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What is the relationship between total cost curve and variable cost curve?
Wiki User
∙ 13y ago
estimated cost
Wiki User
∙ 13y ago
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Relationship between marginal cost and average total cost?
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.
What is the difference in a movement along the demand curve and a shift in the total curve?
Distinguish between the movement along the demand curve and shift in demand curve with the assistance of suitable graphs and explanations?
The long run average total cost curve?
The long run average total cost curve is the lowest average total cost for producing each level of output. It depicts the per unit cost of producing a good or service in the long run when all inputs are variable.
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 difference between average total costs and average variable costs?
Average total cost is the average of all your costs. This is your Fixed Costs and your Variable costs. Average Variable Cost is the average of your costs that can fluctuate.
What does the vertical distance between the fixed Cost and the total cost curve represent?
total variable cost
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.
Is the area under the marginal cost curve equal to the total variable cost?
yes
What does the total area under a density curve equal?
The integral of the density with respect to the variable against which the density is plotted, between the values at the ends of the curve. Since there is no information given as to what the density is plotted against, a more informative answer is impossible.
Relationship between marginal cost and average total cost?
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.
What is difference between chronological load curve and load duration curve?
Load duration curve represents re-arrangement of all load elements of chronological load curve in the order of descending magnitude. It illustrates the relationship between generating capacity requirements and capacity utilization.The area under the load duration curve and the corresponding chronological load curve is equal and represents total energy delivered by the generation station.
How does the law of variable proportion affect the cost curve?
The law of variable proportion states that as one input is increased while keeping other inputs constant, the output will eventually decrease. This can lead to changes in the cost curve by affecting the cost of production as more or less of a variable input is used, impacting both marginal and average cost.
Relationship between the variable length time and speed?
I would prefer to use "distance" instead of "length".distance = speed x time
What is the difference in a movement along the demand curve and a shift in the total curve?
Distinguish between the movement along the demand curve and shift in demand curve with the assistance of suitable graphs and explanations?
The long run average total cost curve?
The long run average total cost curve is the lowest average total cost for producing each level of output. It depicts the per unit cost of producing a good or service in the long run when all inputs are variable.
What is an r squared value?
R squared also called the coefficient of determination is the portion (%) of the total variation of the dependent variable that is explained by the variation in the independent variable. This is found by dividing the sum of squared regression (SSR) by the total sum of square errors (SST) that is R^2 = SSR / SST.When there is a perfect linear relationship between the variation of the dependent variable y and the variation of the independent variable x R^2 is equal to 1.The R^2 for any weaker linear relationships will range between 0 and 1 exclusive.Finally when there is no relationship between the variations of the y as a result of the variation in x R^2 is equal to 0.
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.
