Microeconomics
What happens to average cost when marginal cost is equal to average cost?
In a GPA calculation, if a student's semester GPA is higher than their cumulative GPA, what happens to their cumulative GPA?
Which cost curve typically decreases continuously?
A firm has a total cost of \$800 for producing 200 units. The average fixed cost is \$2 per unit, and the average variable cost is \$2 per unit. Verify the average total cost using both methods.
What happens to average fixed cost as output increases?
What is the formula for calculating average variable cost?
Which cost curve typically has a U-shape?
Why does average fixed cost decrease as output increases?
If the marginal cost is less than the average cost, what is the expected change in average cost?
In a GPA calculation, if a student's semester GPA is lower than their cumulative GPA, what happens to their cumulative GPA?
