Diminishing Marginal Returns” is achieved when?

Q: What is marginal product, and what does it mean if it is diminishing?

A: The marginal product is determined by the change in total output as one additional input is used in…

Q: Explain in words why the Law of Diminishing Marginal Returns implies that there are increasing…

A: Law of diminishing marginal returns states that, as the production is continuous using factor of…

Q: 2). Discuss the relationship between the law of eventually diminishing marginal returns and the…

A: The law of diminishing marginal returns states that adding an additional factor of production…

Q: (a) Explain the law of diminishing marginal returns in the Theory of Production. (b) Does this law…

A: The law of ‘diminishing marginal returns’ states that with the increase(↑) of a single production…

Q: Among the three stages of production, until what point should one produce considering the law of…

A: The law of diminishing marginal product explains the three stages of production that is applicable…

Q: Hisham owns a factory producing furniture, He is planning to expand production to attain the long…

A: After determining the least expensive manufacturing technique, a company can think about the best…

Q: Is it possible to avoid Diminishing Marginal Return? Why? Explain comprehensively.

A: The diminishing marginal returns would result in the associated with the utility and the production…

Q: What are diminishing marginal returns? Using a diagram you have learned show and explain diminishing…

A: A production function shows the unique relationship between inputs and outputs. The change in output…

Q: A commercial fisherman notices the following relationship between hours spent fishing and the…

A: Given table:

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: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A: Marginal cost is the cost which occurs due to the production of one more unit of output is called…

Q: Define and explain the difference between economics of scale and economies of scope. Include an…

A: Definition: Economies of scale are cost-saving strategies in a production process by increasing the…

Q: What is marginal cost? Fixed cost?

A: Costs refer to the expenditures which are incurred by the firms in order to purchase various factors…

Q: What explains the shape of the average and marginal cost curves?  Is it linked to any production…

A: Marginal cost is the measurement of change in total cost with the increment of quantity produced by…

Q: Why Marginal cost curve is U-shaped?

A: The marginal cost curve illustrates the relationship between the marginal cost and the number of…

Q: Discuss the Law of Diminishing Returns.

A: The Law of Diminishing Returns is also called the law of the variable proportion

Q: Is it possible to avoid Diminishing Marginal Return? Why? Explain

A: Law of diminishing returns postulates that as more units of a variable input are used with a fixed…

Q: The optimal level of production for any company is the level of production that either maximizes…

A: All firms will make the production where its marginal revenue (MR) equals to marginal cost (MC), to…

Q: Marginal cost is ?

A: Microeconomics deals with the several components of a single firm or an individual. The subject’s…

Q: c) Why Marginal cost curve is U-shaped?

A: Marginal cost is additional cost or increase in total cost as a result of one unit increase or in…

Q: Do AC and AVC intersects each other?

A: Average cost measures the cost incurred by a firm per unit of output produced. Average variable cost…

Q: A commercial fisherman notices the following relationship between hours spent fishing and the…

A: The marginal product or marginal physical productivity of an input (factor of production) in…

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

A: The average fixed cost (AFC) decrease only if the production increases.

Q: If the marginal cost equals average cost, we are at the _____ point of the ____ curve.

A: Marginal cost is that cost which is incurred because of producing one additional unit of the output,…

Q: What’s law of diminishing returns

A: The law of diminishing returns would operate since the output would not expand at rising rates.

Q: Refer to Figure 2-4. Inefficient production is represented by which point(s)?

A: Points lying on the production possibility curve are the combinations of toasters and toothbrushes…

Q: What is law of diminishing marginal returns

A: The law of diminishing returns is significant because it informs economists' beliefs that a firm's…

Q: Good afternoon, please assist me with the following economics graphs.    1. Explain, with the aid…

A: Answer to the question is as follows :

Q: We know there is a link between productivity and costs. For example, recall the link between the…

A: In an economist's terms, when we talk about productivity, then we are talking about the marginal…

Q: Why might marginal product be increasing at lower levels of output and decreasing at higher levels…

A: Marginal product (MP) is the extra output produced by one additional unit of input or raw material…

Q: Explain what is meant by and what causes "Diminishing Marginal Product". Why is it only relevant in…

A: Marginal product refers to the increase in outpit resulting from employing additional units of…

Q: What is the law of diminishing marginal product, In which stages of production it manifest and What…

A: According to the rule of decreasing marginal returns, any manufacturing process will reach a point…

Q: a) What is marginal cost? b) What is average variable cost? c) How much output is being produced?

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: te a topic on economies of scale, economies of scope, or learning curves.

A: Economy scale refers to changes within prices per unit because the range of units is multiplied. A…

Q: What economic principle explains why average variable costs and marginal costs initialy decrease as…

A: A U-shaped curve represents the average variable cost function. Initially, as output increases, the…

Q: Explain why the marginal cost of production must increased if the marginal product of the marginal…

A: The marginal cost of production refers to the change in total cost due to produce an extra unit of…

Q: c. What is the average and marginal cost of gumball production (again, measure output in thousands…

A: Total cost is the sum of total fixed cost and total variable cost. The average cost is the total…

Q: Explain the idea behind diminishing marginal returns and give a real-life example.

A: Diminishing Marginal Returns happen while expanding one unit of creation, while holding different…