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 81 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
Thanks for the timely response, appreciate it

pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Pathway of urine production and elimination. Pathway of urine production and elimination.
Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
Total body water (TBW) Total body water (TBW)
The neural pathway responsible for the production and learning of song in the male canary. The neural pathway responsible for the production and learning of song in the male canary.
Total parenteral nutrition through a catheter in the right subclavian Total parenteral nutrition through a catheter in the right subclavian
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library