This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: OUTPUTTotal CostFixed CostVariable CostAverage Variable CostAverage Total ... (Read 81 times)

cmoore54

  • Hero Member
  • *****
  • Posts: 568
on: May 24, 2019

OUTPUTTotal CostFixed CostVariable CostAverage Variable CostAverage
Total Cost
0$100$100​​​
1$140$100$40$40$140
2$160$100$60$30$80
3$200$100$100     $33.33$67
4$240$100$140$35$60
5$330$100$230$46$66

The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________.
◦ ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns
◦ AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output
◦ AVC; always declining because costs are divided across ever-increasing amounts of output
◦ MC; U-shaped because explicit costs exceed implicit costs
◦ ATC; U-shaped because output increases as costs increase
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by cmoore54 on May 24, 2019

pocatato

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: May 24, 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.
Answer Preview
Only 59% of students answer this correctly


cmoore54

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: May 24, 2019
Thanks


pocatato

  • Sr. Member
  • ****
  • Posts: 333
Reply #3 on: May 24, 2019
Welcome :)


« previous next »
 

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Refraction Through Uniform and Variable Thickness Glasses Refraction Through Uniform and Variable Thickness Glasses
A cutaway view of a typical variable fuel sensor. A cutaway view of a typical variable fuel sensor.
Find the lateral area, total surface area, and volume of the frustum Find the lateral area, total surface area, and volume of the frustum
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
If the random variable x is exponentially distributed with parameter λ = 4, then P(x ≤ ... If the random variable x is exponentially distributed with parameter λ = 4, then P(x ≤ ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Polysaccharides

For a complete list of videos, visit our video library