Is it true that if a firm’s technology exhibits the decreasing return to scale, then average production cost is increasing? (If yes, show the proof. If not, show a counter example)

Q: 5. Problems and Applications Q10 Consider the following table of long-run total costs for three…

A: Average total cost is alluded to as the entirety of all production costs separated by the total…

Q: A perfect competitive firm has a long-run cost function, C(q) = 8q2 + 200. In the long run, this…

A: Given the information: Total cost = 8q2+200MC = dTCdqMC = 16q

Q: Last year, Bing bought 30 widgets when his income was $50,000. This year, his income is $55,000, and…

A: Normal good is positively related to the income.

Q: Suppose the economy begins with output equal to its natural level. Then, there is a reduction in…

A: The equilibrium level of income in the economy is determined by the intersection of the aggregate…

Q: Evaluate ‘utilitarianism’ as a moral doctrine that underpins ethical values

A: Introduction Utilitarianism has given by Jeremy Bentham and J. S. Mill. The term Utilitarianism has…

Q: Dillon sells football. When output = 200, average fixed costs (AFC) = $3; and total variable costs…

A: Total cost is a sum of fixed cost and variable cost.

Q: U = x₁0.5x2 ; p1 = 10; p2 = 5; and m = 162. The demand for x₁ is: x₁ = /p1. Round your answer to 2…

A:

Q: A manufacturer's total cost equation per day is given by the equation TC = 440 +4q+,0001Q². If each…

A: The functional connection that exists between costs and output is referred to as the cost function.

Q: 1. The following prices and quantities produced were recorded in computer land during the years…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: The international Bank for Reconstruction and Development known as                           came…

A: There was a huge economic as well as human loss during World War II. Almost all the nations which…

Q: Q8. Discuss the differences between short run VS long run Firm Supply in competitive market…

A:

Q: The following prices and quantities produced were recorded in computer land during the years shown…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: 12. How did the banking panics during the Great Depression affect the money supply?+

A: The great depression was a very severe economic depression in U.S. due to crash of stock market. It…

Q: Use Figure 1 above to determine the effect of the following changes on the exchange rate. For each…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: 1.- The table below provides information on Hungary for 2003 and 2014. Define trade creation and…

A: Trade diversion happens when lower-cost imports from beyond the business units are replaced by…

Q: 6. Consider the following Cobb - Douglas utility function: U = XayBzY *Note, it should be assumed…

A: The Cobb–Douglas function is often used as a utility function. Utility is a function of the…

Q: Assume in the market with two consumers, Chloe and Oliver. Chloe's utility function is U(x, y) = 2x…

A: When there are no more adjustments that can be made to the economy that can make one person better…

Q: The demand and supply for bicycles is given by: Q = 1000 - 10P and supply is: Q³ = 2P - 20 6.…

A: Given; Supply function; Qs=2P-20 Demand function; Qd=1000-10P Sales tax= 20%

Q: The central bank of the fictitious country "Alpha" raises bank reserves by $200. What effect will…

A: Bank Reserve is the ratio which is decided by the central bank for controlling the money supply in…

Q: Suppose we estimate the following econometric model with OLS:   What does OLS do?     OLS…

A: Ans. The ordinary least square method (OLS) is the method used to measure the parameter of the…

Q: Which of the following would be examples of green goods? Select all that apply. zero-emission…

A: Green goods and products include occupations for organizations that produce merchandise and offer…

Q: A market for cherries is initially in equilibrium. Determine what happens to the equilibrium…

A: Answer: If blueberries and cherries are substitutes and the price of blueberries rises then…

Q: If at a price of $24, Octavia sells 36 home-grown orchids and at $30 she sells 24 home-grown…

A: Answer: Given, Price Quantity demanded $24 (P1) 36  (Q1) $30  (P2) 24  (Q2) The following…

Q: If Australia has a current account deficit, then: Select one: O a. both B and C apply. O b. we must…

A: A current account is an account that records all of the transactions that occur in relation to the…

Q: Illustrate the differences

A: The field of economics is distributed into microeconomics, i.e., the analysis of individual markets,…

Q: A musical Disc is being produced by a music recording studio, and the company estimates that it will…

A: Answer: Given, Fixed cost (FC)=$100,000Variable cost per unit (VC)=$6.75 per unitPrice of disc…

Q: Production technology is q = K1/2L. What is the short-run cost function C if K =4, w = 6 and r = 2…

A: We have production function  q= k1/2L  and K=4

Q: 7. At the existing price, the quantity demanded exceeds the quantity supplied; also called a…

A: Supply is a key economic idea that depicts the aggregate sum of a particular good or service that is…

Q: Evaluate which protectionist method is best for an economy.

A: A nation's trade protectionist policy is a calculated and deliberate effort to limit imports while…

Q: If elasticity of demand is greater than elasticity of supply, more tax incidence will be on who? A.…

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: Pertaining to the information given above, Ghana's parliament is debating how to undertake ISI. The…

A: A quota is a trade restriction put in place by the government that restricts how many or how much…

Q: need explanation on HOW for each HOW The price of bananas in Australia will rise. HOW The quantity…

A: International trade is the actual exchange of money, goods, and services across national boundaries…

Q: When performing a benefit cost analysis of different options to provide clean water to a community,…

A: Benefit/Cost (B/C) Analysis is characterized as a deliberate interaction for working out and looking…

Q: Which of the following is a benefit of global trade? a) Increased chances of trade surplus b) Better…

A: The import and export of products and services that take place beyond international borders is the…

Q: For each of the regions, use the midpoint method to identify whether the supply of this good is…

A: The measure that depicts the change in quantity being demanded of a good with respect to price level…

Q: Suppose that the world price of bananas is 18 U.S. cents a pound and that when Australia does not…

A: Introduction International trade is indeed the transfer of capital, commodities, and services…

Q: How much overhead was applied during the year? I A. $231,000 B. $150,000 C. $166,000

A: The labor marketplace is a type of marketplace structure wherein the trade of labor services for…

Q: A company is considering buying a CNC machine. In today's dollars, it is estimated that the…

A: First Increase the maintenance cost on the basis of the inflation factor 4%. Then find their present…

Q: 9. Refer to the diagrams posted with the problem set instructions. If the price ceiling is binding.…

A: Answer: Price ceiling: price ceiling refers to the maximum price that the sellers can charge. If the…

Q: Suppose a firm is producing 100 units of output, incurring a total cost of $10,000 and total…

A: A producer's monetary and non-monetary expenditures on factor and non-factor inputs are referred to…

Q: country that faces a huge crisis of malnutrition. A recent study has alerted wealthy nations to the…

A: *Answer:  * Option d.  Liberia is facing a balance of payments deficit is the correct answer.

Q: Its variable cost per unit grew with the quantity generated in a break-even study. Every node in a…

A: The break-even point of a business can be stated in terms of dollars of income , or items produced…

Q: Consider the following table of long-run total costs for three different firms: Quantity 1 2 3 4 6 7…

A: We have given the cost schedule  Q TC (firm A) TC (Firm B) TC (Firm C) 1 25 70 15 2 30 75 40…

Q: Canada the US and Mexico are all on the same continent the AMERICAS and the economies are very tied…

A: Here, it is given that Canada, US and Mexico are very tired together for their economic, social and…

Q: 2

A: Olivia is consuming in two periods, in period she is borrower, that means C1 is more than the M1.

Q: Why is economic growth a goal of most if not all nations of the world? Why is investment in…

A: Economic growth is primarily used to explain an increase in the total production of output or…

Q: Tess and Lex earn $40,000 per year and all earnings are spent on consumption (c).  Tess and Lex both…

A: The expected value (EV) of consumption can be calculated by using the following formula. The…

Q: Individual retirement accounts (IRAS) were established by the U.S. government to encourage saving.…

A: A Savings account refers to the facility that banks give its customers where the customers deposit…

Q: 1. What is meant by wage- price flexibility mechanism? How was it shown by the classical economists…

A: Classical economists do not believe in the government intervention in the economic activities.…

Q: Question The Malaysian Ringgit experienced a significant depreciation against the US Dollar and the…

A: When the price of one currency in terms of the other currency falls, it is known as the depreciation…