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Why does the marginal cost curve cut the average total cost curve at its minimum?
Ur probably in Farzads class... hah xD
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
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 marginal cost and total cost in the production process?
Marginal cost is the additional cost incurred by producing one more unit of a good or service. It is calculated by dividing the change in total cost by the change in quantity produced. Total cost, on the other hand, is the sum of all costs incurred in producing a certain quantity of goods or services. The relationship between marginal cost and total cost is that marginal cost affects the total cost by showing how much the cost increases when producing additional units. When marginal cost is less than average total cost, total cost decreases. When marginal cost is greater than average total cost, total cost increases.
Is falling when marginal cost is below it and rising?
When marginal cost is below average total cost, average total cost tends to fall, as each additional unit produced is less expensive than the average of previous units. Conversely, when marginal cost is above average total cost, average total cost rises, since producing additional units adds more cost than the average. Thus, if marginal cost is falling while it is below average total cost, it could lead to a further decrease in average total cost, while rising marginal cost above average total cost would increase it.
If average total cost is greater than marginal cost average total cost must be increasing is the true or false?
true
Why does the marginal cost curve cut the average total cost curve at its minimum?
Ur probably in Farzads class... hah xD
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
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
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 marginal cost and total cost in the production process?
Marginal cost is the additional cost incurred by producing one more unit of a good or service. It is calculated by dividing the change in total cost by the change in quantity produced. Total cost, on the other hand, is the sum of all costs incurred in producing a certain quantity of goods or services. The relationship between marginal cost and total cost is that marginal cost affects the total cost by showing how much the cost increases when producing additional units. When marginal cost is less than average total cost, total cost decreases. When marginal cost is greater than average total cost, total cost increases.
Is falling when marginal cost is below it and rising?
When marginal cost is below average total cost, average total cost tends to fall, as each additional unit produced is less expensive than the average of previous units. Conversely, when marginal cost is above average total cost, average total cost rises, since producing additional units adds more cost than the average. Thus, if marginal cost is falling while it is below average total cost, it could lead to a further decrease in average total cost, while rising marginal cost above average total cost would increase it.
When marginal cost is less than the average total cost the average total cost is falling why?
as a marginal cost is the cost of the next product produced, if this is less than average cost, when you continue to produce more products the lower marginal cost will have an affect on the average and cause it to fall.
When average product is highest Options Total product is maximum Marginal product is maximum Marginal product is zero Marginal product is negative?
Negative
When the average total cost is at its minimum is it greater than MC equal to MC or smaller than MC?
Equal to MC.
How does a monopolistically competitive firm determine its profit-maximizing price?
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co
Find the marginal and the average cost function for the following total cost function?
Find (i) the marginal and (2) the average cost functions for the following total cost function. Calculate them at Q = 4 and Q = 6.
