What is the impact of a fall in productivity on costs. Explain further.

Q: Is it possible to increase the labor productivity in a given production process which exhibits…

A: Diminishing return theory states that every additional input (labor) will lead to a smaller increase…

Q: Which of the following can we conclude when production has economies of scale? Marginal cost…

A: please find the answer below.

Q: Is it possible to increase the labor productivity (output per unit of labor) in a given production…

A: Labor is said to be productive when the output per unit labor increases overtime. Diminishing…

Q: An industry can be characterized by the following production function: Q= 2.5L 60 C-40 (a) What is…

A: Q = 2.5 L .60 C .40

Q: The basic difference between the short run and the long run is that?

A: Short run refers to the time period which does not allow the change in capital to adjust with market…

Q: Assuming labor is the only variable factor and paid at a constant wage rate ? show that the average…

A: The productivity metrics (TP, AP, and MP) and the cost measures have some significant correlations.…

Q: Show that increasing returns to scale can co-exist with diminishing marginal productivity

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: Describe the Fixed and Variable Costs?

A: A company mainly faces two type of costs known as fixed cost and variable cost. These two costs are…

Q: Graphically present the effect of technological change on production and explain it briefly

A: The production function of the firm shows the maximum amount of output that a firm is able to…

Q: using classical production function explain the stages of production of a firm and advise on the…

A: The process that is known to minimize the amount of waste and helps in bringing the product in a…

Q: In one graph show what happens if the I function increases (i.e. the % rises) In one graph show what…

A: The Solow–Swan model is an economic model of long-run economic growth set within the framework of…

Q: How would the long run total cost curve change if the price of capital increase? Explain your answer…

A: Long run total cost curve show the total cost of optimal choice of combination for labor and capital…

Q: What is the difference between production in the short run and production in the long run? Explain…

A: The short-run is a notion that states that at least one input is fixed while the others are variable…

Q: Is it possible to increase the labor productivity (output per unit of labor) in a given production…

A: Labor productivity: It is the volume of output produced per unit of labor during a particular time.…

Q: Which of the following input resource(s) can be used to measure the productivity of a firm? a.…

A: The productivity shows the efficiency of the input used in production. In other words, it shows how…

Q: Explain each of the following: constant returns to scale;  decreasing returns to capital; and…

A: The term "returns to scale" in economics describes the speed at which a change in output causes a…

Q: Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. (…

A: A production function is a functional relationship between the inputs which are used in the process…

Q: Define the term Manufacturing Costs?

A: Cost is the monetary value expended by a company to produce goods and services and to carry out its…

Q: Question 5.05 For the production function Q = 4LK, returns to scale: Select one: O Is decreasing.…

A: Production function shows relationship between output and inputs used.

Q: Help me answer this review question. Fill in the Blanks.  If the marginal cost equals average cost,…

A: In a market, cost curves provide significant information about the productivity and efficiency of…

Q: What are two examples of variable costs?

A: Variable costs depends on the level of output being produced by the firm.

Q: What are the different type of costs incurred in the short run and in the long run?

A: In the short run there are two types of costs, fixed and variable costs. Since there are fixed and…

Q: True or False    A production function in "economics" summarizes the technological relationship…

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

Q: b. What is the per-worker production function, y = S(k)? y =

A: b.

Q: fall in the long-run cost curve

A: A cost curve which represents the minimum cost at which output can be produced in the long run is…

Q: What is the  Short run and long run period in the production function of the economics

A: In simple words we can say that the Short run period in the production function of the economics…

Q: What is the difference between production in the short run and production in the long run? Explain…

A: please find the answer below.

Q: Y=$10 trillion, K=$10 trillion, L=100 million workers Cobb-Douglas Production Function What is…

A: Production function shows the relationship between the physical output and physical inputs.…

Q: How does the firm increase its production in the long-run? What input/s can it use to increase…

A: The process of production is the transformation of the raw materials into the final finished goods…

Q: Y = F(K, L) = A K0.6L0.4 Where Y is aggregate output, A is a measure of available technology, K is…

A: Note: "Sorry" Since you posted two questions with different images, I will do only first part. If…

Q: Which of the following production functions exhibits constant return to scale?

A: The production function exhibits constant returns to scale when there is a proportionate change in…

Q: Using examples, explain ways in which the Production function has evolved

A: A production function is a mathematical tool that can be used to study the relationship between…

Q: Microeconomics - Production Function Find the returns to scale of the following production…

A: In order to find the returns to scale of the production function , We put a constant before every…

Q: What are some reasons we might see increasing returns to scale?

A: When the output grows by a higher percentage than the growth in inputs during the manufacturing…

Q: How did you get the productivity of the new unit. What formula is used?

A: Productivity represents the ability of a factor of production to produce goods and services which…

Q: Give an quantitative example of marginal and average cost.

A: Average cost is the equivalent of total fixed cost (TFC) and total variable costs (TVC) divided by…

Q: When do you think production is on the part of increasing returns on the production function?…

A: Returns to scale is an economic term that defines what happens to long-run returns as production…

Q: Give some examples of the variable costs?

A: Variable Costs(VC) are those costs that varies with the quantity of output produced. If Q is the…

Q: Provethatthetechnologyf(L,K)=L2+K2 exhibitsincreasingreturnstoscale. What is the formula for the…

A: Increasing Returns to Scale: When our inputs are increased by m, our output increases by more than…

Q: Explain any assumptions and arguments we must use in order to conjecture that firms choose the…

A: Once a firm has determined the least expensive manufacturing technology, it will consider the…

Q: Explain what a production function is. What is the concept of diminishing marginal product?

A: Production Function: The function that explains the relationship between the physical inputs and…

Q: Explain Expansion path and the form of the Production Function.

A: It is a way of development which shows how an association's expense is limiting info blend changes…

Q: Assume a production function with constant returns to scale. Labour's share of income is 0.7 and…

A: A production function is a mathematical expression that represents the output as a function of…

Q: What is the difference between production in the short run and production in the long run? Explain…

A:

Q: if the capital flow is restricted for a small scale industry how will the production function of the…

A: Production function: Y = F(K,L)  that means the production of output (Y) depends on two factors of…