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Question 20 If Q-0.5L +0.2K, what happens to average cost as the firm expands (produces more)?...
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the...
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the firm expands (produces more)? AC decreases AC stays constant AC reaches its maximum AC increases
If Q = 2LK2 , what happens to average cost as the firm expands (produces more)?...
If Q = 2LK2 , what happens to average cost as the firm expands (produces more)? AC reaches its maximum AC increases AC decreases AC stays constant
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the...
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the firm expands (produces more)? AC decreases AC is constant AC increases AC reaches its maximum - Previous Next →
Refer to the following table. What is the average variable cost of producing three units of...
Refer to the following table. What is the average variable cost of producing three units of the good? Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 — — — — — — — 2 — — $600 — — — — 3 — — — — ????? — $20 4 — $440 — — — — — 5 $500 — — — — — — a. $20...
QUESTION 46 of the firm produces 120 units of output with 12 workers, what is the average product of labor? 10 unit...
QUESTION 46 of the firm produces 120 units of output with 12 workers, what is the average product of labor? 10 units 12 workers 120 units 1200 units QUESTION 47 If the firm produces 120 units of output with 12 workers and 121 units of putput with 13 work 10 units duct of labor 1 unit 121 units QUESTION 43 Which of these assumption is realistic for a firm in the short run? Both the stre of the factory and...
Question 7 If the marginal product of labor for a firm decreases as more workers are...
Question 7 If the marginal product of labor for a firm decreases as more workers are hired, we know that there are still gains from specialization left to be exploited. the marginal cost of producing output is constant. all workers are paid the same wage. the gains from specialization are exhausted. the marginal cost of producing output is decreasing. Previous Next No new data to save. Last checked at 1:31pm Submit Q d) Prtscn Home FE 8
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
Question 31 1 pts A firm produces automobiles using labor as its variable input. The output...
Question 31 1 pts A firm produces automobiles using labor as its variable input. The output per labor hour is one automobile and each additional labor hour could produce two additional automobiles. Suppose that the firm increases its labor hours. Is this a sound economic decision? No, since average product of labor (APL) would decrease. Yes, since average product of labor (APL) is at a maximum. No, since marginal cost (MC) is at a minimum. Yes, since average variable cost...
Question 18 Assume TC = 363 +350 +3Q2. At what Q is average cost at its...
Question 18 Assume TC = 363 +350 +3Q2. At what Q is average cost at its minimum? Enter as a value. < Previous Not sa
QUESTION 6 1 poin Production. A firm uses capital and labour to produce output according to...
QUESTION 6 1 poin Production. A firm uses capital and labour to produce output according to the following production function: q(KL)=KL. It pays $15 per hour for using capital and hires labour at $20 per hour. Select all that applies: a. The long run output expansion path for this firm is a straight line Marginal rate of technical substitution is given by MRTSu" SLK 2L O C. This production function exhibits constant return to scale. O d. Assume that the...
z Instructions Question 20 If Q = 0.5L +0.2K, what happens to average cost as the firm expands (produces more)? AC decreases AC stays constant AC reaches its maximum AC increases
Question 20 1 pts If Q = 2L +3K2, what happens to average cost as the firm expands (produces more)? AC decreases AC is constant AC increases AC reaches its maximum - Previous Next →
QUESTION 46 of the firm produces 120 units of output with 12 workers, what is the average product of labor? 10 units 12 workers 120 units 1200 units QUESTION 47 If the firm produces 120 units of output with 12 workers and 121 units of putput with 13 work 10 units duct of labor 1 unit 121 units QUESTION 43 Which of these assumption is realistic for a firm in the short run? Both the stre of the factory and...
Question 7 If the marginal product of labor for a firm decreases as more workers are hired, we know that there are still gains from specialization left to be exploited. the marginal cost of producing output is constant. all workers are paid the same wage. the gains from specialization are exhausted. the marginal cost of producing output is decreasing. Previous Next No new data to save. Last checked at 1:31pm Submit Q d) Prtscn Home FE 8
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
Question 31 1 pts A firm produces automobiles using labor as its variable input. The output per labor hour is one automobile and each additional labor hour could produce two additional automobiles. Suppose that the firm increases its labor hours. Is this a sound economic decision? No, since average product of labor (APL) would decrease. Yes, since average product of labor (APL) is at a maximum. No, since marginal cost (MC) is at a minimum. Yes, since average variable cost...
Question 18 Assume TC = 363 +350 +3Q2. At what Q is average cost at its minimum? Enter as a value. < Previous Not sa
QUESTION 6 1 poin Production. A firm uses capital and labour to produce output according to the following production function: q(KL)=KL. It pays $15 per hour for using capital and hires labour at $20 per hour. Select all that applies: a. The long run output expansion path for this firm is a straight line Marginal rate of technical substitution is given by MRTSu" SLK 2L O C. This production function exhibits constant return to scale. O d. Assume that the...
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