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Per hour, the average wage is a minimum of £5 +, what do you mean by average cost??
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∙ 12y ago
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Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
When average cost is at its minimum then marginal cost will be?
mesh
When the firm attains minimum average variable cost how many units of labor is it using?
When a firm attains minimum average variable cost, the number of units of labor it is using depends on the average product.
When is the minimum possible short-run average costs are equal to long-run average cost?
the long run curve is at a minimum point
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
When average cost is at its minimum then marginal cost will be?
mesh
When the firm attains minimum average variable cost how many units of labor is it using?
When a firm attains minimum average variable cost, the number of units of labor it is using depends on the average product.
When is the minimum possible short-run average costs are equal to long-run average cost?
the long run curve is at a minimum point
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
In the short run if marginal product is at its maximum what happens to average cost?
it is at its minimum
How much does an average person spend buying a uniform?
MINIMUM: Free of cost MAXIMUM:300
Is a Monopolistically competitive firm productively efficient?
No because it does not produce at minimum average total cost
Why does the marginal cost curve cut the average total cost curve at its minimum?
Ur probably in Farzads class... hah xD
Why does the marginal cost curve cut through the average variable cost curve exactly at the minimum of the average variable cost curve?
Marginal cost curve cuts average cost (variable or total cost) at its minimum simply to portray the law of variable proportions. The idea is as labor is increased with capital being fixed, productivity increases upto a point and then decreases and later becomes negative. To relate the same productivity with average cost function, the average cost first decreases , reaches a minimum and then increases. Now marginal cost is just a change in the total cost. Logic says that when MC is less than AC productivity is favourable, thus cost is falling. When MC is more than AC productivity is not favourable and thus the rising portion of the cost curve. When MC = AC , the productivity that was reducing the average cost per unit has maximized and from then on starts rising cost(or decreasing productivity). That is the only point where they can intersect.
What is the average cost of a Hotpoint refrigerator?
Hotpoint refrigerators, on average, usually cost around $579. The very high end ones are about $1,000. They range from $200 minimum, all the way to $1,000.
Why mc intersect or cuts ac at its minimum point?
because at the minimum costs the adition costs(MC) is equal to average costs(AC) and which is a cost of single unit.
