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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.
What is the relationship between total cost curve and variable cost curve?
estimated cost
The supply curve of a monopoly is its marginal cost curve true or false?
Flase, The suuply curve of a "perfect competition" is its marginal cost curve
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?
How is a long-run average cost curve different from a short-run average cost curve?
The long-run average cost curve is longer.
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.
What is the relationship between total cost curve and variable cost curve?
estimated cost
The supply curve of a monopoly is its marginal cost curve true or false?
Flase, The suuply curve of a "perfect competition" is its marginal cost curve
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?
How is a long-run average cost curve different from a short-run average cost curve?
The long-run average cost curve is longer.
A firm's marginal cost curve above the average variable cost curve is also?
A firm's short run supply 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.
What happens when the slope of the total revenue curve is equal to the slope of the total cost curve?
a. monopoly profit is maximized. b. marginal revenue equals marginal cost. c. the marginal cost curve intersects the total average cost curve. d. the total cost curve is at its minimum. e. Both A and B
Is space is really curve?
The sir of astronomy said that space is curve but how that is possible according to me space can not curve if space is the form of curve than all galleries ,plants ,stars, and everything which belong to universe will be move in the same way but there are moving in special curve path . The curve path be may because of different forces which make them make is a curve path. The forces are well know my as . But on curve path I have a example suppose that you are moving on a path the path is curve you are moving in a straight line with any speed but it appear to as that we are moving in a curve path. in reality we are moving in straight line. same condition of earth which are moving in a curve due to same special forces not in a curve space. Now we know very wall that the curve path is due to same special forces which force any body to move in a curve path . In short the curve is due to same force , it is not mean that space is curve. If so than the shape of space is like Imagine the image
What is a firm's short run supply curve?
A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost curve.
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.
Why does the marginal cost curve correspond to the supply curve?
A perfectly competitive firm's supply curve is that portion of its' marginal cost curve that lies above the minimum of the average variable cost curve. A perfectly competitive firm maximizes profit by producing the quantity of output that equates price and marginal cost. As such, the firm moves along it's marginal cost curve in response to alternative prices. Because the marginal cost curve is positively sloped due to the law of diminishing marginal returns, the firm's supply curve is also positively sloped.
