Author Question: Related to the Economics in Practiceon page 172: When there are a few unsold seats in an arena for a ... (Read 34 times)

leo leo · **on:** Apr 19, 2019

Question 1

Consider an output beyond the minimum point of a firm's short run average total cost curve. At this level of output the firm can use its ________ input at a lower average cost but only by using its ________ input at a higher average cost.

◦ fixed capital; variable labor
◦ variable labor; fixed capital
◦ variable capital; fixed labor
◦ fixed labor; variable capital

Question 2

Related to the
Economics in Practice on page 172: When there are a few unsold seats in an arena for a rock concert, the marginal cost of filling those seats

◦ is probably close to zero.
◦ will be negative.
◦ is generally quite high.
◦ will primarily depend on the number of people waiting to get the seats.

pratush dev · **Reply #1 on:** Apr 19, 2019

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