In what environment do "constant returns to scale" occur? a. when the LRAC decreases as quantity...
In what environment do "constant returns to scale" occur?
a. when the LRAC decreases as quantity increases.
b. when the LRAC remains constant as quantity increases.
c. when the LRAC decreases as quantity decreases.
d. when the LRAC increases as quantity increases.
Homework Answers
b is correct
When there are constant returns to scale LRAC is horizontal and thus remains constant with increase in quantity produced.
Add Answer to:
In what environment do "constant returns to scale" occur?
a. when the LRAC decreases as quantity...
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...
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...
Which of the following statements is accurate? Select the correct answer below: A. when the long-run...
Which of the following statements is
accurate?
Select the correct answer below:
A. when the long-run average cost (LRAC)
decreases as output increases, a firm is experiencing diseconomies
of scale.
B. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing diseconomies
of scale.
C. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing economies of
scale.
D. when the long-run average cost (LRAC)
decreases as output increases, a firm is...
please answer all questions!!! When do constant returns to scale occur when long-run total costs are...
please answer all questions!!!
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 curv is rising as output increases Scenario 13-5 A stationery firm produces and sells staplers. Last year, it produced 5000 staplers and sold each stapler for $10. In producing the 5000 staplers, it incurred...
FRATC4 RATO, SRATC SRBATC2 (dollars) 1,000 4,000 2,000 3,000 Quantity 23. In Exhibit 6-14, a firm...
FRATC4 RATO, SRATC SRBATC2 (dollars) 1,000 4,000 2,000 3,000 Quantity 23. In Exhibit 6-14, a firm finds that it is experiencing numerous managerial and information problems. The position of its short and long-run average total cost curves suggest that it is operating at a production level: a. between 0 and 1,000. b. between 1,000 and 2,000. c. between 2,000 and 3,000. d. between 3,000 and 4,000. e. where it should shut down immediately. 24. In Exhibit 6-14, the U-shaped LRAC...
1 Discuss the nature of the “returns to scale” associated with production in the long-run, giving...
1 Discuss the nature of the “returns to scale” associated with production in the long-run, giving an explanation how average cost decreases, remains constant and increases and how they impact the output level.
Question 19 (0.5 points) What happens to price and quantity traded when supply decreases but demand...
Question 19 (0.5 points) What happens to price and quantity traded when supply decreases but demand stays constant? 1) Price increases and quantity traded increases. 2) Price decreases and quantity traded decreases. O 3) Price increases and quantity traded decreases. ( 4) Price decreases and quantity traded increases.
1. For a constant returns to scale production function: a. marginal costs are constant but the...
1. For a constant returns to scale production function: a. marginal costs are constant but the average cost curve as a U-shape b. both average and marginal costs are constant c. marginal cost has a U-shape, average costs are constant d. both average and marginal cost curves are U-shaped 2. The production function q = 10K +50L exhibits: a. increasing returns to scale b. decreasing returns to scale c. constant returns to scale d. none of the above
Refer to the Figure below. The production function of the firm displays constant returns to scale...
Refer to the Figure below. The production function of the firm
displays constant returns to scale when output is increased from
_____.
The following figure shows the long-run average cost curve of a
firm.
a) A to E
b) C to D
c) D to E
d) A to B
e) B to D
Price Long-run average cost 0 B C Quantity
Returns to scale in production: Do the following production function exhibit increasing, constant, or decreasing returns...
Returns to scale in production: Do the following production function exhibit increasing, constant, or decreasing returns to scale in K and L? (Assume A is some fixed positive number.) (a) Y= K1/3L1/2 (b) Y=AK2/12/3 (c) Y= K1/2L1/2 (d) Y=K+ L (e) Y = K1/2L1/2 + L 2/3TI/3 2/3TI/3
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...
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...
Which of the following statements is
accurate?
Select the correct answer below:
A. when the long-run average cost (LRAC)
decreases as output increases, a firm is experiencing diseconomies
of scale.
B. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing diseconomies
of scale.
C. when the long-run average cost (LRAC)
increases as output increases, a firm is experiencing economies of
scale.
D. when the long-run average cost (LRAC)
decreases as output increases, a firm is...
please answer all questions!!!
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 curv is rising as output increases Scenario 13-5 A stationery firm produces and sells staplers. Last year, it produced 5000 staplers and sold each stapler for $10. In producing the 5000 staplers, it incurred...
FRATC4 RATO, SRATC SRBATC2 (dollars) 1,000 4,000 2,000 3,000 Quantity 23. In Exhibit 6-14, a firm finds that it is experiencing numerous managerial and information problems. The position of its short and long-run average total cost curves suggest that it is operating at a production level: a. between 0 and 1,000. b. between 1,000 and 2,000. c. between 2,000 and 3,000. d. between 3,000 and 4,000. e. where it should shut down immediately. 24. In Exhibit 6-14, the U-shaped LRAC...
Question 19 (0.5 points) What happens to price and quantity traded when supply decreases but demand stays constant? 1) Price increases and quantity traded increases. 2) Price decreases and quantity traded decreases. O 3) Price increases and quantity traded decreases. ( 4) Price decreases and quantity traded increases.
Refer to the Figure below. The production function of the firm
displays constant returns to scale when output is increased from
_____.
The following figure shows the long-run average cost curve of a
firm.
a) A to E
b) C to D
c) D to E
d) A to B
e) B to D
Price Long-run average cost 0 B C Quantity
Returns to scale in production: Do the following production function exhibit increasing, constant, or decreasing returns to scale in K and L? (Assume A is some fixed positive number.) (a) Y= K1/3L1/2 (b) Y=AK2/12/3 (c) Y= K1/2L1/2 (d) Y=K+ L (e) Y = K1/2L1/2 + L 2/3TI/3 2/3TI/3
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