Microeconomics

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A variable cost is one that changes a. in the long run only b. in the short run only c. year to ... Started by leo leo	1 Replies 20 Views	Jun 30, 2018 by lorealeza77
Which of the following is a fixed cost of preparing meals? a. dishwasher detergent b. chicken c. ... Started by jrubin	1 Replies 27 Views	Jun 30, 2018 by dominiqueenicolee
In the short run, which of the following is likely to be a variable cost to a physician? a. office ... Started by gonzo233	1 Replies 17 Views	Jun 30, 2018 by mathjasmine
Which of the following would not be considered a fixed cost for a law firm? a. paper for the ... Started by j.rubin	1 Replies 15 Views	Jun 30, 2018 by bimper21
When marginal cost is decreasing, total cost is rising. a. True b. ... Started by javeds	3 Replies 15 Views	Jun 30, 2018 by Animal_Goddess
What is the relationship between marginal cost and marginal product? a. The two are not related. ... Started by jerry coleman	1 Replies 30 Views	Jun 30, 2018 by tranoy
As output rises, marginal product eventually diminishes and a. marginal cost increases b. average ... Started by bobbie	1 Replies 39 Views	Jun 30, 2018 by kusterl
The Toys-R-Danger-Us Toy Company can produce 500 water pistols for a total cost of 1,400 . The ... Started by storky111	1 Replies 41 Views	Jun 30, 2018 by yotaSR5
If variable cost rises from 60 to 100 as output increases from 15 to 20 units, the marginal cost of ... Started by codyclark	1 Replies 64 Views	Jun 30, 2018 by iceage
Which of the following statements is true? If the marginal product of labor diminishes, a. average ... Started by krzymel	1 Replies 23 Views	Jun 30, 2018 by mceravolo
On a graph of production costs, the vertical distance between the fixed cost curve and the total ... Started by saraeharris	1 Replies 67 Views	Jun 30, 2018 by bassamabas
Total cost is calculated as a. average fixed cost plus average variable cost b. fixed cost plus ... Started by mydiamond	1 Replies 172 Views	Jun 30, 2018 by JCABRERA33
A firm enters into a consent decree to avoid an even greater legal setback. If the terms of the ... Started by WhattoUnderstand	3 Replies 105 Views	Jun 30, 2018 by mk6555
If a firm shuts down in the short run and produces no output, its total cost will be a. zero b. ... Started by Pea0909berry	1 Replies 33 Views	Jun 30, 2018 by dpost18
The short-run average variable cost curve a. is always downward-sloping b. starts at the origin ... Started by lb_gilbert	1 Replies 38 Views	Jun 30, 2018 by akemokai
As a firm expands into overseas markets, information problems and the complexity of operating within ... Started by misspop	1 Replies 45 Views	Jun 30, 2018 by mbcrismon
If the average height in the classroom were 5 feet 10 inches and Patrick Ewing, who is 7 feet tall, ... Started by aabwk4	1 Replies 215 Views	Jun 30, 2018 by Sierray
If marginal cost exceeds average variable cost, a. average variable cost is negative b. average ... Started by madam-professor	1 Replies 103 Views	Jun 30, 2018 by parker125
Which of the following is true of the MC curve? a. It intersects the ATC curve at its minimum, but ... Started by cabate	1 Replies 39 Views	Jun 30, 2018 by raenoj
With respect to the average cost curves, the marginal cost curve a. intersects average total cost, ... Started by P68T	1 Replies 123 Views	Jun 30, 2018 by pikon
The long-run average cost curve is tangent to the minimum point of every short-run average total ... Started by natalie2426	3 Replies 111 Views	Jun 30, 2018 by JaynaD87
A firm's long-run average cost curve is also called its a. profit curve b. explicit cost curve c. ... Started by SO00	1 Replies 59 Views	Jun 30, 2018 by mohan
For each size of plant a manufacturer could build, there is a different a. long-run average fixed ... Started by jman1234	1 Replies 19 Views	Jun 30, 2018 by Chou
The shape of the long-run average cost curve reflects a. market demand b. economies and ... Started by SGallaher96	1 Replies 70 Views	Jun 30, 2018 by aadams68
If a firm experiencing economies of scale decreases its output, its long-run average cost will ... Started by torybrooks	1 Replies 58 Views	Jun 30, 2018 by paavo