Question
Hello, I have difficulty with the following exercise I dont understand, thank you for your help: 44.Which of the following statements is true? Select one:
Hello, I have difficulty with the following exercise I dont understand, thank you for your help:
44.Which of the following statements is true?
Select one:
a.Diseconomies of scale is a short-run concept.
b.Diminishing marginal product is a short run concept.
c.Diminishing marginal product results when the firm doubles in size without doubling output.
d.Diseconomies of scale result when only one input increases and output fails to keep up.
e.All of the above.
47.The marginal product of labour can be defined as
Select one:
a.change in profit/change in labour.
b.change in labour/change in output.
c.change in output/change in labour.
d.change in labour/change in total cost.
48. Diseconomies of scale occur when
Select one:
a.long run average total costs fall as output increases.
b.average fixed costs are constant.
c.average fixed costs are falling.
d.long run average total costs rise as output increases.
53. Economies of scale occur when
Select one:
a.long-run average total costs fall as output increases.
b.long-run average total costs rise as output increases.
c.average fixed costs are constant.
d.average fixed costs are falling.
54.
Quantity (Units) | Total cost ($/unit) |
0 | 100 |
1 | 110 |
2 | 125 |
3 | 150 |
4 | 220 |
Use the above data for Bob's Bootery to answer the following question:
The efficient scale of operation for Bob's Bootery is:
Select one:
a.0.
b.4,
c.2.
d.1.
e.3.
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