Fixed costs of production in the short run: a. Are low in proportion to variable costs in the short run b. Increase as the firm produces more output C. Are a function of the level of variable costs d. Cannot be reduced by producing less output

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A: The diminishing return means the marginal cost should increase as the output increases.

Q: If a firm doubles all of its inputs and output more than doubles (e.g. goes from 100 to 225), then…

A: Answer- There are increasing returns to scale.

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Q: Q38 A firm's short-run marginal costs are decreasing if... a. Marginal product is decreasing. b.…

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Q: Question 7 Short run costs A firm's short-run cost function is C(q) = 10q - 12q? +0.5q+ 400 1. Find…

A: Here, a firm's short-run cost function is given as: C(q)=10q-12q2+0.5q3+400

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A: Wages (W) is given as $3.Labor (L) is 1.Output (Q) is 6 units.

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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: Question attahed in image

A: A firm incurs two types of cost, fixed cost and variable cost. A firm’s total fixed cost is a cost…

Q: Exercise No. 5 Production and Costs Course & Section: Name: IDENTIFICATION Marginal cost output…

A: IDENTIFICATION    Marginal cost   1. The additional cost from an additional unit of output produced.…