46) The downward sloping segment of the long run average cost curve corresponds

Question

46) The downward sloping segment of the long run average cost curve corresponds to
a) diseconomies of scale.
b) both economies and diseconomies of scale.
c) the decrease in average variable costs.
d) economies of scale.

47) Which statement is true?
a) Fixed cost rises as output rises.
b) Variable cost falls as output rises.
c) At an output of zero, total cost = zero.
d) None is true.
48) A firm has a fixed cost of $2,000, and at an output of one, variable cost is $1,500. How much is marginal cost at an output of 1?
a) $1,000
b) $1,500
c) $2,000
d) $3,500
e) There is insufficient information to find marginal cost at an output of 1
49) Which of the following is TRUE at the point where diminishing returns set in?
a) Both marginal product and marginal cost are at a maximum.
b) Both marginal product and marginal cost are at a minimum.
c) Marginal product is at a maximum, and marginal cost is at a minimum
d) marginal product is at a minimum, and marginal cost is at a maximum
50) Which of the following is typically regarded as a fixed cost?
a) shipping costs
b) insurance payments
c) raw material costs
d) wages
.

Explanation / Answer

the answer will be OPTION d c b a c

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