The reason the marginal cost curve eventually increases as output increases for the typical firm is because of Show Multiple Choice
 Q: Which of the following results from bureaucratic red tape, breakdown of top-to-bottom communication,… A: When the size of the firm becomes too large, it becomes unmanageable and thus experiences… Q: Marginal product will eventually go down because of the law of diminishing marginal utility. the… A: The marginal product of a factor input is the additional output that is generated when an… Q: Marginal cost is defined by: (a) total cost increases when one more unit is produced. (b) fixed… A: In economics, cost is further classified as marginal cost, fixed cost, variable cost, average… Q: Marginal cost is defined by: (a) total cost increases when one more unit is produced. (b) fixed… A: Answer - 1. (a) Total Cost increase when more unit is produced. Reason - Marginal cost is defined… Q: Increaseing marginal returns means that as the firm expands its output, its: OPTIONS long-run… A: Increase in marginal returns: An increase in marginal returns refers to the variable input when an… Q: If a firm is currently producing zero output, then total costs equal average variable costs. B… A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process. Q: Marginal cost is the: rate of change in total fixed cost that results from producing one more unit… A: Marginal cost by definition is the cost incurred for producing an extra unit of the good or… Q: Jeb owns a small marketing company, which he operates from a home office. Jeb’s home office is an… A: Fixed Cost remains same at all levels of output. Marginal Cost is the additional cost incurred while… Q: Diseconomies of scale occur when:A) average total cost increases as output increases.B) average… A: The process of production is the combining of the raw materials and the skills and knowledge of the… Q: The law of diminishing returns indicates that: a. as extra units of a variable resource are added to… A: (Q) The law of diminishing returns indicates that: a. as extra units of a variable resource are… Q: The vertical distance between a firm's total cost (TC) and variable cost (VC) curves O is equal to… A: The total cost of any firm includes its fixed costs and its variable costs that occurred during… Q: The long run is characterized by: Multiple Choice at least one fixed input. the relevance of the law… A: The long run is a period of time in which all factors of production and costs are variable. In the… Q: Total cost of the firm rely fully on the total fixed cost of the firm. True/False A: Costs are the expenses that a firm incurs in the production of the goods and services. It is… Q: Diseconomies of scale exist over the range of output for which the long-run average cost curve is a.… A: The firms are considered to be the producers who work with the motive of earning maximum possible… Q: Implicit costs are Multiple Choice ) the same as economic costs. comprised entirely of actual… A: When computing the cost associated with a specific task or event, an individual looks into two types… Q: The feature that distinguishes short-run from the long-run is the * length of time it takes to… A: Short run and long run are period of times in production of goods which differ according to the… Q: Assume a standard marginal cost curve and average cost curve for firms producing cellular phones.… A: Points to be considered: * Technological advancement increases the production/output. * MC and AC… Q: Total variable cost as output increases, and total fixed cost as output increases Select one: A.… A: The variable cost is the cost that changes when the output changes. This includes labor cost, cost… Q: The downward-sloping segment of the long-run average cost curve corresponds to *… A: In production activity, time period under consideration determines the nature of costs faced by the… Q: Fixed costs of production in the short run: a. Are low in proportion to variable costs in the short… A: The firm can increase production by changing its factor of production. However, the production scale… Q: The long run is best defined as a time period )during which prices of other goods change. that is… A: The short-run (SR) is a time span where the prices of inputs are constant but the prices of output… Q: Variable costs are sunk costs. costs that change every day. costs that… A: Costs are the expenses that a firm has to incur in the production of goods and services. Q: Variable costs are sunk costs. costs that change every day. costs that change… A: Costs are the expenses that a firm has to incur in the production of goods and services. Q: Variable costs are sunk costs. costs that change every day. costs that change… A: In the business operation, a producer has to bear cost of production which includes two types of… Q: Variable costs are sunk costs. costs that change every day. costs that change… A: In the production process, different inputs are used to produce the final output. Land, labor,… Q: Variable costs are sunk costs. costs that change every day. costs that change with… A: Cost is the expenditure incurred on production of the good and service. There are various types of… Q: A profit-maximizing firm in a competitive market is currently producing 90 units of output. It has… A: The following information is given: Output = 90 units, Average revenue = 46, Fixed cost = $270,… Q: A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has… A: In case of perfect competition there are large number of buyers and sellers. The firms sell… Q: The marginal-cost (MC) curve cuts through the average-total-cost (ATC) curve and the… A: Answer to the question is as follows: Q: Order the following components of a long run average cost curve as output expands based on which… A: In the long-run, an average cost curve shows different phases of production when average cost… Q: When a firm produces one unit, the variable cost is $3. When the firm produces two units, the… A: The variable cost of the first unit = $3 The variable cost of the two units = $6 Q: When a firm maximizes profit in the short run, it should consider: all costs, including… A: The short run is a period in which the time period is not long enough to make changes in all the… Q: The output level at which long-run costs are minimised is known as: (a) Average fixed cost; (b)… A: Total cost is the cost incurred by the firm on hiring factors of production to produce the final… Q: When a firm is operating at its minimum efficient scale, its: a. marginal revenue is less than the… A: Minimum efficient scale is defined as the level of output at which all economies of scale are… Q: Total cost divided by quantity of output is Select one: a. average variable cost b. average total… A: Economics is a branch of social science that describes and analyzes the behaviors and decisions… Q: In the short run, a firm will produce a positive amount of output as long as _____ Group of answer… A: In short run, the firm will produce the goods as long as the price greater than the average variable… Q: When the production function exhibits _________ returns to scale, the long-run average cost curve… A: Economies of scale: The economies of scale are the cost-benefit that the firm achieves by… Q: What effect might a decrease in the demand for high definition television have on the short-run… A: Click to see the answer Q: In the long run a the firm's fixed costs are greater than its fixed costs in the short run. b all of… A: Economics is a branch of social science that describes and analyzes the behaviors and decisions… Q: A profit-maximizing, perfectly competitive firm produces a single output from two inputs. The… A: Profit function presented depicts the maximum amount of profit that would be earned for a particular… Q: ting profit is zero. B. Economic profit is positive. C. Accounting profit is positive. D. Total… A: Since you have asked multiple questions, we will solve the first question for you. If you want any… Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below. Recommended textbooks for you Economics For Today ISBN:9781337613040 Author:Tucker Publisher:Cengage Learning Micro Economics For Today ISBN:9781337613064 Author:Tucker, Irvin B. Publisher:Cengage, Survey Of Economics ISBN:9781337111522 Author:Tucker, Irvin B. Publisher:Cengage,
Managerial Economics: A Problem Solving Approach ISBN:9781337106665 Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor Publisher:Cengage Learning Microeconomics ISBN:9781337617406 Author:Roger A. Arnold Publisher:Cengage Learning Economics (MindTap Course List) ISBN:9781337617383 Author:Roger A. Arnold Publisher:Cengage Learning Economics For Today ISBN:9781337613040 Author:Tucker Publisher:Cengage Learning Micro Economics For Today ISBN:9781337613064 Author:Tucker, Irvin B. Publisher:Cengage, Survey Of Economics ISBN:9781337111522 Author:Tucker, Irvin B. Publisher:Cengage, Managerial Economics: A Problem Solving Approach ISBN:9781337106665 Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor Publisher:Cengage Learning Microeconomics ISBN:9781337617406 Author:Roger A. Arnold Publisher:Cengage Learning Economics (MindTap Course List) ISBN:9781337617383 Author:Roger A. Arnold Publisher:Cengage Learning Why does the marginal cost curve eventually increase for the typical firm?Answer and Explanation: For a typical firm, the marginal cost curve eventually increases due to the law of law of diminishing returns.
Why marginal cost eventually increases as output increases?The answer is marginal cost eventually increases as output increases due to the effect of d. diminishing marginal product of inputs––––––––––––––––––––––––––––––––––––––––––––––
What will happen to marginal cost when a firm increases its output?Variable costs typically show diminishing marginal returns, so the marginal cost of producing higher levels of output rises.
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The reason the marginal cost curve eventually increases as output increases for the typical firm is
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