When plotting marginal and average cost curves, the cost curve always crosses the cost curve at its Select one: a. average fixed; marginal; minimum b. marginal; average variable; maximum c marginal; average total; minimum d. average variable; marginal; maximum

Q: How and why does a firm’s average-total cost curve differ in the short run compared with the long…

A: In the long run, a firm adjusts the different factors of production that are fixed in comparison in…

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 the following table, complete the marginal cost, average variable cost, and average total cost…

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

Q: The marginal cost curve intersects the average total cost curve at the level of output where average…

A: Marginal Cost (MC): Marginal cost occurs when producing an extra unit of output. Average total cost…

Q: the long run average total cost curve's minimum intersects what on the short run cost curve?

A: The long run average total cost curve's minimum intersects with the minimum of short run average…

Q: Explain why the marginal cost curve intersects a U-shaped average cost curve at its minimum point.

A: Marginal cost (MC): - it is the additional cost incurred due to the production of additional units…

Q: What explains why the long run average cost curve is u-shaped

A: First of all average cost fall in the beginning because the factor of production or the capital used…

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: how is the slope of the total cost and marginal cost related?

A:

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

A: The cost of producing a firm's output depends on the number of labor and physical capital which are…

Q: Graph the following: The Average Total Cost curve and Average Variable Cost curve must not touch (in…

A: The figure mention below represents the different cost curves and levels of output produced in a…

Q: How are the marginal cost curve and average variable cost (AVC) curve related? Explain why the AVC…

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

Q: Suppose that a small family farm sold its output for $100,000 in a given year. The family spent…

A: Given: Fuel=$25000 seed, fertilizer, and pesticides=$40000 Equipment=$25000 Other occupations=$20000

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

A: Answer to the question is as follows:

Q: Solve the attahment.

A: There are different concepts of costs in the production process such as total cost, marginal cost,…

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: Graph the following:  The Marginal Cost Curve crosses the Average Total Cost curve and Average…

A: The figure illustrates the MC, ATC and AVC.

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: Graph the following: The Average Total Cost curve and Average Variable Cost curve must not touch…

A: 1. The Average Total Cost (ATC) curve and Average Variable Cost (AVC) curve are shown in the graph…

Q: Austin's total fixed cost (TFC) is $350/month at his cupcake bakery.  Austin employs 10 workers and…

A: The amount of output produced determines the fluctuation in variable costs. Labor costs are one type…

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: 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: What will happen to the average total cost if the average variable cost is falling? a. Rises B.…

A: The average Total cost if the the average variable cost is falling is also falling.

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: 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: 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: n the following questions take Q as 10. . Name the curves in the diagram. A B C . What is the amount…

A: Since you have asked multiple questions, we will answer only the first question for you. If you have…

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: Which average cost curves are U-shaped?

A:

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: Which of the following statements regarding marginal analysis is​ true?     A. If total cost…

A: To sum up, marginal analysis is described as the cost of identifying the level of output at an…

Q: a. Fill in the blanks for the table given below by calculating the average variable cost, average…

A: Average variable costs Average variable costs are found by dividing total fixed variable costs by…

Q: Šuppose that a producer is faced with input combinations that yield 500 units. Assume that capital…

A: Optimal input combination is where Isocost line is tangent to Isoquant curve.

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: Show the relationship between short-run marginal and average cost curves, and long-run marginal and…

A: In the short run there are two types of costs:- fixed costs and variable costs. In the short run…

Q: how do you find total fixed cost?

A: Sellers must incur costs while producing goods and services by making a variety of factor payments…

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: How would each of the following affect average total cost, average variable cost, and marginal cost?…

A: GIVEN  How would each of the following affect average total cost, average variable cost, and…

Q: Explain the concept of economies and diseconomies of scale and briefly state their effects on the…

A: Economies of scale and diseconomies of scale occur during the production of goods and services.…

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.