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Directions For each question draw a typical firms AVC AT.pdf

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Directions: For each question, draw a typical firm's AVC, ATC, and MC curves, labeling the axes. Assume that the only variable input that the firm uses is labor. Then shift the appropriate curve(s). No partial credit will be given. You have 30 minutes to complete this quiz. 1. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the wage rate paid to labor rises. 2. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if a per-unit tax is levied on the firm. 3. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if technology improves, making it possible to produce the firm's output with fewer inputs. 4. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the rent the firm pays for its factory space rises..

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Directions: For each question, draw a typical firm's AVC, ATC, and MC curves, labeling the axes. Assume that the only variable input that the firm uses is labor. Then shift the appropriate curve(s). No partial credit will be given. You have 30 minutes to complete this quiz. 1. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the wage rate paid to labor rises. 2. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if a per-unit tax is levied on the firm. 3. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if technology improves, making it possible to produce the firm's output with fewer inputs. 4. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the rent the firm pays for its factory space rises.

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  • 1. Directions: For each question, draw a typical firm's AVC, ATC, and MC curves, labeling the axes. Assume that the only variable input that the firm uses is labor. Then shift the appropriate curve(s). No partial credit will be given. You have 30 minutes to complete this quiz. 1. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the wage rate paid to labor rises. 2. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if a per-unit tax is levied on the firm. 3. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if technology improves, making it possible to produce the firm's output with fewer inputs. 4. Use this space to draw a set of cost curves, including the AVC, the ATC, and the MC curves. Graphically show what will happen if the rent the firm pays for its factory space rises.