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
Homework Answers
Ans) the correct option is B.diminishing marginal returns, increasing returns to scale
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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...
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 increasing returns to scale 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...
(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...
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
In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200...
In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of $9,200, then in this output range there are Select one: a. economies of scale b. increasing marginal returns c. diminishing marginal returns d. decreasing marginal costs e. diseconomies of scale
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...
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...
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...
Question 9 1 pts Which of the following is correct regarding penetration pricing? There is more...
Question 9 1 pts Which of the following is correct regarding penetration pricing? There is more than one answer to this question. You must mark all of the answers to receive full credit for this question. It is a strategy that is commonly found among perfectly competitive firms. It is used by firms with a long history in an industry that try to capture sales from new firms that are entering the industry. It is a strategy that is defined...
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price...
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price discrimination? Group of answer choices a.The firm’s marginal revenue will be lower in the market with the more elastic demand. b.The firm sets the price higher in the market with the more elastic demand. c.The firm sets the price lower in the market with the more inelastic demand. d.The firm’s marginal revenue will be higher in the market with the more elastic demand. e.None...
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...
(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...
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...
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...
Question 9 1 pts Which of the following is correct regarding penetration pricing? There is more than one answer to this question. You must mark all of the answers to receive full credit for this question. It is a strategy that is commonly found among perfectly competitive firms. It is used by firms with a long history in an industry that try to capture sales from new firms that are entering the industry. It is a strategy that is defined...
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