Question: If marginal cost is ______ average cost, it will drive the average cost _____. If marginal cost is _____ average cost, it will drive the

If marginal cost is ______ average cost, it will drive the average cost _____. If marginal cost is _____ average cost, it will drive the average cost _______. Question 13Answer a. below, up, above, up b. above, down, below, up c. below, up, above, down d. above, up, below, down

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!

Q:

If marginal cost is ______ average cost, it will drive the average cost _____. If marginal cost is _____ average cost, it will drive the average cost _______. Question 2 Answer a. above, down, below,...

Q:

Hello accountant Please assist me with this question. The computer will mark it so you have to follow these steps in order to get the right answer: Here are some helpful hints in order to score full...

Q:

Question 2(1 point) If a monopolist sets her output such that marginal revenue, marginal cost and average total cost are equal, economic profit must be: Question 2 options: Zero Negative Positive...

Q:

Question Completion Status: QUESTION 22 To the economist, total cost includes: O explicit, but not implicit, costs. O explicit and implicit costs. O neither implicit nor explicit costs. O implicit,...

Q:

The Laws of Return operates in the: A.Long run B.Short run C.Medium term D.The very long run Reset Selection Question 16 of 30When marginal product is above average product, average product is:...

Q:

this is a multi part case study question please solve it and provide all calculations and formulae and relevant information such as references as asked in the question, thank you! For your...

Q:

Fill in the blank with the correct multiple choice Question 1 The most fundamental feature of a perfectly competitive market is that is supplied by _____ usually quite _____enterprises. few, small...

Q:

Question 3 (Chapter 3) A labor market has, like any other market, has both a demand side and a supply side. More specifically, the employer is the buyer of labor; the job seeker is the seller of...

Q:

Consider this calibrated model of U.S. health insurance in 2019 under adverse selection: Demand for insurance: P=26,00075Q Marginal cost: MC=13,00041.67Q Average cost: AC=13,00020.83Q where Q is...

Q:

Consider the following production and cost schedule for a firm. Production Costs Labor Output MPL APL FC VC TC MC AVC ATC 0 0 ----- ----- 200 0 200 - 1 10 10 10.00 200 100 300 10.00 30.00 10.00 2 25...

Q:

______ is the degree to which the job allows the incumbent to complete an identifiable work product and see clearly tangible or perceivable outcomes. Skill variety Task identity Autonomy Task...

Q:

You want to have $6,000,000 in an account exactly 16 years from today. They will make equal quarterly payments of $20,000 beginning next quarter and ending in 16 years. The account earns 8.00% p.a.,...

Q:

If an investor wants to receive the recently declared dividend, she must purchase the shares _____________blank or more business day(s) prior to the date of record. Multiple Choice three two one four...

Q:

Working capital accounts include: Question 23 options: all assets. all assets and liabilities. current assets and all liabilities. current assets and current liabilities

Q:

5. What do we mean when we say that social facts are mental constructions? Explain this with an example from your own everyday life.

Q:

4. What is meant by the following statement, What we take for granted in a social situation may actually prove to be mechanisms that govern how we evaluate and act in the situation?

Q:

6. What is meant by the following statement, the methods used to uncover (construct) reality guide our thinking and actions in relation to this reality?