When marginal cost exceeds average total cost, a marginal cost must be rising. b average total cost must be falling. c average total cost must be rising. d average fixed cost must be rising.

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

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

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

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Q: Draw the short run total cost curve (show the total cost, fixed cost, variable cost). Where the…

A: Formulas to be used:TC = VC+FCATC = TC/QAVC = TVC/QAFC = TFC/OMC = TCn - TCn-1

Q: An implicit cost is another name for a(n):     Explicit cost     Production cost     Economic…

A: Option D Implicit cost is a cost to a business that occurs due to the cost of resources that were…

Q: What is the Difference between Fixed Costs, Variable Costs, and Marginal Costs?

A: Fixed cost: Fixed costs are those costs that remain fixed for every unit of output produced. It does…

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: 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: 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: Define Fixed Cost and provide an example.

A: A company's fixed expenses are critical. Profit forecasting and calculating the break-even point are…

Q: Mr  Han  Cook  says  that marginal  cost  is  just  a  funny  name  for  average  total  cost. What…

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

Q: A graph represented by a straight line parallel to the output of the X-AXIS is an image of which…

A: The total cost is the sum of total fixed cost and total variable cost of production. The total fixed…

Q: Define and graph total cost, average costs, and marginal cost.

A: The cost of producing/manufacturing all the units of a good by a firm is estimated by the total…

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: What are Fixed and Variable Costs?

A: Fixed cost: Fixed cost refers to those costs which remain the same throughout the production.…

Q: What happens to marginal cost if a business's average total cost is decreasing? Marginal cost must…

A: Marginal cost (MC) is the change in total cost when one more unit of a good is produced.Average…

Q: Average total cost intersects marginal cost at minimum marginal cost. True False

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Q: When the marginal product of labor increases, marginal cost tends to A) increase. B) decrease. C)…

A: A production function illustrates the relationship between the quantity of inputs used and the…

Q: What are two examples of variable costs?

A: Variable costs depends on the level of output being produced by the firm.

Q: Define total cost, average total cost, and marginal cost.  How are they related?

A: Total Cost (TC) is the cost of production of a good and it includes both the variable cost i.e. 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: Why is the average cost a U shape

A: Cost refers to the amount of money required to produce the goods and services by the various factors…

Q: how do you find the total fixed cost if you don't know total variable cost

A: To determine the TFC of the whole table, we just need to find TFC of any quantity because TFC…

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: find 5 problems related to variable cost, total cost, and marginal cost  and Solve problems.

A: Answer: Introductions: Variable cost: Variable cost refers to the cost of the inputs that vary with…

Q: find 10 problems related to variable cost, total cost, and marginal cost  and Solve problems

A: In this question a hypothesis numerical questions is needed to solve which contains MC , VC TV etc .

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: How do you find total fixed cost?

A: Total cost of production includes all the fixed cost of production and the variable cost of…

Q: when marginal cost is less than average total cost is falling true False

A: Answer (21). True, Explanation: When the marginal cost is less than the average total cost, the…

Q: Explain the relationship between the average cost and the marginal cost?

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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: Diminishing returns A cost function of the form C(x) = 1/2 x2reflects diminishing returns to scale.…

A: According to the question, C(x) = ½ X^2 AV(x) = C(x)/x           = ½ x MC(x) = C’(x)             =x

Q: Define economies of scale and explain why they mightarise

A: Economics of scale are the result of production efficiency. It can be a reason for a larges firms to…

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: Give some examples of the variable costs?

A: Variable Costs(VC) are those costs that varies with the quantity of output produced. If Q is the…

Q: How does fixed cost affect marginal cost? Why is this relationship important?

A: Fixed cost is the cost which does not change with the change in the output. Marginal cost is the…

Q: Construct the average fixed cost, average variable cost, and average total cost schedules and the…

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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: Define explicit cost and implicit cost. Briefly discuss the law of diminishing marginal returns.

A: The costs broadly classified into two parts  I) Explicit Costs II) Implicit Costs

Q: a. Construct a diagram of the cost function, where you have the quantity on the X-axis and the cost…

A: Answer;   PART A QUANTITY(q)  cost(C) Fixed (FC) Variable. (VC) Marginal. cost (MC) Average T.…