5. Economies of scale occur when a. the long run total cost is decreasing b. the long run total cost is increasing at a decreasing rate c. the marginal cost is increasing d. the long run AC is increasing e. the long run AC is decreasing

Q: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…

A:

Q: Healthy Harry’s Juice Bar has the following cost schedules: Q VARIABLE COST TOTAL COST 0 0 30 1 10…

A: A cost curve is the locus of all points representing the cost incurred in the production of a…

Q: average total cost (ATC) curve will be downward sloping so long as the a. marginal cost is greater…

A: The average total cost is the per unit cost of production. The ATC = TC/Q. The Total cost includes…

Q: If a firm can grow and have all inputs, both labor and capital, specializing in a single task, the…

A: The term "production" is used to describe the steps involved in creating an end product from raw…

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

Q: What are diseconomies of​ scale? Diseconomies of scale is   A. when the marginal product of labor is…

A: Answer: Correct option: option D Explanation: Diseconomies of scale: when an increase in a firm’s…

Q: Marginal Cost Curve is shaped like a Nike swoosh. graph. 5.The Marginal Cost Curve crosses the…

A: Here, MC marginal cost  ATC average total cost AVC average variable cost  AFC average fixed cost…

Q: 2. Problems and Applications Q7 Your cousin Vinnie owns a painting company with fixed costs of $150…

A: Variable expenses vary according on the amount of product generated. Labour, commissions, and raw…

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.