Part 1Vicky currently produces corn and beef at point A in the graph. What is Vicky's marginal cost of producing an additional unit of corn? Part 1Vicky's marginal cost of producing an additional unit of corn is _______. A. 66 units of beef B. 4040/55 units of beef C. 55/4040 units of beef D. 4040 units of beef Part 1
024681012060Corn (units)Beef (units)Upper AAPPFPPF40 Edit coordinates (0,0) x y graph Click on the graph to work out the answer.

Question

Part 1Vicky currently produces corn and beef at point A in the graph. What is Vicky​'s marginal cost of producing an additional unit of corn​? Part 1Vicky​'s marginal cost of producing an additional unit of corn is​ _______. A. 66 units of beef B. 4040​/55 units of beef C. 55​/4040 units of beef D. 4040 units of beef Part 1
024681012060Corn (units)Beef (units)Upper AAPPFPPF40 Edit coordinates (0,0) x y graph​>>> Click on the graph to work out the answer.

BlackTom AI · Accepted Answer

First, restating the problem helps anchor what we’re analyzing: Vicky currently produces corn and beef at point A on the graph. The question asks for Vicky’s marginal cost of producing an additional unit of corn, expressed in beef units. The answer options are: A. 6 units of beef; B. 40 / 5 units of beef; C. 5 / 40 units of beef; D. 40 units of beef.

Option A proposes a marginal cost of 6 units of beef for each additional unit of corn. To evaluate this, we’d compare the slope between the current production point and the next feasible point along the corn axis. If the graph’s slope or the coordinates around point A do not yield exactly 6 beef per extra corn unit, this would be incorrect. Without the precise coordinates, we assess consistency with the other options and typical marginal-cost expressions: a ratio of beef per corn is common, so 6 would imply a relatively steep trade-off.

Option B states 40/5 units of beef. This is equivalent to 8 beef per extra unit of corn. If the marginal cost is calculated as the change in beef divided by the change in corn, a fractional ratio like 40/5 is a valid expression of that slope. Interpreting 40/5 as a unitless ratio, it corresponds to an 8-beef-per-corn-unit trade-off, which could arise from changes like ΔBeef = 40 and ΔCorn = 5.

Option C suggests 5/40 units of beef, which simplifies to 1/8 or 0.125 beef per extra unit of corn. This would indicate a very small marginal cost in terms of beef, implying producing more corn is extremely cheap in beef terms. If the graph’s slope around A shows a steeper trade-off than this, C would be inconsistent with that depiction.

Option D claims 40 units of beef per additional corn unit, a very large marginal cost. Such a high slope would mean expanding corn production dramatically increases beef output required to compensate, which is unlikely given a standard two-good production possibility frontier unless the corner or lever-arm geometry indicates a steep trade-off.

A key check is unit consistency and the idea that marginal cost is the amount of the other good you must give up to gain one more unit of corn. If the reported coordinates around point A yield a ΔBeef of 40 for a ΔCorn of 5, that ratio is 40/5 = 8 beef per corn unit, matching option B’s expression. Options C and D would require ΔBeef/ΔCorn to be 0.125 or 40, respectively; without a slope this steep or shallow, those values would not align with the observed marginal trade-off implied by the graph.

In summary, the structure of marginal cost as a ratio of changes in beef to changes in corn supports Option B’s 40 / 5 units of beef as a plausible marginal cost, while Options A, C, and D imply alternative slopes (6, 1/8, and 40 respectively) that would not match the specific ΔBeef/ΔCorn ratio suggested by the point A on the graph.

Test:ch2_practice

查看解析

登录即可查看完整答案

类似问题

An assumption of the BECOMP model is:

When the average total cost curve is downward sloping, what must be true about the marginal cost curve?

Refer to the accompanying graph to answer the next question. The firm is experiencing gains from specialization up to what level of output along the marginal cost curve?

Part 1In the figure, the marginal cost of the last unit produced by the profit maximizing firm is A. $15. B. $10. C. $5. D. $20. Part 1

A company produces a popular brand of cookies. In the short run, the size of its factory and equipment are fixed, but it can hire more or fewer workers. Suppose the company observes that its marginal product of labor is increasing. What will happen to its marginal cost of production?

When a firm increased its output by one unit, its AC rose from $45 to $50. This implies that its MC after the increase is

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单