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

Author Question: Suppose you produce 10 bikes a day for a total cost of 1000. Total costs increase to 1100 when you ... (Read 260 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
on: Jun 29, 2018
Suppose you produce 10 bikes a day for a total cost of 1000. Total costs increase to 1100 when you produce 15 bikes. Finally, total costs increase to 1300 if you make 20 bikes.
 
  A graph showing the relationship between total costs and the number of bikes produced would be A) a negatively-sloped line that becomes steeper.
  B) a positively-sloped line that becomes steeper.
  C) a negatively-sloped line that becomes flatter.
  D) a positively-sloped line that becomes flatter.

Question 2

A firm is said to have market power if it charges a price ________ of production.
 
  A) higher than the marginal cost
  B) lower than the marginal cost
  C) equal to the marginal cost
  D) equal to the average fixed cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

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

B

Answer to Question 2

A


piesebel

  • Hero Member
  • *****
  • Posts: 565
Reply #2 on: Jun 29, 2018
Thank you :)


Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
Mean scores for Erikson’s stage V (Identity) for two cohorts. Scores for both cohorts increase ... Mean scores for Erikson’s stage V (Identity) for two cohorts. Scores for both cohorts increase ...
As some groups do ethnic work, they produce a mythical long-lost heritage, as in this photo of ... As some groups do ethnic work, they produce a mythical long-lost heritage, as in this photo of ...
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
question in cost accounting question in cost accounting
Stepwise processing of pri-miRNA to produce miRNA Stepwise processing of pri-miRNA to produce miRNA
Video: Introduction to Photolithography - WC, BLF, PA, Hard and Soft baking

For a complete list of videos, visit our video library