Which of the four firms is output increasing more than in proportion to inputs for all output levels?
C?
Homework Answers
when the output of the firm increases more than the input then the total cost as relative to output will be decreasing as we are producing more at a less input. that will make the curve slope downward. the answer is "A".
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Which of the four firms is output increasing more than in proportion to inputs for all output levels? C? Firm A Firm...
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Input/Output Help Suppose that in order to produce a good, Y, a firm needs three inputs,...
Input/Output Help
Suppose that in order to produce a good, Y, a firm needs three inputs, capital, K, labor, L, and finally, land, W. With these a firm can produce Y- K L w° where a+b+g 1. If a firm double all inputs, what will happen to his the output? Select one a. It will double. O b. More information is needed c. It will less than double. O d. It will more than double
A firm uses two inputs x1 and x2 to produce output y. The production function is...
A firm uses two inputs x1 and x2 to produce
output y. The production function is given by f(x1, x2) = p
min{2x1, x2}. The price of input 1 is 1 and the price of input 2 is
2. The price of output is 10.
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QUESTION 31 at all positive output levels. In the short run, a perfectly competitive firm will...
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Consider an industry with a homogeneous product where firms set output (or capacity) levels and price...
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QUESTION 7 An industry is likely to be an increasing-cost industry when all firms are identical...
QUESTION 7 An industry is likely to be an increasing-cost industry when all firms are identical if it is only a small fraction of the total demand for inputs industry expansion permits the development of other industries some firms are more efficient than others
Most firms will eventually face increasing average costs as they try to increase output. The firm finds that each extra unit of output requires more inputs to produce than previous units, an outcome described as the law of diminishing marginal returns. The law of diminishing marginal returns states that as you try to expand output, your marginal productivity (the extra output associated with extra inputs) eventually declines The law of diminishing returns can limit the economies of scale and economies...
Industry A has four firms. The largest firm in Industry A has more than 90 percent of the market share. Industry B also has four firms, but each of those four firms in Industry B has 25 percent of the market share. The Herfindahl-Hirschman index will be A. larger for Industry B than Industry A, but the four-firm concentration will be the same. В. tte same for both industries, but the four-firm concentration will be larger for industry Y than Industry A C....
Input/Output Help
Suppose that in order to produce a good, Y, a firm needs three inputs, capital, K, labor, L, and finally, land, W. With these a firm can produce Y- K L w° where a+b+g 1. If a firm double all inputs, what will happen to his the output? Select one a. It will double. O b. More information is needed c. It will less than double. O d. It will more than double
A firm uses two inputs x1 and x2 to produce
output y. The production function is given by f(x1, x2) = p
min{2x1, x2}. The price of input 1 is 1 and the price of input 2 is
2. The price of output is 10.
4. A firm uses two inputs 21 and 22 to produce output y. The production function is given by f(x1, x2) = V min{2x1, x2}. The price of input 1 is 1 and the price...
QUESTION 31 at all positive output levels. In the short run, a perfectly competitive firm will always shut down if total revenue is a. less than total cost but greater than variable cost b. less than variable cost c. less than total cost but greater than fixed cost d. greater than fixed cost
QUESTION 7 An industry is likely to be an increasing-cost industry when all firms are identical if it is only a small fraction of the total demand for inputs industry expansion permits the development of other industries some firms are more efficient than others
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