--%>
Assignment Help - homework help

Average Variable Cost-Average Total Cost-Marginal Cost

Describe the relationship among Average Variable Cost (AVC) Average, Total Cost (ATC) and marginal Cost (MC)?

Answer:

A) If MC < AVC and ATC, AVC and ATC are falling
B) MC cuts ATC and AVC at their minimum point
C) If MC > AVC and ATC, AVC and ATC are rising.

   Related Questions in Microeconomics

  • Q : Positively slope of short-run market

    Within purely competitive industries: (w) short-run market supply curves are positively sloped. (x) long-run market supply curves are positively sloped. (y) short-run supply is more elastic than long-run supply. (z) economic profit exceeds accounting

    		•
  • Q : Saving transaction costs by locations

    Economic rent by a parcel of land is positively associated to the: (w) savings in transaction costs yielded by its location. (x) amount of idle land adjacent to this. (y) time this has been held by the current landowner. (z) amount of natural flora an

    		•
  • Q : Completely elastic price of demand On

    On such demand curve, the demand for DVD games is completely elastic at a price of: (w) $50. (x) $25. (y) $20. (z) None of the above.

    Q : Proprietorships and Partnerships The

    The advantage of a partnership is: (i) Its ease of organization as compared to the corporation. (ii) Its limited liability. (iii) Its capability to outlive the partner’s death. (iv) The lack of divergences. C

    		•
  • Q : Emergence and development of common

    The economist most intimately identified along with the emergence and early development of common equilibrium analysis was: (w) Adam Smith. (x) Leon Walras. (y) Alfred Marshall. (z) William Stanley Jevons. Can some

    		•
  • Q : Problem on Jurisdictional Strikes The

    The Taft-Hartley Act prohibited strikes against the firm over the issue of which of two or more competing unions would symbolize the firm’s employees. These strikes are termed as: (i) Jurisdictional strikes. (ii) Strategic representation strikes

    		•
  • Q : Law of comparative benefits Can someone

    Can someone please help me in determining the right answer from the following question. The law of comparative benefit exhibits: (a) Why trade with a country in which salaries are low is not fair. (b) How countries try to use each other via trade. (c)

    		•
  • Q : Change in the price of a resource A

    A change in the price of a resource will cause a modification in the: (w) demand for the resource. (x) supply of the resource. (y) quantity demanded of the resource. (z) demand for the good the resource produces. H

    		•
  • Q : Problem on income and substitution

    Jim a vegetarian. All he eats is lettuce and cheese. His original budget constraint and utility maximizing bundle are illustrated in the graph shown below: 1531</span></p> </div> <!-- /comment-box --> </li> </td> </tr><tr> <td> <li> <div class=

    Q : Condition for deficit in balance of

    What is the condition when there is a deficit in balance of trade? Answer: When import > export

    		•