possible answers a. short run, long run b. 1 through 3, 1 through 6, 2 through 4

Question

possible answers

a. short run, long run

b. 1 through 3, 1 through 6, 2 through 4, 3 through 6

c. Q=2, Q=3, Q=4, Q=5, They are never equal, Q=6 AND decreasing, increasing, at its minimum, at its maximum

d. Q=6, Q=3, Q=4, Q=2, Q=5, They are never equal AND at its minimum, decreasing, at its maximum, increasing

A factory with fixed capital The table below describes a factory's costs (in dollars) when the quantity of capital is fixed. The only two inputs necessary for production are labor (L) and capital (K). The table above represents costs in the Select For what values of output are increasing marginal returns to labor present? Select... At what quantity greater than one are average variable cost (AVC) and marginal cost (MC) equal? Select... At quantities greater than one, AVC is Select... at the point where it equals MC. At what quantity greater than one are average total cost (ATC) and marginal cost {MC) equal? Select... At quantities greater than one, ATC is Select... at the point where it equals MC.

Explanation / Answer

a. short run

b. 2 through 4

c. Q=5 AND at its minimum

d. Q=6 AND at its minimum

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