This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Average variable cost and average total costs get closer together as output increases because (Read 98 times)

burchfield96

  • Hero Member
  • *****
  • Posts: 610
on: Apr 19, 2019

Question 1

The average variable cost of producing ice cream sundaes are minimized when 100 sundaes are produced. The total cost of producing 100 sundaes is $500. If fixed cost of production is $200, what is the marginal cost of producing the 100th sundae?


◦ $2
◦ $3
◦ $5
◦ indeterminate from the given information

Question 2

Average variable cost and average total costs get closer together as output increases because


◦ diminishing returns set in.
◦ average fixed costs decrease as output increases.
◦ marginal costs decrease as output increases.
◦ economies of scale become apparent.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by burchfield96 on Apr 19, 2019

voltaire123

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Apr 19, 2019
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 25% of students answer this correctly


burchfield96

  • Hero Member
  • *****
  • Posts: 610
Reply #2 on: Apr 19, 2019
Excellent


voltaire123

  • Sr. Member
  • ****
  • Posts: 301
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

The Geometry of a Total Solar Eclipse The Geometry of a Total Solar Eclipse
Total body water (TBW) Total body water (TBW)
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
If the random variable x is exponentially distributed with parameter λ = 4, then P(x ≤ ... If the random variable x is exponentially distributed with parameter λ = 4, then P(x ≤ ...
Dagny Taggart is a graduating college senior and she is considering the costs of going to ... Dagny Taggart is a graduating college senior and she is considering the costs of going to ...
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Corpus Callosum Animation

For a complete list of videos, visit our video library