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8 Homework

# 8 Homework - A \$90 B \$120 C \$160 D \$210 4 Refer to the...

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ONE WRONG 1.  If marginal cost is below average variable cost: A) Average total cost is increasing but average variable cost is decreasing B) Both average total cost and average variable cost are decreasing C) Both average total cost and average variable cost are increasing D) Average variable cost is less than average fixed cost 2. Refer to the above table. There are negative marginal returns when the: 3. Refer to the above table. The total variable cost of producing 35 units of output is:

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Unformatted text preview: A) \$90 B) \$120 C) \$160 D) \$210 4. Refer to the above table. The average total cost of producing 35 units of output is: A) \$1.41 B) \$4.57 C) \$6.00 D) \$7.00 5. Refer to the above table. Diminishing returns set in with the addition of the: A) First unit of input B) Second unit of input C) Third unit of input D) Fourth unit of input 6. Refer to the above table. When output increases from 28 to 35 units, the marginal cost of the product is: A) \$4.44 B) \$5.71 C) \$6.00 D) \$6.67...
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