Author Question: Natalie can produce 6 shirts in a day, or cook three meals. Her opportunity cost of producing a ... (Read 125 times)

pragya sharda · **on:** Jun 30, 2018

Natalie can produce 6 shirts in a day, or cook three meals. Her opportunity cost of producing a shirt is 2 meals.
Indicate whether the statement is true or false

Question 2

If the total cost of producing 2 pounds of cheese is 6 and the total cost of producing 4 pounds of cheese is 8, then:
a. marginal cost of producing cheese declines as output increases.
b. average total cost of producing cheese declines as output increases.
c. average total cost of producing cheese increases as output increases.
d. average total cost remains constant irrespective of the change in output.
e. marginal cost remains constant irrespective of the change in output.