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A hill-shaped curve centered around an average value typically represents a probability distribution, where the highest point of the curve corresponds to the mean or average. This shape indicates that values closer to the average are more frequent, while values further away are less common, creating a peak at the center. An example of such a distribution is the normal distribution, which is symmetrical and bell-shaped. This type of curve is useful in statistics for understanding the behavior of data sets.
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What is the relationship between long-run average cost curve and short-run average cost curve?
what is the relationship between long run average cost curve and short run average cost curve?
6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
How is a long-run average cost curve different from a short-run average cost curve?
The long-run average cost curve is longer.
Why marginal product curve intersect the average product curve at the maximum?
of average product.
Why is the long run average cost curve known as the envelope curve or planning curve?
Long run average cost curve is known as envelope curve because it is formed by enveloping the short run average cost curves and it helps the entrepreneur in long term planning that is why it is also called planning curve.
What is a hill shaped curve centered around an average value called?
bell curve
What is the word with the definition of a hill shaped curve centered around an average value?
bell curve i believe is the word your looking for..Its called Normal Distribution :)
What is the mean of standard normal curve?
The mean of a standard normal curve is 0. This curve, which is a type of probability distribution known as the standard normal distribution, is symmetric and bell-shaped, centered around the mean. Additionally, the standard deviation of a standard normal curve is 1, which helps define the spread of the data around the mean.
What is the relationship between long-run average cost curve and short-run average cost curve?
what is the relationship between long run average cost curve and short run average cost curve?
6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
How is a long-run average cost curve different from a short-run average cost curve?
The long-run average cost curve is longer.
Why marginal product curve intersect the average product curve at the maximum?
of average product.
Why is the long run average cost curve known as the envelope curve or planning curve?
Long run average cost curve is known as envelope curve because it is formed by enveloping the short run average cost curves and it helps the entrepreneur in long term planning that is why it is also called planning curve.
At what point does the marginal cost (MC) curve intersect the average variable cost (AVC) curve?
The marginal cost (MC) curve intersects the average variable cost (AVC) curve at the minimum point of the AVC curve.
What is Another name for firms demand curve?
Average revenue curve
What is the relationship between marginal cost and average cost curves?
Margianal cost curve crosses the average total cost curve at the lowest point on the average total cost curve to be socially and ecomonical efficient.
Why is average cost and average variable cost are both you shaped?
the average variable cost curve and average cost curve are u- shaped because of the law of variable proportions.
