Solved

-Sandra's Sweaters' Production Function Is Shown in the Above Table

Question 262

Multiple Choice

-Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. If the rental rate of capital rises to $50 per machine a day, Sandra's ________ curve shifts upward. A) average variable cost B) total variable cost C) average fixed cost D) marginal cost
-Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. If the rental rate of capital rises to $50 per machine a day, Sandra's ________ curve shifts upward.


A) average variable cost
B) total variable cost
C) average fixed cost
D) marginal cost

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q257: Health care costs rose more than 10

Q258: The range of output over which a

Q259: The long-run average cost curve is the<br>A)

Q260: The output at which average variable cost

Q261: When the marginal and average products of

Q263: Minneapolis business Rogue Chocolatier sells specialty chocolate

Q264: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Silvio's Pizza is

Q265: The law of diminishing returns implies that,

Q266: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The average total

Q267: A firm increases both its plant and