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Explain the relationship between margina...

Explain the relationship between marginal cost and average cost of a firm with the help of appropriate diagram

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RADHA BHUGANA-CONCEPTS OF COST-SHORT ANSWERS
  1. Distinguish between fixed and variable costs

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  2. Explain the meaning of opportunity cost with an example

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  3. Explain the relationship between marginal cost and average cost of a f...

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  4. Explain the relationship between average total cost curve, average var...

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  5. Given the total fixed cost is Rs. 90, complete the following table.

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  6. Given the total fixed cost is Rs. 30, complete the following table.

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  7. Why is short run marginal cost curve 'U'-shaped?

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  8. What changes will take place in average cost if marginal cost is risin...

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  9. Explain the relationship between marginal cost and average variable co...

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  10. Complete the following table:

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  11. Complete the following table:

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  12. Distinguish between (i) fixed cost and variable cost giving example...

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  13. Complete the following table

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  14. Complete the following table

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  15. State the distinction between explicit cost and implicit cost. Give an...

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  16. Define marginal cost. Explain its relations with average variable cost...

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  17. Define variable cost. Explain the behaviour of total variable cost as ...

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  18. Giving examples, explain the meaning of cost of cost in economics.

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  19. Why does MC curve cut the AC curve at its minimum?

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  20. State the relation between total cost and marginal cost.

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