4) Which of the following cost curves is upward sloping at any output level? Average fixed cost (AFC) curve O Variable costs (VC) curve O Marginal cost (MC) curve Fixed costs (FC) curve

estion 4 of 30 Each graph illustrates three short run cost curves for firms, where ATC is average total cost (aka average cost), MC is marginal cost, and AVC is average variable cost. Which graph correctly represents the relationship between all three cost curves? О Cost MC Cost ATC MC ATC AVC AVC Output Output Cost MC Cost MC АТС AVC AVC АТС Output Output 8:14 PM 回节 回 46°F 12/15/2021 近

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3) Which of the following is not true about the marginal cost? Oo The marginal cost (MC) curve is U shaped. It can be calculated by dividing the change in the total cost by the change in the output. It is the additional cost incurred by a firm from changing output by a certain amount. It can be calculated by dividing the total cost by the quantity.

S Costs 35 3:0 25 20 15 10 0 2 3 Quantity (Vats of juice) E Marginal Cost O Search Average Variable Cost Average Total Cost Which of the following statements are true according to the previous graph? Check all that apply. The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising. The marginal-cost curve lies below the average-variable-cost curve. C (((.

K A cereal factory has weekly fixed costs of $22,000. It costs $1.26 to produce each box of cereal. A box of cereal sells for $4.06. Find the rule of the cost function c(x) that gives the total weekly cost of producing x boxes of cereal. OA. c(x)=1.26x OB. c(x)=22,000+ 1.26x OC. c(x)=22,000 +4.06x OD. c(x)=22,000+ 2.8x

Question 8 Which of the following is not a variable cost at the sandwich shop? O Cost of labor Cost of tomatoes O Cost of delivery Cost of rent Question 9

QUESTION 6 At a total cost of $3,100, a company can produce 4 scooters. It has fixed costs of $1,000. If it produces 5 scooters, the costs of production total $3,800. Which of the following statements is true? O Variable costs of producing 4 scooters total $3096. O The average (or per unit) cost of producing 5 scooters is $800 per scooter The total cost curve for this firm is downward sloping Fixed costs will be higher when it produces 5 scooters The marginal cost of producing the fifth scooter is $700

Consider the production of hamburgers. The average total cost (ATC) and average fixed cost (AFC) of producing hamburgers are illustrated in the graph to the right Use the four-point curve drawing tool to graph the average variable cost of producing one, two, three, and four thousand hamburgers. Properly label this curve Carefully follow the instructions above, and only draw the required objects. Cost (cente per unit) 26 24- 22- 20 18- 16 14- 12- 10 B 6 4- 2 ATC AFG Quantity of hamburgers (in 1000s) Q du

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