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 2 Answer a. above, down, below, up b. below, up, above, up c. above, up, below, down d. below, up, above, 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 13Answer a. below, up, above,...

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:

On average a certain intersection results in 3 traffic accidents per month. What is the probability that for any given month at this intersection (a) Exactly 5 accidents will occur? (b) Less than 3...

Q:

Q1. Use time and Laplace domain analysis to solve the following differential equation: (10+10) 29(t) + q(t) = 5t q(0) = 5 The table for particular solution is given below: Form of f(t) K Kt K1 K, cos...

Q:

minutes 4 5 seconds 0 1 : 0 7 : 4 5 Item 1 9 Time Remaining 1 hour 7 minutes 4 5 seconds 0 1 : 0 7 : 4 5 Cupola Awning Corporation introduced a new line of commercial awnings in 2 0 2 4 that carry a...

Q:

Task N:1. The workshop produces two types of products. Per unit of production of the first product consumes 7 conventional units (cu.) of the first resource and 5 conventional units(cu.) of the...

Q:

Make eye contact when talking and listening

Q:

Do not go, wait until I come

Q:

Pay him, do not wait until I sign