Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant) 1 When marginal cost is less than average variable cost, average variable cost is:

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A: Cost is the sum of fixed cost and variable cost

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Q: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…

A:

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

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Q: Solve the attachment.

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Q: QUESTION 4 Match each of the following terms and descriptions Average Fixed Cost Average Total Cost…

A: Providinf full. Solution.

Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis. There…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: If marginal cost is greater than average total cost, then average total cost must be increasing.…

A: The marginal cost curve is downward sloping when it is below ATC. At the same time ATC is also…

Q: Diseconomies of scale exists over the range of output for which the long run average cost curve is?

A: Diseconomies of scale exists over the range of output for which the long run average cost curve is…

Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…

A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.

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A: The total cost of any firm includes its fixed costs and its variable costs that occurred during…

Q: Which of the following must be falling when the short run marginal cost is less than it, and rising…

A: Total Cost is the sum of the Total Variable Cost and Total Fixed cost of any firm. Total Fixed is…

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A: The marginal cost refers to the additional cost incurred on production of an additional unit of…

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…

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Q: Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output…

A: Given,  ATC = $60 AFC = $25   MC = $45 Output = 300.

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: When output increases from 20 to 30 units the total cost increases from $500 to $600. Assuming the…

A: Average Total Cost (AC): - it is the average value of total cost by producing a specific unites of…

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Q: In the table, the average variable cost at 2 units of output is

A: Answer to the question is as follows :

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: Which of the following statement is correct? a. Marginal cost will equal average total cost when…

A: Let's first understand what's the meaning of marginal cost. The cost which is incurred on the…

Q: Which of the following is not a fixed cost?

A: Fixed cost refers to a cost that does not change with an increase or decrease in the number of goods…

Q: Average cost is defined as a. total cost divided by marginal cost. b. total cost divided by total…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.

Q: What is the average variable cost of producing 400 units of output?

A: Answer: Given that:      Labor  Output   Marginal Cost  Variable Cost  Fixed Cost  0  0    0  5…

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

A: We have found what is marginal cost.

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Q: Identify a variable cost

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A: Note : Since the question has multiple sub parts , only the first three sub parts shall be answered…

Q: Average variable cost and average total cost get closer as output increases because a) productivity…

A: ATC = AVC + AFC So, AFC = ATC - AVC (= distance between ATC and AVC curves) Also, AFC = TFC / Q As Q…

Q: A firm is producing 20 units with an average total cost of $25 and a marginal cost of$15. If it were…

A: Average cost or ATC refers to the average cost of production of each unit. It is calculated as the…

Q: The additional cost of producing one more unit of output is called Variable cost. b. Total cost. C.…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Referring to the cost table above, what is the Marginal Cost of increasing quantity produced from…

A: TC = Total cost  that is related to production. It is the sum of Fixed cost and Variable cost. TC =…

Q: an interest payment on a loan to a firm is an explicit or implicit cost?

A: The implicit cost is an indirect cost defined as the opportunity cost of utilizing a firm's…

Q: If marginal cost is less than the average variable cost and output increases, average total cost…

A: Total cost is the sum of total variable cost and total fixed cost. Total variable cost changes with…