Question: Explain why margin (marginal) costs are considered the glue that binds average variable cost and average total cost? Finally, what are some industry examples that

Explain why margin (marginal) costs are considered the "glue" that binds average variable cost and average total cost? Finally, what are some industry examples that might illustrate economies of scale, diseconomies of scale, and constant returns to scale?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 Economics Questions!

Explain why margin (marginal) costs are considered the "glue" that binds average variable cost and average total cost? Finally, what are some industry examples that might illustrate economies of...

5. Explain why marginal cost is the glue that connects average variable cost and average total cost. 6. Compare the short-run and long-run cost curves. In a few sentences, explain their differences....

Even numbers only please and thank you! Chapter 9 or 22 Perfect Competition: Pre - Class & In -Class Activities Packet Part 2. Matching: Match the Key terms in Column "A" with the textbook...

Question about economic, please help me~~~~~ Question A2 (15 marks) [a] Jackson is an engineer in an international company. His annual income is $3 million a year. Due to the outbreak of Coronavirus...

5:17 K MICROECONOMICS -... Q Microeconomics - Chapter 9 Homework Score: 10 Points NAME: DATE: 1. The S.S.K Allen Fabric Company sells cotton fabric in a perfectly competitive market at a price of $4...

1. Which of the following products would be considered scarce? A. Golf clubs B. Picasso paintings C. Apples D. All of the above are correct. 2. Which of the following is a principle concerning how...

11-From statements given below, select the incorrect one O A positive income elasticity of demand coefficient indicates that a product is a normal good O A positive income elasticity of demand...

question 54: Which of the following is considered a basic economic question? What are the most advantageous terms of trade? When does marginal cost equal marginal benefit? Which economy enjoys a...

To answer these questions, you will need to read Chapter 9, Market Equilibrium & Product Price - Imperfect Competition and please good Good format. #. Explain the 3 types of "Imperfect" market...

Briefly discuss the cost-volume-profit analysis model and how it is used. Use the attached PDF. APA Citation. 300 words. REVISED PAGES 3 Chapter Three 1 Fundamentals of Cost-Volume-Prot Analysis...

Write an algorithm for counting sort. Apply counting sort algorithm to sort elements in the array A [111] = [15, 19, 70, 8, 20, 19, 18, 15, 8, 3, 70]. Explain the counting sort procedure step by step...

The solid E in the first octant of 3-space shown in I is bounded by the cylinder z = 1-2 and the planes x = y, y = 0, 2 = 0. Y

Which of the following features is characteristic of a payback period? uses discounting ignores cash flows beyond the payback period equivalent to net present value considers time value of money

Using the 2020 trial balance and additional information below, prepare the projected (2021) financial statements for Walnut Grove. The prior year data (provided) is the starting point for your...

Garden Inc. manufactures and sells small garden sets. The company currently manufactures and sells three models: Standard, Comfortable, and Deluxe. For the 2020 financial year, the budgeted average...

Question 5 (10 points) Listen If Sharon's strategy to meet the forecasted demand is focused on the trucking strategy only would GP supply chain be considered uncoupled or holistic? Explain the...

Determine the maximum flow rate for the clarification of a suspension of lysed Escherichia coli cells by a plant scale disk centrifuge based on laboratory data. The plant centrifuge has a bowl...

As the chief engineer of a small fabrication shop, Brenda Tolliver refers to herself as a "jack-of-all-trades." When an order for a new product comes in, Brenda must do the following: 1. Design the...

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Pay him, do not wait until I sign

Tell what you mean without sounding too dominant, i.e. show authority without sounding instructive

Speak clearly and distinctly with moderate energy