Author Question: The long-run average cost curve is the A) change in total product divided by the change in ... (Read 100 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
The long-run average cost curve is the
 
  A) change in total product divided by the change in capital when the quantity of labor is constant.
  B) change in output resulting from a one-unit increase in the quantity of capital.
  C) relationship between the lowest attainable average total cost and output when both the plant size and labor are varied.
  D) relationship between the lowest attainable average total cost and output when both the plant size and labor are fixed.

Question 2

The higher the cost of acquiring skills, the ________ are the high-skilled and low-skilled labor ________ curves.
 
  A) closer together; demand
  B) farther apart; demand
  C) closer together; supply
  D) farther apart; supply



hanadaa

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

C

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

For a complete list of videos, visit our video library