select the letter that contains the word, phrase, name, etc that best matches th
ID: 1139539 • Letter: S
Question
select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. Marginal Cost (MC) A. A company experiencing diseconomies of scale B. Average fixed cost (AFC) Diminishing Marginal Retuns sets in Average variable cost (AVC) is falling A Q Economies of scale D. MC is falling E. is nsing, where Q = total output and L = labor or variable input All costs are fixed or constant DThe introduction of the moving assembly E -ATC-AVC dropped the assembly time for a single vehicle from 12 hours Q AQ line by Henry Ford cont f ach v to about 90 minutes enabling the company to produce more cars/day Mass production drove the cost of each vehicle, G. At the point where a downward sloping marginal cost (MC) curve wward slopng marginal cost M cuve making vehicle ownershipp a reality for more people The long-run average cost curve is rising turns upward H. Marginal cost (MC) is less than average variable cost (AVC) L The law of diminishing marginal retuns doesn't hold because all Long-run inputs are variable J Total Revenue -(Explicit cost+ Implicit cost)-0 K. The average fixed cost (AFC) curve crosses the average 1 Never U-shaped Normal profit vanable cost (AVC) curveExplanation / Answer
Answer : Match the statement :
Option B is correct. Average fixed cost is neither U- Shaped.
1 Marginal cost Option F is correct. =TC/Q= VC/Q 2 Diminishing Marginal returns Option D is correct. It means that decreasing marginal per unit of an output level. 3. Average variable cost Option H is correct.When average variable cost is falling than marginal cost is less than average variable cost. 4 Q/L is rising option I is correct.As law of diminishing Marginal returns does not hold because all inputs are variable. 5 The introduction -------for more people Option C is correct. As company is s facing an Economic of scale.It meabs that proper return has been attained. 6 Long run average cost is rising Option A is correct. When a company has been experiencing an economices of scale. 7. Long run Option K is correct. In long run average fixed cost crosses average variable cost. 8 Never U- ShapedOption B is correct. Average fixed cost is neither U- Shaped.
9 Normal profit Option J is correct. It is an condition where Total revenue - ( Explicit cost+ Implicit cost) 10 Q/L is less than zero Option N is correct. It means that total output declined with each additional unit of output.Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.