51. Which cost increases continuously with the increase in production?

Q: 1 3. For the technologies y=min{*,4.x, } and y=+x, compute: 4 a) the total cost and the cost of…

A: Marginal cost (MC) is the addition to the total cost by producing one more unit of output. Average…

Q: 9. The cost of one thing in terms of the alternative given up is called A. O Real cost B. O…

A: The cost of one thing in terms of the alternative given up is known to be as the Option(d) is…

Q: A 25% reduction in labor hours is obtained with 75% learning curve each time the production quantity…

A: The concept that depicts the doubling of production level is known as the learning curve. This…

Q: The amount of fish caught per week on a trawler is a function of the crew size assigned to operate…

A: The following information is given: The price P = $75 per week, Wage = $150 per week Total revenue…

Q: How firm choose optimum combination of inputs in short run and long run explain theoritically and…

A: There are two type of period in economics which are short run and long run. In the short run, there…

Q: 1. Define production.

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which method is economically efficient if: (i) The wage rate is $1 an hour and the rental cost of a…

A: For finding out which one is economically efficient we need to find out the one with lower total…

Q: Q What is the relationship between AVC and ATC? Why? Relationship They intersect Reason:

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: The following question is based on the production function D=80L0.7K0.3 where the cost of labour is…

A: The production function shows the relationship between the factors of production and the quantity of…

Q: Briefly explain (b) Why Law of diminishing return is more applicable in agriculture sector?

A: In the production process, different factors are used to produce the final output. Each factor has…

Q: 32. What ty pe of a production function which results from ite marginal phyaical product (MPP) that…

A: Production function is the mathematical expression to show the connection between the output…

Q: A motor vehicle assembly plant requires the use of both capital and labour. The Telsa manufacturing…

A: Diminishing return states that as the number of an input increases than the total product will…

Q: 2-If you have the following production function Q=f( L,K), answer the following : 1. is this…

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…

Q: Explain the 3 different stages of production

A: The rule of diminishing marginal returns is a principle that economists acknowledge as defining…

Q: What is the explicit and implicit cost? Can explicit or implicit be used for a business or…

A: Cost refers to the sum of money a corporation spends on making or producing products or services.…

Q: When the average cost of producing each individual unit declines as total output increases is…

A: Production function shows the relationship between inputs and output. It reflects how changes in…

Q: Explain the law of diminidhing returns whith a relevant example

A:

Q: In the short term, the company produces 800 units of production. The average variable costs (AVC) 93…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: 50. If all inputs are trebled and the resultant output is doubled, this is a case of

A: answer is given below

Q: il to his long run average cost of production ter than his long run average cost of production than…

A: Economies of scaleLong-run ATC falls as yield increments. Diseconomies of scale Long-run ATC ascends…

Q: gn ru

A: The long run is a concept in which all markets are in equilibrium, and  all quantities and prices…

Q: Define total cost, average total cost, and marginal cost. How are they related?

A: Production prices ar the expenses incurred by a firm once it manufactures a product or provides a…

Q: Farmer Greene faces diminishing marginal product.If she plants no seeds on her farm, she gets…

A: Law of diminishing marginal productivity states that the marginal production from the additional…

Q: Why does the marginal cost of production typically increase as the amount of output produced…

A: Marginal cost is the additional cost incurred to produce an additional unit of output.

Q: What stage of production is efficient region of production in short run?

A: There are three stage of production. The law of variable proportion can be divided into three…

Q: Until what a firm should continue to increase its production in order to maximize profit? a) Total…

A: The goal of almost all firms is to maximize profits. A firm can maximize the profits by selling a…

Q: What would be an example of an implicit cost of production?  A. the cost of a delivery truck in a…

A: Total economic cost is the sum of implicit cost and explicit cost.

Q: A firm produces one good and has average cost equal to 115, average variable cost equal to 75, and…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Labor Input TPL APL MPL 1 7 2 18 30 4 44 5 62 78 7 88 94 9 94 10 92 1. Compute the MPL & APL…

A: (1) Labor input TPL APL MPL 0 0 ---- ---- 1 7 7 7 2 18 9 11 3 30 10 12 4 44 11 14 5…

Q: 22. Suppose an artist put on 5 concerts in Korea last month for an average total cost of $1 million…

A: Average Total Cost(ATC) is the total cost divided the total quantity. ATC=total costtotal quantity…

Q: Question 3   A motor vehicle assembly plant requires the use of both capital and labour.The Tesla…

A: Since according to our guidelines we are allowed to answer one question at a time if you want the…

Q: 1. A company operates plants in both the United States (where capital is relativelycheap and labor…

A: Answer b

Q: Average fixed cost, average total cost a -Why does average fixed cost continuously fall as output…

A: Average fixed cost- It is the cost that is per unit of Total fixed cost. AFC=TFCQ Average total…

Q: - All inputs can be varied in O Short run O Long run Both neriods

A: To find : How can be inputs varied.

Q: hat is tah relationship between average production and marginal prod

A: Total product refers to the output amount that can be produced by a given amount of variable factor,…

Q: Q)Distinguish between explicit and implicit costs, giving examples of each. (a) What are the…

A: In common usage, cost refers to the monetary value of goods and services purchased by producers and…

Q: How did you get the productivity of the new unit. What formula is used?

A: Productivity represents the ability of a factor of production to produce goods and services which…

Q: Stacy's current production level, an extra bunch of scarves adds 20 extra hats. Each bunch of…

A: Marginal expense alludes to the expansion or decrease in the expense of producing another unit or…

Q: Describe the unit-of-production method?

A: Answer -  Unit of Production method - It is method which help to calculate depreciation of value of…

Q: A graph represented by a straight line parallel to the output of the X-AXIS is an image of which…

A: The cost of production is classified on the basis of the factors of production. The total cost is…

Q: a. Why is the gap or difference between average total cost and average variable cost larger at…

A: Cost is a metric of the possibilities foregone when one product or task is chosen over another.

Q: If production increases, what happens to average total cost (ATC), does it increase only, decrease…

A:

Q: Define the terms “Short Run” and “Long Run”.  b. Would the short run be longer for Tonino’s Pizza…

A: a. Short run is defined as period during which at least one of the factors of production is fixed or…

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.