Question 5 Is the following statement true, false, or ambiguous? Justify your answer.“If the short-run average...
Homework Answers
If the short-run average cost curve is U-shaped, then the short-run average variable cost curve must also be U-shaped
The above statement is True
In the short run,the fixed cost is constant so the AFC curve keeps decreasing with an increase in output.
The firm changes its total output by changing its variable factors,so as it uses additional labor on the fixed factors,the total output will first increase at an increasing rate and then increase at a decreasing rate,so the AVC curve first falls and then increases which gives the ATC curve its shape.
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Question 5
Is the following statement true, false, or ambiguous? Justify
your answer.“If the short-run average...
4. (5 points) Is the following grammar ambiguous? Justify your answer (give a string and derive...
4. (5 points) Is the following grammar ambiguous? Justify your answer (give a string and derive it with two leftmost derivations using G). If it is ambiguous, rewrite this grammar to an unambiguous one (hint: recall "dangling else" as we discussed in the class)
Short-run and long-run average cost curves cannot be U-shaped under constant return to scale. True or...
Short-run and long-run average cost curves cannot be U-shaped under constant return to scale. True or false. Explain your answer intuitively with the help of one graph.
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11. True. 2.1. 2.2. 2.3. Peter is a plumber. He employs three workers...
The following graph shows the short-run average total cost curves and the long-run average total cost...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between SRATC1 and LRATC The orange point on SRATC, indicates the firm's current output level in the short run(Q). SRATC, SRATCE SRATC SRATC, SRATC COST PERUNT OUTPUT...
The following graph shows the short-run average total cost curves and the long-run average total cost...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between ATCi and LRATC The orange point on ATC1 indicates the firm's current output level in the short run (2) ATC, ATCs ATC ATC OUTPUT In the...
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false....
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False 2.6. Monopolistic competition is a market structure characterised by the fact that there is often collusion between the sellers. 2.7. Half-price specials are...
4. H ere are some True/False questions. If your answer is "TRUE", there is no need to justify you...
4. H ere are some True/False questions. If your answer is "TRUE", there is no need to justify your answer. If your answer is "FALSE", then you should justity your answer with a counterexample or explanation. There are also some "short-answer" questions. . A. (True-False). Every simple field extension of K is a finite field extension. . B. (True-False). Let R⑥ F be a field extension. Suppose that F is a of u E F, and splitting field for the...
Determine whether each statement is True or False. Justify each answer a. A vector is any...
Determine whether each statement is True or False. Justify each answer a. A vector is any element of a vector space. Is this statement true or false? O A. False; a vector space is any element of a vector O B. True by the definition of a vector space O C. False; not all vectors are elements of a vector space. b. If u is a vector in a vector space V, then (-1)u is the same as the negative...
In the short run, average total cost is less than average variable cost. sometimes higher and...
In the short run, average total cost is less than average variable cost. sometimes higher and sometimes lower than average variable cost. higher than average variable cost. equal to average variable cost. QUESTION 4 1 pc If, in the short run, the level of output is zero, which of the following statement is TRUE? Total variable cost is zero but total cost equals total fixed cost, and both of the latter exceed zero. Total cost and total fixed cost graphs...
4. (5 points) Is the following grammar ambiguous? Justify your answer (give a string and derive it with two leftmost derivations using G). If it is ambiguous, rewrite this grammar to an unambiguous one (hint: recall "dangling else" as we discussed in the class)
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11. True. 2.1. 2.2. 2.3. Peter is a plumber. He employs three workers...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (SRATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between SRATC1 and LRATC The orange point on SRATC, indicates the firm's current output level in the short run(Q). SRATC, SRATCE SRATC SRATC, SRATC COST PERUNT OUTPUT...
The following graph shows the short-run average total cost curves and the long-run average total cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average total cost curve (LRATC); for example, Qı marks the point of tangency between ATCi and LRATC The orange point on ATC1 indicates the firm's current output level in the short run (2) ATC, ATCs ATC ATC OUTPUT In the...
Question 2 (10) TRUE FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False 2.6. Monopolistic competition is a market structure characterised by the fact that there is often collusion between the sellers. 2.7. Half-price specials are...
4. H ere are some True/False questions. If your answer is "TRUE", there is no need to justify your answer. If your answer is "FALSE", then you should justity your answer with a counterexample or explanation. There are also some "short-answer" questions. . A. (True-False). Every simple field extension of K is a finite field extension. . B. (True-False). Let R⑥ F be a field extension. Suppose that F is a of u E F, and splitting field for the...
Determine whether each statement is True or False. Justify each answer a. A vector is any element of a vector space. Is this statement true or false? O A. False; a vector space is any element of a vector O B. True by the definition of a vector space O C. False; not all vectors are elements of a vector space. b. If u is a vector in a vector space V, then (-1)u is the same as the negative...
In the short run, average total cost is less than average variable cost. sometimes higher and sometimes lower than average variable cost. higher than average variable cost. equal to average variable cost. QUESTION 4 1 pc If, in the short run, the level of output is zero, which of the following statement is TRUE? Total variable cost is zero but total cost equals total fixed cost, and both of the latter exceed zero. Total cost and total fixed cost graphs...
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