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Author Question: Which of the following statements is true? If the marginal product of labor diminishes, a. average ... (Read 58 times)

krzymel

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Which of the following statements is true? If the marginal product of labor diminishes,
 a. average fixed cost rises
  b. average variable cost is constant
  c. marginal cost rises
  d. average total cost must rise
  e. total cost rises at a diminishing rate

Question 2

Suppose Guild produces 5,000 guitars per year. Its average total cost is 90, and its fixed cost is 250,000 . What is its variable cost?
 a. 250,000
  b. 450,000
  c. 25,000
  d. 56,000
  e. 200,000



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mceravolo

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Answer to Question 1

C

Answer to Question 2

E




krzymel

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


adammoses97

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Reply 3 on: Yesterday
Excellent

 

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