Question: if marginal cost is declining then average variable cost and average total cost both be rising

if marginal cost is declining then average variable cost and average total cost both be rising

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:

Hi Tutors, I think I have the table filled out correctly but I'm not understanding the bottom part. Can you help? Pictures are attached for clarification. Thank you! 7 . Problems and Applications Q4...

Q:

create a chart that displays your short-run costs. You will need to include number of workers, output, marginal product, fixed cost, variable cost, total cost, change in total cost, marginal cost,...

Q:

It is the month of December, which is past the peak season for producing rye. At the current level of output of 600 units of wheat, the following data exists: Price = $8 Marginal cost = $6 Marginal...

Q:

Which of the following best describes the relationship between the average total cost curve and the marginal cost curve in the short run? If the average total cost curve is rising, the marginal cost...

Q:

Questions 1-8 1. Given the demand and supply for water dispensers : Qd = 800 - 16 P Q1= - 80 + 16p 1. The market equilibrium price is ? 2. The market equilibrium quantity is ? 3 . what is the value...

Q:

1. Using supply and demand analysis, which of the following is true? A. The burden of a tax on production cannot be determined on the basis of who actually pays the tax. B. The burden of a tax on...

Q:

Question 1 (5 points) ) Listen The curve shows how the quantity supplied by an industry depends on the market price, given a fixed number of producers. O a) critical analysis (b) long-run industry...

Q:

you will be given a scenario that would cause a shift in supply or demand. You will also be required to show how price/quantity changes as Supply and Demand shifts. You can use Microsoft Word or...

Q:

Safari File Edit View History Bookmarks Window Help 11120 Q Sun Dec 11 2:09 PM ... ocmoodle.oldscollege.ca () C + 88 H Olivers wu Lesso... c | Cheg. Final Ex... *Cours... Sign in [Solve... D DAZN......

Q:

Please see the attached07. Match the correct term to each descriptions. Match the correct term to the description: What is the term for the rising portion of its marginal cost curve above its average...

Q:

Use Itos Lemma to evaluate d [ln (S) ]. For the following four problems, use Itos Lemma to determine the process followed by the specified equation, assuming that S(t) follows (a) Arithmetic Brownian...

Q:

Label each of the following statements as true or false, and then justify your answer by referring to specific statements in the chapter. (a) The simplex methods rule for choosing the entering basic...

Q:

The important legal concept of " " has been defined as not doing something that a reasonable person would do , or doing something that a reasonable person would not do .

Q:

QUESTION 18 The political party with the majority of seats in Congress Also holds the majority of seats on each committee and subcommittee Has no effect on the majority of seats on each committee and...

Q:

5. What is meant by the statement, when we attribute a different meaning to a situation, the situation will consequentially change for us?

Q:

10. Using a conflict in your local community as your starting point, discuss how conflicts can be resolved using the following strategies: a) Making the cake bigger b) Providing compensation that is...

Q:

9. What is meant by the statement, the context is only relevant to us if we understand what it is trying to say?