_(BLANK)_ is the general reason a firm experiences increasing marginal returns.
Division of labor
the above is answer..
it is achieved through the better production allocation
_(BLANK)_ is the general reason a firm experiences increasing marginal returns.
Up
to which level of output will the firm experience increasing
marginal returns? Explain why there are increasing marginal
returns. (4 marks)
Εοιιυιι ο (ο μυιΠιο) και ναντι Ise the figure below and answer bo MC ATC AVC Cost (dollars per gallon) 0 10 20 30 40 50 60 70 80 90 100 Quantity Igallons of ice cream per hour) Paragraph
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...
1) Draw a long-run average cost curve a firm that exhibits increasing returns and then constant returns. What are the major factors contributing to increasing returns? 2) "A competitive firm will never operate where marginal cost is less than average variable cost." Draw a diagram to illustrate this point and explain it
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
1- If a firm experiences diminishing marginal productivity, does this imply that they experience diseconomies of scale? Explain. 2- Allocative efficiency in perfectly competitive markets depends on the assumption that marginal cost to firms equals marginal cost to society. Using gasoline as an example, what might be some social costs that are not included in the marginal cost to the firm? Explain.
1- If a firm experiences diminishing marginal productivity, does this imply that they experience diseconomies of scale? Explain. 2- Allocative efficiency in perfectly competitive markets depends on the assumption that marginal cost to firms equals marginal cost to society. Using gasoline as an example, what might be some social costs that are not included in the marginal cost to the firm? Explain
If a firm experiences diminishing marginal productivity, does this imply that they experience diseconomies of scale? Explain
4. If a firm experiences diminishing marginal productivity, does this imply that they experience diseconomies of scale? Explain.