The slope of an average cost curve exhibiting diseconomies of scale is -- Infinite O Zero O Negative O Positive

Q: If a higher level of production allows workers to specialize in particular tasks, a firm will likely…

A: The production refers to the process of combining the raw material with the factors of production,…

Q: Refer to the graph shown. This set of cost curves Is: MC ATC B AVC Output Multiple Cholce O wrong…

A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…

Q: What does the Long Run Average Cost (LRAC) curve imply when it is horizontal? There are diseconomies…

A: Answer - Need to find- What does the long run Average cost curve imply when it is horizontal…

Q: If a store owner increases the size of his store producing more quantities of his product, and…

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Q: Cost, Revenue & Profit For these problems, xx will represent the number of items and yy will…

A: Slope intercept form: Y=AX + B

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

A: A production function illustrates the relationship between the output produced in a production…

Q: Consider the long-run average cost curve to the right. Using the point drawing tool, plot a point…

A: Answer: Introduction: Economies of scale: economies of scale occur when the average cost of…

Q: Marc Nerlove conducted a classic study on economies of scale in the electric utility industry. I…

A: Economies of scale happen when the average total cost  decreases when output increases Diseconomies…

Q: ATC B. Output 15. In the above long-run average total cost curve the: A) movement from A to B…

A: Long run average cost curve represents least average cost to produce any given level of output. In…

Q: A firm has a production function QL,K=100L0.4K0.6 with a cost function CL,K=5L+30K. What is the…

A: Q(L,K)=100L0.4K0.6 C(L,K)=5L+30K w=5 r=30 Q=1000   MPL=dQ/dL=0.4(100)L-0.6K0.6 MPL=40L-0.6K0.6…

Q: LR-ATC Q2 Q3 Q4 Output In the above figure, between Q3 and Q4 units, the firm experiences O a.…

A: In a market, economies of scale refers to the economic concept to explain a situation when a firm…

Q: Does a relationship exist between increasing returns to scale and long-run average cost? Ex with the…

A: Economies of scale or increasing returns to scale are utilized conversely; both implies to a fall in…

Q: The long run is best defined as a time period O during which at least one input cannot be changed. O…

A: Some factors of production vary with the output produced in the short run, while some remains…

Q: A firm uses corn and protein supplement to mix a particular type of hog feed. Corn costs $0.08 per…

A: The iso-cost line is a graphical representation of two factors of production for the same total…

Q: According to Accountants cost of production consist of both explicit and implicit cost ---- a) Yes.…

A: According to Accountants cost of production consist of both explicit and implicit cost. This…

Q: 20.Calculate the average fixed cost (AFC), for a level of production Q = 20, knowing that the total…

A: Given: TC=200+3Q+2Q2 Level of production (Q)=20

Q: When a firm experiences declining long-run average total costs as it produces more output, there are…

A: In the LR, the costs depend on the output level, the factor cost, and the factor's quantity which is…

Q: If all resources used in the production of a product are increased by 20 percent and output…

A: In economics, the cost of production is outlined because the expenditures incurred to get the…

Q: Write T if the statement is True, and F if otherwise. 1. Isocost curves show the cost of the firm in…

A: An Iscost curve is a curve that implies a combination of inputs that a firm can buy to produce a…

Q: 800 Is 720 640 SRATC, 560 480 SRATC, 400 320 SRATC, 240 160 LRATC 80 100 200 300 400 500 600 700…

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Q: When the slope of the total product curve is steep, the marginal product is O A) low. B) negative.…

A: Total product is the output produced using the given unit of input.

Q: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: There occurs economies of scale when average cost decreases with increase in production,…

Q: Diseconomies of scale are present when. Select one or more: O a. total costs fall as output rises O…

A: Large firms may experience economies of scale or diseconomies of scale as their output grow.

Q: Define explicit costs and implicit costs.      b. Assume the following: * A firm buys a unit of…

A: Explicit cost is the cost that is incurred for paying external expenses like wages to employees,…

Q: Cost LRAC A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run…

A: We have to find Long run average cost curve.

Q: When diseconomies of scale occur: O A. the long-run average total cost curve O B. marginal cost…

A: The short-run refers to the time period when at least one factor of production of the firm is fixed…

Q: When diseconomies of scale occur: A. the long-run average total cost B. marginal cost intersects…

A: The total cost is the total expenditure on goods and services. Total cost includes both the variable…

Q: Assume that Peter's short run Total Cost Curve is TC = 20,000q- 200q² +q*. Calculate his (short run)…

A: Average total cost is total cost divided by quantity.  ATC = TC / q => ATC = (20,000q - 200q2 +…

Q: 4. Questions and Diseconomies of scale The law of diminishing marginal returns erence between the…

A: Law of diminishing marginal return applies to short run where at least one factor is fixed

Q: The upward sloping portion of a long-run average cost curve illustrates diseconomies of scale.…

A: Economies of scale refer to the production gets cheaper when more and more units are produced (up to…

Q: Diminishing marginal products means that if we double any one of K, N or L, output will less than…

A: In a market, a firm faces different phases of production when moving towards the production of more…

Q: A firm's marginal cost can always be thought of as the change in total cost if O the firm moves to…

A: The marginal cost definition is the cost of producing a service or product unit that is not intended…

Q: The table below indicates that the total variable cost of producing 150 units of the output is 200.…

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Q: (Explicit and Implicit Costs) Determine whether each of the folowing is an explicit cost or an…

A: Explicit Cost:- Explicit costs are normal business expenditures that appear in general ledger…

Q: Cost LRAC B A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run…

A: In economics, when the firm expands or grows then there exists a change in its cost too. When the…

Q: When output is zero, total fixed cost is zero. O True O False

A: Total fixed cost it is cost that do not vary with level of output.

Q: Refer to the above diagram. Diseconomies of scale?

A: Diseconomies of scale or decreasing returns to scale is the situation of increasing total cost…

Q: In the figure, the intersection of curves A and B is the point at which 20 16 20 40 60 80 Quantily…

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Q: When diseconomies of scale occur: CA. the long-run average total cost B. marginal cost intersects…

A: The average total cost (AC) is the per unit cost of production of the firm. The long run average…

Q: Cost to be incurred even in the absence of production is reflected on Variable Input. O True O False

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Economies of Scale. Figure 7.10b illustrates the situation in which a larger plant can attain a…

A: The economics as a study is associated with the use of resources, where the resources are limited in…

Q: Total Total Output Fixed Variable (Q) Costs Costs 0. $50.00 $0.00 1 $50.00 $70.00 $50.00 $120.00…

A: Fixed cost is the cost that remains constant and stays the same at all levels of output. Variable…

Q: A firm experiemces A) diseconomies of scale, average total cost curve slopes downward B) economies…

A: C)diminishing marginal Returns; average total cost curve shift upward

Q: "Spreading overhead" refers to O A decrease in the average fixed cost as output rises O An increase…

A: Spreading overhead refers to using an allocation method to distribute the indirect overhead costs…

Q: Distinguish between economies of scale and diseconomies of scale. Give examples of why a firm may…

A: The long-run average total cost curve declines because apparently, the firm becomes efficient in…

Q: What does the long run average cost curve exhibit? It defines the least cost per unit of output when…

A: Answer: The long-run average cost (LRAC) curve shows the lowest cost per unit of output produced…

Q: If a firm experiences economies of scale over all relevant levels of output, its long-run average…

A: A production function illustrates the relationship between the inputs used and the output produced…

Q: The shape of the long-run average cost curve is primarily due to: O economies and diseconomies of…

A: Long run average total cost is the per unit cost of production in the long run. It is the ratio of…

Q: . The marginal cost when output = 10 is equal to a. the slope of a line drawn tangent to the total…

A: # Marginal cost is the total cost per unit of output. The formula for marginal cost is:- MC = TC / Q…

Q: Economies of scale occur when the long run total cost is decreasing the long run total cost is…

A: In a market, organizations may face all the three faces of cost, such as increasing, decreasing or…