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.
When the wage rate paid for labor raises, in that case the: (1) supply of labor increases (2) opportunity cost of leisure rises. (3) workers always supply more labor. (4) level of national income increases. (5) opportunity cost of leisure falls.
Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l
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.
When the marginal revenue product of the last worker hired through a large firm is fewer than its marginal resource cost, in that case the firm: (i) increases profits if this lies off a few workers. (ii) operates in a region of decrea
Explain about the term smoothing techniques.
When a cartel member can persuade competitors to keep the cartel price but secretly give a discount price to certain customers, profits will rise: (w) for all members of the cartel. (x) since price cuts are only given to assigned customers. (y) as a result of an incre
What is the meaning of managerial economics?
Categorized the Positive income Elasticity?
Why is wealth definition of economics criticized?
Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Discover Q & A Leading Solution Library Avail More Than 1433625 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1929755 Asked 3,689 Active Tutors 1433625 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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