Question

which of the following is correct a Marginal cost cuts average fixed cost at the latter’s...

which of the following is correct

a

Marginal cost cuts average fixed cost at the latter’s minimum point.

b

Average fixed cost cuts marginal cost at the latter’s minimum point.

c

Marginal cost cuts average total cost at the latter’s minimum point.

d

Average variable cost cuts marginal cost at the latter’s minimum point.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The shutdown point in the long run is ___________________. Minimum Marginal Cost Minimum Average Fixed Cost...
The shutdown point in the long run is ___________________. Minimum Marginal Cost Minimum Average Fixed Cost Minimum Average Variable Cost Minimum Average Total Cost The shutdown point in the short run is ___________________. Minimum Marginal Cost Minimum Average Fixed Cost Minimum Average Variable Cost Minimum Average Total Cost
1- Match the following Total Cost   C = Total Cost - Fixed Cost Fixed Cost A....
1- Match the following Total Cost   C = Total Cost - Fixed Cost Fixed Cost A. = Variable Cost + Fixed Cost Variable Cost B. = Total Cost - Variable Cost Economic Costs .D. include Opportunity Cost 2- Match the following Average fixed cost A= fixed cost / quantity Average variable cost B= Variable cost / Q Average total cost C= total cost / quantity Marginal Cost D= Delta total cost / delta quantity 3- If Marginal Cost is equal...
Which of the following statements is correct? rev: 06_26_2018 Multiple Choice The marginal cost curve intersects...
Which of the following statements is correct? rev: 06_26_2018 Multiple Choice The marginal cost curve intersects the average variable cost curve at its lowest point. If average variable cost is increasing, then average total cost must be increasing too. The marginal cost curve intersects the average variable cost curve at a level of output greater than where the marginal cost curve intersects the average total cost curve. Marginal cost is the change in the average fixed cost associated with a...
In the short run, which of the following statements is correct? Fixed cost rises, Marginal cost...
In the short run, which of the following statements is correct? Fixed cost rises, Marginal cost rises., Average cost decreases, None of the above is correct.
Assume diminishing marginal product at some point. Draw the fixed cost, average fixed cost, marginal cost,...
Assume diminishing marginal product at some point. Draw the fixed cost, average fixed cost, marginal cost, average variable cost and average total cost curves for a firm. Indicate the quantity associated with efficient scale. What two curves intersect at this point? Is this a short run or long run cost analysis?
​Total cost is calculated as _____. Select one: a. ​average fixed cost plus average variable cost...
​Total cost is calculated as _____. Select one: a. ​average fixed cost plus average variable cost b. ​fixed cost plus variable cost c. ​the additional cost of the last unit produced d. ​marginal cost plus variable cost e. ​marginal cost plus fixed cost -------------------------------------------------------------------------------------- ​The law of diminishing marginal returns states that: Select one: a. ​long-run average cost declines as output increases. b. ​if the marginal product is above the average product, the average will rise. c. ​as units of...
Which statement about the short-run is true? Group of answer choices Marginal cost intersects the maximum...
Which statement about the short-run is true? Group of answer choices Marginal cost intersects the maximum of average variable cost. Marginal cost intersects the minimum of average variable cost . Marginal cost intersects the minimum of average fixed cost. None of the other answers is correct. Marginal cost intersects average total cost at the minimum of marginal cost
Which of the following best describes the relationship between marginal cost and average cost of production?...
Which of the following best describes the relationship between marginal cost and average cost of production? A)   Total cost minimisation occurs at the point where marginal cost equals average cost. B)   When marginal cost exceeds average cost, average cost must increase with output.   C)   When marginal cost equals average cost, total revenue must be maximised. D)   Average cost increases at a diminishing rate if marginal cost is positive.
Fill in the correct option within each set of brackets; indicate your selection by underlining the...
Fill in the correct option within each set of brackets; indicate your selection by underlining the words you choose: For any quantity of production for which marginal cost is less than average total cost, average total cost must be {rising, falling}, and similarly if marginal cost is greater than average total cost, ATC must be {rising, falling}. Marginal cost cuts through the average total cost function at ATC’s {minimum, maximum} point. The relationship similar between marginal cost and {average fixed,...
If marginal cost exceeds average variable cost, average variable cost is decreasing average variable cost is...
If marginal cost exceeds average variable cost, average variable cost is decreasing average variable cost is negative average variable cost is increasing marginal cost is greater than average total cost average fixed cost is increasing If marginal cost exceeds average variable cost, average variable cost is decreasing average variable cost is negative average variable cost is increasing marginal cost is greater than average total cost average fixed cost is increasing Which of the following is true of marginal product? When...