9.6 - Custom Scholars
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# 9.6

question
three significant costs for the firm
total, average, and marginal.
question
total costs
fixed costs + variable costs
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fixed costs
costs that remain constant as output changes
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variable costs
costs that change as output changes
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average total costs
total cost divided by the quantity of output
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average variable costs
variable cost divided by the quantity of output
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average fixed costs.
fixed cost divided by the quantity of output
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average total cost
average fixed cost plus the average variable cost
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Of the cost curves, the only curve which will always be decreasing is:
Average Fixed costs
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marginal costs
the change in the total cost divided by the change in output/ measure the additional costs from production changes
question
the total fixed cost curve is
horizontal since fixed costs do not change as output changes
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, when the marginal cost curve is below the average total cost and the average variable cost curves,
both average total cost and average variable cost decrease.
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when the marginal cost curve is above the average total cost and the average variable cost curves
both average total cost and average variable cost increase.
question
The marginal cost curve intersects the average variable and average total curves at
the minimum point of the average variable and average total cost curves
question
, an increase in productivity per unit of labor causes
the average variable, average total, and marginal costs to decrease, shifting those curves downward.
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question
three significant costs for the firm
total, average, and marginal.
question
total costs
fixed costs + variable costs
question
fixed costs
costs that remain constant as output changes
question
variable costs
costs that change as output changes
question
average total costs
total cost divided by the quantity of output
question
average variable costs
variable cost divided by the quantity of output
question
average fixed costs.
fixed cost divided by the quantity of output
question
average total cost
average fixed cost plus the average variable cost
question
Of the cost curves, the only curve which will always be decreasing is:
Average Fixed costs
question
marginal costs
the change in the total cost divided by the change in output/ measure the additional costs from production changes
question
the total fixed cost curve is
horizontal since fixed costs do not change as output changes
question
, when the marginal cost curve is below the average total cost and the average variable cost curves,
both average total cost and average variable cost decrease.
question
when the marginal cost curve is above the average total cost and the average variable cost curves
both average total cost and average variable cost increase.
question
The marginal cost curve intersects the average variable and average total curves at
the minimum point of the average variable and average total cost curves
question
, an increase in productivity per unit of labor causes
the average variable, average total, and marginal costs to decrease, shifting those curves downward.

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