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What is the relationship between marginal cost and average cost curves?
Wiki User
∙ 2011-03-28 03:53:01
Margianal cost curve crosses the average total cost curve at the lowest point on the average total cost curve to be socially and ecomonical efficient.
Wiki User
∙ 2011-03-28 03:53:01
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Relationship between marginal cost and average total cost?
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.
What kind of relationship you postulate between short-run and long run average cost curves when these are not U shaped?
The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.
What kind of relationship would you postulate between short-run and long-run average cost curves when these are not you-shaped as suggested by the modern theories?
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
What kind of relationship would you postulate between short-run and long average cost curves when these are not U-shaped as suggested by the modern theories?
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
Why are the marginal cost average variable cost and average total cost curves U shaped?
Because of economies of scale and diseconomies to scale.
What are typical shapes of marginal-benefit curves?
Marginal Benefit curve is usually downward sloping, while Marginal Cost is usually upward sloping.
Why do the demand and marginal revenue curves coincide?
Because in Pure Competition, Demand equals Price, and Price equals Marginal Revenue;hence, Demand equals Marginal revenue.
What kind of relationship would you postlates between short run and long run average cost curves when these are U-shaped as suggested by the modern theories?
go ahead. Keep cheapening what a beautiful thing a committed relationship can be
Identify the characteristics of a perfectly competitive market and explain how the marginal revenue marginal cost average revenue average variable cost average total cost and price curves all interact?
Characteristics of Perfectly Competitive Market: Free entry / exit (no barriers to entry) Firms produce homogenous products There is perfect knowledge of the market Many Seller and Buyers Seller is a passive price taker Marginal Revenue Curve = Average Revenue = Price = Demand Curve for individual firm. The curve is constant Marginal Cost Curve intersects both Average Variable Cost and Average Total Cost curves at their minimum point Profit Maximisation output level is when MR = MC (find intersect point and draw line down to Q axis)
Discuss the relationship between product and cost curves?
The product establishes the cost curve or the relationship between costs and outputs. Costs are influenced by the need and function of a certain product.
What is curvilinear relationship?
The definition of a curvilinear relationship is one that is between two or more variables that is not graphically depicted by a straight line. They are variable and represented by curves.
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Relationship between Lorenz curve and Gini coefficient is the more the Lorenz line curves away from the line of equality, the greater the degree of inequality represented.
