If average total costs increase when the output level increases, then there are diseconomies of scope. O there are economies of scope. O there are no economies of scale. O there are diseconomies of scale.

Q: Help answer point C. e-invoice versus printed invoice

A: C. E-invoice refers to the electronic invoice that appears directly on the system whereas printed…

Q: Long-Run Q 10 90 AC $

A: In the short run, some inputs are fixed and some are variable. Whereas in the long run, all the…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: To produce 100 bikes using 1 factory, short run average cost is $360.

Q: If average cost is $30 and the output is 15 units. Calculate total cost

A: (Q)If the average cost is $30 and the output is 15 units. Calculate total cost

Q: 8. Why is the Minimum Average Total Cost and Efficient Scale important?

A: Average Total Cost : The average cost or average total cost is per unit cost incurred by the firm in…

Q: If you know that total fixed cost is $400, total variable cost is $200, and total output is 4 units,…

A: Total fixed cost  is the cost that does not change as the level of output changes. For example,…

Q: When diseconomies of scale occur: CA. the long-run average total cost B. marginal cost intersects…

A: The average total cost (AC) is the per unit cost of production of the firm. The long run average…

Q: If a firm experiences economies of scale over all relevant levels of output, its long-run average…

A: A production function illustrates the relationship between the inputs used and the output produced…

Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.