If you're seeing this message, it means we're having trouble loading external resources on our website. Show If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. Recommended textbook solutions
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Introductory Business Statistics1st EditionAlexander Holmes, Barbara Illowsky, Susan Dean 2,174 solutions Principles of Economics7th EditionN. Gregory Mankiw 1,394 solutions 8.If the short run average variable costs of production for a firm are rising, then thisindicates that:a)average total costs are at a maximum.b)average fixed costs are constant.c)marginal costs are above average variable costs.d)average variable costs are below average fixed costs. 9.The firm's short run marginal cost curve is increasing when: Get answer to your question and much more 10. A firm encountering economies of scale over some range of output will have a: Get answer to your question and much more 11.Consider the cost functionC(y) =4y2+ 16. Now find the following: Get answer to your question and much more What happens to average variable cost in the short run?Since the fixed cost does not change with the output, the average fixed cost decreases as the output increases. The average variable cost does not always increase in proportion to an increase in the output. Marginal costs also come down until 44 units are produced after which they start rising.
Does the short run average variable cost curve increase with production?Average fixed cost continuously falls as production increases in the short run, because K is fixed in the short run. The shape of the average variable cost curve is directly determined by increasing and then diminishing marginal returns to the variable input (conventionally labor).
What happens to variable cost in the short run when output increases?The total expenses incurred by any business consist of variable and fixed costs. Variable costs are dependent on production output or sales. The variable cost of production is a constant amount per unit produced. As the volume of production and output increases, variable costs will also increase.
Why does the short run marginal cost curve eventually increase for the typical firm?The short-run marginal cost curve eventually increases because of the law of diminishing return. After a point, the production of a firm starts to rise at a decreasing rate, in the short run. This is when the diminishing returns set in. As production rises at a decreasing rate, total costs rise at an increasing rate.
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If the short-run average variable cost of production for a firm are rising, then this indicates that
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