....... 9. Firm's Cost ScheduleJane's Juice Bar has the following cost schedules:In the following table, complete the marginal cost, average variable cost, and average total cost columns.Marginal Cost(Dollars)Variable CostTotal CostAverage Total CostAverage Variable Cost(Dollars)Quantity(Vats of juice) (Dollars)(Dollars)(Dollars)301382184833060450805801106120150On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left toright and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then youwould plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and usethe green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice.4035AAAAAA 4035Marginal Cost3025Average Variable Cost2015Average Total Cost1052Quantity (Vats of juice)Which of the following statements are true according to the previous graph? Check all that apply.O The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising.O The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising.O The marginal-cost curve lies below the average-variable-cost curve.Costs

Answered: Image /qna-images/answer/b15732e2-0387-4063-b6f6-67129a5356d4.jpg

Which of the following statements are true according to the previous graph? Check all that apply. O The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising. O The marginal-cost curve lies below the average-variable-cost curve.

Which of the following statements are true according to the previous graph? Check all that apply. O The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising. O The marginal-cost curve lies below the average-variable-cost curve.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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