2 Based on the following table, which of the following statements is true?QTRMRTCMC$30$15---1$30$30$30$25$102$30$60$30$40$15$30$90$30$60$204$30$120$30$85$255$30$150$30$115$306$30$180$30$150$35AExpansion of output occurs because of increasing returns to scale.BOExpansion of output causes diseconomies of scale to occur.Expansion of output causes input prices to rise as demand for inputs increases.DOExpansion of output leaves input prices constant as demand for inputs increases.3. 3 In economics, which of the following occurs at the shutdown point?A OThe average variable cost curve crosses the marginal cost curve.BOThe average variable cost curve crosses the total revenue curve.The marginal cost curve crosses the average variable cost curve.DOThe marginal cost curve crosses the total revenue curve.

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Based on the following table, which of the following statements is true? P TR MR TC MC $30 $15 --- --- $30 $30 $30 $25 $10 2 $30 $60 $30 $40 $15 3 $30 $90 $30 $60 $20 4 $30 $120 $30 $85 $25 $30 $150 $30 $115 $30 6 $30 $180 $30 $150 $35 A Expansion of output occurs because of increasing returns to scale. B Expansion of output causes diseconomies of scale to occur. Expansion of output causes input prices to rise as demand for inputs increases. Expansion of output leaves input prices constant as demand for inputs increases

Based on the following table, which of the following statements is true? P TR MR TC MC $30 $15 --- --- $30 $30 $30 $25 $10 2 $30 $60 $30 $40 $15 3 $30 $90 $30 $60 $20 4 $30 $120 $30 $85 $25 $30 $150 $30 $115 $30 6 $30 $180 $30 $150 $35 A Expansion of output occurs because of increasing returns to scale. B Expansion of output causes diseconomies of scale to occur. Expansion of output causes input prices to rise as demand for inputs increases. Expansion of output leaves input prices constant as demand for inputs increases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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