Explain Marginal cost (MC)?

Q: The government imposes a $1,000 per year license fee on all pizza restaurants.  As a result, which…

A: Fixed costs are costs that do not vary with changes in the level of output or sales. They are…

Q: Explain why the fixed cost has no influence at all on marginal cost.

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total variable…

Q: What does fixed cost refer to in economics? a) Costs that vary with the level of production b) Costs…

A: Fixed costs are a key idea in financial matters and business, playing an essential part in the…

Q: hy does more inputs not necessarily translate into more output?

A: An input is something placed into a framework or interaction, while an output is produced or created…

Q: If the average-total-cost curve is falling, what is necessarily true of the marginal-cost curve? If…

A: Costs of production, which comprise expenses of many kinds, are incurred during the production of…

Q: When most people want to know the cost of an item or a service, they look for a price tag. When…

A: Scarcity is the central problem of economics. The existance of unlimited wants and limited resources…

Q: Draw tfc, tvc, tc and marginal cost curve on the same graph.

A: To draw the graph of TC, TVC, TFC and MC random data have been taken.

Q: if marginal cost is rising with increasing output, averags cost must also be rising. true or false ?…

A: False. This sentence contains the statement that average cost of production must also rise if…

Q: Give a numerical example to show that as marginal physical product (MPP) rises, marginal cost (MC)…

A: Marginal Physical Product (MPP) is the addition to the total physical product when an additional…

Q: Give an example of an opportunity cost that an accountant would not count as a cost. Why would the…

A: Opportunity cost, in economics, is related to the concept of scarcity and represents the potential…

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: Hi, I am studying chapter 11 from Microeconomics 21st edition. I am still confused about a certain…

A: The marginal cost curve of a firm cut the average total cost curve at its minimum point. In initial…

Q: in your own personal life, what are some fixed and variable costs you have?

A: Since you have asked a personal opinion-based question, we can only answer it in a generalized…