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pirex pirex
wrote...
Posts: 634
6 years ago
A firm's production function for pretzels is shown in the above figure. If the firm's fixed cost equals $100 per time period and the wage rate equals $1 per unit of labor per time period, calculate the firm's MC, AVC, and AC schedules. Do these cost functions follow the general rules concerning the relationships between MC, AVC and AC?
Textbook 
Microeconomics

Microeconomics


Edition: 6th
Author:
Read 68 times
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And if you call, I will answer
And if you fall, I'll pick you up
And if you court this disaster
I'll point you home

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Replies
wrote...
6 years ago
MC > AVC, AVC is rising.
MC < AC, AC is falling.
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