Homework Answers
Ans) the correct option is b) Accomplish a reduction in costs
Economies of scope occurs when the cost of producing the good is less for a firm compared to the other firm
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Seved Help When there are economies of scope between two products which are separately produced by...
Two firms producing identical products may merge due to the existence of Multiple Choice economies of...
Two firms producing identical products may merge due to the existence of Multiple Choice economies of scope. economies of scale. cost complementarities. All of the statements are correct.
Economies of scale refers to when: In the long run when average total cost does not...
Economies of scale refers to when:
In the long run when average total cost does not depend on the
quantity of output, this is called:
Commodities:
We assume that in the long run in a perfectly competitive
market:
Multiple Choice an increase in the quantity of output increases average total cost in the long run. None are correct. average total cost does not depend on the quantity of output in the long run. an increase in the quantity of output...
18, Which of the following cost functions exhibits economies of scope when three (3) units of...
18, Which of the following cost functions exhibits economies of scope when three (3) units of good one and two (2) units of good two are produced? A. C 50-5Q0 + 0.5Q. Q B. C 10+ 4Q Q2 + Q+ Q C. C- 15+5Q Q +2Q, 402 5+QQ2+ QQ2. D. C 19. The production function for a competitive firm is Q = K51S, The firm sells its output at a price of $10 and can hire labor at a wage...
I am really stuck with this please help Thanks. 4. Suppose that a firm produces two...
I am really stuck with this please help Thanks.
4. Suppose that a firm produces two different outputs, the quantities of which are repre- sented by yı and y2. In general, the firm's total costs can be represented by C(y1, y2). This function exhibits economies of scope if C(0,42) + C(4,0) > C(y1, y2) for all output levels of either good. 4.1 Explain in words why this mathematical formulation implies that costs will be lower in this multiproduct firm than...
2. "Economies of scope" exhibits when the joint cost of producing two or more goods is...
2. "Economies of scope" exhibits when the joint cost of producing two or more goods is less than the sum of the separate costs. One of the examples is the oil refinery using the exhausted heat to cogenerate electric power. Please provide one more example of industry exhibiting economies of scope. A URL reference link to support your answer is a plus. Please answer all the two questions by one paragraph for each
Economies of Scope Suppose the joint total cost function of a telecommuncications company providing internet service,...
Economies of Scope Suppose the joint total cost function of a telecommuncications company providing internet service, Q1 and TV cable service Q2 is the following: C(Q1Q2) = Q1 + Q2 + (Q1 x Q2)1/3 A) Does this multi-service firm experience economies of scope when it provides internet access to 75 customers, and cable T.V. access to 125 customers? Does this cost equation suggest that the multi-service firm enjoys cost complementarity among its two services? Please clarify and explain throroughly. (Note,...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm experiences [ (Click to select) diseconomies of scale diminishing marginal returns increasing marginal returns b. The minimum efficient scale is the level of output produced by the smallest firm in the industry. smallest level of output at which a firm can produce. only level of output where long-run average total costs are minimized. smallest level of output needed to attain...
28 When there are external economies of scale, an increase in the size of the market...
28 When there are external economies of scale, an increase in the size of the market will: A) not affect the number of firms, but will lower the price per unit. B) decrease the number of firms and lower the price per unit. C) decrease the number of firms and raise the price per unit. D) increase the number of firms and raise the price per unit. E) increase the number of firms and lower the price per unit. -...
... Assignment #3 0 Seved Help Save Columbia Products produced and sold 900 units of the...
... Assignment #3 0 Seved Help Save Columbia Products produced and sold 900 units of the company's only product in March. You have collected the following information from the accounting records: Sales price (per unit) Manufacturing costa: Fixed overhead (for the month) Direct labor (per unit) Direct materials (per unit) Variable overhead (per unit) Marketing and administrative costs: Fixed cost (for the month) Variable costs (per unit) 448 50,400 35 112 70 67,500 14 es Required: a. Compute the following:...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these products were processed further. Production and sales were: Additional Processing Costs $250,200 Product Weight Sales P 417,000 lbs. $333,600 @ 180,000 lbs. 54,000 R 180,000 lbs. 315,000 -0- 180,000 If the estimated net realizable value method is used and product Q is accounted for as a main product, how much of the joint costs would be allocated to product R? Multiple Choice 0 $78,889....
Two firms producing identical products may merge due to the existence of Multiple Choice economies of scope. economies of scale. cost complementarities. All of the statements are correct.
Economies of scale refers to when:
In the long run when average total cost does not depend on the
quantity of output, this is called:
Commodities:
We assume that in the long run in a perfectly competitive
market:
Multiple Choice an increase in the quantity of output increases average total cost in the long run. None are correct. average total cost does not depend on the quantity of output in the long run. an increase in the quantity of output...
18, Which of the following cost functions exhibits economies of scope when three (3) units of good one and two (2) units of good two are produced? A. C 50-5Q0 + 0.5Q. Q B. C 10+ 4Q Q2 + Q+ Q C. C- 15+5Q Q +2Q, 402 5+QQ2+ QQ2. D. C 19. The production function for a competitive firm is Q = K51S, The firm sells its output at a price of $10 and can hire labor at a wage...
I am really stuck with this please help Thanks.
4. Suppose that a firm produces two different outputs, the quantities of which are repre- sented by yı and y2. In general, the firm's total costs can be represented by C(y1, y2). This function exhibits economies of scope if C(0,42) + C(4,0) > C(y1, y2) for all output levels of either good. 4.1 Explain in words why this mathematical formulation implies that costs will be lower in this multiproduct firm than...
2. "Economies of scope" exhibits when the joint cost of producing two or more goods is less than the sum of the separate costs. One of the examples is the oil refinery using the exhausted heat to cogenerate electric power. Please provide one more example of industry exhibiting economies of scope. A URL reference link to support your answer is a plus. Please answer all the two questions by one paragraph for each
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm experiences [ (Click to select) diseconomies of scale diminishing marginal returns increasing marginal returns b. The minimum efficient scale is the level of output produced by the smallest firm in the industry. smallest level of output at which a firm can produce. only level of output where long-run average total costs are minimized. smallest level of output needed to attain...
28 When there are external economies of scale, an increase in the size of the market will: A) not affect the number of firms, but will lower the price per unit. B) decrease the number of firms and lower the price per unit. C) decrease the number of firms and raise the price per unit. D) increase the number of firms and raise the price per unit. E) increase the number of firms and lower the price per unit. -...
... Assignment #3 0 Seved Help Save Columbia Products produced and sold 900 units of the company's only product in March. You have collected the following information from the accounting records: Sales price (per unit) Manufacturing costa: Fixed overhead (for the month) Direct labor (per unit) Direct materials (per unit) Variable overhead (per unit) Marketing and administrative costs: Fixed cost (for the month) Variable costs (per unit) 448 50,400 35 112 70 67,500 14 es Required: a. Compute the following:...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these products were processed further. Production and sales were: Additional Processing Costs $250,200 Product Weight Sales P 417,000 lbs. $333,600 @ 180,000 lbs. 54,000 R 180,000 lbs. 315,000 -0- 180,000 If the estimated net realizable value method is used and product Q is accounted for as a main product, how much of the joint costs would be allocated to product R? Multiple Choice 0 $78,889....
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