Question from Past Microeconomics Qualifying ExamEdit

Fall 1999- Section I, Question two, George Mason University

True, False, Uncertain. Determine whether or not each of the following statements are true or false. Explain your reasoning briefly in a paragraph or two. (The explanation is often more important than the answer given). Include a carefully labeled diagram or game matrix if it helps to clarify your answer.

Cost curves are “monetized” reciprocals of product curves.



   *MC 	= dTVC/dQ = wdL/dQ = w(1/MPL)
  • MC is the monetized mirror image or reciprocal of the MPL curve
 * AVC	= TVC/Q = wL/Q	= w(1/APL)
  • AVC is the monetized mirror image or reciprocal of the APL curve

See AlsoEdit

Other QuestionsEdit

Ad blocker interference detected!

Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.