True or False: the productive efficient firm produces minimum cost output.
Ans: True
Explanation:
The productive efficient firm produces output at the minimum point of average total cost . So we can conclude that the productive efficient firm produces minimum cost output.
True or False: the productive efficient firm produces minimum cost output.
Suppose the minimum wage is increased. Imagine a firm that produces its output with minimum wage workers and capital. Further suppose it must produce the same level of output both before and after the minimum wage increases. Use the following two statements to answer this question: I. The greater is the elasticity of substitution of labor for capital, the larger will be the number of minimum wage workers who lose their jobs. II. The cost of producing the same level...
A cost-minimising firm produces output (q) using capital and labour as productive inputs. If, at the cost-minimising quantities of capital and labour, the marginal rate of technical substitution (of K for L, with labour on the horizontal axis) is -2, and the wage rate for labour is $5 per hour, what is the rental rate for capital in dollars? a) $0.50 b) $1 c) $2.50 d) $10 e) There is not enough information to answer this question.
true or false and why A competitive market with a negative eternally produces more output than is efficient.
4. Is monopolistic competition efficient? Suppose that a firm produces wool jackets in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity...
true or false: the efficient market hypothesie says that financial markets are efficient- they have minimum operational costs of running the market.
1. True or False: Maximizing output for a given cost is the same as minimizing costs for a given output. Explain your answer. 2. True or False: According to the most recent studies on hospital efficiency, for-profit hospitals appear more efficient than non-profit hospitals. Explain your answer.
4. Is monopolistic competition efficient? Suppose that a firm produces polo shirts in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity...
1. Is monopolistic competition efficient? Suppose that a firm produces wooden train engines in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quan tity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and...
3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with...
A minority gate produces a TRUE output if and only if fewer than half of its inputs are TRUE.Otherwise it produces FALSE output. Sketch a transistor-level circuit for three input CMOS minority gate. Use minimum number of transistors.