Solved

For Small Quantities of Output,average Variable Cost Decreases as Output

Question 77

Multiple Choice

For small quantities of output,average variable cost decreases as output increases due to:


A) a reduction in the number of workers.
B) diminishing return.
C) labor specialization increases worker productivity.
D) More information is needed to determine.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q71: At Fresh Hot Bakery,the average cost of

Q73: As output increases,it is always true that
A)

Q75: The law of diminishing returns applies in

Q75: Marginal cost is equal to
A) variable cost

Q76: Table 8.4</p></div><svg width=

Q77: As output increases,total cost also increases.Therefore,
A) marginal

Q78: -Refer to Figure</p></div><svg width=

Q80: Table 8.4 -Refer</p></div><svg width=

Q92: Table 8.5</p></div><svg width=

Q94: Average total cost is equal to
A) total

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents