Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

49) a restaurant employs two workers and has two ovens. The firm buys a third oven. The week after, it buys a fourth oven. Why

49) a restaurant employs two workers and has two ovens. The firm buys a third oven. The week after, it buys a fourth oven. Why would the marginal productivity if the fourth oven likely be lower than the marginal productivity of the third oven? A) Higher electricity cost B) Limited demand for baked goods C) Diminishing returns D) Diseconomies of scale

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: David Laibson, John List

Global Edition 1st Edition

1292079576, 978-1292079578

More Books

Students also viewed these Economics questions

Question

=+What is the VIF for Age?

Answered: 1 week ago

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago