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Author Question: Suppose a firm with the usual U-shaped cost curves is producing a level of output such that its ... (Read 73 times)

dabomba718

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on: Oct 12, 2022
Suppose a firm with the usual U-shaped cost curves is producing a level of output such that its short-run costs are as follows:
 ATC = $0.37 per unit
 AVC = $0.32 per unit
 AFC = $0.05 per unit
 MC = $0.43 per unit
Given these short-run costs, as the firm increases its output, which of the following statements is true?
◦ The point of diminishing average product of the variable factor has not yet been reached.
◦ Marginal product of the variable factor must be increasing.
◦ Marginal product of the variable factor is at its minimum point.
◦ Average product of the variable factor must be increasing.
◦ Marginal product of the variable factor must be decreasing.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by dabomba718 on Oct 12, 2022

MajorWaffle

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Reply #1 on: Oct 12, 2022
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.
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dabomba718

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

atrochim

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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