average total cost. D. marginal cost. E. total cost. NC 2. According to Figure 1, the marginal cost curve cuts the average total cost curve at output 3. Average total cost is minimized in Figure 1when output equals 4. Marginal cost is minimized...
Figure 13-2 The figure depicts a total cost function for a firm that produces cookies. Total Cost Quantity of Output (# of cookies) Refer to Figure 13-2. What does the changing slope of the total-cost curve reflect? decreasing average variable cost decreasing average total cost decreasing marginal product O decreasing marginal cost The figure depicts a total cost function for a firm that produces cookies. Total Cost Quantity of Output (# of cookies) Refer to Figure 13-2. What is the...
Refer to the figure. Which of the following statements is not
true?
Costs - ATC Quantity Refer to the figure. Which of the following statements is not true? AO The shape of the average-total-cost curve in the future suggests that the firm is experiencing economies of scale. BO The shape of the average-total-cost curve indicates that this monopoly stems from ownership of a key resource by a single firm. CO Average total cost would rise if production of this good...
The average total cost curve is U-shaped. At the quantity of output where average total cost is at its minimum, is the marginal cost curve above the average total cost curve, below the average total cost curve, or intersecting the average total cost curve?
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Question 1 In the short run, as output increases, the difference between average total cost and average variable cost decreases. the difference between total cost and average variable cost decreases marginal cost eventually decreases. All of the above are correct. Question 2 The marginal cost curve intersects the at its minimum average variable cost curve average total cost curve average fixed cost curve A and B are both correct. Question 3 Refer to the short-run information provided in Figure 8.5...
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