The formula for average variable cost (AVC) is ?

Related Mcqs:

Which of the following is a correct statement about the relationship between average product (AP) and marginal product (MP) ?

A. If TP is declining, then AP is negative B. If AP = MP, then total product is at a maximum. C. If AP exceeds MP then AP is falling D. If AP is at a maximum, then MP is also,...

In the long run ?

A. all firms must make economic profits. B. there are no fixed factors of production C. a firm can vary all inputs, but it cannot change the mix of inputs it uses. D. a firm can shut down, but it cannot exit the industry...

Assume that firms in an oligopoly are currently colluding to set price and output to maximise total industry profit. If the oligopolists are forced to stop colluding, the price charged by the oligopolists will _________ and the total output produced will __________?

A. decrease; decrease B. increase; decrease C. decrease; increase D. increase; increase...

A graph showing all the combinations of capital and labor that can used to produce a given amount of output is ?

A. an indifference curves. B. an isoquant. C. an isocost line D. a production functions...

Suppose we know that a monopolist is maximizing its profits. Which of the following is a correct inference? the monopolist has?

A. maximized its total revenue B. set price equal to its average cost C. equated marginal revenue and marginal cost D. maximized the difference between marginal revenue and marginal cost....