The law of diminishing returns is a long-run concept. a. True b. False

Q: rease in the short run ease in the short run

A: Cash balance refers to the part of income that people want to hold as cash in hand.

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Q: Explain the law of diminishing returns.asap

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Q: The law of diminishing returns explains diseconomies of scale O True False

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

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A: # The term marginal means additional And marginal profit means the extra profit earned with the sale…

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Q: MC ATC AVC AFC 40 70 80 90 Quantity Costs

A: Diminishing returns begin where MC curve starts rising or MP curve starts to fall. Most productive…

Q: Discuss the impact of long run on cost of doing business.

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: What happens to fixed cost as the quantity produced increases?

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Q: What is meant by normal profit?

A: The total revenue earned by a firm operating in a market is the sum of payments received from the…

Q: What is the LAW OF DIMINISHING RETURNS, and why is this law considered a short-run phenomenon?

A: The Law of Diminishing Return: It occurs when the employment of input with the other fixed input of…

Q: Perfect Competition I

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A: a. January 31, 2020: Tim Horton will open 60 more stores in Asian countries   The news analysis is…

Q: fall in the long-run cost curve

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Q: Why is the short run marginal cost curve U- Shaped?

A:

Q: Explain the law of diminishing returns and illustrate with a relevant example.

A: Law of diminishing return says that as we go in using more and more of a single good the return that…

Q: tate the law if Diminishing Returns. Give example.

A: Law of diminishing returns also known as law of variable proportion

Q: In order to maximize the profit, what decision do you think is the most important one?

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: In perfect competition, if the marginal cost increases which way does the curve shift? what are some…

A: Perfect competition is one of the market structures out of 4 types of market structures in an…

Q: Mike Wazovsky runs a business that produces marmalade in small jars. He is proud of his business…

A: ATC (Average Total Cost)  Average total cost refers to the cost of production per unit of output.…

Q: (d) If the minimum point of the short run ATC curve for all firms (existing and potential) is also…

A: * SOLUTION :-  *D)

Q: Explain the law of diminishing returns. Asap

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Q: A firms total profit equals?

A: The amount of money a company makes by selling its goods or services at a specific price is revenue.…

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Q: Explain the production in short run?

A: Microeconomics studies the economic behavior of individual units such as a consumer, a producer, a…

Q: Explain the law of diminishing returns.

A: In economics, various laws and theory are used to explains specific market activity. These laws arr…

Q: Staples closed 48 of its North American stores in 2016 and will close another 70 in 2017. The firm…

A: Given information Staple already closed 48 units in NA in 2016 and planning to close 70 in 2017.…

Q: The difference between economic profit and accounting profit is?   Average cost Direct costs…

A: Cost is the expenditure incurred by firms on the production of goods and services. The cost can be…

Q: Read the following news items and explain where a short-run decision and a long-run decision are…

A: 1. June 2, 2020: Tim Horton replaces baristas with vending machines. This news analysis is the…

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…