Graphically, the marginal cost curve and the average total cost curve intersect where average total cost is minimized marginal cost is minimized fixed cost is minimized average total cost is maximized

Q: A food truck gyro vendor has weekly fixed costs of ​$550​, and variable costs of $4.55 for each gyro…

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

Q: The cost, in thousands of dollars, of airing x television commercials during a sports event is given…

A: Marginal cost, C'(x) = change in total cost / change in quantity = δ(C)δx

Q: Calculate average cost when total cost is 300 and quantity is 15

A: # The average of the total cost which we spend on a single good is given by the average cost.…

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

A:

Q: The statements and equations show various ways of defining average variable cost, marginal cost, and…

A: Average Variable cost refers to the variable cost per unit. It can be calculated as follows: In…

Q: Find total fixed cost if average fixed cost is $30 and output is 11

A: The information being given is:- Average fixed cost = $30  Output = 11 units  We have to calculate…

Q: Graphically show the relationship between the average total cost, variable cost and marginal cost…

A: Below are the formulas: AVC=TVCQATC=TCQMC=TCn-TCn-1 Where, AVC = Average variable cost TVC= Total…

Q: Average total cost is equal to:

A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost…

Q: Which of the following is always downward-sloping? a. The marginal cost curve when it is below the…

A: The firms, producers, and sellers are considered to one of the major players in the markets. The…

Q: The MC curve must be * rising when TC is rising. less than AFC when the average cost is rising.…

A: Every production unit incurs certain amount of costs during production processes. These costs are…

Q: Which of the following relationship is correct? When marginal cost (MC) starts to increase; average…

A: MC is the slope of TC(total cost). ATC is the per unit cost of product obtained by the ratio of TC…

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

A: Given, Marginal cost (MC) = 4x+150 Fixed cost (FC) = $600 Here MC = dCdX

Q: Which of the following is always downward-sloping?  a. The marginal cost curve when it is below the…

A: Marginal cost refers to change in total cost with respect to change in output. Average total cost…

Q: The minimum average cost occurs when the average cost is equal to the marginal cost.

A: The total cost incurred by a firm includes fixed cost and variable cost. Fixed costs are the costs…

Q: Graphically show the relationship between the Avg. Variable Cost, Avg. Total Cost, and Marginal Cost…

A: Below is the formula: AVC = TVCQATC = TCQMC = TCn - TCn-1

Q: Cost is in dollars and x is the number of units. Find the marginal cost function MC for the given…

A: Given, C(x) = 700 + 5x + 0.04x2

Q: The cost curve for producing widgets passes through the following points and is piecewise linear in…

A: Given Information: Units produced Costs 0 $600 200 $1200 400 $1600 600 $1800 The fixed…

Q: When there are fixed costs and a constant marginal cost a. The average fixed cost function is…

A: The fixed cost does not change with change in the output level. The variable cost changes with…

Q: QUESTION 3 Match each of the following terms and descriptions Fixed Cost Total Cost A. fixed cost…

A: Fixed cost is that cost which are not changed as output changed its remains constant. That means if…

Q: The marginal cost curve intersects the minimum point of both the average total cost curve and the…

A: The following are the definitions of the terms asked in the above questions. The marginal cost is…

Q: Differences between implicit cost and explicit cost

A: Explicit costs are defined as those costs which leads to an outlay of cash from the business. It is…

Q: Graphs must display The Marginal Cost Curve is shaped like a Nike swoosh. The Marginal Cost Curve…

A: 1. The marginal cost is the cost that is caused to the firm through the increased production of the…

Q: Consider the following Total Cost function TC= 20 + 0.5 Q Assume Q = 10 How much the Average Total…

A: Average total cost is the aggregate of all cost that the firm incur to produce a batch of product…

Q: Is it true or not that the marginal cost  C′(x) is equal to the average cost at the critical points…

A: Average cost is the cost of making a single product calculated by dividing the Total cost by the…

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: Average Variable Cost is

A: Average Variable Cost is the Variable cost per unit or total variable cost by the output.

Q: The economies-of-scale curve is a long-run average cost curve, because       it allows all factors…

A: Basics:- Short run:- It is a period of time in which fixed cost remains constant because all factors…

Q: When marginal cost exceeds average total cost, a marginal cost must be rising. b average total cost…

A: MC(marginal cost) & ATC(average total cost) are both U-shaped curves and MC cuts/intersects ATC…

Q: Suppose that cost function is C(Q) = mQ 2 + nQ + p. Find the point that average cost function A(Q)…

A: Average cost=total cost/quantity

Q: At quantities less than the long-run minimum cost per unit of output, the long run average total…

A: At quantities less than the long-run minimum cost per unit of output that is quantities less than Q…

Q: Assume the following total cost function: Q Total Cost $75 1 105 2 128 What is the average fixed…

A: Average Fixed Cost (AFC): It is per unit fixed cost. It continuously decreases because the same…

Q: Provide a diagram that illustrates, for the short-run analysis, the average cost function, the…

A: The firms, and businesses operate with the motive of enhancing their profits, and minimizing their…

Q: is it true that the marginal cost curve intersects the average variable cost curve at the break-even…

A: Marginal cost: It is the cost that is incurred by the firm to produce one extra unit. Average…

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: 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: In Figure 2-a, the average variable cost curve is curve Group of answer choices A D C B

A: Total cost is a sum of fixed cost and variable cost.

Q: Economies of scale are of two kinds

A: With an increase in the production of output, the firm will enjoy a cost advantage, this is known as…

Q: Which of the following statements is true? Group of answer choices If the marginal product of labor…

A: According to the law of diminishing returns as more units of the variable input labor is used with a…

Q: Which of the following relationship is correct? When marginal product (MP) starts to increase;…

A: MP is the marginal product which is the additional product produced with an additional unit of…

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: 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: Marginal cost equals None of the above are correct. total cost divided by quantity of output…

A: Marginal cost: The cost that is incurred on the production of an additional unit of output is…

Q: The vertical distance between the average total cost curve and the average variable cost curve: (a)…

A: Cost of production are the amount of dollars incurred by the business company on its commodities and…