Homework Answers
C. long-run average total costs are increasing as output increases.
(Diseconomies of scale occur along the rising portion of the LRATC.)
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Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as...
These two question please Question 8 (1 point) When do constant returns to scale occur? when...
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Aver...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost increases. B) long-run average cost decreases. C) short-run average total cost decreases. D) long-run average cost stays constant 14. Economies of scale can occur as a result of which of the following? A) increasing marginal costs as the firm increases its size B) higher fixed cost as the firm increases its size C) management difficulties as the firm increases its size D) greater specialization...
Un Costs Long Run Outpt Refer to the above diagram. Diseconomies of scale occur of Scale...
Un Costs Long Run Outpt Refer to the above diagram. Diseconomies of scale occur of Scale occur and Economies between O and Q1: Between O and Q3 between Q2 and Q3: Between Q1 and Q2. over the entire range of output: After Q3. after Q3: Between O and Q1 output range. Question 27 0.6 pts Vesoro is one of more than a hundred competitive price-taking firms in New York City that produce medium cardboard boxes for moving. If the market...
What is the difference between "diminishing marginal returns" and "diseconomies of scale"? a. Both concepts explain...
What is the difference between "diminishing marginal returns" and "diseconomies of scale"? a. Both concepts explain why marginal cost increases after some point but diminishing marginal returns applies only in the short run when there is at least one fixed factor, while diseconomies of scale applies in the long run when all factors are variable. b. Both concepts explain why average total cost increases after some point but diminishing marginal returns applies only in the short run when there is...
If a firm is experiencing increasing return to scale: a. there are diseconomies of scale b....
If a firm is experiencing increasing return to scale: a. there are diseconomies of scale b. there would be savings in costs if the firm reduced its size c. long-run average costs are decreasing in the quantity produced d. marginal costs are increasing in the quantity produced e. marginal costs are decreasing in the quantity produced
please answer all questions!!! When do constant returns to scale occur when long-run total costs are...
please answer all questions!!!
When do constant returns to scale occur when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curv is rising as output increases Scenario 13-5 A stationery firm produces and sells staplers. Last year, it produced 5000 staplers and sold each stapler for $10. In producing the 5000 staplers, it incurred...
1) When a binding price ceiling is imposed on a market, price no longer serves...
1) When a binding price ceiling is imposed on a market, price no longer serves as a rationing device. the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling. all buyers benefit. All of the above are correct. 2) Constant returns to scale occur when a firm’s marginal costs are constant as output increases. long-run average total costs are decreasing as output increases. long-run average total costs...
Choose a,b,c,d 8. Diseconomies of scale exist when A) the firm's total cost falls as the...
Choose a,b,c,d
8. Diseconomies of scale exist when A) the firm's total cost falls as the level of output increases. B) the firm's total cost increases as the level of output increases. C) the firm's average cost decreases as the level of output decreases. D) the firm'sqverage cost decreases as the level of output increases. i . on were a is outnut and all fixed costs
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of...
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of output. b. is always equal to or greater than short-run average total cost. c. can be measured in the short-run. If a firm is producing the level of output at which long-run average cost equals long-run marginal cost, then a long-run marginal cost is at its minimum point b. long run average cost is at its minimum point. c long...
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
13. As output (plant size) increases, economies of scale occur when the A) long-run average cost increases. B) long-run average cost decreases. C) short-run average total cost decreases. D) long-run average cost stays constant 14. Economies of scale can occur as a result of which of the following? A) increasing marginal costs as the firm increases its size B) higher fixed cost as the firm increases its size C) management difficulties as the firm increases its size D) greater specialization...
Un Costs Long Run Outpt Refer to the above diagram. Diseconomies of scale occur of Scale occur and Economies between O and Q1: Between O and Q3 between Q2 and Q3: Between Q1 and Q2. over the entire range of output: After Q3. after Q3: Between O and Q1 output range. Question 27 0.6 pts Vesoro is one of more than a hundred competitive price-taking firms in New York City that produce medium cardboard boxes for moving. If the market...
If a firm is experiencing increasing return to scale: a. there are diseconomies of scale b. there would be savings in costs if the firm reduced its size c. long-run average costs are decreasing in the quantity produced d. marginal costs are increasing in the quantity produced e. marginal costs are decreasing in the quantity produced
please answer all questions!!!
When do constant returns to scale occur when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curv is rising as output increases Scenario 13-5 A stationery firm produces and sells staplers. Last year, it produced 5000 staplers and sold each stapler for $10. In producing the 5000 staplers, it incurred...
Choose a,b,c,d
8. Diseconomies of scale exist when A) the firm's total cost falls as the level of output increases. B) the firm's total cost increases as the level of output increases. C) the firm's average cost decreases as the level of output decreases. D) the firm'sqverage cost decreases as the level of output increases. i . on were a is outnut and all fixed costs
Question 3 Long-run average total cost (LAC) O a represents the lowest average cost of producing a given level of output. b. is always equal to or greater than short-run average total cost. c. can be measured in the short-run. If a firm is producing the level of output at which long-run average cost equals long-run marginal cost, then a long-run marginal cost is at its minimum point b. long run average cost is at its minimum point. c long...
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