Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 20 views

    Cost Curves of Microeconomics

    Uploaded by

    Zeeshan Haider
    The document contains a quiz question asking to differentiate between various cost curves. It defines the average cost curve, total cost curve, variable cost curve, marginal cost curve, average total cost curve, and average variable cost curve. It also asks to write the condition of intersection of cost curves and draw their graph. The response states that the marginal cost curve and average variable cost curve intersect at the lowest point of the average variable cost curve, and the marginal cost curve and average cost curve intersect at the minimum point of the average cost curve. It then draws a graph showing the relationships between the marginal cost curve, average variable cost curve, average total cost curve, and how they intersect.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Cost Curves of Microeconomics

    Uploaded by

    Zeeshan Haider
    20 views2 pages
    The document contains a quiz question asking to differentiate between various cost curves. It defines the average cost curve, total cost curve, variable cost curve, marginal cost curve, average total cost curve, and average variable cost curve. It also asks to write the condition of intersection of cost curves and draw their graph. The response states that the marginal cost curve and average variable cost curve intersect at the lowest point of the average variable cost curve, and the marginal cost curve and average cost curve intersect at the minimum point of the average cost curve. It then draws a graph showing the relationships between the marginal cost curve, average variable cost curve, average total cost curve, and how they intersect.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document contains a quiz question asking to differentiate between various cost curves. It defines the average cost curve, total cost curve, variable cost curve, marginal cost curve, average total cost curve, and average variable cost curve. It also asks to write the condition of intersection of cost curves and draw their graph. The response states that the marginal cost curve and average variable cost curve intersect at the lowest point of the average variable cost curve, and the marginal cost curve and average cost curve intersect at the minimum point of the average cost curve. It then draws a graph showing the relationships between the marginal cost curve, average variable cost curve, average total cost curve, and how they intersect.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    20 views2 pages

    Cost Curves of Microeconomics

    Uploaded by

    Zeeshan Haider
    The document contains a quiz question asking to differentiate between various cost curves. It defines the average cost curve, total cost curve, variable cost curve, marginal cost curve, average total cost curve, and average variable cost curve. It also asks to write the condition of intersection of cost curves and draw their graph. The response states that the marginal cost curve and average variable cost curve intersect at the lowest point of the average variable cost curve, and the marginal cost curve and average cost curve intersect at the minimum point of the average cost curve. It then draws a graph showing the relationships between the marginal cost curve, average variable cost curve, average total cost curve, and how they intersect.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Quiz 2 Name: Zeeshan Haider ARID Number: 20-ARID-2127

    Q: differentataiate the following cost curves?

    Name Abbrevatio Defination Axis On Graph Shape Slope


    n
    The Average Cost is the
    per unit cost of
    Average x-axis (quantity)
    AC production obtained by U Shape Upward
    Cost y-axis (price)
    dividing the total cost by
    the total output.
    Total cost sums
    x-axis (quantity)
    Total Cost TC all expenses paid to U shape upward
    y-axis (price)
    produce a product.
    A variable cost is a cost
    Variable that changes in relation x-axis (quantity)
    VC U shape upward
    Cost to variations in a business y-axis (price)
    activity.
    Marginal cost is the p
    change in the total cost MC
    that arises when the x-axis (quantity)
    Marginal MC upward
    quantity produced is y-axis (price) q
    curve
    incremented by one
    additional unit.
    Average total cost is total
    Average x-axis (quantity)
    ATC cost divided by the U shape downward
    Total Cost y-axis (price)
    quantity of output.
    Average variable
    Average
    cost obtained when x-axis (quantity)
    Variable AVC U shape upward
    variable cost is divided by y-axis (price)
    Cost
    quantity of output.
    Q2:

    Write the condition of intersection of cost curve also draw their graph.

    The marginal cost curve and the average variable cost curve intersect at the lowest point of the average variable cost curve.

    The point of intersection between the MC and AC curves is also the minimum of the AC curve.

    MC

    AVC

    ATC

    You might also like