need some help thank you. Given the following information about the cost functio

Question

need some help thank you.

Given the following information about the cost function for Bob's Beautiful Bowling Balls: Which of the following is true? The total cost of producing 5 units is $230. AVC falls through the first five units of output. The marginal cost of the 4th unit is lower than for any other unit. The average fixed cost of producing 3 units is $200. None of the above is true. Which of the following is true in the short run? When ATC is at its minimum point, AVC is rising. MC = ATC at the lowest point of ATC. MC = AVC at the lowest point of AVC. When AVC is at its minimum point, ATC is falling. All of the above are true. If a firm experiences increasing returns to scale at all levels of output: the slope of its short-run average cost curve is everywhere negative. the slope of its production function is everywhere negative. the slope of its long-run average total cost curve is everywhere negative. the slope of its long-run total cost curve is everywhere negative. Constant returns to scale indicate that a firm is experiencing: an increasing marginal product. per unit costs of production that are increasing as the scale of output expands. per unit costs of production that remain stable as the scale of output expands. per unit costs of production that are decreasing as the scale of output expands. Diseconomies of scale are associated with: a downward sloping long-run average total cost curve. a horizontal long-run average total cost curve. an upward sloping long-ran average total cost curve. a vertical long-run average total cost curve. none of the above.

Explanation / Answer

76)C

77) e

78) C

79) C

80) C

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