which of the following statements is true? O since fixed costs are constant as output changes in the short run, it follows that average fixed cost is constant in the short-run too O marginal cost is the additional cost of producing an additional unit of output O changes in variable costs are reflected dollar-for-dollar in total cost OB and C

By doubling a machine's inputs, the output increases three times. How does this affect cost and what does this characterize? O Per unit costs rises, Diseconomies of Scale O Per unit costs falls, Economies of Scale O Per unit costs remains the same, Constant Economies of Scale O Per unit cost rises, Economies of scale Per unit cost falls, diseconomies of scale.

A firm's total cost is $12,000. Its variable cost is $5,500. What is the firm's fixed cost? $3,500 O $2.22 $6,500 O $4,500 Incorrect. none of the other answers are correct

Please help me answer these questions. Thanks in advance

These occur when doubling all of the inputs to a production process doubles the output. The shape of a firm's long-run average cost curve depends both on returns to scale in production and the effect of scale on the prices it pays for its inputs. O Decreasing returns to scale in production O Constrained optimisation problem O Constant returns to scale in production O Decreasing returns to scale

The N.M. Corporation has exactly the same costs of production as last year except for fixed costs, which are $50,000 this year compared to $30,000 last year. Which of the following statements is false? O The total cost curve will be the same this year as last year. O The fixed cost curve will have the same slope this year as last year. O The variable cost curve will be the same this year as last year. O The marginal cost curve will be the same this year as last year.

Cost LRAC B A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run average cost curve for a firm. If the firm increases output from point A to point B this is an example of: Select one: O i. A change in production function O ii. Economies of scale iii. Constant unit cost O iv. Diseconomies of scale

QUESTION 1 When diseconomies of scale occur: CA. the long-run average total cost O B. marginal cost intersects average OC the long-run average total cost O D. average fixed costs curve falls total cost curve rises will rise

You learn that a firm's average total costs (ATC) and average variable costs (AVC) are exactly equal. What does that mean? O Marginal cost is zero O ATC and AVC must be equal to zero O Average fixed costs (AFC) are zero O Economic profit is positive O Economic profit is negative

Bob produces candles. The average total cost reaches its minimum at a quantity O A. the same as the quantity at which the average variable cost reaches its minimum. O B. lower than the quantity at which the average variable cost reaches its minimum. O C. the same as the quantity at which the marginal cost is at a maximum. O D. the same as the quantity at which the marginal cost is at a minimum. O E. greater than the quantity at which the average variable cost reaches its minimum.