he marginal cost of driving a mile is $0.33. (Round your response to two decimal places) an deciding whether to drive from Atlanta to Las Vegas (about 2,000 miles round-trip) to visit a friend, which costs would you consider? Why? O A. Fixed costs, because they will not change with total miles driven OB. Variable costs, because they will increase with each mile driven. OC. Average.costs, because they will increase with each mile driven. OD. Fixed costs, because they will increase with each mile driven. Ancwar

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 5CQQ
icon
Related questions
Question
The marginal cost of driving a mile is $0.33. (Round your response to two decimal places)
In deciding whether to drive from Atlanta to Las Vegas (about 2,000 miles round-trip) to visit a friend, which costs would you consider? Why?
OA. Fixed costs, because they will not change with total miles driven.
OB. Variable costs, because they will increase with each mile driven.
OC. Average costs, because they will increase with each mile driven.
O D. Fixed costs, because they will increase with each mile driven.
Click to select your answer and then click Check Answer
Transcribed Image Text:The marginal cost of driving a mile is $0.33. (Round your response to two decimal places) In deciding whether to drive from Atlanta to Las Vegas (about 2,000 miles round-trip) to visit a friend, which costs would you consider? Why? OA. Fixed costs, because they will not change with total miles driven. OB. Variable costs, because they will increase with each mile driven. OC. Average costs, because they will increase with each mile driven. O D. Fixed costs, because they will increase with each mile driven. Click to select your answer and then click Check Answer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cost Curves
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
Economics
ISBN:
9781285635101
Author:
MCEACHERN
Publisher:
Cengage
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Microeconomics
Microeconomics
Economics
ISBN:
9781337617406
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
Economics
ISBN:
9781337794992
Author:
William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:
Cengage Learning