Marginal costs and average variable costs are equal when

Related MCQs

• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is:
• When both average and total product are greater than zero, and marginal product equals average product, then total product:
• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• If average variable costs fall as output grows:
• If labour is the only variable resource and its marginal physical product falls as more workers are hired:
• When average product is at a maximum, marginal product is
• Suppose that a firm produces 200,000 units a year and sells them all for Rs.10 each. The explicit costs of production are Rs.1,500,000 and the implicit costs of production are Rs. 300,000. The firm has an accounting profit of:
• The average total costs of the firm as defined in standard economic theory
• Variable costs are: