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Author Question: The least-cost way of producing a particular rate of output is represented by a point of tangency ... (Read 21 times)

jerry coleman

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on: Jun 30, 2018
The least-cost way of producing a particular rate of output is represented by a point of tangency between a short-run average cost curve and the
 a. total cost curve
  b. short-run average total cost curve
  c. average variable cost curve
  d. long-run average cost curve
  e. marginal cost curve

Question 2

Marginal cost indicates how much total cost increases if one more unit is produced or how much total cost drops if production declines by one unit.
 a. True
  b. False


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Viet Thy

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

A


jerry coleman

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Reply #2 on: Jun 30, 2018
Thank you


Viet Thy

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Reply #3 on: Jun 30, 2018
No problemo


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