Author Question: OUTPUTTotal CostFixed CostVariable CostAverage Variable CostAverage Total ... (Read 89 times)

cmoore54 · **on:** May 24, 2019

OUTPUT	Total Cost	Fixed Cost	Variable Cost	Average Variable Cost	Average Total Cost
0	$100	$100
1	$140	$100	$40	$40	$140
2	$160	$100	$60	$30	$80
3	$200	$100	$100	$33.33	$67
4	$240	$100	$140	$35	$60
5	$330	$100	$230	$46	$66

The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________.
◦ ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns
◦ AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output
◦ AVC; always declining because costs are divided across ever-increasing amounts of output
◦ MC; U-shaped because explicit costs exceed implicit costs
◦ ATC; U-shaped because output increases as costs increase

pocatato · **Reply #1 on:** May 24, 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 59% of students answer this correctly