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 at least one fixed factor, while diseconomies of scale applies in the long run when all factors are variable.
c. Diminishing marginal returns which applies only in the short run, when at least one factor is fixed, explains why marginal cost increases, while diseconomies of scale which applies in the long run, when all factors are variable, explains why average cost increases.
d. Diminishing marginal returns which applies only in the short run, when at least one factor is fixed, explains why average variable cost increases, while diseconomies of scale which applies in the long run, when all factors are variable, explains why average total cost increases.
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What is the difference between "diminishing marginal returns"
and "diseconomies of scale"?
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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...
Assume labor is the only variable input and that the law of diminishing returns applies, explain...
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1. The long-run average cost curve slopes upward if there are: A. economies of scale B....
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Which of the following statements about the law of diminishing returns are Correct? pick one The law of diminishing returns says that a firm’s marginal cost curve will eventually slope upwardly as it produce more and more output. The existence of fixed inputs ensures that the law of diminishing returns will eventually set in as more variable inputs are added to the production. The law of diminishing returns ensures that diseconomies of scale will eventually set in as more inputs...
Which of the following statements about the law of diminishing returns are Correct? The law of...
Which of the following statements about the law of diminishing returns are Correct? The law of diminishing returns says that a firm’s marginal cost curve will eventually slope upwardly as it produce more and more output. The existence of fixed inputs ensures that the law of diminishing returns will eventually set in as more variable inputs are added to the production. The law of diminishing returns ensures that diseconomies of scale will eventually set in as more inputs are added...
Question 19 The law of diminishing marginal returns explains the general shape of the firm's a...
Question 19 The law of diminishing marginal returns explains the general shape of the firm's a short-run cost curves. ob the laws of diminishing returns has nothing to do with cost curves c. long-run cost curves! d. both short-run and long-run cost curves.
A firm will continue to operate in the long run only if: it earns a positive...
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Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as...
Question 5 1 pts Diseconomies of 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 are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
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...
Question 19 The law of diminishing marginal returns explains the general shape of the firm's a short-run cost curves. ob the laws of diminishing returns has nothing to do with cost curves c. long-run cost curves! d. both short-run and long-run cost curves.
Question 5 1 pts Diseconomies of 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 are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
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...
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