Write about upward sloping marginal cost curve

Assignment Help Microeconomics

Reference no: EM13825506

Questions-

1. The marginal cost curve is assumed to have an upward slope because of:

A) AFC sloping downward.

B) the law of diminishing returns.

C) economies of scale.

D) ATC increasing as more units are produced.

2. According to the following table, diminishing returns occur after hiring which worker?
Production in the short run

Labor   Total product
0                 0
1                 5
2                 13
3                 18
4                 24
5                 28

A) 1

B) 2

C) 3

D) 4

Additional Information-

These multiple choice questions belong to Economics. The first question is about upward sloping marginal cost curve and the second question is about diminishing returns occurring in the short run.

Reference no: EM13825506

Questions Cloud

The entry to record bank service charges : After the bank reconciliation is prepared, the entry to record bank service charges would have a credit to:

In bank reconciliation-deposits in transit : In a bank reconciliation, deposits in transit should be:

Inventory method might expected to give highest income : During a period of rising prices, which inventory method might be expected to give the highest net income?

Operations management in changing global environment : Operations Management in Changing Global Environment

Write about upward sloping marginal cost curve : These multiple choice questions belong to Economics. The first question is about upward sloping marginal cost curve and the second question is about diminishing returns occurring in the short run.

Cost of ending inventory using weighted-average : Frick Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. The cost of endi..

Movement of general population : Why were immigration and westward movement of general population so important in development of industrial relations in United States?

Merchandise was returned and the remaining amount due : A business purchased merchandise for $12,000 on account; terms are 2/10, n/30. If $2,000 of the merchandise was returned and the remaining amount due was paid within the discount period, the purchase discount would be:

Operating revenues and cost of goods sold : A classified income statement consists of all of the following major sections except for: Operating revenues. Cost of goods sold. Operating expenses

User Account

All Pages