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Author Question: How is it possible for marginal cost to equal to the slope of either the total variable cost ... (Read 61 times)

brutforce

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on: Jun 29, 2018
How is it possible for marginal cost to equal to the slope of either the total variable cost function or the total cost function?
 
  What will be an ideal response?

Question 2

A decrease in government spending will result in a decrease in the price level and a decrease in real GDP in the long run.
 
  Indicate whether the statement is true or false


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shaquita

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The reason is that the total cost function is simply shifted up by the amount of total fixed costs from total variable costs. Since the slopes of both functions are the same it doesn't matter which one is used to calculate marginal cost.

Answer to Question 2

FALSE


brutforce

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

bblaney

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Reply 3 on: Yesterday
Wow, this really help

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