Asked by Vivian Terziario on Apr 29, 2024
Verified
Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q2,where Q is the quantity of dogs groomed.Janet notices that,as she grooms more dogs,her total cost curve:
A) becomes steeper.
B) becomes flatter.
C) stays constant.
D) becomes steeper and then becomes horizontal.
Total Cost Curve
A graphical representation showing the total cost of producing different levels of output in the short run or long run.
Quantity
The amount or number of units of a product, good, or service available or demanded in a market.
- Analyze diagrams of production functions and grasp their impact on production costs and quantity.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
A
Explanation :
The presence of the variable Q in the total cost equation indicates that the total cost is dependent on the quantity of dogs groomed. As the quantity of dogs groomed increases, the cost of each additional dog groomed may increase due to the need for additional resources such as time, labor, and supplies. Therefore, the total cost curve will become steeper as more dogs are groomed.
Learning Objectives
- Analyze diagrams of production functions and grasp their impact on production costs and quantity.