User Account

All Pages

Average cost includes both fixed and variable costs

Assignment Help Microeconomics
Reference no: EM13676731

(a). "Average cost includes both fixed and variable costs, whereas the marginal costs include only variable costs. Therefore, marginal cost is never greater than the average cost." Comment on this statement. (b). Explain your rationale by considering short-run production conditions.

Reference no: EM13676731

Questions Cloud

Manufacturing firm operating a given scale of plant : Consider a manufacturing firm operating a given scale of plant
Determine the force required to pull : A thin 1.1 millimeter coating of glycerin has been located between two microscope slides of width 1 centimeter and length 4 centimeter. Determine the force required to pull one of the microscope
Find what is the magnitude of the electric potential : A solid conducting sphere (radius = 5.0 centimeter) has a charge of 0.25 nC distributed uniformly on its surface. find what is the magnitude of the electric potential difference between these two points
Obtain how far does the hamster run in one night : A hamster runs in its wheel for 3.3 hours every night. If the wheel has a 6.8 centimeter radius and its average angular velocity is 3.0 rad/s, obtain how far does the hamster run in one night
Average cost includes both fixed and variable costs : Average cost includes both fixed and variable costs
Analyse the promise and challenges associated : Explain whether you believe this will happen. Analyse the promise and challenges associated with this supply source.
Evaluate what the mass of the aluminum cup : An aluminum cup contains 225 gram of water and a 40 gram copper stirrer, all at 27°C. Evaluate what the mass of the aluminum cup
Evaluate the magnitude of the normal force of table on block : A 7 kilogram box is resting on a table. You push down on the box with a force of 8 Newton. Evaluate the magnitude of the normal force of table on block
Evaluate what is its velocity : A rocket skateboard of mass 3 kilogram has an initial velocity of (5.00, 2.50) m/s. A net force of (3.40, 2.67) Newton is applied to it for 10 second. At the end of this time, evaluate what is its velocity

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd