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Author Question: On a graph of production costs, the vertical distance between the fixed cost curve and the total ... (Read 127 times)

saraeharris

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  • Posts: 546
on: Jun 30, 2018
On a graph of production costs, the vertical distance between the fixed cost curve and the total cost curve at a specific quantity represents
 a. variable cost
  b. average variable cost
  c. average total cost
  d. average fixed cost
  e. marginal cost

Question 2

If labor is a firm's only variable input, marginal cost ultimately depends on
 a. fixed cost
  b. how much profit is made
  c. the price of the good produced
  d. how much output each worker produces
  e. fixed cost per unit


bassamabas

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

A

Answer to Question 2

D


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