1a. Marginal cost is equal to the change in: A. variable cost divided by the change...
1a. Marginal cost is equal to the change in:
A. variable cost divided by the change in total output.
B. average total cost divided by the change in total output.
C. fixed cost divided by the change in total output.
D. average variable cost divided by the change in total output.
(Figure: Determining Industry Cost Characteristics) Short-run
and long-run supply curves with short-run market equilibrium at
points A and B are shown in the graph. We can
conclude that the industry in the graph is a(n):
A. decreasing cost industry.
B. increasing cost industry.
C. market in long-term disequilibrium.
D. constant cost industry.
Homework Answers
Ans) the correct option is A. variable cost divided by the change in total output
Ans) the correct option is D. constant cost industry.
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