Question: Average variable cost is found by dividing ________. a) variable cost by output b) output by variable cost c) marginal cost by output d) output

Average variable cost is found by dividing ________.

a) variable cost by output

b) output by variable cost

c) marginal cost by output

d) output by marginal cost

Step by Step Solution

★★★★★

3.50 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The correct answer is a variable cost by output Heres w... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Microeconomics Questions!

Q:

A competitive firm has the following short-run cost function: c(y) = y3 8y2 + 30y + 5. (a) The firms marginal cost function is ___________. (b) The firms average variable cost function is...

Q:

Multiple Choice Questions: 1. Which of the following is always true? a. When marginal cost is less than average total cost, average total cost is increasing. b. When average fixed cost is falling,...

Q:

A perfectly competitive firm faces a price of 10 and is currently producing a level of output at which marginal cost is equal to 10 on a rising portion of its short- run marginal cost curve. Its...

Q:

18. The marginal cost curve intersects at its/their minimum point(s). (LO5) a) the ATC, but not the AVC b) the AVC, but not the ATC c) both the ATC and the AVC d) neither the ATC nor the AVC 19....

Q:

Question 46 Average variable cost is found by dividing (LO4) variable cost by output output by variable cost O marginal cost by output () output by marginal cost Previous

Q:

Average variable cost is found by dividing . (LO4) a) variable cost by output b) output by variable cost c) marginal cost by output d) output by marginal cost

Q:

A balance sheet shows: A: the assets, liabilities, and owner's equity of a particular business. B: a business's profit. C:all costs incurred over a period of time. D: a business's activities over a...

Q:

| 5) Suppose a firm's fixed is equal to 500 and average variable cost function is: AVC=100-6Q+0.20 where represents the amount of output produced. a) Calculate following costs: (i) Variable cost;...

Q:

Question 1 (0.3125 points) In which of the following market structures is the barrier to entry the strongest? perfect competition monopoly O oligopoly monopolistic competition Question 2 (0.3125...

Q:

Answer all the questions below: A firm's total fixed costs are $1,200. If at a certain output level, its average costs per unit are $12 and the average variable cost per unit is $8, then the level of...

Q:

What is the purpose of the SECs integrated disclosure system for financial reporting?

Q:

In conducting the voir dire examination for the trial of Bill Allen v. Laiden Trucking Company, Allens attorney, Jan Heisman, got the following response from a prospective juror: Heisman: Have you...

Q:

Discuss the focus strategy as per Porters generic strategy model.

Q:

If there are differences in opinion, each individual uses the feedback from other experts to fine-tune his or her independent assessment. LO.1

Q:

1. For each of the following pairs of population groups, indicate which group has a higher poverty rate: _________ White, _________ Hispanic _________ White, _________ Asian_________ Married...

Q:

1. For each of the following pairs of population groups, indicate which group has a higher poverty rate: _________ White, _________ Hispanic _________ White, _________ Asian_________ Married...

Q:

1. For each of the following pairs of population groups, indicate which group has a higher poverty rate: _________ White, _________ Hispanic _________ White, _________ Asian_________ Married...

Q:

Question 13 Kindle Fire Prevention Corp. has a profit margin of 4 percent, total asset turnover of 3, and ROE of 24 percent. What is this firms debtequity ratio?

Q:

Select the necessary words from the list of possibilities to complete the following statements

Q:

Keesha Compary borrows $200,000 cash on November 1 of the current year by signing a 90 -day, 9%,$200,000 note. (Click on the Chart of Accounts Tab below.)