a) What criteria determine whether a factor is considered fixed or variable? Faced with constantly changing conditions, why would a firm ever keep any factors fixed?

Q: Under negative returns to a factor, MP remains positive True/False

A: # The negative returns to a factor states that if the firm keeps on engaging more units of the labor…

Q: WHAT DO YOU MEAN BY THE INDIVISIBILTY OF THE FIXED FACTOR IN ECONOMICS  EXPLAIN IT thanku

A: In simple words we can say that the Indivisibility of the general fixed factor means that a small or…

Q: What is the difference between interest and profit? Who earns interest, in return for what…

A: The disparity between a company's income from its outputs and the opportunity costs of its inputs…

Q: The Paunch Burger restaurant chain currently produces 250,000 units of output by using 2,400 units…

A: Answer -    MRTS (Marginal rate of technical substitution) :- The rate by which one factor need  to…

Q: EXPLAIN the reason of increasing returns to a factor

A: # The increasing returns to a factor is the first phase of law of variable proportion. It is…

Q: Why it is important for managers to be able to identify which costs are fixed, which are variable,…

A: Fixed costs are the costs that are fixed and constant.These costs do not change in the short amount…

Q: Barney decides to quit his job as a corporate accountant, which pays $12,000 a month, and goes into…

A: Costs are the expenses that firms incur in the production of goods and services. A firm can incur…

Q: 10- If labor is on the vertical axis and capital is on the horizontal axis, the slope of an isocost…

A: The line that depicts the various combinations of the inputs that are used which tend to cost the…

Q: What is the difference between the factor demand derived from cost minimization and that obtained…

A: Cost minimization simply means that businesses maximize their productivity or use the least…

Q: A firm's production function is given by the 4L0.5K0.5. Which of the following equation Q = is…

A: In a market, a firm's production function can be used to analyze the contribution of input variables…

Q: What is the concept map of the Law of Diminishing Returns to a Factor?

A: The law of diminishing returns explains that if one input in the production of a commodity is…

Q: If a firm was interested in determining whether costs were increasing rate or increasing at a…

A: Answer to the question is as follows :

Q: Dave's Donuts is a local donut shop. Dave is fortunate that his business is experiencing sales…

A: One of the key motives of the firms operating in a market is to maximize profits. Profit is the…

Q: When a firm hired it tenth worker, its factory output increase by four units per month. Would you…

A: There are two forms of inputs in the short-run: fixed and variable inputs. The fixed inputs are the…

Q: Given production function -- Y = (4K)^1/3 (L)^2/3 a. Solve for the graident and Hessian matrix of…

A: (A) Gradient Matrix: dfdKdfdL = 43(4K)-2/3L2/3(4K)1/323L-1/3       Hessian matrix of f(K, L):…

Q: Q5. The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: According to the ‘Law of variable proportion’ there are three different stages of production:…

Q: A company produces children's toys. The manager noticed the connection between the number of…

A: Since we only answer up to 3 sub-parts, we will answer the first 3. Please resubmit the question and…

Q: Does additional input of labor entail a steady increase in the output of a firm? Why or Why not?

A: "Factors of production are resources that are used to produce goods or services." There are various…

Q: The term defined by more units of the variable factor of production are added to the fixed…

A: In a production process, there are two types of factors of production, namely fixed and variable.…

Q: In the short run, if the price of the fixed factor is increased, what will happen to profits?

A: Fixed Factor:- These are those factor which do not change with change in output, in short-run. In…

Q: If the marginal product of capital decreases, what happens to the IS curve? (a) It shifts outward.…

A: The extra output, return, or profit provided per unit by edges from production inputs is spoken as…

Q: THEMATICAL ECONOMICS (IKT216) IZ EXAM -APRIL 27, 2022-16:00 RATION: 65 MINUTES ERE ARE 10 QUESTIONS.…

A:

Q: Complete the table directly below by calculating MP and AP. Inputs of L  TP MP AP 0  0 1 15 2 34 3…

A: MP is nothing but the additional product which arises when one unit of extra labor is employed. MP =…

Q: Why are the MC and MP inversely related to one another?  While it is because as one increases, the…

A: Introduction Marginal cost is the change in total cost caused by producing one more unit of output.…

Q: Suppose that the output Q (in units) of a certain company is Q = 75K¹/32/3, where K is the capital…

A: Given information: Q=75K13L23

Q: The law of diminishing returns states that if increasing quantities of a variable factor are applied…

A: The law of diminishing returns is also known as the law of non proportional return and a law of…

Q: what is the meaning of returns in "returns to a factor"

A: # We know well in long run, even the fixed factor of production also becomes variable. And thus…

Q: With the use of an example, briefly explain the main difference between the ex-ante and the ex-post…

A: The advantages of an item or commodity that are forfeited because an alternative good was chosen…

Q: inction: Consider the 'Cobb-Douglas' production function: f(k;, n4) = ki'n}-a where a is an…

A: The marginal products are calculated by differentiating total output with respect to the inputs viz.…

Q: What do economists mean by "deminishing returns" to an input? What causes diminishing returns? Where…

A: Diminishing Returns It means when we employ one additional unit of variable factor then the marginal…

Q: 16. As more and more of the factor of production is used The total product curve rises rapidly at…

A: The output generated by all employed workers is referred to as total product.

Q: Describe the need to be flexible in their approach to work, responding positively to changes or…

A: Workplace flexibility is a vital method that allows businesses to recruit and retain skilled…

Q: uming a Cobb-Douglas production function with constant returns to scale, then, as L rises with K and…

A: Cobb-Douglas production function: It is one of the forms of production function which is widely used…

Q: What happens to marginal revenue productivity of a factor when there is an increase in unit of…

A: Marginal revenue productivity of factor refers to the addition of total revenue from the additional…

Q: The wage rate is £10 and the capital rate is £20. If a firm was spending £c, show what combinations…

A: Wage rate and  capital rate are £10 & £20 respectively are the cost of firm which is equal to…