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Anna35 [415]
4 years ago
7

Use the following two statements to answer this question:I. The average total cost of a given level of output is the slope of th

e line from the origin to the total cost curve at that level of output.II. The marginal cost of a given level of output is the slope of the line that is tangent to the total cost curve at that level of output.A. I is true, and II is false.B. Both I and II are true.C. I is false, and II is true.D. Both I and II are false.
Business
1 answer:
Burka [1]4 years ago
7 0

Answer:

B. Both I and II are true.

Explanation:

<em> The average total cost of a given level of output is the slope of the line from the origin to the total cost curve at that level of output</em>

The average total cost is defined as the sum of all total costs divided by the quantity produced. In other words, the cost of one unit of production. The average cost curve as shown in the diagram is U-shaped, where it falls with economies of scale and later rises as diseconomies of scale sets in.

<em />

<em>The marginal cost of a given level of output is the slope of the line that is tangent to the total cost curve at that level of output</em>

Marginal cost is the change that occurs in the total cost when quantity produced increases by one unit. In other words, it is the cost of producing an additional unit of a good. As per the diagram, the slope of the line tangent to the TC (TC = AC x Q1) curve at Q1 is the firm's marginal cost at this output level.

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C. Dividends.
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4 years ago
Form utility is ________. 1. marketing's task in creating an offering that has value 2. production's task in creating an offerin
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Answer:

2. production's task in creating an offering that is desired by the market

Explanation:

Form Utility is one of the four types of economic utilities. The other three being Time, place and possession. Form utility refers to the product or service a producer offers his customer. It is the value seen by customers in finished product.

Form utility involves how well a product or service meets customer's needs. Production unit is tasked with creating a product that his desired by the market after the marketing unit have gathered relevant information about what the market or consumers demand or needs.

In summary, it is a simple utility that involves the creation of products that meets customer's needs.

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4 years ago
A monopolistically competitive firm will A. produce an output level that is productively and allocatively efficient. B. have som
almond37 [142]

Answer: Option (B) is correct.

Explanation:

Correct option: have some control over its price because its product is differentiated.

A competitive monopolistic firm is not operating efficiently because it doesn't producing at a point where price is equal to the marginal cost or at a minimum point of its average cost curve.

It generally produces lower output and charges higher prices for their differentiated products. Differentiated products are the products which are similar in nature but have slightly different features. So, firms try to make their products different.

Hence, the firms have some control over the price of the differentiated products.

8 0
3 years ago
Blue Spruce Corp. reports the following ledger account balances at June 30, 2022:
creativ13 [48]

Answer:

<h3>Blue Spruce Corp.</h3>

The total credits on the company's trial balance at June 30, 2022 are:

Accumulated depreciation-equipment $66

Accounts payable                                   910

Unearned rent revenue                         136

Common stock                                      246

Retained earnings                              6800

Service revenue                                    382

Interest revenue                                     76

Totals                                               $8,616

Explanation:

a) Data and Calculations:

Blue Spruce Corp.

Trial Balance as at June 30, 2022:

Accounts Title                         Debit      Credit

Cash                                       $1832

Accounts receivable               2858

Inventory                                 3904

Prepaid rent                                96

Equipment                                390

Accumulated depreciation-equipment $66

Accounts payable                                   910

Unearned rent revenue                         136

Common stock                                      246

Retained earnings                              6800

Service revenue                                    382

Interest revenue                                     76

Salaries and wages expense 170

Insurance expense                  98

Totals                                $9,348   $8,616

b) The totals show that the trial balance is not in balance.  This may be as a result of errors of omissions, commissions, transposition, etc.

8 0
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Anestetic [448]

Answer:

product design

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4 years ago
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