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Economists assume that firms search for the cost-minimizing combination of inputs that will allow them to produce a given level of output. On what two factors does the cost-minimizing combination of inputs depend? The cost-minimizing combination of inputs depends on O A. technology and input prices. O B. opportunity costs and explicit costs. O C. fixed costs and variable costs. O D. marginal returns and returns to scale. O E. technological change and the production function.A writer for the Wall Street Journal discussing the relatively poor performance of HSBC, a global bank with headquarters in the United Kingdom, noted that: "[The poor performance] is further reason to ask whether the structure of such a large, global bank is working against it... There remains a legitimate question whether the group is too big to manage." Reading this article, a student remarks: "It seems that firm is suffering from diminishing returns." Source: Paul J. Davies, "HSBC Shows the Diminished Value of Global Banks," Wall Street Journal, February 23, 2015. Briefly explain whether you agree with this remark. O A. Disagree, because the size of the bank is fixed in the long run. O B. Agree, because the minimum efficient scale for banks is smaller. O C. Agree, because the article is describing the long run. O D. Disagree, because the article is describing diseconomies of scale.CA The figure illustrates the short-run cost curves for a company that produces cell phones. 68.007 64.00- Identify the average total cost curve (ATC), the average variable cost curve (AVC), the average fixed cost curve (AFC), and the marginal cost curve (MC) in the 60.00- 56.00- figure The ATC curve is C1 , the AVC curve is C2 , the AFC curve is C4 , and the MC curve is |C3 er phone) 52.00- 48.00- 44.00- 40.00- 2 36.00- Cost (dollars 32.00- C3 28.00- CZ 24.00- 20.00- 16.00- 12.00- 8.00- 4.00- 0.00- 0 3 5 6 Quantity (cell phones in 1000s)Mr. Jernigan owns a piece of land on which he grows corn. Corn production annually requires $2,000 in seed, $1,000 in fertilizer, and $4,000 in pesticides. Mr. Jernigan uses his own labor to grow the corn and therefore hires no workers. If Mr. Jernigan did not use his time to grow corn, he would instead be able to sell insurance, earning $45,000 per year. Suppose another farmer has just offered to pay Mr. Jernigan rent of $20,000 per year for use of the land If Mr. Jernigan refuses to rent the land to another farmer, then what will be his accounting costs from farming corn himself on his land? What will be his economic costs? Mr. Jernigan's accounting costs will be $ 15000 per year, and his economic costs will be $ 60000 per year. (Enter numeric responses using integers.)uppose the total cost of producing 5,000 tennis balls is $60,000, and the fixed cost is $10,000. What is the variable cost? (Round your response to the nearest dollar.) When output is 5,000, what is the average variable cost? (Round your response to two decimal places.) When output is 5,000, what is the average fixed cost? (Round your response to two decimal places.) .Assuming that the cost curves have the usual shape, the dollar difference between average total costs and average variable costs as output increases
