The additional cost of producing one more unit of output is called Variable cost. b. Total cost. C. Average cost d. Marginal cost

Q: If marginal cost is above average variable cost, then Select one A average variable cost is constant…

A: Marginal Cost (MC) is the change in total cost for an additional unit of output produced. Average…

Q: Quantity Average Fixed Cost Average Total Cost 1 140 2 75 3 60 4 55 5 54 6 20 60 Short run…

A: Diminishing returns to production starts where marginal cost increases with an increase in output,…

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: 1. Show and explain the relationship between total cost, marginal cost and average variable cost

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Q: Total cost divided by quantity of outout is Select one: a average variable cost b. average total…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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

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Q: When marginal cost is greater than average variable cost, average variable cost i v (Click for List)…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: 7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost;…

A: We have given the data for fixed cost and variable cost for the output level from 0 to 7 Q FC VC…

Q: Question : Imagine a small juice shop that only fresh fruit juice. i) Discuss the concept of…

A: i) Discuss the concept of marginal cost and average total cost using the given situation. Answer:…

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: The cost for producing 0 units would be the fixed cost. Cost incurred irrespective of number of…

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

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Q: DEFINE AND EXPLAIN PRODUCTION IN SHORT RUN

A: In the production process, different inputs are used to produce the final output. Each input has its…

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

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Q: Use the following information to answer the question Quantity (number ofFixed Variable Total…

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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: Fertilizer Q TFC TVC TC MC ATC AVC AFC TR MR 25 70 1300                   100…

A: The formula used to calculate different costs are : TC = TFC + TVCAFC = TFCQAVC = TVCQATC = AFC +…

Q: marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to…

A: The total average cost is defined as the aggregate of all costs of production at a given level of…

Q: Problem 2, From the data given below, calculate: O Average fixed cost, (ii) Average variable cost,…

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Q: When marginal product increases, marginal cost increases. True False

A: Marginal product is the additional output produced by the additional worker or the change in the…

Q: A. Graph total fixed cost, total variable cost and total cost B. Explain how the law of diminishing…

A: Answer A. TVC + TFC = TC Both TC and TVC run in concurrently. The x-axis of TFC is parallel. At zero…

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: ben diseconomies of scale occur: A the long-run average total cost curve B. marginal cost intersects…

A: Firm produces final goods and services using the factors of production which are broadly divided…

Q: Quick Check Multiple Choice No (3) A firm is producing 1,000 units at a total cost of $5,000. If it…

A: Marginal cost refers to the additional cost of producing an extra unit of output. Average variable…

Q: As total output increases average fixed cost v (Click for List) constant at a maximum falling rising…

A: Variable costs refers to those costs which depends upon the level of output. These costs increases…

Q: Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a…

A: As we answer 3 subparts and the question has more than 3 subparts, we would be answering the first 3…

Q: .The output at which average product is a maximum is the same output at which is a minimum اختر أحد…

A: Total physical output or total product divided by the quantity of input employed gives the average…

Q: Use the following information to answer the question Quantity (number ofFixed Variable Total Margina…

A: Cost refers to all the expenditure and expenses that incur in a production process of goods and…

Q: In the short run, if marginal product is at its maximum, then A) average cost is at its minimum B)…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: Total fixed cost (TFC): - it is the cost incurred on the fixed capital assets like land, building,…

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: (c) The cost function of a firm is given below: पतंजलि 4 Output Total Cost () 1 60 80 100 111 116…

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Q: Farmer McDonald gives banjo lessons for $20 an hour. One day, he spends 10 hours planting $100 worth…

A: Accounting profit is the difference between total revenues and explicit costs where explicit costs…

Q: QUESTION 10 Table 13-5 The Flying Elvis Copter Rides Quantity Total Cost 10 1 $50 $150 G M Fixed…

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Q: Total Cost Fixed Cost Variable Marginal Cost Average Fixed Cost Average Variable Cost Average Total…

A: Total cost = Fixed cost + variable cost  Also Fixed cost are same at every level of output.

Q: 3. Marginal cost a. Is below average total cost in the range where average total cost is rising b.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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

A: Ans.  Quantity (number of units) Fixed costs       ($) Variable Costs           ($) Total…

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: marginal cost (MC) and average total cost (ATC) f

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

Q: When marginal cost equals average toal cost, average total cost, (Click for List) rising at a…

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

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

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Q: How profit is different from the incorporating normal profit and when the normal profit is into…

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Q: 2. Find the volumes over which each site for making a product is the lowest cost. Site Fixed…

A: Given: Site Fixed Variable 1 20000 18 2 10000 23 3 32000 166 4 35000 20

Q: Explain the production in short run?

A: Microeconomics studies the economic behavior of individual units such as a consumer, a producer, a…

Q: 8. Which one of the following cost can never become zero? (A) (B) (C) (D) Average cost Fixed cost…

A: Answer according to the given question Option(B) is correct that it is the fixed cost which cannot…

Q: OUTPUT TOTAL COST 40 1 49 57 64 4 70 77 6. 85 : The TVC of producing 4 units of output is : The AFC…

A: "The total variable cost represented by TVC indicates the total of all the variable costs of inputs…

Q: The difference between economic profit and accounting profit is?   Average cost Direct costs…

A: Cost is the expenditure incurred by firms on the production of goods and services. The cost can be…

Q: (1) Quantity of Output, Q (units) (3) (5) (2) Total Fixed Cost (S) Averoge Fixed Cost Average Total…

A: Costs are the expenses firms incur in the production of goods and services.