Q: Why the average cost curve is a U shaped curve?
A: # The total cost per unit of output is reffered to be as the average costs.
Q: What are the average total cost, average variable cost, average fixed cost, and marginal cost of…
A: Q=4 TC=140 TFC=50 ∆TC=140-110 =30 ∆Q =4-3 =1
Q: How does a cost behave in response to a change in activity? Give an example?
A: Cost also changes with the change in the activity. There are two types of costs- fixed costs and…
Q: How can we predict cost behavior?
A: Cost behaviour shows the relation between the total cost and activities level. We can predict the…
Q: Which of the following costs will not change as output changes? 1. A marginal cost 2. B. total…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: What is a average total cost? : What is a Marginal cost?
A: The average total cost is the total cost per unit of output. It is calculated by dividing the total…
Q: What is the Difference between Fixed Costs, Variable Costs, and Marginal Costs?
A: Fixed cost: Fixed costs are those costs that remain fixed for every unit of output produced. It does…
Q: What is the relationship between marginal product and marginal cost?
A: The firms, and businesses tend to operate in the markets, where they supply various goods, and…
Q: What is Cost Analysis?
A: The correct answer is given in the second step.
Q: how is the slope of the total cost and marginal cost related?
A:
Q: What is marginal cost? Fixed cost?
A: Costs refer to the expenditures which are incurred by the firms in order to purchase various factors…
Q: What are Fixed Costs?
A: A company mainly faces two type of costs known as fixed cost and variable cost. These two costs are…
Q: Describe marginal cost in your own words.
A: Cost accounting is a method of financial management that examines a business's variable and fixed…
Q: Define Fixed Cost and provide an example.
A: A company's fixed expenses are critical. Profit forecasting and calculating the break-even point are…
Q: Show me how to arrive at Average Variable Cost?
A: Total variable cost varies with the level of production.
Q: Solve the attahment.
A: There are different concepts of costs in the production process such as total cost, marginal cost,…
Q: Define and graph total cost, average costs, and marginal cost.
A: The cost of producing/manufacturing all the units of a good by a firm is estimated by the total…
Q: What are Fixed and Variable Costs?
A: Fixed cost: Fixed cost refers to those costs which remain the same throughout the production.…
Q: What are a total variable cost and average variable cost?
A: Total Variable costs are those costs that change when the input changes. For example-wages, when…
Q: Marginal cost curve always cuts the lowest point of the average total cost curve. Do you agree?…
A: Marginal Cost:Marginal cost refers to the additional cost of producing the additional unit of…
Q: What is the typical shape of the average fixed cost curve, Why is it shaped this way. Graphically…
A: Average Fixed Cost (AFC) is the cost that must be incurred in fixed quantity regardless of the level…
Q: Why is the average cost a U shape
A: Cost refers to the amount of money required to produce the goods and services by the various factors…
Q: find 5 problems related to variable cost, total cost, and marginal cost and Solve problems.
A: Answer: Introductions: Variable cost: Variable cost refers to the cost of the inputs that vary with…
Q: If the marginal cost equals average cost, we are at the _____ point of the ____ curve.
A: Marginal cost is that cost which is incurred because of producing one additional unit of the output,…
Q: Which average cost curves are U-shaped?
A:
Q: How do you find total fixed cost?
A: Total cost of production includes all the fixed cost of production and the variable cost of…
Q: If the marginal cost of production is greater than the average cost, in what direction must the…
A: If marginal cost is higher than average cost it means the slope of average cost will be higher than…
Q: What is the relationship between marginal cost (MC) curves and average cost (AC) curves?
A: The expense that is being incurred in order to reach a specific level of output is known as the…
Q: Explain the relationship between total, marginal and average cost
A: The total cost is the summation of total variable cost and the total fixed cost that a firm incurs.…
Q: What is the relationship between marginal product and marginal cost? Why do you suppose that is? Is…
A: Marginal Product: The term marginal product refers to the increase in total product due to the use…
Q: How would you derive marginal cost from total cost?
A: Marginal cost is defined as the cost which is incurred by the producer in order to produce one more…
Q: Give an quantitative example of marginal and average cost.
A: Average cost is the equivalent of total fixed cost (TFC) and total variable costs (TVC) divided by…
Q: Give some examples of the variable costs?
A: Variable Costs(VC) are those costs that varies with the quantity of output produced. If Q is the…
Q: How does fixed cost affect marginal cost? Why is this relationship important?
A: Fixed cost is the cost which does not change with the change in the output. Marginal cost is the…
Q: What is theoretical relationship between Marginal Cost and Average cost
A: Costs refer to the amount of money that the firms need to give up in order to perform certain…
Q: With appropriate examples explain how marginal cost is related only to total variable cost.
A: Cost Cost refers to the actual expenditure on inputs (i.e. explicit cost) and the imputed value of…
Q: Illustrate and briefly explain the relationship between Marginal cost and average cost curves
A: The markets are the place where the buyers and the sellers of goods and services tend to interact…
Q: If the marginal cost is increasing, do you know whether average variable cost is increasing or…
A: Marginal cost is U shaped and average variable cost is also U shaped.
Q: Explain the difference between fixed cost and the variable cost in economics.
A: In economics, cost refers to all the expense that has been incurred in order to produce goods and…
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- marginal principe a)Derive the equal marginal principle. (i)What dose it state?(ii) can you generalize the principal? Show it for n commodities wher n = 1,2,....nTable 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. What is the value of M? a. $50 b. $140 c. $360 d. $410Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.