If marginal cost is less than average variable cost and output increases, average total cost and average variable cost. Select one: OA. decreases; increases B. increases; decreases C. increases; increases D. decreases, decreases

Which of the following costs will not change as output changes? 1. A. marginal cost 2 B. total variable cost 3. C. average variable cost 4. D. total fixed cost

When output is zero, total fixed cost is zero. O True O False

The average total cost (ATC) curve will be downward sloping so long as the a. marginal cost is greater than average total cost. b. marginal cost is less than average total cost. c. average variable cost is less than average total cost. d. average fixed cost is less than average total cost

Whereat for the firm operating at it efficient scale, a. the marginal cost curve intersects at the minimum point of AVC curve. b. the marginal cost curve intersects at the minimum point of ATC curve. c, the marginal cost curve intersects at the minimum point of AFC curve. d. the slope of total cost is the smallest.

Which of the following must be falling when the short run marginal cost is less than it, and rising when the short run marginal cost is greater than it?  Choose all answers that are correct. a.Short run average total cost b.Variable cost c.Fixed cost d.Average variable cost

In the figure, the intersection of curves A and B is the point at which 20 16 12 20 40 60 80 Quantily (unts per day) O A. average total cost is minimized. B. average variable cost is minimized. OC. average fixed cost is minimized. OD. total product is maximized. Costs per unit (dollars per unit) 8.

Fixed cost. Variable cost. Total cost. is falling when marginal cost is below it and rising when marginal cost is above it. O Average total cost.

This refers to the ratio of a small increment of cost and a small increment of output. a. Increment cost b. Marginal cost c. Differential cost d. All of these

Question 19 of 20 > (TC is total cost; VC is variable cost; Q is quantity.) ΔΤC . а. b. The amount by which total cost increases when an AQ additional unit is produced: Marginal cost Average (total) cost Average variable cost TC d. The total cost divided by the quantity of output: с. e. The change in total cost divided by the change VC f. in output: g. The sum of all costs that change as output changes divided by the number of units produced: