Author Question: The short-run average variable cost curve a. is always downward-sloping b. starts at the origin ... (Read 32 times)

lb_gilbert · **on:** Jun 30, 2018

The short-run average variable cost curve
a. is always downward-sloping
b. starts at the origin and always slopes upward
c. starts above the origin and always slopes upward
d. is a horizontal line intersecting the vertical axis
e. slopes downward at low rates of output, then slopes upward at higher rates of output

Question 2

If total cost at Q = 0 is 100 and total cost at Q = 10 is 500, then average variable cost at Q = 10 is
a. 500
b. 400
c. 50
d. 40
e. 10