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

Author Question: In the short run, when production goes up what typically happens to total variable costs? What ... (Read 75 times)

joe

  • Hero Member
  • *****
  • Posts: 627
on: Jun 29, 2018
In the short run, when production goes up what typically happens to total variable costs?
 
  What will be an ideal response?

Question 2

What is the relationship between the marginal revenue curve and the demand curve for a single-price monopolist?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

alexanderhamilton

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

In order for the firm to produce more output it will hire more variable inputs like labor and raw materials. This will drive up its total variable costs

Answer to Question 2

For a single-price monopolist, price exceeds marginal revenue. The price is obtained from the demand curve, so for a single-price monopolist, the marginal revenue curve lies below the demand curve.


joe

  • Member
  • Posts: 627
Reply 2 on: Jun 29, 2018
Gracias!

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

An example of a homeostatically controlled variable: blood levels of glucose in a human. An example of a homeostatically controlled variable: blood levels of glucose in a human.
The asymmetrical appearance of Mira, an oscillating variable star. The asymmetrical appearance of Mira, an oscillating variable star.
The Geometry of a Total Solar Eclipse The Geometry of a Total Solar Eclipse
Generation of diversity by variable V-J joining mechanisms Generation of diversity by variable V-J joining mechanisms
Production of ATP in Skeletal Muscle Production of ATP in Skeletal Muscle
Video: Introduction to Diabetes

For a complete list of videos, visit our video library