Multiple Choice
If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from 20 to 21 units of product the
A) marginal cost is decreasing.
B) marginal cost equals average total cost.
C) marginal cost equals average variable cost.
D) average total cost equals average variable cost.
Correct Answer:
Verified
Correct Answer:
Verified
Q414: If the average product of labor equals
Q415: Economies of scale are indicated by<br>A)the rising
Q416: Marginal product of labor refers to the<br>A)last
Q417: Answer the question on the basis of
Q418: Answer the question on the basis of
Q420: The range over which average variable cost
Q421: Average fixed costs for a given level
Q422: What effect does the increase of the
Q423: With fixed costs of $400, a firm
Q424: The ability of Intel to spread product