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- Claire and Don are farmers who produce beef and com. In a year, Claire can produce 40 tons of beef or 200 bushels of corn. In a year, Don can produce 20 tons of beef or 120 bushels of corn.. To maximize their total output of beef and corn A. Claire and Don each spend half of their time producing beef and the other half producing corn B. Don produces beef and corn while Claire produces nothing C. Claire produces beef and Don produces corn OD. Don produces beef and Claire produces comThe marginal cost (MC) curve intersects the? Select one: O a. ATC and AFC curves at their minimum point O b. ATC, AVC, and AFC curves at their minimum points O c. AVC and AFC curves at their minimum points. O d. ATC and AVC curves at their minimum pointsWhen large retailers like Costco offer products at a discounted price because they are able to negotiate cheaper rates with their suppliers compared to smaller competitors, they benefit from O Availability of compliments. O Learning-curve effects. O Experience-curve effects. Economies of scale.
- 5. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Kenji is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Kenji's free-throw percentage for each game and his overall free-throw average after each game. Game Result Season Total Game Free-Throw Percentage Average Free-Throw Percentage Game 1 80 2 UAWN 8/10 4/10 2/8 2/4 6/8 8/10 12/20 14/28 16/32 22/40 801. Visualizing average costs and marginal costs as a slope? Take an example 2. Long run average total cost curve? Take an example 3. Minimium efficient scale and market concentration? Take an exampleUnder which of the folowing examples is t likaly that the accounting profit is positive and the economic profit is negative? OA Using a restaurant you purchased to sell Menican food instead of talian food. OR It you use a diamond mine as a touriet atraction instead of using it for mining. Oc Opering a bank branch near a university campus. OD. Such a scenario, where accounting cost is positive and economic profit is negafive, is not possibie.
- A. Graph AFC, AVC, ATC and MC B. Explain the derivation and shape of each of these four curves and their relationships to one anotherpecifically explain in non-technical terms whyhomework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA CORRESPONDENCIA Diana Arenas - REFERENCIAS REVISAR VISTA X Cortar A Buscar - -|11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCcC AABI AaBbCcD ab Copiar Sac Reemplazar 1 Normal 1 Sin espa. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² A - aby - A Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 1. Inefficient allocation of resources occurs when A. society is operating at a point low on the production possibilities frontier B. society is operating at a point high on the production possibilities frontier C. no one can be made better off without having someone else give up something D. it is possible to make some people better off without making others worse off. 2. The marginal revenue curve for a monopolist is always below the demand curve. True or false 3. Under a systems of laissez-faire, output selection is determined by…5 CUPS OF COFFEE 4 3 2 K Graph (a) 13 N M 2 3 4 5 6 DONUTS Refer to Figure 2-4, Graph (a). Production is O a. possible at points J, L, M, and N, but efficient only at points J, L, and M. O b. possible at points J, K, L, and M, but efficient only at point K. O c. possible at points J, L, M, and N, but efficient only at point N. O d. possible at points J, K, L, and M, but efficient only at points J, L, and M. CUPS OF COFFEE 5 3 2 1 Graph (b) 1 2 3 4 5 6 DONUTS
- 4. Complete the table below Output VC FC TC AVC AFC ATC 30 4 2 40 3. 48 4 63 5 46 6. 70please use following information that has been filled out to fill out next 2 graphs.Cost (dollars per bagel) 0 MC ATC AVC 5 10 15 20 25 30 35 40 45 50 Quantity (hundreds of bagels per day) Select one: O a. up to 500 bagels O b. up to 3500 bagels O c. up to 3000 bagels O d. up to 2000 bagels The above figure shows the costs at Barney's Bagel Bakery. Up to which level of output will increasing marginal returns in production be experienced at Barney's Bagel Bakery?