This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the short run, when production goes up what typically happens to total variable costs? What ... (Read 25 times)

joe

  • Hero Member
  • *****
  • Posts: 627
on: Jun 29, 2018
In the short run, when production goes up what typically happens to total variable costs?
 
  What will be an ideal response?

Question 2

What is the relationship between the marginal revenue curve and the demand curve for a single-price monopolist?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

alexanderhamilton

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

In order for the firm to produce more output it will hire more variable inputs like labor and raw materials. This will drive up its total variable costs

Answer to Question 2

For a single-price monopolist, price exceeds marginal revenue. The price is obtained from the demand curve, so for a single-price monopolist, the marginal revenue curve lies below the demand curve.


joe

  • Member
  • Posts: 627
Reply 2 on: Jun 29, 2018
:D TYSM

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri
Increasing Costs of Natural Disasters Increasing Costs of Natural Disasters
Variable Gases: Water Vapor Variable Gases: Water Vapor
How to rearrange formulas to isolate for a variable (Part 2) How to rearrange formulas to isolate for a variable (Part 2)
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library