If the 15th unit of output has a marginal cost of 2950 and the average cost of

If the 15th unit of output has a marginal cost of

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81) If the 15th unit of output has a marginal cost of $29.50 and the average cost of producing 14 unitsof output is $30.23, what will happen to the average cost of production if the 15th unit isproduced? A) Average cost will fall.B) Average cost could increase or decrease depending on what happens to fixed cost.C) Average cost increases as more is produced.D) Average cost could increase or decrease depending on what happens to variable cost.Answer: A 81) Diff: 2 Page Ref: 363 - 364/363 - 364 Topic: Average Cost Learning Outcome: Micro 12: Apply methods for measuring and analyzing the effects of inputs and costs on the supply curve AACSB: Analytic Skills 82) Which of the following costs willnotchange as output changes? 82) Diff: 2 Page Ref: 363 - 364/363 - 364 Topic: Fixed Cost Learning Outcome: Micro 12: Apply methods for measuring and analyzing the effects of inputs and costs on the supply curve AACSB: Reflective Thinking 83) Average fixed costs of production 83) Diff: 2 Page Ref: 363 - 364/363 - 364 Topic: Fixed Cost Learning Outcome: Micro 12: Apply methods for measuring and analyzing the effects of inputs and costs on the supply curve AACSB: Reflective Thinking 84) If fixed costs do not change, then marginal cost 84) Diff: 2 Page Ref: 363 - 364/363 - 364 Topic: Marginal Cost Learning Outcome: Micro 12: Apply methods for measuring and analyzing the effects of inputs and costs on the supply curve AACSB: Reflective Thinking 23
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  • Winter '20
  • Prime number, AACSB, Page Ref, 83, 84

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