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

Q: When there are positive fixed costs, can the average variable cost curve and average total cost…

A: We have 3 different costs, ATC, AVC and AFC where ATC is the sum of AVC and AFC. Given that are…

Q: The total cost of production equals Select one: a. average total cost + average variable cost b.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False

A: "Marginal cost represents change in total costs when one more unit is produced while average total…

Q: Using the numbers representing short run costs in the chart below, calculate the number that belongs…

A: We have blank for MC at q=5.

Q: Total cost divided by quantity of outout is Select one: a average variable cost b. average total…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…

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Q: Choose all answers that are correct:  the marginal cost is the slope of the... a. The variable cost…

A: Marginal cost = Change in total cost / Change in quantity of output

Q: Costs 80 MC AVC ATC 120 160 180 200 Refer to the graph above to answer this question. What does…

A: Cost refers to all the expenses that incur in the process of production of goods or services. These…

Q: 1. Explain the meaning of: a. Fixed cost b. Variable cost Stating an example of each above.

A: Since both are different questions, we will answer the first one only. Please resubmit the other…

Q: At the point where marginal cost equals average total cost, average total cost will be increasing.…

A: The marginal cost refers to the change in total cost when one additional unit of output is produced.…

Q: Average Cost falls when a. Marginal cost is greater than average cost b. Marginal cost is equal to…

A: Marginal cost and average cost are derived from the Total cost there is a relationship between the…

Q: QUESTION 4 Match each of the following terms and descriptions Average Fixed Cost Average Total Cost…

A: Providinf full. Solution.

Q: K Click on the table icon that shows the fixed costs, variable costs, and total costs for different…

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Q: Draw average variable cost ,average total cost and marginal cost curve in a single diagram!!!!

A: According to the given question All the average variable cost ,average total cost and the marginal…

Q: Refer to Figure: The vertical distance ABis Select one: A. total cost. B. marginal cost. C. total…

A: Curve 1 is the Marginal Cost(MC) Curve Curve 2 is the Average Variable Cost(AVC) Curve Curve 3 is…

Q: bath the marginal cost and the average variable cost curves are U-shaped, at the minimum point of…

A: Average total cost is the sum of average Fixed cost and average variable cost. It is referred as…

Q: average total cost (ATC) curve will be downward sloping so long as the a. marginal cost is greater…

A: The average total cost is the per unit cost of production. The ATC = TC/Q. The Total cost includes…

Q: Total cost is equal to average cost times marginal cost. a. True O b. False

A: # Total cost is referred to be as the sum of total fixed costs and the total variable costs which…

Q: Marginal cost is $26, and Average total cost is $33 when 20 units are produced. What will happen to…

A: Introduction Total cost includes all the implicit and explicit expenditures that are made during the…

Q: Quantity Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost…

A: Here, the given table shows different types of cost incurred in the production process and the…

Q: Marginal cost is $26, and Average total cost is $33 when 20 units are produced. What will happen to…

A: Introduction Total cost includes all the implicit and explicit expenditures that are made during the…

Q: QUESTION 3 Match each of the following terms and descriptions Fixed Cost Total Cost A. fixed cost…

A: Fixed cost is that cost which are not changed as output changed its remains constant. That means if…

Q: Total cost divided by quantity of output is Select one: a. average variable cost b. average total…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Which of the following is the extra, or additional, cost of producing one more unit of output?…

A: While producing the output, the producers majorly incur two kinds of costs, for example, the…

Q: Lesson 8 - Costs Question 5

A: C. Implicit costExplanation:Implicit costs Cost where one has to give up something valued that is…

Q: When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: The following graph shows the identical demand for all the individuals using TV cable services. 2 0…

A: The process of transforming raw elements such as labor and unprocessed commodities into services and…

Q: As long as marginal cost is below average variable cost or average total cost , then average…

A: When MC is below AVC, MC pulls the common down. When MC is above AVC, MC is pushing the typical up;…

Q: At the minimum-cost output OA. average variable cost must equal marginal cost. B. average fixed cost…

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Q: Can total cost of the firm be zero? if yes what's the production point at this level

A: Total cost of the firm is the combination of fixed cost of the firm such as rent of the workplace…

Q: As long as marginal cost is below average cost, average cost will be a. falling b. rising. .…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Short answer Explain the fixed cost and the variable cost with examples

A: In the field of economics, it is assumed that firms work towards maximizing their profits. The firms…

Q: Which of the following statement is correct? a. Marginal cost will equal average total cost when…

A: Let's first understand what's the meaning of marginal cost. The cost which is incurred on the…