Motivational theory its strengths and weaknesses
Task to do:
One motivational theory, it's strengths and weaknesses and how you would apply it
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What are economies of scale? Give an example. What are the graphic relationships among fixed, variable, total, average, and marginal costs? What is the relationship between productivity, cost of inputs, and the cost of production?
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Does the function f exhibit decreasing, constant, or increasing returns to scale? Is f homogenous of some degree k>0? Write down the firm’s cost minimization problem.
Problem: Which of the following is not considered by economists to be a basic resource or factor of production?
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