Author Question: Refer to the information provided in Table 8.3 below to answer the question(s) that follow. Refer to ... (Read 51 times)

Shelles · **on:** Apr 19, 2019

Question 1

Refer to the information provided in Table 8.3 below to answer the question(s) that follow.

Refer to Table 8.3. The marginal cost of the fourth unit is ________ and the average total cost of four units is ________.

◦ $10; $30
◦ $20; $45
◦ $30; $35
◦ indeterminate from the given information

Question 2

Refer to the information provided in Table 8.3 below to answer the question(s) that follow.

Refer to Table 8.3. From the information in the given table

◦ the firm is in the long run.
◦ the firm eventually experiences diminishing returns to its variable input.
◦ the marginal cost curve intersects the average total cost curve between 3 and 4 units of output.
◦ the difference between total cost and total variable cost decreases as output increases.

Briannahope · **Reply #1 on:** Apr 19, 2019

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 49% of students answer this correctly