You are planning to start a business. When calculating the costs. You have considered the costs of setting up your manufacturing plant, production, logistics, and all other costs except for the opportunity cost of your initial investment in this business. Which of the below is true? A) You calculated the economic cost. B) You calculated the explict costs. C) You calculated only the variable costs. D) You calculated only the fixed costs.

Q: How and why does a firm’s average-total cost curve differ in the short run compared with the long…

A: In the long run, a firm adjusts the different factors of production that are fixed in comparison in…

Q: Refer to the accompanying table below. The marginal cost of the 3'd unit of this activity is: Units…

A: Marginal cost refers to an increase in total cost because of one more unit of output.

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Q: The long-run is a period of time long enough so that all inputs, including facility and equipment,…

A: PLEASE FIND THE ANSWER BELOW.

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A: Marginal cost refers to the additional cost of producing one more unit of output.

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A:

Q: A firm has access to two production processes with the following marginal cost curves: MC1 = 0.25x…

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Q: The per-unit cost of an item is its average total cost (= total cost/quantity). Suppose that a new…

A:

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A: The table shows output and AC:

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A: * SOLUTION :-    Given that ,

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Q: Explain why Decreasing cost condition is the best while Increasing Cost Condition is not good

A: Answer to the question is as follows :

Q: A firm has access to two production processes with the following marginal cost curves: MC1 = 0.25x…

A:

Q: a) Find the short-run TC, TVC, and TFC curves for this production process. Sketch them on a single…

A: Q = f(K, L) = 3KL When K = 4, Q = 12L L = Q/12 TC = wL + rK = 24 x (Q/12) + (2 x 4) TC = 2Q + 8 TVC…

Q: Question 33 Which of the following cost curves does not have a shape that is explained by the law of…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Which of the following statement is correct? a. Marginal cost will equal average total cost when…

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Q: th for vario

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A: Note : There are multiple sub parts in this question. Hence, only the first three sub parts shall be…

Q: Explain the theoritical relationship between average variable cost and the marginal cost

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Q: How would each of the following affect average total cost, average variable cost, and marginal cost?…

A: GIVEN  How would each of the following affect average total cost, average variable cost, and…