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 129 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?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Rapidly decreasing sequence costs have enabled the rapid expansion Rapidly decreasing sequence costs have enabled the rapid expansion
Benefits and costs of herbicide applications Benefits and costs of herbicide applications
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library