Which of the following expressions is correct? Select one: average total cost = (total cost)/(quantity of...
Which of the following expressions is correct?
Select one:
average total cost = (total cost)/(quantity of output)
total cost = variable cost + marginal cost
marginal cost = (change in quantity of output)/(change in total
cost)
average variable cost = (quantity of output)/(total variable
cost)
Homework Answers
1. Average total cost = Total cost / Quantity (Correct)
Other options are incorrect. The correct formula of other is as below.
2. Total cost = Fixed cost + Variable cost
3. Marginal cost = ∆ in Total cost / ∆ in Quantity
4. Average variable cost = TVC / Quantity
Add Answer to:
Which of the following expressions is correct?
Select one:
average total cost = (total cost)/(quantity of...
(Figure: Average Total Cost and Quantity of Output IIT) Which of the following statements is (are)...
(Figure: Average Total Cost and Quantity of Output IIT) Which of the following statements is (are) TRUE? Average total cost (5) Slope 1.25 6 7 8 9 10 Quantity of output L. ALO3, the marginal cost is $2.33 II. At Q = 8, the marginal cost is $1.80. III. The slope of the total cost (TC) curve at 3 is $2.33 OL II and III I and III On
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...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
Select choices which are true about Average Total Costs. (Select all that apply.) (change in Total...
Select choices which are true about Average Total Costs. (Select all that apply.) (change in Total Cost) divided by (change in Quantity) always vertical (Total Variable Cost plus Total Fixed Cost) divided by Quantity crosses Average Variable Cost at minimum point of Average Variable Cost Average Variable Cost plus Average Fixed Cost Total Cost divided by Quantity
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...
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average...
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average variable cost e.) Diseconomies of scale f.) Economies of scale 9.) Fixed costs m.) Optimal output rule h.) Law of diminishing marginal productivity n.) Profit i.) Long run 0.) Short run 1.) Marginal cost p.) Total cost k.) Marginal product q.) Total product 1.) Marginal revenue r.) Variable costs 1.) Total revenue minus total cost 2.) The sum of total fixed and total variable...
Which of the following explains the relationship among different cost functions? Select one: o a. The...
Which of the following explains the relationship among different cost functions? Select one: o a. The marginal cost of the fifth unit of output equals the total fixed cost of five'units minus the total fixed cost of four units. 0. b. The total variable cost of seven units equals the average variable cost of seven units divided by seven. O c. The marginal cost of the fifth unit of output equals the total variable cost of five units minus the...
1. Complete the following table: Quantity Total Cost Marginal Cost Average Variable Cost Average Total Cost...
1. Complete the following table: Quantity Total Cost Marginal Cost Average Variable Cost Average Total Cost 30 -- 10 10 27.5 17.5 130
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)...
need answer quickly Which of the following explains the relationship among different cost functions? Select one:...
need answer quickly
Which of the following explains the relationship among different cost functions? Select one: a. The marginal cost of the fifth unit of output equals the total fixed cost of five units minus the total fixed cost of four units. b. The total variable cost of seven units equals the average variable cost of seven units divided by seven c. The average total cost of seven units equals the average variable cost of the seven units minus the...
(Figure: Average Total Cost and Quantity of Output IIT) Which of the following statements is (are) TRUE? Average total cost (5) Slope 1.25 6 7 8 9 10 Quantity of output L. ALO3, the marginal cost is $2.33 II. At Q = 8, the marginal cost is $1.80. III. The slope of the total cost (TC) curve at 3 is $2.33 OL II and III I and III On
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
Select choices which are true about Average Total Costs. (Select all that apply.) (change in Total Cost) divided by (change in Quantity) always vertical (Total Variable Cost plus Total Fixed Cost) divided by Quantity crosses Average Variable Cost at minimum point of Average Variable Cost Average Variable Cost plus Average Fixed Cost Total Cost divided by Quantity
Matching (15 pts) a.) Average fixed costs b.) Average product c.) Average total cost d.) Average variable cost e.) Diseconomies of scale f.) Economies of scale 9.) Fixed costs m.) Optimal output rule h.) Law of diminishing marginal productivity n.) Profit i.) Long run 0.) Short run 1.) Marginal cost p.) Total cost k.) Marginal product q.) Total product 1.) Marginal revenue r.) Variable costs 1.) Total revenue minus total cost 2.) The sum of total fixed and total variable...
Which of the following explains the relationship among different cost functions? Select one: o a. The marginal cost of the fifth unit of output equals the total fixed cost of five'units minus the total fixed cost of four units. 0. b. The total variable cost of seven units equals the average variable cost of seven units divided by seven. O c. The marginal cost of the fifth unit of output equals the total variable cost of five units minus the...
1. Complete the following table: Quantity Total Cost Marginal Cost Average Variable Cost Average Total Cost 30 -- 10 10 27.5 17.5 130
need answer quickly
Which of the following explains the relationship among different cost functions? Select one: a. The marginal cost of the fifth unit of output equals the total fixed cost of five units minus the total fixed cost of four units. b. The total variable cost of seven units equals the average variable cost of seven units divided by seven c. The average total cost of seven units equals the average variable cost of the seven units minus the...
Most questions answered within 3 hours.
-
A piece of charcoal (essentially 100% carbon) from an
archaeological site in Egypt is subjected to...
asked 9 minutes ago -
7) A) Balance the following reaction:
__H2SO4 + __NaOH __Na2SO4 + __H2O
b) Classify the...
asked 11 minutes ago -
Planets X, Y, and Z have circular orbits around a Star, which is
similar to our...
asked 20 minutes ago -
Use case analysis is used to ____
a) communicate system requirements
b) implement the system
c)...
asked 18 minutes ago -
What is the equilibrium constant for the reaction below, given
the listed concentrations at equilibrium? Report...
asked 21 minutes ago -
The following account appears in the ledger prior to recognizing
the jobs completed in August:
Work...
asked 22 minutes ago -
Air contained in a piston-cylinder undergoes two processes in
series. In the first the air expands...
asked 27 minutes ago -
Propose a circuit that has an effective resistance of 6666ohms.
Include drawing.
asked 36 minutes ago -
Starting with a given fatty acid: C22:6 w-3 go through the
process of beta oxidation. begin...
asked 36 minutes ago -
The membrane filter technique was used to test a polluted water
for the coliform group. Three...
asked 43 minutes ago -
I have a node.h and node.cpp file. The goal is to combine the
code using a...
asked 42 minutes ago -
1a
Your cell suspension is 6.3 x 10^8 cells /mL. Explain how to
prepare a tube...
asked 49 minutes ago