Efficient scale describes the point where... a. Marginal Revenue intersects the demand curve b. Marginal Revenue...
Efficient scale describes the point where...
| a. |
Marginal Revenue intersects the demand curve |
|
| b. |
Marginal Revenue crosses Average Variable Cost |
|
| c. |
Marginal Revenue crosses Average Total Cost |
|
| d. |
Marginal Revenue crosses Marginal Cost |
Homework Answers
Answer is C.Efficient scale is where Marginal Revenue crosses Average Total Cost
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Efficient scale describes the point where...
a.
Marginal Revenue intersects the demand curve
b.
Marginal Revenue...
4) (20 pts) The marginal product curve intersects the average product curve at the maximum point...
4) (20 pts) The marginal product curve intersects the average product curve at the maximum point of the AP curve. Conversely, the marginal cost curve intersects the average variable cost curve at the minimum point of the AVC curve. a. Explain why this necessarily has to be the case. Present your answer both in mathematical and intuitive terms. Be as detailed as you possibly can in answering this question. b. Explain why the marginal cost curve above the average variable...
profit maximization occurs where a. marginal cost crosses marginal revenue b. marginal cost crosses average revenue...
profit maximization occurs where a. marginal cost crosses marginal revenue b. marginal cost crosses average revenue c. average variable cost crosses average revenue d. average variable cost crosses marginal revenue the main difference between the short run and long run is that: a. firms earn zero profits in the long run b. the long run always refers to a time period of one year or longer c. in the long run, only one variable can be fixed d. in the...
1- The break-even point is the point where: A. incremental revenue equals incremental costs. B. marginal...
1- The break-even point is the point where: A. incremental revenue equals incremental costs. B. marginal revenue equals marginal cost. C. the slope of the demand curve equals the slope of the cost curve. D. total revenue equals total cost. 2- When the threat of new entrants is low, prices tend to be: A. higher. B. stable. C. lower. D. variable. 3- Costs that do not change with the volume produced are referred to as: A. unavoidable costs. B. totally...
19. A monopolist maximizes profit A] where marginal revenue equals marginal cost B] where average revenue...
19. A monopolist maximizes profit A] where marginal revenue equals marginal cost B] where average revenue equals average cost [C] where price equals marginal cost [D] by charging the highest possible price on the demand curve.
Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve.
3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with...
As long as the demand curve lies above the marginal revenue curve for a monopolist, at...
As long as the demand curve lies above the marginal revenue
curve for a monopolist, at its profit-maximizing output level, it
will charge a price for its product that is
Question7 2 pts As long as the demand curve lies above the marginal revenue curve for a monopolist, at its profit-maximizing output level, it will charge a price for its product that is O above total cost. below marginal cost. O above marginal cost. O above average total cost.
The economy's long-run equilibrium is at the point where the aggregate demand curve intersects the long-run...
The economy's long-run equilibrium is at the point where the aggregate demand curve intersects the long-run aggregate supply curve. True False The aggregate supply curve shows the relationship between real GDP and the average price level. True False
vau AL. If a firm in an industry is granted a patent, then it becomes: Lan oligopoly. B. a pure monopoly. C. a mono...
vau AL. If a firm in an industry is granted a patent, then it becomes: Lan oligopoly. B. a pure monopoly. C. a monopolistic competition. D. a purely competitive. B 32. The minimum efficient scale of a firm: A. is realized somewhere in the range of diseconomies of scale. B. occurs where marginal product becomes zero. C. is in the middle of the range of constant returns to scale D. is the level of output at which long-run average total...
a monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost...
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Amarea cole A marginal cost curve intersects the average cost curve at the tuse he was...
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4) (20 pts) The marginal product curve intersects the average product curve at the maximum point of the AP curve. Conversely, the marginal cost curve intersects the average variable cost curve at the minimum point of the AVC curve. a. Explain why this necessarily has to be the case. Present your answer both in mathematical and intuitive terms. Be as detailed as you possibly can in answering this question. b. Explain why the marginal cost curve above the average variable...
19. A monopolist maximizes profit A] where marginal revenue equals marginal cost B] where average revenue equals average cost [C] where price equals marginal cost [D] by charging the highest possible price on the demand curve.
As long as the demand curve lies above the marginal revenue
curve for a monopolist, at its profit-maximizing output level, it
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vau AL. If a firm in an industry is granted a patent, then it becomes: Lan oligopoly. B. a pure monopoly. C. a monopolistic competition. D. a purely competitive. B 32. The minimum efficient scale of a firm: A. is realized somewhere in the range of diseconomies of scale. B. occurs where marginal product becomes zero. C. is in the middle of the range of constant returns to scale D. is the level of output at which long-run average total...
Amarea cole A marginal cost curve intersects the average cost curve at the tuse he was os curve a hel p on the wenge cost arve point of the average cost curve.
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