Economies of scaleis defined as decreasing long-run cost per unit as output increases. Diseconomies of scale is defined as increasing long-run cost per unit as output increases. Long-run average total cost is the cost of production per unit of output under conditions in which all inputs are ...
The long-run average total cost of producing 100 units of output is $4, while the long-run average cost of producing 110 units of output is $4. These numbers suggest that the firm producing this output is experiencing:A.economies of scale.B.diseconomies
Profitisthefirm’stotalrevenueminusitstotalcost.Profit=Totalrevenue-Totalcost Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.CostsasOpportunityCosts Afirm’scostofproductionincludesalltheopportunitycostsofmakingitsoutputofgoodsandservices.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,...
average total cost is minimized. d. marginal cost is minimized. e. marginal product is minimized. ANS:CDIF:2REF:13-3 NAT:AnalyticLOC:Costs of productionTOP:Efficient scale MSC:Interpretive Figure 13-7 23.Refer to Figure 13-7.The efficient scale of production occurs at which quantity? a. ...
LOC:CostsofproductionTOP:Marginalcost|Averagetotalcost MSC:Analytical 27.Ifthemarginalcostofproducingthefifthunitofoutputishigherthanthe marginalcostofproducingthefourthunitofoutput,thenatfiveunitsofoutput, averagetotalcostmustberising. ANS:FDIF:3REF:13-3NAT:Analytic LOC:CostsofproductionTOP:Marginalcost|Av...
marginal cost of production shows the change in a firm's total cost from producing one more unit of a good or service. What is the shape of the marginal cost curve? Graphically, the marginal cost curve is A. a U shape, initially falling when the marginal product of labor is below ...
Suppose a firm operates in the short run at a price above its average total cost of production. In the long run the firm should expect___.A.new firms to enter the market.B.the market price to fall.C.its economic profits to fallD.All of the above a
百度试题 结果1 题目 Learning curves show a decline in the current average cost of production as total production mounts.() 相关知识点: 试题来源: 解析 正确 反馈 收藏
Chap_13 The Costs of Production.ppt,Relationship Between Marginal Cost and Average Total Cost MC ATC $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 0 2 4 6 8 10 12 Quantity of Output (glasses of lemonade per hour) Costs Big Bob’s Cost Curves... $0.00 $
the average total cost; 翻译结果3复制译文编辑译文朗读译文返回顶部 Average total cost of the original 翻译结果4复制译文编辑译文朗读译文返回顶部 The average total cost 翻译结果5复制译文编辑译文朗读译文返回顶部 Original average total cost 相关内容 ...