Using the table below indicate which firm has (i) diseconomies of scale and (ii) constant returns to scale over the entire range of output. Explain your answer Quantity(Units of output ) 1 2 3 4 5 6 7 Firm A 210 340 490 660 850 1060 1290 Firm B 180 350 510 660 800 930 1050 Firm C 120 250 390 540 700 870 1050 Firm D 150 300 450 600 750 900 1050

Q: Siven that the revenue function, R (x) = 26x - 2x and the cost function, C(x) = 6x + 20. Find %3D %3...

A: Profit refers to the difference between the total revenue and total cost. Profit = TR-TC.  

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A: The original rationale and purpose of the creation of a “minimum wage The minimum wage was establish...

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A: The game has 4 sub-games which are as follows: 1) Subgame for actions W and X 2) Subgame for actions...

Q: 33. For inferior commodities, income effect is

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A: Please find the answer below.

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A: Cost of a firm in a competitive market: TC= 5000+2q2-400q (differentiating the TC wrt q, we get the ...

Q: A production function is given by q=4L^( 2/3 ) k^ ('/?) where L = labour, k = capital. (a) Find beha...

A: (a) q=4L23K13Now,Marginal Product for labour is,∂q∂L=MPL=4(23)L-13                     =83L-13Margin...

Q: 1. What are the advantages and disadvantages of collusion ?  2. In a stackelberg game, what is the...

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Q: Namia's output has been constant at Y every year. In year 0, it finds an investment project that wil...

A: Output = Y Output increases by 0.05Y each year from year 2. Interest rate = 4% = 0.04

Q: What is meant by a regulatory taking?

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A: When talking about travel cost method, it is widely used to analyze enviornmental quality and it rec...

Q: Which of the following did A. W. Phillips demonstrate in his famous Phillips curve? An inverse relat...

A: An economic theory proposed by A. W. Phillips states that inflation and unemployment have an inverse...

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A: True The given statement is true. The Common Agricultural Policy was founded on the economic notion ...

Q: Suppose in the goods market equilibrium of an open economy, saving is $6 billion, and investment is ...

A: According to the question, Saving= $6 billion Investment=$8 billion Measurement error =0  

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Q: Consider a small open economy. Assume that GDP (Y) is 5000. Consumption (C) is given by the equatio...

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Q: true or false If the agency relationship is undisclosed, the agent is

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Q: Last year a country had exports of $100 billion, imports of $70 billion, and purchased $60 billion w...

A: To find : Value of domestic assets purchased by foreigners. 

Q: Consider country A, which is a closed economy. Suppose that A’s private saving is 280 and investment...

A: As per the information given in question, in country A saving and investment identity is : private s...

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A: To find : According to scenario what will happen im change of price .  

Q: Please explain why the marginal cost decreases first and then increases in your own words. Please pr...

A: Marginal cost is the cost of producing an additional unit of goods. It is a U-shaped curve. Initiall...

Q: In the following game, identify how many subgames there are. Then, solve the game to find its subgam...

A: In a tree game, when we have to find subgame perfect nash equilibrium, we use backward induction rul...

Q: Technological changes in telecommunications have: Select the correct option and explain why its corr...

A: An increase in efficiency of process or product that would result in an increase in the level of out...

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Q: Suppose there was a banking crisis. The money supply would shrink by the greatest amount if the publ...

A: Money supply = Monetary base * Money multiplier => Δ(Money supply) = Δ(Monetary base) * Money mul...

Q: 2.How developed countries can assist developing countries with their population program

A: Developed countries are taking several measures in order to reduce the population of their economies...

Q: How did Marxism challenge the prevailing political and economic traditions?

A: Marxism Marxism is a basically a social and political worldview that encompasses Marxist class confl...

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Q: PartE On the attached graph paper, draw the Supply Curve for the Supply Schedule below. Anton's Barb...

A: The supply curve depicts the producers' point of view, in which the amount they will sell is determi...

Q: The ounti USS-Billions -55 Imports (goods) Exports (services) Income receipts on Stats investments a...

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only ...

Q: The gravity model of trade describes an exact physical relationship between trade, distance and size...

A: "The statement is FALSE."

Q: Compare the roles of the United Nations, the World Bank, the European Union, the World Trade Organiz...

A: Business can be of different categories various types. For example in burger business, there is burg...

Q: Abhishek's utility function is: U = min {2x- y, 2y–x} %3D Which letter resembles Abhishek’s indiffer...

A: Utility: - Utility is the satisfaction derived by any consumer from consuming a good or service.

Q: Briefly explain the four explanations of unemployment presented by the efficiency wage theory.

A: According to efficiency wage theory, you should pay your employees more than the market wage for the...

Q: Using the data in the table below, calculate the CPI and the inflation rate in each year, using 2013...

A: CPI = (cost of basket in current year/cost of basket in base year )*100 The base year is 2013 ------...

Q: Given that the revenue function, R (x) = 26x - 2x and the cost function, C(x) = 6x + 20. Find %3D %3...

A: Given; Revenue function; R(x)=26x-2x2Cost function; C(x)=6x+20

Q: What are the two main conclusions of the Heckscher-Ohlin Theory of trade?

A: Heckscher-Ohlin Theory is a theory of comparative advantage used in international trade. It explains...

Q: If a bank holding company owns a bank that is chartered by the Office of the Comptroller of the Curr...

A: The answer is - the OCC

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A: The elasticity of supply is the responsiveness in quantity supply due to changes in price.

Q: В.1. a) A profit-maximising firm faces a downward-sloping demand curve for its output and has margin...

A: * ANSWER :-    B.1) (a)  

Q: two-good model, a consumer starts with an intial endowment of 10.00 units of good 1 and 13.00 units ...

A: Answer to the question is as follows:

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

Q: Prove that the multiplier is equal to 1/(1-mpc)

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

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A: Poverty due to scarcity - The term scarcity refers to the fixed wants of an individual due to the av...

Q: If P35, 000 is deposited now into a savings account that earns 6% per year, what uniform annual amou...

A: Given: Amount=P 35000 Interest rate (i)=6% Number of years (n)=10  

Q: Explain an inverted yield curve using the pure expectations theory.

A: Inverted yelid curve As long-term yields go under short-term yields, resulting in an inverted curve....

Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.