For Kellogg's Corn Flakes, we will assume the average cost is constant, so that the unit cost of a pound of cereal is equal to e2, regardless of the
quantity produced.
1. Draw the cost function (also called the total cost curve) for this case.
2. What do the marginal and average cost functions look like?
3. Now suppose that the marginal cost of producing a pound of Corn Flakes was e2, whatever the quantity,
but there were also some fi xed production costs. Draw the total, marginal, and average cost curves in this
case.

Copyright law protects the expression of an idea so blank is protected by copyright

Intronix uses copy editors, computer graphics specialists, and java programmers to produce ads for magazines and the internet. the average new ad for magazines typically requires 180 hours of a copy editor's time and 135 hours of a computer graphics specialist's time, whereas ads produced for the internet require 35 hours of copy editor time, 195 hours of computer graphics time, and 60 hours of a java programmer's time. lassie food, a dog food manufacturer, has hired intronix to produce ads in the next four week. although currently it considers magazine ads 3 times more valuable than internet ads, it still wishes to have at least 2 of each produced within the next four weeks. intronix has assigned up to 3 copy editors, 4 computer graphics specialists, and 1 java programmer, each committed to work up to 70 hours per week on the project. how many of each type of ad should be produced to maximize the overall value to lassie foods

Which of the following statements about the relationship between economic costs and accounting costs is true? multiple choice accounting costs are equal to or greater than economic costs. accounting costs must always equal economic costs. accounting costs are always greater than economic costs. accounting costs are always less than or equal to economic costs.