a. When output is 10, total variable cost is $ b. When output is 20, average fixed cost is $ c. When output is 30, average variable cost is $ d. When output is 40, average total cost is $ e. When output is 50, marginal cost is $

Assume workers in labour market M are qualified to work in an alternative competitive labour market N, and vice versa. What will happen to the wage rate and level of employment in market M if there is an increase in the demand for labour in market N?

The marginal cost curve intersects the short-run average total cost curve where: A. average variable costs are maximized in the short run. B. average variable costs are minimized in the short run. C. average total costs are minimized in the short run. D. marginal cost is minimized in the short run.

As long as marginal cost is below average cost, average cost will be a. falling b. rising. c. constant. d. changing in a direction that cannot be determined without more information.

Which of the following statement is correct? a. Marginal cost will equal average total cost when marginal cost is at its lowest point. b. When marginal cost is less than average total cost, average total cost will rise. C. When marginal cost is greater than average total cost, average total cost will fall. d. Marginal cost will equal average total cost when average total cost is at its lowest point.

The government imposes a $1,000 one-time license fee on all pizza restaurants.  As a result, which of the following cost curves shift, and why or why not?a. Average total cost.b. Marginal Cost.c. Average Variable Cost.

Solve for the missing entries in the above table. Enter whole dollar values for Total and Marginal Cost calculations. Round all average cost calculations to the nearest cent. Enter your answers in the following format: A. $5 B. $18 C. $40 etc. (Note, this is just an example, these are NOT the correct answers.)

If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing if any?   A. The average cost must be rising. B. The average cost would equal 0. C. The average cost must be falling. D. The average cost is unaffected. E. The average cost would become non-existent.

Question 19 of 20 > (TC is total cost; VC is variable cost; Q is quantity.) ΔΤC . а. b. The amount by which total cost increases when an AQ additional unit is produced: Marginal cost Average (total) cost Average variable cost TC d. The total cost divided by the quantity of output: с. e. The change in total cost divided by the change VC f. in output: g. The sum of all costs that change as output changes divided by the number of units produced:

Given the cost information below, answer the following questions. Output Total Cost $10.00 10 88.40 20 133.20 30 158.80 40 179.60 50 210.00 Instructions: Enter your answers rounded to two decimal places. a. When output is 10, total variable cost is $ b. When output is 20, average fixed cost is $ c. When output is 30, average variable cost is $ d. When output is 40, average total cost is $ e. When output is 50, marginal cost is $