Marginal cost curve is _______  1) Straight line  2) U shaped

Q: Table showing Total Cost and Quantity of Output Quantity of Total Average Total Marginal Cost Output…

A: Average total cost of the total cost per unit of output. Marginal cost is the change in total cost…

Q: Marginal cost intersects average total cost at minimum average total cost. True False

A: The price curve always intersects the typical total cost curve at its lowest point because the…

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Marginal Product of Labor:  The term marginal product of labor shows that how much additonal or…

Q: Why the average fixed cost curve does not touch the output axis ? YA AFC Output Cost

A:

Q: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False

A: "Marginal cost represents change in total costs when one more unit is produced while average total…

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

Q: What is the difference between sunk cost and fixed cost? Explain with examples.

A: Sunk costs and fixed costs are two kinds of expenses borne by a corporation in the different…

Q: marginal cost

A: The marginal cost depicts the additional cost of an extra unit of output produced. As, the level of…

Q: The''Sad Student'' Company finds that it costs a total of (q)=9720+500q-1.5q^(2)+0.005q^(3)…

A: The total cost function (q)=9720+500q-1.5q^(2)+0.005q^(3)  answer d  The constant term in the…

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A: Marginal cost is the cost which occurs due to the production of one more unit of output is called…

Q: Draw average variable cost ,average total cost and marginal cost curve in a single diagram!!!!

A: According to the given question All the average variable cost ,average total cost and the marginal…

Q: .If total cost is increasing, marginal cost is positive. a. True O b. False

A: # Total cost is the sum of variable and fixed cost incurred by a firm.  At the same time, the…

Q: Refer to Figure: The vertical distance ABis Select one: A. total cost. B. marginal cost. C. total…

A: Curve 1 is the Marginal Cost(MC) Curve Curve 2 is the Average Variable Cost(AVC) Curve Curve 3 is…

Q: What is difference between fixed and variable cost in short run? How does this result in the classic…

A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…

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: Why Marginal cost curve is U-shaped?

A: The marginal cost curve illustrates the relationship between the marginal cost and the number of…

Q: Which expression is another way of saying "marginal cost"?                Scarce resources…

A: Marginal cost is the increment in total cost for producing additional units of a commodity. It is…

Q: Discuss the impact of long run on cost of doing business.

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: . The marginal cost curve intersects the average fixed, average variable, and average total cost…

A: Answer to the question is as follows:

Q: The shape of the Total Product curve on the production side gives us the shape of which curve on the…

A: Total product curve represents   the total output of a firm in the short run.

Q: Chapter 11 Production and Costs – Units of Total Marginal Product Total Variable ATC AVC MC Labor…

A: The law of diminishing marginal return that when more and more variables factors are added with…

Q: Discuss the relationship between the three short-run total cost curves. Use a diagram to motivate…

A: Short run is the time period in microeconomics wherein some inputs are fixed while other inputs are…

Q: True or False The slope of the total cost curve is equal to marginal cost, or the change in…

A: Total cost It refers to all the cost or expense that is incur in a production process.It is given by…

Q: BONUS: Explain precisely why in the short run the Marginal Cost curve intersects the Average Cost…

A: Minimal cost (MC) is the additional expense brought about when an additional one unit of output is…

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

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: Government imposes higher tax on tobacco production. Which cost curves will be affected and why of…

A: When the government imposes a higher tax on tobacco production or the output. With this tax…

Q: The government imposes a $1,000 per year licensefee on all pizza restaurants. As a result, which…

A: Costs are the expenses incurred by a firm in the production of its output. In production, there are…

Q: Mention and explain the cost components certainly do not exist in the long run?

A: The cost components include fixed costs and variable costs.  Variable costs are the costs which vary…

Q: 22) The marginal cost curve intersects the ________ at its minimum. A) average variable cost curve…

A: Marginal cost MC gives the change cost due change in production by one unit. Average variable cost…

Q: Why is the short run marginal cost curve U- Shaped?

A:

Q: Hi, I am studying chapter 11 from Microeconomics 21st edition. I am still confused about a certain…

A: The marginal cost curve of a firm cut the average total cost curve at its minimum point. In initial…

Q: "When the total cost of production decrease, we can say that the firm faces positive return to…

A: The firm would result in the production of the various goods and services which would involve the…

Q: example a(n): A. sunk cost B. out-of-pocket cost C. opportunity cost D. incremental cost

A: Marginal cost is the cost that the manufacturer spends to manufacture one more unit of the good. The…

Q: When plotting marginal and average cost curves, the cost curve always crosses the cost curve at its…

A: Average fixed cost (AFC) refers to per unit fixed cost of production.AFC = TFC / QIt is rectangular…

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

A: # In a business if we consider the assets of the firm and its opportunity cost then this is counted…

Q: Short answer Explain the fixed cost and the variable cost with examples

A: In the field of economics, it is assumed that firms work towards maximizing their profits. The firms…

Q: Question 33 Which of the following cost curves does not have a shape that is explained by the law of…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: The concept of marginal cost is best described by which of the following? O Mr. Creosote meets a…

A: Marginal cost refers to those cost that firm incurs when it decides to produce an additional unit of…

Q: The marginal cost curve passes through the minimum point of the average variable cost curve but not…

A: ATC(Average total cost), MC(Marginal cost) and AVC(average variable cost) are U shaped curves. This…

Q: a) What is marginal cost? b) What is average variable cost? c) How much output is being produced?

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The concept of marginal cost is best described by which of the following? Mr. Creosote meets a wafer…

A:

Q: marginal cost curve and average variable cost (AVC) curve related?

A: The Marginal Cost shows the cost incurred on producing an extra unit of output. The Average Variable…

Q: 32. The marginal cost curve is labeled: a L b. I. C. II d IV

A: The Marginal cost curve is a curve which graphically shows the relation between the marginal costs…

Q: Opportunity cost refers to  A) explicit costs+ implicit costs

A: The total amount of money used in producing goods & services and including labor, time and…

Q: Q.4 Marginal Cost is closely relate (a) Total variable cost (b) Total cost (c) Total fixed cost (d)…

A: # marginal cost measures the change taking place in the value of total cost when the quantity…