QUESTION 8Other things equal, if the fixed costs of a firm were to increase by $100.000 per year, which of the following would happen?B.Average fixed costs andaverage variable costs wouldO D. Average fixed costswould rise, but marginalO C. Average fixed costs andA. Marginal costs and averagevariable costs would both rise.average total costs wouldriserisecosts would fall

Fixed cost is a cost which remain fixed or unchanged at all the level of output. Fixed cost is…

QUESTION Other things equal, if the fixed costs of a firm were to increase by $100,000 per year, which of the following would Hdpp A. Marginal costs and average variable costs would both rise, B. Average fixed costs and average variable costs would O C. Average fixed costs and average total costs would rise, O D. Average fixed costs would rise, but marginal rise, costs would fall

QUESTION Other things equal, if the fixed costs of a firm were to increase by $100,000 per year, which of the following would Hdpp A. Marginal costs and average variable costs would both rise, B. Average fixed costs and average variable costs would O C. Average fixed costs and average total costs would rise, O D. Average fixed costs would rise, but marginal rise, costs would fall

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the three figures below, depicting possible cost functions for a firm. The horizontal axis measures output in all figures, while the vertical axis measures dollars. A B Which of the following statements are correct? Choose one or more: ⒸA. Figure A could represent the average total cost. OB. Figure B could represent the average total cost. C. Figure C could represent the average total cost. OD. If Figure B represents the average variable cost, then Figure C could not represent the average total cost. OE. If Figure B represents the marginal cost, then Figure C cannot represent the average total cost.
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