Question

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

Answer #1

Answer -

Marginal cost intersects average total cost at the minimum of
marginal cost.

Explanation - The marginal cost of producing next additional unit
of output will affects average total cost,so when marginal cost is
less than average total cost, average total cost will reduce. As a
result marginal cost of producing other unit will be more than
average total cost and average total cost will start to
increase.

All other given statements regarding short run are false.

Which of the following statements is true:
Group of answer choices
None of the other answers is correct.
In the long run, under perfect competition; there are no fixed
costs
In the long run, under perfect competition; price equals the
minimum of the marginal cost
In the long run, under perfect competition; firms experience a
perfectly inelastic demand curve
In the long run, under perfect competition; price equals the
maximum of the marginal cost

which statement about the long-run and short-run total cost
curve is true
A none of the answers
B the short-run total cost is greater than or equal to the
long-run total cost
C for a given level of output it is possible that the short-run
cost is less than the long-run cost
D the short-run total cost is always greater than the long-run
total cost

Short run cost curves:
a. Explain why the marginal cost curve intersects the average
total and variable cost curve at their respective minimum
values:
b. At what point on the ATC will a perfectly competitive firm
always produce in the long run:
c. The supply curve for a perfectly competitive firm is the same
as one of the cost curves based on a specific criterion. State both
the curve and the criterion:

1.
Which is statement is true?
I. A single-price monopolist charges a price equal to the marginal
cost of the last unit sold.
II. A monopolist with positive marginal costs and facing a linear
demand curve always sets a quantity (or price) such that it sells
on the elastic section of the demand curve.
III. A monopolist regulated by marginal-cost pricing regulation
sells at a price that covers its variable and fixed costs of
production, but it still causes a...

In class we looked at (short run) cost curves.
Explain why the marginal cost curve intersects the average total
and variable cost curves at their respective minimum values:
At what point on the ATC will a perfectly competitive firm
always produce in the long run:
The supply curve for a perfectly competitive firm is the same as
one of the cost curves based on a specific criterion. State both
the curve and the criterion:

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.

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...

Market supply in the short-run is the _______ of individual
firms' _______ .
Group of answer choices
sum; marginal cost curves
sum; average total costs
average; marginal cost
market average; total costs

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

74. Which of the following statements is true?
Group of answer choices
a. The short-run aggregate supply curve is downsloping.
b. The short-run aggregate supply curve is vertical.
c. The long-run aggregate supply curve is vertical.
d. The long-run aggregate supply curve is upsloping.

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