FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q5.1 Define the law of diminshing Returns. Why does it take place? Q5.2 Define the relationship between Average product and Marginal product. At what point

image text in transcribed
Q5.1 Define the law of diminshing Returns. Why does it take place? Q5.2 Define the relationship between Average product and Marginal product. At what point MP=AP Q5.3 Discuss the relationship between Marginal cost and ATC(Average cost). At what point MC=ATC Q5.4 What are scale economies? Do scale economies take place in the short run or long run

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

Democracy And Public Administration

Democracy And Public Administration

Authors: Richard C Box

1st Edition

1317473213, 9781317473213

More Books

Students also viewed these Economics questions

Question

★★★★★
Nitrogen monoxide, NO, is formed in automobile exhaust by the reaction of N2 and O2 (from air). The equilibrium constant Kc is 0.0025 at 2127oC. If an equilibrium mixture at this temperature contains...

Answered: 1 week ago

Question

★★★★★
How can the following help you evaluate a mutual fund? a. Newspapers b. The fund's objective c. The prospectus d. The annual report e. Financial publications f. The Internet

Answered: 1 week ago

Question

★★★★★
=+c) Should Shawn purchase the long-range predictions?

Answered: 1 week ago

Question

★★★★★
Cornerstone Development Companys balance sheet information at the end of 2016 and 2017 is provided in random order, as follows: Additional information: At the end of 2016, (a) The amount of long-term...

Answered: 1 week ago

Question

★★★★★
Suppose 1-month forward points for UK pound and USD are 0.0023. The current spot rate of S(USD/GBP)=1.3215. What are the 1-month forward rates (bid and ask) of F 1 (USD/GBP)?

Answered: 1 week ago

Question

★★★★★
For an example you are apply for a job dealing with children and parents. The job is infant/toddler assistant teacher. Your need to answer the following questions. You don't have children. What do...

Answered: 1 week ago

Question

★★★★★
The average student loan debt is reported to be $25,235. A student belives that the student loan debt is higher in her area. She takes a random sample of 100 college students in her area and...

Answered: 1 week ago

Question

★★★★★
A coffee house finds that its weekly profit P (measured in dollars) as a function of the price x (measured in dollars) it charges per cup of coffee is given by the function m, defined by m(x) = -300x...

Answered: 1 week ago

Question

★★★★★
Who are the Public-private partners involved in the Downtown Commercial & Residential Building Improvement Program in the City of Orlando? What Nonprofits are involved in the Downtown Commercial &...

Answered: 1 week ago

Question

★★★★★
2. A local charity is selling one thousand raffle tickets at $1 a piece. The grand prize is $250, with two second prizes of $100, and five third prizes of $50. Part A: Fill in the probability...

Answered: 1 week ago

Question

★★★★★
0 = are length -19m 0=? radius of the circle = 7m rad. Round your answer to two decimal places.

Answered: 1 week ago

Question

★★★★★
2. In this chapter, the reader should reflect on the following concepts: Systemic structuring, the displaced error, the communicable part of knowl-edge, tacit knowledge, hidden knowledge, analogy,...

Answered: 1 week ago

Question

★★★★★
2. List five points that are crucial to pay attention to if you want to positively influence someone from a foreign culture.

Answered: 1 week ago

Question

★★★★★
1. Discuss what you think is meant by the following statements: a) Splitting an egg into half to get two chickens. b) We cannot study time by taking apart a clock.

Answered: 1 week ago

Previous Question Next Question