What is Increasing Returns to scale
What is Increasing Returns to scale?
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While proportionate increase in all factor of production results within a more than proportionate raise in output and it results first stage of production that is termed as increasing returns to scale. Marginal output rises at this stage. Higher degree of specialization and falling cost and so on will lead higher efficiency that result increased returns in the very initial stage of production.
By lying off three workers, total costs of a firm fall by $210 per day, indicating that the marginal: (w) revenue product of labor is $210. (x) revenue product of labor is $70. (y) resource cost of labor is $210. (z) resource cost of labor is $70.
Describe the Long term Demand Forecasting.
Explain the concept of revenue.
What are the tools and techniques for demand estimation?
The supply of labor within a perfectly competitive market is: (w) an upward sloping curve. (x) a horizontal line. (y) above the MRC. (z) below the MRC. Hello guys I want your advice. Please recommend some views for
Explain the Expenditure Method of Measurement of Elasticity.
As is given figure below. Assume that the prevailing price is P1 and the firm is now producing its loss-minimizing quantity. Determine the area which shows the loss: w) P2deP1. x) P3cbP1. y) P3caP0
If the wage rate increases from $25 per hour to $40 per hour, in that case the elasticity of the supply of labor from this worker is roughly: (i) zero. (ii) 7/15. (iii) 13/15. (iv) one. (v) minus 13/15. Q : Wage Rates and Marginal Resource Costs When all markets wherein a firm operates are purely competitive, in equilibrium the marginal resource cost of labor is the same to the: (w) firm’s marginal revenue. (x) marginal cost of output. (y) wage rate the firm must pay to hire more worker
When all markets wherein a firm operates are purely competitive, in equilibrium the marginal resource cost of labor is the same to the: (w) firm’s marginal revenue. (x) marginal cost of output. (y) wage rate the firm must pay to hire more worker
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Discover Q & A Leading Solution Library Avail More Than 1440665 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1926427 Asked 3,689 Active Tutors 1440665 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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