What happens to marginal cost if a business's average total cost is decreasing? Marginal cost must be higher than total cost. Marginal cost must be higher than average total cost. Marginal cost must be lower than average total cost. Marginal cost must be lower than total cost.

Q: The total cost of production equals Select one: a. average total cost + average variable cost b.…

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

Q: Which of the following costs will not change as output changes? 1. A marginal cost 2. B. total…

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

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: 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: 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: Total fixed costs (dollars) Total variable cost (dollars) Total cost (dollars) 0 0 200 ​ ​ 1 20 ​…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost does not depend on output. It…

Q: Which of the following is true of fixed costs?   a. Fixed costs can be changed, but it is…

A: Fixed costs are those that do not change with changes in the output level produced. They are the…

Q: Explain why the fixed cost has no influence at all on marginal cost.

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total variable…

Q: Calculate the Marginal Cost at Q 200? Calculate the Marginal Cost at Q 300? Calculate the Average…

A: the marginal cost is the change in the total cost that arises when the quantity produced is…

Q: Ontario is removing vehicle license renewal fees (article below). How does this affect the cost of…

A: Understanding the impact of eliminating licence renewal fees on automobile ownership costs is the…

Q: Marginal cost is the:  rate of change in total fixed cost that results from producing one more unit…

A: Marginal cost by definition is the cost incurred for producing an extra unit of the good or…

Q: When the marginal product of labor diminishes average fixed cost rises average variable cost is…

A: Marginal product of labor is the additional output produced by employing an additional unit of…

Q: In the short run marginal cost crosses average total cost at the minimum of average total cost True…

A: According to the given question Simply a Short run period is that period in which the other factors…

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: What is the difference between production in the short run and production in the long run? Explain…

A: The short-run is a notion that states that at least one input is fixed while the others are variable…

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

A: Answer to the question is as follows:

Q: In the long run, the long-run average cost curve whereas in the very long run, the long-run average…

A: There are four production time periods in microeconomics, they are very short run, short run, long…

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: Fixed costs can be defined as costs that

A: A fixed cost(FC) is the cost that does not change with the decrease or increase in the number of…

Q: Total cost divided by quantity of output 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: 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: 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: State two examples of the fixed cost and two examples of the variable cost in economics

A: According to the given question Fixed cost are those cost in economics which are basically and…

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

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: The long run average total cost curve is tangent to an infinite number of short run _______ cost…

A: The long-run average total cost (LATC) curve of a firm demonstrates the minimum or the least average…

Q: The marginal cost curve intersects the short-run average total cost curve where: A. average…

A: Marginal Cost is the cost incurred for producing an additional unit of output.  Marginal Cost =…

Q: In the short run, which of the following costs will not change as output changes? marginal cost.…

A: The short run is a period of time in which at least one factor of production (input) is fixed, while…

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

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

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: If marginal cost is less than average cost, average cost must fall when more units are produced.…

A: The marginal cost is change in total output when one additional unit of input is used.

Q: Cost curves in the long run differ from cost curves in the short run.   This is true right.

A: YES the statement that "Cost curves in the long run differ from the cost curves in the short run" is…

Q: Calculate Marginal cost when the total cost changes from 15 to 45 and the quantity changes from 10…

A: # Marginal cost measures the change in total cost when the quantity changes.  MC = change in TC /…

Q: Comment on the following statement: "Average cost includes both fixed and variable costs, whereas…

A: Average Cost= Total Cost/Output Total Cost=Total Fixed Cost+Total Variable cost Marginal cost=Change…

Q: Which type of cost does depend on a firm's output? 1.marginal cost 2.total cost 3.variable cost…

A: Total Cost: The sum of variable costs and fixed cost is termed as the total cost. Total Cost =…

Q: Refer to the table below. How will the marginal cost curve look like if you draw it? Units of…

A: MC = change in TC / change in units With MC remains constant with increase in output, MC curve is…

Q: What are different types of costs involved in production of goods and services? Analyze the…

A: Fixed expenses, variable costs, and the total cost of production make up the cost of production. The…

Q: If the marginal cost is increasing, do you know whether average variable cost is increasing or…

A: Marginal cost is U shaped and average variable cost is also U shaped.