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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 does a demand curve show?
The upward movement of the demand curve indicates the rising demand of the product, whereas downward movement of the demand curve indicates falling demand.
Why marginal product curve intersect the average product curve at the maximum?
of average product.
Marginal product curve?
A marginal product curve is a visual presentation that demonstrates the relationship between the marginal product and the quantity of its input. All other inputs are fixed.
How do falling prices effect supply?
The supply curve shifts to the left
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 diagram and explain The classical curve of economics?
How do you draw the total product Curve:
What does a demand curve show?
The upward movement of the demand curve indicates the rising demand of the product, whereas downward movement of the demand curve indicates falling demand.
Why marginal product curve intersect the average product curve at the maximum?
of average product.
How is the law of diminishing returns reflected in the shape of the total product curve?
The total product curve increases rapidly reaching a peak at a specific amount and then decreases slowly as the x axis is traversed. This decreasing function demonstrates that there is a maximum amount of effort (labor or monetary) that can be applied before the overall results suffer.
Marginal product curve?
A marginal product curve is a visual presentation that demonstrates the relationship between the marginal product and the quantity of its input. All other inputs are fixed.
How do falling prices effect supply?
The supply curve shifts to the left
How can one determine the marginal revenue curve for a business?
To determine the marginal revenue curve for a business, you can calculate the change in total revenue from selling one additional unit of a product. This can be done by subtracting the total revenue from selling the current quantity of products from the total revenue from selling one more unit. The resulting values can then be plotted on a graph to create the marginal revenue curve.
What factors contribute to the shape of a unit elastic demand curve for a product?
The shape of a unit elastic demand curve for a product is influenced by factors such as the availability of substitutes, the necessity of the product, and the proportion of income spent on the product.
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
What is the MPN curve How is the MPN curve related to the production function?
What is MPN product description for an ipod touch?
What is a demand curve?
Demand curve describes the relationship between the product price and the number of the product demanded through the use of graph. This is also an illustration of demand schedule.
