Marginal productivity Archives

What can you conclude about the returns to scale of the firm’s production function after the analysis in point (c)? Assume that each good can be sold at a price of $10. What is the effect of the CEO’s decision on profits? Would you agree with his choice?

Posted on March 1, 2023 by Assessments

Microecon problem set PART I: PRODUCTION FUNCTIONS 1. State whether the following claim is true or false, and briefly explain your answer. The following production function exhibits increasing returns to scale: Q= I, +1(1 2. Erin’s admission to a prestigious music school depends on the total score (Q) the admissions office decides to assign her. […]

What is different about these AP and MP curves? Do they look like regular AP and MP curves?Does the firm experience diminishing marginal returns? Why or why not. Explain.

Posted on October 27, 2022 by Assessments

Homework 2 ECO3101 Fall 2022 1. Consider the graph below which illustrates a given firm’s AP and MP curves: a. At what level of output is AVC minimized? Explain your answer. b. When 15 workers are hired, what is the firm’s AVC if w = 300? c. When 15 workers are hired, what is the […]

Distinguish between the short run and the long run. What will differentiate the short run and the long run?

Posted on March 9, 2022March 9, 2022 by Ambrose

Prior to beginning work on this discussion forum, read Chapter 7 of the textbook. Sarah owns a bakery that has four ovens, one full-time exempt administrative employee, and eight part-time hourly bakers. Based on this information, respond to the following: Distinguish between the short run and the long run. What will differentiate the short run […]

Why may these average STC figures not represent the economic cost of providing inpatient services at these two hospitals? Explain fully.

Posted on November 27, 2021 by Ambrose

Medical Care Production and costs Assignments The following Assignments should be completed and submitted to the course faculty via the learning platform for evaluation and grading. Submit your responses to these questions in one WORD document. List the question first, and then your response. Be sure to properly site your sources, both in-text and with […]

If you increase production to an infinitely large level, the average variable cost and the average total cost will merge. Why?Explain

Posted on November 8, 2021 by Ambrose

If you increase production to an infinitely large level, the average variable cost and the average total cost will merge. Why? Economics 2030 LSU discussion Forum Examples As we look at the effect of the marginal cost on the average total cost and the average variable cost, the marginal cost curve pulls the other curves […]

Essay Quoll

Tag: Marginal productivity

What can you conclude about the returns to scale of the firm’s production function after the analysis in point (c)? Assume that each good can be sold at a price of $10. What is the effect of the CEO’s decision on profits? Would you agree with his choice?

What is different about these AP and MP curves? Do they look like regular AP and MP curves?Does the firm experience diminishing marginal returns? Why or why not. Explain.

Distinguish between the short run and the long run. What will differentiate the short run and the long run?

Why may these average STC figures not represent the economic cost of providing inpatient services at these two hospitals? Explain fully.

If you increase production to an infinitely large level, the average variable cost and the average total cost will merge. Why?Explain