Answer to Question #148235 in Microeconomics for Mcdonald

Question

Hello, I have done these problems on my own to the best of my knowledge and just wanted to confirm my answers. If I got any wrong could you explain why it's wrong?

Q1: If the total fixed cost curve shifts upward the firm's average fixed cost curve will also shift upward.

True or False?

Answer: True

Q2: In the short run time period, all inputs to the production process can be varied as long as the output remains constant.

True or False?

Answer: True

Q3: The marginal product curve does not exist in the long run time period.

True or false?

Answer: False

Q4: Average total cost is the total fixed cost minus total variable cost.

True or False?

Answer: False

Q5: While moving downward along the average total cost curve, as quantity of output is increasing, the marginal cost of production is always less than the average total cost of production.

True or False?

Answer: False

Answer 1

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