What is the difference between total cost and variable cost in the long run?In the long run,A. the variable cost of production minus the total cost of production is the fixed cost of production.OB. the total cost of production equals the fixed cost of production and the variable cost of production equals zero.C. the total cost of production minus the variable cost of production is the fxed cost of productionOD. the total cost of production equals the variable cost of productionOE. the total cost of production minus the variable cost of production is the marginal cost of production

What is the diference between total cost and vaiable cost in the long nun? In the long run A. the variable cost of production minus the total cost of production is the fixed cost of production OB. the total cost of production equals the fixed cost of production and the variabie cost of production equals zero C. the total cost of production minus the variable cost of production is the faed cost of production OD. the total cost of production equals the variable cost of production OE the total cost of production minus the variable cost of production is the margnal cost of production

What is the diference between total cost and vaiable cost in the long nun? In the long run A. the variable cost of production minus the total cost of production is the fixed cost of production OB. the total cost of production equals the fixed cost of production and the variabie cost of production equals zero C. the total cost of production minus the variable cost of production is the faed cost of production OD. the total cost of production equals the variable cost of production OE the total cost of production minus the variable cost of production is the margnal cost of production

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

See similar textbooks

Similar questions

What shape of a long-run average cost curve illustrates economies of scale, constant returns to scale, and diseconomies of scale?
What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?
How does fixed cost affect marginal cost? Why is this relationship important?
Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?
Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?
A firm had sales revenue of 1 million last year. It spent 600,000 on labor, 150,000 on capital and 200,000 on materials. What was the firms accounting profit?
What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?
i dont use chatgpt i will 10 upvote
Average total cost, average variable cost marginal cost and marginal product a. Why is the gap or difference between average total cost and average variable cost larger at initial level of production ction and then the gap is decreasing as output increases? Explain.
Typed plz asap
I need the answer as soon as possible
B. the rodu g one m Average Variable Cost C. fixed costs divided by output D. total cost divided by output v Marginal Cost QUESTION 5 20 points Save Answer Match each of the following terms and descriptions Constant returns to scale when the average cost of producing each individual unit A. declines as total output increases Diseconomies of scale average cost of producing each individual item increases as В. output increases economies of scale average cost of producing each individual unit remains C. constant as output increases Long Run Average Total Cost Curve the relationship between output and costs over the life of a D. business Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit ype here to search W 63°F Ca ) ENG 8:10 PM 10/18/2021 hp