FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2: A. Output Total cost Total Marginal Average Average (TC) Variable Cost Cost (AV) Variable Cost (TVC) (MC) Cost (AVC) 0 40 40 68

image text in transcribed
Question 2: A. Output Total cost Total Marginal Average Average (TC) Variable Cost Cost (AV) Variable Cost (TVC) (MC) Cost (AVC) 0 40 40 68 3 128 B. Is the firm operating in the short run or long run? Explain. The answer is the average variable cost is equal to the average cost minus the average fixed cost. The average cost has two components in the short run. They are the average fixed cost and the average variable cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Justice In A Global Economy Strategies For Home, Community, And World

Justice In A Global Economy Strategies For Home, Community, And World

Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers

1st Edition

0664229557, 9780664229559

More Books

Students also viewed these Economics questions

Question

★★★★★
In some criminal cases, the judge and the defendants lawyer will enter into a plea bargain, where the accused pleads guilty to a lesser charge. The proportion of time this happens is called the...

Answered: 1 week ago

Question

★★★★★
Pratt & Whitney, a major aircraft engine manufacturer, wants to re-evaluate the transportation mode it uses to send unfinished parts to its joint-venture facility' in Chengdu, China.6 Annual demand...

Answered: 1 week ago

Question

★★★★★
=+11. Pole vault. Pole vault technology has evolved considerably since the times of the ancient Greeks and even more recently as new materials have found their way into pole manufacturing. There are...

Answered: 1 week ago

Question

★★★★★
Q1. For Lenovo and Hewlett Packard companies listed below, complete the common-size statements by dividing each item on the income statement by sales revenue. Record the resulting common-size...

Answered: 1 week ago

Question

★★★★★
Aquinas assumes the same position as does Maimonides that borrowers can borrow at interest. Aquinas assumes the same position as does Maimonides that borrowers can borrow at interest. True False

Answered: 1 week ago

Question

★★★★★
what are the four steps of capital budgeting analysis? Should financial analysis play the domiant role in capital budgeting decisions? Explain your answer

Answered: 1 week ago

Question

★★★★★
Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

★★★★★
Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago

Question

★★★★★
The following fact pattern applies to questions 1 and 2. Brigid entered into a contract with L. Marcus Marine ("LMM") to perform repairs and updates to her sailboat for $15,000. The work was to be...

Answered: 1 week ago

Question

★★★★★
An SLA manager compares the usage of a system against: Question 1Select one: a. A pay-per-use measurement repository b. An SLA monitor agent c. A quality-of-service measurement repository d. A...

Answered: 1 week ago

Question

★★★★★
1. Is an office romance likely to affect the productivity of the two workers involved? Is it likely to affect the people who work with them?

Answered: 1 week ago

Question

★★★★★
3. Can you think of a situation where employment of married couples would create problems for a firm? Explain your answer.

Answered: 1 week ago

Question

★★★★★
b. Did you suppress any of your anger? Explain.

Answered: 1 week ago

Previous Question Next Question