Homework Answers
a)Th most efficient size of firm is where AC(average cost) is minimum at the minimum point of AC firm will have most efficient size of firm & producing capacity output
Along curve C which is tangent the curve E(long runAC) at it's minimum point firm is experiencing minimum average cost.
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firm operating along curve C would be C D 100 200 300 400 500 Output the...
If the firm's current capacity is on curve C but it produces at an output of...
If the firm's current capacity is on curve C but it produces at an output of 100, further growth of output would yield: C D 0 100 200 300 400 500 Output economies of scale. O diseconomies of scale. constant returns to scale. reduced profits.
Part 1: When a firm operates with economies of scale, average production costs: 1) rise when...
Part 1:
When a firm operates with economies of scale, average production
costs:
1) rise when the firm gets larger.
2) fall as the firm gets larger.
3) fall as the firm gets smaller.
4) are unaffected by firm size.
Part 2:
“U-shaped” long-run average cost curves show that as firms get
larger, they usually experience:
1) economies of scale.
2) constant returns to scale.
3) diseconomies of scale.
4) a, b, and c, in that order.
Part 3:
This...
When the firm increases output and the costs rise disproportionately slower, then the long-run average cost curve is _a...
When the firm increases output and the costs rise disproportionately slower, then the long-run average cost curve is _and the firm is experiencing O A. horizontal, constant returns to scale OB. upward sloping; diseconomies of scale O C. downward sloping; constant returns to scale OD. downward sloping, economies of scale
mcrang on curvenb producing 100 nts C D 100 200 300 400 500 Output under-utilizes its...
mcrang on curvenb producing 100 nts C D 100 200 300 400 500 Output under-utilizes its capacity over-utilizes its capacity utilize its capacity efficiently. None of the above.
The curves labeled A, B, C, and D are: C D 100 200 300 400 500...
The curves labeled A, B, C, and D are: C D 100 200 300 400 500 Output short-run average total cost curves. long-run average cost curves. short-run total cost curves. long-run total cost curves.
Table 13-16 Listed in the table are the long-run total costs for three different firms. Output...
Table 13-16 Listed in the table are the long-run total costs for three different firms. Output Size 1 Unit 2 Units 3 Units 4 Units 5 Units Firm A $100 $110 $120 $130 $140 Firm B $100 $200 $300 $400 $500 Firm C $100 $300 $600 $1,000 $1,500 Refer to Table 13-16. Firm C is experiencing economies of scale. True False
A 26. Assume that in the short run a firm is producing 100 units of output,...
A 26. Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and average variable costs of $150. The firm's total fixed costs are: A. $5,000. B. $500. C. $.50. D. 550. 27. In the short run the Sure-Screen T-Shirt Company is producing 500 units of output. Its average variable costs are $2.00 and its average fixed costs are 5.50. The firm's total costs: A. are $2.50 B. are $1,250...
whats the value of the standard deviation of this normal curve. 0 100 200 300 400...
whats the value of the standard deviation of this normal
curve.
0 100 200 300 400 500
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...
Output Price Marginal Cost 100 7.50 0.50 200 7 1.50 300 6.50 2.50 400 6 3.50...
Output Price Marginal Cost 100 7.50 0.50 200 7 1.50 300 6.50 2.50 400 6 3.50 500 5.50 5.50 600 5 6.50 Please consider the above data for a monopolist. At which output level does the monopolist maximize its profits (or minimize its losses)? At an output of 500 At an output of 400 At an output of 300 At an output of 200 At an output of 600 Part b: Output Price TR MR...
If the firm's current capacity is on curve C but it produces at an output of 100, further growth of output would yield: C D 0 100 200 300 400 500 Output economies of scale. O diseconomies of scale. constant returns to scale. reduced profits.
Part 1:
When a firm operates with economies of scale, average production
costs:
1) rise when the firm gets larger.
2) fall as the firm gets larger.
3) fall as the firm gets smaller.
4) are unaffected by firm size.
Part 2:
“U-shaped” long-run average cost curves show that as firms get
larger, they usually experience:
1) economies of scale.
2) constant returns to scale.
3) diseconomies of scale.
4) a, b, and c, in that order.
Part 3:
This...
When the firm increases output and the costs rise disproportionately slower, then the long-run average cost curve is _and the firm is experiencing O A. horizontal, constant returns to scale OB. upward sloping; diseconomies of scale O C. downward sloping; constant returns to scale OD. downward sloping, economies of scale
mcrang on curvenb producing 100 nts C D 100 200 300 400 500 Output under-utilizes its capacity over-utilizes its capacity utilize its capacity efficiently. None of the above.
The curves labeled A, B, C, and D are: C D 100 200 300 400 500 Output short-run average total cost curves. long-run average cost curves. short-run total cost curves. long-run total cost curves.
A 26. Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and average variable costs of $150. The firm's total fixed costs are: A. $5,000. B. $500. C. $.50. D. 550. 27. In the short run the Sure-Screen T-Shirt Company is producing 500 units of output. Its average variable costs are $2.00 and its average fixed costs are 5.50. The firm's total costs: A. are $2.50 B. are $1,250...
whats the value of the standard deviation of this normal
curve.
0 100 200 300 400 500
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...
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