The most efficient scale of production is where at which point?

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: At what level of production does the marginal cost have the least value? What is the marginal cost…

A: The marginal cost curve is the U-shaped curve.

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

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: A few sentences for the response please. How does the impact of fixed costs change production…

A: Fixed costs are amount of dollars expended on fixed factors of production such as land, building,…

Q: The most efficient scale of production of a firm is where

A: To find : Which is most effective case of efficient scale of production.

Q: Explain Homogeneous products and give more examples

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

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

A: There are basically two types of costs- fixed costs and variable costs. The variable cost refers to…

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: 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: Diminishing Marginal Returns” is achieved when?

A: The law of diminishing marginal returns states that adding an extra factor of production ends up in…

Q: Classify the Costs for Manufacturing Environments?

A: The classification cost for manufacturing environments is categorized with respect to nature is…

Q: Show me how to arrive at Average Variable Cost?

A: Total variable cost varies with the level of production.

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: Why is having a business objective of increased economies of scale always desirable?

A: Economies of Scale in the Business World When it comes to economies of scale, the size of the…

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

A: In the market, when a firm makes production activities, there are various costs incurred during this…

Q: efficient scale is houses.

A: Efficient scale is the scale at which firm can produce its output at minimum average cost.…

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

A: An entrepreneur should always remember that its revenue should be higher than its cost in order to…

Q: What level of output does a firm produce?

A: The quantity of products and services produced in a particular time period is referred to as output…

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: Using an example , explain the production proces

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

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: What is economies of scale? What are differences between internal and external economies of scale?

A: Economies of Scale: When a company expands its production then usually the cost per unit falls.…

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: 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 is a cross-functional business process? Give one example of a cross-functional business…

A: Meaning of Cross-Functional Business Process: The term cross-functional business process refers to…

Q: What stage of production is the increase in output that results from increase in a firm's outputs by…

A: When the increase in output that results from increase in a firm's output by some proportion it is…

Q: Mention some of the important advantages and disadvantages of the small scale production?

A:

Q: What is the economies of scale of General Motors?

A: The advantages of cost which is being obtained by the enterprises being solely due to their scale of…

Q: Which stage of short run production is efficient? Why?

A: In microeconomics, we have two time periods namely short run and long run. Short run is the time…

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: A cost that changes with the level of production is called a(n)____cost a.variable b.average total…

A: Ans. The cost is the expenditures that are incurred during the production of the goods and services.…

Q: Businesses operate in the short run, but do they ever operate in the long run?  Explain

A: In the field of economics, it is assumed that firms work towards achieving their objective of…

Q: Discuss about the concept of marginal cost using your own example?

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

Q: Describe the unit-of-production method?

A: Answer -  Unit of Production method - It is method which help to calculate depreciation of value of…

Q: What yardstick can a firm use to determine where it should produce?

A: To determine the level at which the firm should produce.

Q: what is the different between average production and marginal production?

A: The average production is the total production divided by the variable input and it is production…

Q: What are the advantages and disadvantages of Cost benefits?

A: Cost-benefit analysis refers to the system under which the business can try to estimate the profits…