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Author Question: Average variable and average total costs get farther apart as output decreases because ________ as ... (Read 76 times)

jerry coleman

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on: Apr 19, 2019

Question 1

The average variable cost of producing 250 sundaes is $5. At this level of output, average variable cost is minimized. Which of the following statements is 
true?


◦ Marginal cost of the 251st sundae is $1,250.
◦ Average total cost is minimized at an output greater than 250 sundaes.
◦ Average fixed cost is minimized at an output less than 250 sundaes.
◦ Total cost of producing 250 sundaes is $1,250.

Question 2

Average variable and average total costs get farther apart as output decreases because ________ as output decreases.


◦ diminishing returns set in
◦ average fixed costs increase
◦ marginal costs increase
◦ total and total variable costs get farther apart
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by jerry coleman on Apr 19, 2019

bitingbit

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jerry coleman

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

abro1885

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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