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Ans) the correct option is c) it exceeds marginal productivity.
Average productivity will fall as long as it exceeds marginal productivity.
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Question 19 1 pts Average productivity will fall as long as it is less than marginal...
15. When marginal cost is less than average total cost, a. marginal cost must be falling....
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
price is less than the average variable cost and the marginal cost must be falling O...
price is less than the average variable cost and the marginal cost must be falling O marginal cost is greater than marginal revenue. All this is contingent upon the conditions that the price is less than the average total cost and the marginal cost must be falling D Question 12 5 pts The demand curve of a typical firm in monopolistic competition is: O upward-sloping and less-elastic (steeper) than a perfectly competitive firm's demand curve. O downward-sloping and less-elastic than...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to red...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal...
Question 21 4 pts In the short run, a firm will stay in business as long...
Question 21 4 pts In the short run, a firm will stay in business as long as: o marginal revenue is greater than or equal to marginal cost O price equals average revenue Oprice exceeds average variable cost. O price is less than average variable cost Question 22 4 pts The point of maximum profit for a business firm is where: PEATC OTRETC TR=MR OMR = MC
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output...
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output levels price exceeds marginal revenue at all output levels price is less than marginal revenue only at the profit-maximizing quantity price equals marginal revenue only at the profit-maximizing quantity price equals marginal revenue at all output levels
(c)Average variable cost is falling as output rises if output is less than.. . . and...
(c)Average variable cost is falling as output rises if output is less than.. . . and rising as output rises if output is greater than............ (d) Marginal cost equals average variable cost when output is......... () The firm will supply zero output if the price is less than....... (f) The smlest positive amount that the firm will ever supply at any price is At . . . what price would the firm supply exactly 6 units of output? .. ....
Please provide full explanation . Thank you! Question A3 If a firm's average revenue function is...
Please provide full explanation . Thank you!
Question A3 If a firm's average revenue function is greater than its marginal revenue function, then its a) average revenue function must be falling. b) average revenue function must be rising. c) average revenue function may be rising, falling or flat d) marginal revenue function is rising Question A4 For a profit-maximising monopolist, output should be increased to enhance welfare as long as: a) marginal revenue exceeds marginal cost b) marginal revenue exceeds...
Suppose that average productivity of Chinese firms increases more rapidly than the average productivity of Australian...
Suppose that average productivity of Chinese firms increases more rapidly than the average productivity of Australian firms, then: production costs in China rise, quantity demanded for Chinese products falls, and the value of yuan rises against the Australian dollar. production costs in China rise, quantity demanded for Chinese products rises, and the value of yuan rises against the Australian dollar. production costs in China fall, quantity demanded for Chinese products rise, and the value of yuan rises against the Australian...
Fill in the blank: 1. If long-run average costs fall with output, you have increasing returns...
Fill in the blank: 1. If long-run average costs fall with output, you have increasing returns to scale or ______ of scale. 2. The law of diminishing ________ returns states that as you try to expand output, your marginal productivity (the extra output associated with extra inputs) eventually declines. 3. A ________firm cannot affect price, so there is little a competitive firm can do except react to industry price. I think the answers are economies, marginal, and competitive, but I...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
price is less than the average variable cost and the marginal cost must be falling O marginal cost is greater than marginal revenue. All this is contingent upon the conditions that the price is less than the average total cost and the marginal cost must be falling D Question 12 5 pts The demand curve of a typical firm in monopolistic competition is: O upward-sloping and less-elastic (steeper) than a perfectly competitive firm's demand curve. O downward-sloping and less-elastic than...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal...
Question 21 4 pts In the short run, a firm will stay in business as long as: o marginal revenue is greater than or equal to marginal cost O price equals average revenue Oprice exceeds average variable cost. O price is less than average variable cost Question 22 4 pts The point of maximum profit for a business firm is where: PEATC OTRETC TR=MR OMR = MC
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output levels price exceeds marginal revenue at all output levels price is less than marginal revenue only at the profit-maximizing quantity price equals marginal revenue only at the profit-maximizing quantity price equals marginal revenue at all output levels
(c)Average variable cost is falling as output rises if output is less than.. . . and rising as output rises if output is greater than............ (d) Marginal cost equals average variable cost when output is......... () The firm will supply zero output if the price is less than....... (f) The smlest positive amount that the firm will ever supply at any price is At . . . what price would the firm supply exactly 6 units of output? .. ....
Please provide full explanation . Thank you!
Question A3 If a firm's average revenue function is greater than its marginal revenue function, then its a) average revenue function must be falling. b) average revenue function must be rising. c) average revenue function may be rising, falling or flat d) marginal revenue function is rising Question A4 For a profit-maximising monopolist, output should be increased to enhance welfare as long as: a) marginal revenue exceeds marginal cost b) marginal revenue exceeds...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
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