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Author Question: Which of the following statements is true? If the marginal product of labor diminishes, a. average ... (Read 28 times)

krzymel

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on: Jun 30, 2018
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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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

E


krzymel

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  • Posts: 548
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mcarey591

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Reply 3 on: Yesterday
Excellent

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