1. The long-run average cost curve slopes upward if there are: A. economies of scale B....
1. The long-run average cost curve slopes upward if there are:
A. economies of scale
B. diseconomies of scope in the management of multiplant operates
C. Some factors without diminishing marginal returns
D. diseconomies of scale
E. no factor without diminishing marginal returns
Homework Answers
Answer to the above-mentioned question is option A that is economies of sales.
The long-run average cost curve represent the least cost per unit of the firm . And ar every strata of the output it pretentious that all of the factor of the production often changes.
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1. The long-run average cost curve slopes upward if there
are:
A. economies of scale
B....
A firm will continue to operate in the long run only if: it earns a positive...
A firm will continue to operate in the long run only if: it earns a positive rate of return. it earns a nonnegative economic profit. it makes a positive accounting profit. average cost exceeds price. the average variable cost exceeds price. A profit-maximizing firm should shut down in the short run if: price is greater than marginal cost. total revenue is less than total variable cost. the firm is earning less than a normal rate of return. the firm is...
The average variable cost curve slopes upward with a higher rate of output in the short...
The average variable cost curve slopes upward with a higher rate of output in the short run because of A. The effect of diminishing returns. B. The shape of the average fixed cost curve. C. Diseconomies of scale. D. Implicit but not explicit costs.
(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...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because of a. diseconomies of scale. b. diminishing marginal revenues. c. rising fixed costs. d. increasing marginal productivity of variable inputs. e. diminishing marginal returns. . If the long-run average cost of production falls as the firm increases its level of output, then the firm exhibits a. constant returns to scale. b. constant marginal costs. c. economies of scale. d. diseconomies of scale. e. diminishing...
Which of the following is NOT true about the long run average cost curve (LRAC)? Select...
Which of the following is NOT true about the long run average cost curve (LRAC)? Select one: a. the shape of the LRAC is due to economies and diseconomies of scale b. the LRAC is influenced by the short run average cost curves c. the LRAC represents the least expensive average cost curve for any level of output d. the shape of the LRAC is due to the law of diminishing marginal returns
The upward sloping portion of a short-run total cost curve illustrates: a. Diseconomies to scale b....
The upward sloping portion of a short-run total cost curve illustrates: a. Diseconomies to scale b. Neither of the above c. Diminishing marginal returns
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...
QUESTION 30 A downward-sloping portion of a long-run average total cost curve is the result of:...
QUESTION 30 A downward-sloping portion of a long-run average total cost curve is the result of: economies of scale. diseconomies of scale. diminishing returns. the existence of fixed resources. 2.5 points QUESTION 31 In the long run, firms in many industries often experience a falling average total cost curve as a result of: gains through trade. increasing marginal returns. economies of scale. lower fixed costs. 2.5 points QUESTION 32 A large aircraft manufacturer, like Boeing, may have a...
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...
A firm’s marginal cost decreases when it has _______ and its long run average total cost...
A firm’s marginal cost decreases when it has _______ and its long run average total cost decreases when it has _______. A. diminishing marginal returns, decreasing returns to scale B.diminishing marginal returns, increasing returns to scale C. diminishing marginal returns, economies of scope D.increasing marginal returns, increasing returns to scale E. increasing marginal returns, decreasing returns to scale
(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...
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...
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