For any given level of output

Assignment Help Business Economics

Reference no: EM13774268

For any given level of output:

A) marginal cost must be greater than average cost.

B) average variable cost must be greater than average fixed cost.

C) average fixed cost must be greater than average variable cost.

D) fixed cost must be greater than variable cost.

E) None of the above is necessarily correct.

Reference no: EM13774268

Questions Cloud

What level of output is his total revenue maximized : A monopolist faces the inverse demand curve p = 64 - 2q. At what level of output is his total revenue maximized?

What is the socially efficient level of security : Three stores have a problem with theft, and security is a public good. Let’s use S to stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 100 2..

Calculate the magnitude of the deadweight loss resulting : Two hundred paper mills compete in the paper market. The total cost of production (in dollars) for each mill is given by the formula TC = 500Qmill + (Qmill) 2 where Qmill indicates the mills annual production in thousands of tons. The marginal cost o..

Firms expansion path represents labor and capital inputs : A firm's expansion path represents labor and capital inputs that minimize the cost of production associated with each output level. If a firm uses only two factors of production, one of whose marginal product becomes negative when its use exceeds a c..

For any given level of output : For any given level of output:

A goatherd has the cost function : A goatherd has the cost function c(y) = 2y2, where y is the number of tubs of goat cheese she makes per month. She faces a competitive market for goat cheese,with a price of $40 a tub. How many tubs should she produce per month?

Burning the coke deposited on the catalyst particles : Burning the coke deposited on the catalyst particles generates all the heat necessary for catalytic cracking. Therefore, the coke burning rate is a critical parameter to control the rate of cracking. The composition of dry flue gas from the regenerat..

Suppose that the equilibrium nominal exchange rate : Suppose that the equilibrium nominal exchange rate is 130 Japanese yen to the U.S. dollar. If the Federal Reserve wishes to maintain an exchange rate of 140 Japanese yen to the U.S. dollar, it must meet the private excess ________ dollars in the fore..

Which testing company should be picked if the project manage : A Project Manager wants to pick the most efficient vendor to test a new prototype. He has previous experience with 3 testing companies. Prototype testing is a highly variable activity as shown in the table below. (HINT: For example, Company X complet..

User Account

All Pages