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 ...
fourth unit of output, then at five units of output, average total cost must be rising.ANS: F DIF: 3 REF: 13-3 NAT: Analytic LOC: Costs of production TOP: Marginal cost | Average total cost MSC: Analytical 相关知识点: 试题来源: ...
This $25.75 is the marginal cost of the ninth unit.Answer (A) is incorrect because This amount is the variable cost of the eighth unit.Answer (B) is incorrect because This amount is the variable cost of the ninth unit.Answer (D) is incorrect because This amount is the average cost per...
a change in fixed costs does not affect the marginal cost. For example, if there are only fixed costs associated with producing goods, the marginal cost of production is zero. If the fixed costs were to double, the marginal cost of production is still ...
To solve the problem, we will follow these steps:Step 1: Understand the Marginal Cost Function The marginal cost (MC) of production is given as: \( MC = 30 + 2x \) where \( x \) is the quantity of output produced.
What Is the Marginal Cost of Production? The marginal cost of production refers to the cost to produce one additional unit. Theoretically, companies should produce additional units until the marginal cost of production equals marginal revenue, at which point revenue is maximized. ...
The marginal cost of producing a commodity increases because of specialization. b. False. Production specialization does not lead to an increase in...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts...
Explain why the profit-maximizing production is found where the marginal cost of production is equal to the marginal revenue of that production. What are the marginal costs for a monopoly which has a profit-maximizing price of $6 and a price elasti...
Marginal costs are costs that do not vary with the quantity of output produced.ANS: F DIF: 1 REF: 13-3 NAT: Analytic LOC: Costs of production TOP: Marginal cost MSC: Definitional 相关知识点: 试题来源: 解析 F 边际成本(Marginal Cost)是指每额外生产一单位产品时,总成本的增加量。它与产量...
Find the total cost and the average cost of producing 3 units of output. View Solution IfC=ax2+bx+crepresents the total cost function, then slope of the marginal cost function is View Solution The cost of production of a certain instrument is directly proportional to the number of units pro...