Which of the following statements is false? O The total fixed cost curve has the same slope as the total variable cost curve. O The total variable cost curve intersects the vertical axis at the origin. O The total cost curve crosses the vertical axis at the point where the total fixed cost curve intersects the vertical axis. O The vertical distance between the total variable cost curve and the total cost curve is equal to the total fixed costs.

Q: The average fixed cost curve will never Intersect with either the horizontal vertical axis

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Refer to Figure 13-4. Curve A represents which type of cost curve? O marginal cost O average total…

A: The curve A is negatively sloped. It is continuously falling and never rises. Curve A is relatively…

Q: Refer to the graph shown. This set of cost curves Is: MC ATC B AVC Output Multiple Cholce O wrong…

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

Q: Which of the following statements is (are) correct? (x) If marginal cost is less than average total…

A: Average total cost refers to total cost per unit of output. Average total cost is the sum of average…

Q: Which of the following is true?

A: The long-run average cost curve represents the least average cost to produce any given level of…

Q: If a store owner increases the size of his store producing more quantities of his product, and…

A:

Q: Which of the following are true (check all that apply) Note: IRTS=increasing returns to scale,…

A: Cobb-Douglas production function represents the relationship between the inputs used and the total…

Q: Which of the following is true at the output level where average total cost is at its minimum? OA…

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

Q: Which of the following statements is entirely correct? OBoth economies of scale and diminishing…

A: Economics of scale refers to impact on the total output if all the input factors are changed. While…

Q: Which of the following statements is true? a. If the marginal cost curve is above the AFC curve, the…

A: The AFC curve continues to fall with rise in output. The AFC curve is in decreasing shape. Average…

Q: The long run is best defined as a time period O during which at least one input cannot be changed. O…

A: Some factors of production vary with the output produced in the short run, while some remains…

Q: Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost…

A: In case of short-run average cost functions, the firm incurs two types of costs:-Fixed costs and…

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: Illustrate and explain the following concept: Least cost factor combination using isoquant curve…

A: A firm produces a particular quantity of a good or service at each of the alternative factor…

Q: Marginal cost is equal to the change in average variable cost divided by the change in total output…

A: Total cost is the sum of fixed cost and variable cost. Variable cost increases with increase in…

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: average total cost is increasing as output increase, then marginal cost must be average total cost.…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: Which of the following is true at the output level where average total cost is at its minimum? OA.…

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

Q: Which of the following relationship is correct? O When marginal product (MP)starts to decrease,…

A: MP is the additional change in total output due to produce of one additional unit of output  MC is…

Q: Explain the general shape of the long run cost curves in relation to economies and diseconomies of…

A: The shape of long run cost curve changes depending on the returns to scale.

Q: Suppose, inputs input prices do not change. If a given firm decides to double all its inputs, as a…

A: In a market, a firm uses input resources to generate output and the returns from input changes with…

Q: Cost LRAC A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run…

A: We have to find Long run average cost curve.

Q: When diseconomies of scale occur: O A. the long-run average total cost curve O B. marginal cost…

A: The short-run refers to the time period when at least one factor of production of the firm is fixed…

Q: Which of the following statements is NOT correct? O The long-run total cost curve is the lower…

A: Marginal rate of technical substitution is the rate at which input factor labour and capital is…

Q: Which of the following best describes economies of scale? O They refer to the increase in output…

A: In the short run atleast one input is fixed and in the long run all inputs are variable.

Q: The upward sloping portion of a long-run average cost curve illustrates diseconomies of scale.…

A: Economies of scale refer to the production gets cheaper when more and more units are produced (up to…

Q: one input and derive the short-run cost function. Show that long-run average and marginal cost are…

A: The Cobb-Douglas production function depends on the observational investigation of the American…

Q: What is average fixed cost? O the price of a fixed factor of production the total cost divided by…

A: please find the answer below.

Q: which of the following reflects the correct rleationship between average total cost(ATC) and…

A: Average Total Cost The average total cost or average cost is the cost per unit of both fixed and…

Q: Which of the following statements are true according to the previous graph? Check all that apply. O…

A:

Q: The average fixed cost curve continually declines (as output rises) because: O Total variable cost…

A: Because total fixed cost is constant as output rises,therefore average fixed cost continually…

Q: In a short-run production process for computer software, the average total cost (ATC) is increasing…

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

Q: When there are fixed costs and a constant marginal cost O a. The average variable cost function is…

A: The cost function shows the relationship between cost and output.

Q: Find the attached file.

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

Q: Which of the following statements is true? * If average product equals marginal product, average…

A: Average product is regarded as per unit product of variable factor, for example, labor. When the…

Q: AVERAGE TOTAL COST (Dollars per bike) 640 560 480 400 320 240 160 80 0 0 100 200 300 400 QUANTITY…

A: Short-run is such a period in which at least one of the factors of production is fixed whereas the…

Q: Which of the following does not change with the level of output? O Total fixed cost O Marginal cost…

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

Q: Check the following production functions if they meet (i) out increasing L and K, (ii) diminishing…

A:

Q: When the current amount of fixed cost minimizes the long-run ATC for the quantity of output being…

A: Basics:- As it is shown that long run ATC curve is formed by many short run ATC curves where minimum…

Q: Marginal cost, average total cost and average variable cost Marginal cost and average total cost are…

A: a) No, Marginal cost, average total cost and average variable cost are not always equal. There exist…

Q: What does the long run average cost curve exhibit? It defines the least cost per unit of output when…

A: Answer: The long-run average cost (LRAC) curve shows the lowest cost per unit of output produced…

Q: Which one of the following statement is true about slope of fixed cost: Select one: O a. Slope of…

A: Slope implies that a change of unit in x being the independent variable would in turn result in a…

Q: 5. At its minimum point, the average total cost curve is intersected by the average variable cost…

A: 5) ATC or average total cost is the sum of average variable cost and average fixed cost. The fixed…

Q: Which of the following statements about average and marginal cost is INCORRECT? (2) (1) The marginal…

A: MARGINAL COST CURVE: A graph that shows the relationship between a firm's marginal cost in the…

Q: The shape of the long-run average cost curve is primarily due to: O economies and diseconomies of…

A: Long run average total cost is the per unit cost of production in the long run. It is the ratio of…

Q: . The marginal cost when output = 10 is equal to a. the slope of a line drawn tangent to the total…

A: # Marginal cost is the total cost per unit of output. The formula for marginal cost is:- MC = TC / Q…

Q: Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.…

A: We will complete a table with the help following formulas;- Total Cost = Fixed cost + Variable cost…

Q: Which of the following is true at the output level where average total cost is at its minimum? OA…

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

Q: what is the Explicit and Implicit cost? find the accounting profit and the economic profit Suppose…

A: Explicit cost are those cost which is hired by producer from outside' Implicit cost also known as…