Explain the Law of Returns to Scale with the help of an example.

Q: What are economies of scale? Give an example. What are the diseconomies of scale? Give an example.

A: Production cost includes all the direct and indirect costs. With the increase in the firms, the…

Q: The long-run is a period of time long enough so that all inputs, including facility and equipment,…

A: PLEASE FIND THE ANSWER BELOW.

Q: An isoquant slopes

A: To find:  An isoquant slope is:

Q: If marginal physical product is continually declining, what does marginal cost look like?

A: The marginal physical product is the additional output which can be produced by the firm by…

Q: Write about the production function with two and more than two variables

A: A function is basically a mathematical relationship between the dependent and the independent…

Q: Why is the point of isoquant tangent to the isocost called the optimal combination?

A: An isoquant is a locus of points which shows different combinations of two inputs which can be used…

Q: Explain economies and diseconomies of scale. Give an example of each.

A: Costs are the expenses that firms incur during the production processes. The firm’s costs depend…

Q: If a firm quadruples (4x) in size and output increases sixfold (6x), what is the returns to scale?

A: Here input increase 4× and output increase 6×

Q: Do the following functions exhibit increasing, constant, or decreasing returns to scale? Show your…

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

Q: Draw the isoquant map for the technology q = √LK. Be precise.

A: Isoquant shows all the different combinations of the two inputs that can used in order to produce…

Q: When analyzing isoquants, if the marginal product of all inputs double, how would that change the…

A: Isoquants are the curve that depicts a various mix of labor (l) and capital (k) that can be used to…

Q: Economies of Scale

A: All the firms total cost meeps on increasing.

Q: Which long-run average total cost (LRTC) graph exhibits diseconomies of scale? LRATC LRATC

A: "Correct option is the first graph which is upward sloping."

Q: Explain the difference between economies of scale and economies of scope with an example.

A: Answer to the question is as follows:

Q: Explain the difference between economies of scale and economies of scope with an example.  Please…

A: Answer: Economies of scale: When a firm's average cost of production decreases due to an increase in…

Q: How could you explain the difference between economies of scope and economies of scale?

A: Economies of scope and scale are concepts that relate to the cost of production of firms.  Economies…

Q: If a firm has economies of scale, it must have increasing returns to scale. True or false?

A: Economies of scale and returns to scale are two sides of the same coin.

Q: Suppose a firm produces cars and the minimum efficient scale is 2,000,000 cars. The inputs are labor…

A: LRAC refers to long run average cost and SRAC refers to short run average cost. Long run average…

Q: A firm has economies of scale, it must have increasing returns to scale. Explain?

A: Economies of scale are cost advantages experienced by firms when production becomes efficient.…

Q: What are two examples of variable costs?

A: Variable costs depends on the level of output being produced by the firm.

Q: What factors give rise to increasing returns to scale and decreasing returns to scale?

A: Increasing returns to scale means when all inputs are increased, the output is increased by more…

Q: What are economies of scale? Give an example. What are the diseconomies of scale? Give an example

A: Economics is a branch of social science that deals with the production, consumption, and…

Q: find 10 problems related to variable cost, total cost, and marginal cost  and Solve problems

A: In this question a hypothesis numerical questions is needed to solve which contains MC , VC TV etc .

Q: Graph the change on the production function when a firm decreases its labour

A: Production function shows the relationship between output and number of labor employed. Change in…

Q: Isoquant curves Gym requires exactly 3 bottles of water per athlete to maximise performance…

A: Introduction Isoquant curve : Isoquant curve represents all the inputs combinations of two…

Q: Which average cost curves are U-shaped?

A:

Q: Show the relationship between production function and cost function

A: Production function refers to the quantities of a physical product to the quantity of factors of…

Q: Using the table below indicate which firm has (i) diseconomies of scale and (ii) constant returns…

A: Diseconomies of scale occurs when a firm's Average cost increases with increase in the output.…

Q: What is the distinction between the laws and of returns and the returns to scale?

A:

Q: What are some reasons we might see increasing returns to scale?

A: When the output grows by a higher percentage than the growth in inputs during the manufacturing…

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: If the marginal product equals the average product, we are at the ____. point of the ____ curve.

A: The output produced by the firm with the given resources in a particular time period is known as the…

Q: Explain the concept of economies of scale. Identify two reasons why economies of scale exist. 1-2…

A: Explain the concept of economies of scale.   Economies of scale :- It means mass production of…

Q: What is the difference between a fixed input and a variable input?

A: Inputs are the resources that are used in the production of output. There are generally four inputs…

Q: Explain two types of economics of scale that a person might gain by moving from a small food stall…

A: Economics of scale is gained when the production scale decreases long term AC. This means it is…

Q: Explain the concept of economies and diseconomies of scale and briefly state their effects on the…

A: Economies of scale and diseconomies of scale occur during the production of goods and services.…