Discuss the issue of “achievement of the economy of scale” and how it could help in company’s sustainable profitability and at the same time discuss the resultant danger of it to the company’s stability.

Q: ake the product, should you go ahead and d

A: Any decision regarding the production of goods by a firm depends upon the maximum profit it can get…

Q: Name the following Refers to the situation in which the increase in the scale of the production give…

A: According to the given question Production in economic means that the process or the step which the…

Q: True/False? Discuss. If there weren’t diminishing marginal returns all the rice in the world could…

A: The law/fundamentals of Diminishing-Marginal-Returns (DMU) states that while working with fixed…

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A: Business: The organization or an individual engaged in commercial activities with the aim of earning…

Q: Explain Homogeneous products and give more examples

A: Homogenous product: Homogenous products or homogenous goods are those goods that are similar in…

Q: Which of the following profits represent economic profit? Choose all that apply.    a.  Your…

A: Economic Profit is the difference between total revenue and the sum of total explicit cost and…

Q: What must an entrepreneur do to earn a profit? How do theactions of firms earning profits inuence…

A: Protecting one's hard work through patents and copyright acquisition is one of the most significant…

Q: In SMC Company, staff are told to follow diligently the company code of ethics and abide by company…

A: A code of ethics is one of the essential elements for a company's environment as it clearly lays out…

Q: (d) Evaluate the following statement. "I used my own money, my own land and my own equipment to…

A: The opportunity cost of a particular activity option in microeconomic theory is the loss of value or…

Q: Looking at family business, integrate the knowledge you learn to analyze TWO challenges that the…

A: We are supposed to do the 1 question at a time please send the other question for answers.…

Q: It is clear that businesses operate in the short run, but do they ever operate in the long run?…

A: When a business is established the main focus of the owner is to conquer the short-run functions and…

Q: Azril is going to buy 5 new color photostat machine which is a new high technology model from Japan…

A: Given information Azril is buying 5 photostat machine. The new machines are related to high…

Q: What is a cost that changes with the change in volume of activity of an organization

A: The cost that changes with the change in volume of activity of an organization or in other words,…

Q: Applying the concept of marginal costs, how would you, as a business owner, decide how much to…

A: Profit maximization refers to the production and distribution of goods in such a way that maximizes…

Q: Top 4 largest firms in the industry produces 750,000 unit while the total production of the Industry…

A: Given that, total production of 4 largest firms will be 750,000 unit and the total production of the…

Q: Subject: Business Economics Q7) Complete the table and show your calculations.…

A: Q7. Formulae for calculation are as follows : TC = TVC + TFC ATC = TC/Q AVC = TVC/Q AFC = TFC/Q MC =…

Q: What must an entrepreneur do to earn a profit? How do the actions of firms earning profits influence…

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: “In the short run, a company has to operate as efficient as possible to accomplish the profit…

A: Please repost your question, as we are allowed to answer only 2 questions. a In achieving the short…

Q: Jalal runs a restaurant in his area. Staff at his restaurant have been working for long hours, they…

A: As from the given statement it is shown that Staff at Jalal's restaurant have been working for long…

Q: The teohnically efficient combiaation of two products a business cän produce in the current period…

A: Economics is a social science that describes human behavior regarding their unlimited wants in terms…

Q: What is the difference between accounting profit and economic profit? Select one: a. Accounting…

A: Firms earn revenue with the help of the sale of the products that it produces. On the other hand, it…

Q: what instances will the economists/managers use short run and long run production. Give actual…

A: In financial aspects, short run alludes to a period during which somewhere around one of the…

Q: DISCUSS Smith's pin factory example. describe the dramatic effects and the method by which these are…

A: A worker who specializes performs only one task or a limited set of tasks. It refers to separate…

Q: Microeconomics divides costs in to “short-run costs” and “long-run costs”. Can “long-run” differ…

A: The short run is defined as the time frame during which wages and prices of other production inputs…

Q: Question 2   Your uncle is thinking about opening a hardware store. He estimates that it would…

A: Given: The cost of rent and buying stock = Rs.5,000,000 per year Salary of current job = Rs500,000…

Q: Short Run Production Relationships         List and explain the 3 Short Run Production…

A: Production function is neoclassical production function. It is upward sloping, concave and marginal…

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: Evaluate the view that having a business objective of increased economies of scale is always…

A: ii) Economies of scale refer to when there is an increase in the production of goods and services…

Q: Explain how a company could choose to get bigger, yet lower their average costs?

A: Average cost: It is average cost incurred for producing a good.

Q: What must an entrepreneur do to earn a profit? How do theactions of firms earning profits influence…

A: Profits are important as they show how productive a company's activities are. Furthermore, profits…

Q: If production increases, what happens to average variable cost (AVC), does it increase only,…

A:

Q: a) Explain why Binful, Bernard, Freeman, Emelia and Anortiah as managers of Ohenewaa & Ama Group of…

A: a. An economically efficient method of production is the method that produces a given level of…

Q: 1.) If firms are rational, why is it they could underproduce or overproduce? 2.) What is the demand…

A: (Since you have posted a question with multiple sub parts, we will solve the first three sub parts…

Q: a) ________________________ a term referring to the fact that for many goods, as the level of…

A: Average cost: The average cost or the average total cost is the cost incurred per unit of a…

Q: Smiling Cow Dairy can sell all the milk it wants for$4 a gallon, and it can rent all the robots it…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: 4. Which of the following industries do you think are likely to exhibit large economies of scale?…

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

Q: a.Calculate the total and the average productivity from the following information. b.Plot the total…

A: A production function shows the relationship between inputs and outputs. Average product of labor is…

Q: 2020, Mr. Adam had two options: either he could start Business A or he could start Business B. What…

A: Implicit Cost or Opportunity cost, is the cost incurred by an individual, when they choose one…

Q: a. Discuss the following statements: i. The second stage of production is the optimal one for a firm…

A: There are three stages of production. 1. stage -1 : Increasing return  2. Diminishing return 3.…

Q: What are different types of costs involved in production of goods and services? Analyze the…

A: Fixed expenses, variable costs, and the total cost of production make up the cost of production. The…

Q: Galaxy manufactures two dolls: Mary and Joan. It has 400 hours of production time per week and…

A: The term ‘constraint’ means ‘limitation’ or ‘setback’. While producing a commodity(G), the…

Q: What is meant by technological advance, as broadly defined? How does technological advance enter…

A: The discovery of new and improved methods of manufacturing products refers to technical advances.…

Q: What is the opportunity cost of Wang's $100,000 inheritance being used to start his business?…

A: The opportunity cost of an action is measured in terms of the value of the second-best alternative…