36) In the short run, if marginal product is A) above; decreasing B) below; decreasing C) above; increasing D) below; increasing average product, then average variable cost is

Q: A firm's short-run average cost curve is U-shaped. Which of these conclusions can be reached…

A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…

Q: The average fixed cost curve will never Intersect with either the horizontal vertical axis

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which of the following statements best represents a difference between short-run and long-run cost?…

A: In the production function, different inputs are used to produce the final output. Each input has…

Q: Average total cost, average variable cost marginal cost and marginal product b. The relationship…

A: Average Total Cost or Average Cost is the total cost (TC) divided by the number of units produced…

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…

A: The TC (total cost) demonstrates the sum of FC  (fixed cost) and the VC (variable cost). And the MC…

Q: If a store owner increases the size of his store producing more quantities of his product, and…

A:

Q: 1 Average fixed cost equals a. Average total cost minus average variable cost b. Total variable cost…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The marginal cost curve: is a vertical line. generally rises at first and then declines as output…

A: Marginal cost is the cost of producing additional unit of output. The shape of marginal cost depends…

Q: Order the following components of a long run average cost curve as output expands based on which…

A: In the long-run, an average cost curve shows different phases of production when average cost…

Q: ATC B. Output 15. In the above long-run average total cost curve the: A) movement from A to B…

A: Long run average cost curve represents least average cost to produce any given level of output. In…

Q: If Boeing produces 9 jets per month, its long-run total cost is $9.0 million per month. If it…

A: Economics of scale: It refers to the situation when increasing production leads to falling per unit…

Q: Long-run total cost (dollars) Quantity 20 100 40 160 60 180 80 190 The cost data in the above table…

A: Economies of scale are cost advantages that the company enjoys in the form of decrease in average…

Q: Question 4 Marginal product is NOT... Group of answer choices the change in the total product…

A: "Marginal product indicate the change in total output from employing one more unit of input (keeping…

Q: Question 18 The upward sloping portion of a long-run cost curve illustrates: Diminishing marginal…

A:

Q: In the short run, if average variable cost equals $50, average total cost equals $75, and output…

A: The total fixed cost refers to those costs that remain the same regardless of the level of…

Q: When a firm experiences economies of scale in production, a. long-run average total cost declines as…

A: In the long run, firm can change its all factors of production and produce the output where the…

Q: 31. Marginal cost is a Total cost per unit of output b. Average total cost divided by the quantity…

A: 31) Marginal costs are defined as a function of the total cost of production, the costs include both…

Q: 21

A: Short run production function means where only one factor is variable in nature and other factor…

Q: Labor Output Fixed Cost Variable Cost (Number of workers) (Units) (Dollars) |(Dollars) 30 100 30 15…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is the cost that remains same at…

Q: ($/Unit) Marginal Cost Q1 Quantity (Units per time period) A) In the above diagram, marginal cost…

A: There is inverse relationship between marginal cost and marginal product due to applicability of law…

Q: q3- The average total cost curve is increasing when marginal cost is:   Select one: a.…

A: The relationship between ATC and MC is: When the MC curve is above the ATC curve then the ATC…

Q: Explain the following statement by using a graphical analysis: “Shape of the short-run cost curves…

A: The shape of the short-run total cost (TC) curve is cubic and that of the average cost (AC) curve is…

Q: Construct the cost schedule using the data. below for a firm operating in the short run.   Graph…

A: Total cost is the sum of all the cost that incurred by a firm in order to produce output. The…

Q: When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Total variable cost as output increases, and total fixed cost as output increases Select one: A.…

A: The variable cost is the cost that changes when the output changes. This includes labor cost, cost…

Q: Minimum efficient scale for production of a good or service: Select correct one : a) is the point…

A: Answer: option c (is the rate of output at which long-run average costs reach a minimum)…

Q: Total variable cost as output increases, and total fixed cost as output increases. Select one O A.…

A: Total Fixed cost is the cost that is incurred on fixed factors and does not change with the level of…

Q: What is the term for the change in total cost resulting from a one-unit increase in production?…

A: please find the answer below.

Q: Distinguish between/among The short run total fixed cost, total variable cost and total cost.

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: Question 12. A firm's long-run production function is given by q = LK, where L denotes units of…

A: A production function gives the technological relation between quantities of physical inputs and…

Q: The downward-sloping segment of the long-run average cost curve corresponds to *…

A: In production activity, time period under consideration determines the nature of costs faced by the…

Q: 1.  Marginal cost is calculated for a particular increase

A: We have found what is marginal cost.

Q: rue or false 1-The marginal cost curve intersects the minimum point of both the average total cost…

A: Marginal cost refers to the additional cost that incurred due to increasing one more unit of output.

Q: Given the marginal product curve, maximization occurs where  a.average product is at maximum…

A: The marginal product  is the additional output created as a result of additional input placed into…

Q: Marginal cost can be calculated both from total cost and total variable cost and is not affected by…

A: According to the given question The marginal cost is basically or initially considered as the slope…

Q: If a firm experiences economies of scale over all relevant levels of output, its long-run average…

A: A production function illustrates the relationship between the inputs used and the output produced…

Q: Q1. In the theory of production, diminishing marginal returns to labour holds in the short run…

A: Since you asked multiple questions, we will solve the first question for you. If you want any…

Q: . The marginal cost when output = 10 is equal to a. the slope of a line drawn tangent to the total…

A: # Marginal cost is the total cost per unit of output. The formula for marginal cost is:- MC = TC / Q…

Q: A downward-sloping portion of a long-run average total cost curve is the result of a.the existence…

A: The total cost is the sum of fixed cost and variable cost in the production process. When the total…

Q: Marginal cost _1. The additional cost from an additional unit of output produced. Production…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…