Q29 As output increases, marginal costs willeventually incrense becauseO average total cost increasesO economies of scale are achievedO marginal product decreasesO total cost increasesO fixed cost remains constantAnswer the question abore br chekng on the comeer resprouse

As there is an increase in the level of output, there comes a rise in the level of marginal cost…

As output increases, marginal costs willeventually incrense a average total cost increases O economies of scale are achieveod O marginal product decreases O total cost increases O fixed cost remains constant Mat

As output increases, marginal costs willeventually incrense a average total cost increases O economies of scale are achieveod O marginal product decreases O total cost increases O fixed cost remains constant Mat

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 40P: Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from...

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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Q29

As output increases, marginal costs willeventually incrense because
O average total cost increases
O economies of scale are achieved
O marginal product decreases
O total cost increases
O fixed cost remains constant
Answer the question abore br chekng on the comeer resprouse

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Q50
Salisbury Smacthic Coimalies bet ucen O and lo00 Smeathies each manth. Their fixed costs $2000 a monthpand their monthly Varisble Gre cest is Cv Cx) = 0.o00123-0.082²+40x . dellars and where Cy is in number of smacthies sold R the . O what is the cost functicn cCx) accohnting for fixed cad Variable cests? Compute the merçinsl cost functien.
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The figure to the right ilustrates the long-nun average cost curve for a company that makes motors Long-un average con Suppose the company produces 18 thousand motors per month. la it expelancing conomies of scale dieconomies of scale, or constant rutums to scale 4000 the company produces 18 thousand motors. then it experiences 24.00 12.00- 4.00 Quanty motors per month in 1.000s) Averape total cost
Which of tholowing statements is true? O An explicit cost is more important, dolar for dollar, than an implicit cost. An explicit cost is an actual cost an implicit cost is a theoretical cost. Economic costs include both explicit costs and implicit costs O Explicit costs are accounting costs, not economic costs, implicit costs are economic costs, not accounting cos