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Answer these questions: Question 9 Examine the graph below. The point of efficient scale is at point SRATCS E SRATC1 SR SRATC LRATC Average Cost
Answer these questions:
Question 9 Examine the graph below. The point of efficient scale is at point SRATCS E SRATC1 SR SRATC LRATC Average Cost (dollars) SRATC2 SRATCA BCD Quantity of Output O A. O B. O C. OD.Question 34 1 pts Use the graph. When the marginal product of labor curve is above the average product of labor, the average product curve is Total Product L1 L2 L3 AP CAMP L1 L2 L3 Units of Labor, L rising. falling. constant. none of the above.Question 14 1 Using the table, the average product of labor for three workers is Labor VCRs Avg. Product (input) MP (output) 0 0 0 1 5 5 5 2 15 10 7.5 3 22 7 4 27 5 6.75 5 30 3 6 6 29 -1 0 7. O 6.75. O 7.5 7.33.Question 23 1 pt Examine the graph below. The maximum efficient output of bicycles for this firm is VC 8000- 7000- VC 7000- 5000-- 4000- 3000- 2000- 1000- 10 15 20 25 30 35 40 45 50 Bikes 47 bicycles. 30 bicycles. 50 bicycles. 10 bicycles.Question 12 1 pts Examine the graph below. The intersection of the marginal product and average product curves occurs at the average product curve's Total Product L1 L2 AP CAMP L1 L2 L3 Units of Labor, L minimum. maximum. intercept. only a and c.Question 33 1 pts According to the graph, at the output level where average variable cost is a minimum, MC ATC -AVC AFC MC = AVC AVC = FC ATC = AFC MC = AFCQuestion 24 1 pts Marginal cost is equal to both average variable cost and average total cost when MC ATC -AVC AFC average total cost and average variable cost are decreasing. average variable cost and average total cost are at their minimums. the marginal product of labor is increasing. O total fixed costs are large relative to variable costsStep by Step Solution
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