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If a firm experiences constant returns to the variable input in the short and 8203 run A. marginal cost will be greater than average variable and 8203 cost and the difference between the two will beco?
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What is MVP in economics?
Marginal Variable Product (MVP) = Difference between TVP2 - TVP1
Marginal versus variable costing?
Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.
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
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
Why is the Marginal cost curve downward sloping?
Marginal cost curve is u-shaped curve, this is due to law of variable proportion(return to factors), firstly, there is an increasing return (i.e, decreasing cost) then there is a stage of constant returns (i.e, constant cost) then lastly comes the stage of decreasing returns (i.e increasing cost), that`s why marginal cost curve first slopes downward and then slope upward and become u-shaped.
What is the difference between constant speed and variable speed?
The difference is that constant speed doesn't change but variable speed does. (change)
What is MVP in economics?
Marginal Variable Product (MVP) = Difference between TVP2 - TVP1
Marginal versus variable costing?
Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.
WAP to show the difference between a variable and static variable?
difference between constant and static variables in java
What is the difference between a variable and a literal in prgramming?
a literal is a constant value, the difference is a variable can change it's value.
What the difference between a variable and control?
The difference between a controlled variable and a variable is in their state. A controlled variable is something which is rigid and constant while a variable is liable to change and inconsistent.
What is difference between variable and constant?
Whether or not you can change its value.
Difference between variable and constant in statistics?
When referring to statistics, variable means that numbers change and can go up and down. If something is constant, numbers remain unchanged.
What is the difference between an experimentation variable and a control variable?
In a controlled experiment, the control variable remains constant while the experimental variable changes with each trial of the experiment.
What is the difference between experimental variable and a control variable?
In a controlled experiment, the control variable remains constant while the experimental variable changes with each trial of the experiment.
What is the difference between an experimental variable and a control variable?
In a controlled experiment, the control variable remains constant while the experimental variable changes with each trial of the experiment.
What is the difference between independent variable and a constant variable?
A constant is something that will ALWAYS remain the same in your experiment. For instance, the materials you use and the unit of measurements you use are examples of constants. An independent variable changes with the experiments.
