Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 12 0.5 pts Carlos owns a car repair business. Which of the following would be a xed input in his rm? 0 Spare tires

image text in transcribed
image text in transcribed
Question 12 0.5 pts Carlos owns a car repair business. Which of the following would be a xed input in his rm? 0 Spare tires 0 His repair shop building 0 Car batteries 0 Mechanics Question 13 0.5 pts If the average product of 10 workers is 50 bushels of wheat and the average product of 11 workers of wheat is 48 bushels of wheat, then the marginal product of the 11th worker was ___________ bushels of wheat. Question 14 0.5 pts Suppose a rm doubles its output in the long run. At the same time the average cost of production decreases. We can conclude that the rm is O exploiting the economies of scale available to it 0 facing constant returns to scale 0 facing diseconomies of scale 0 not using the available technology efciently

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

Theory And Practice Of Public Sector Reform

Authors: Steven Van De Walle, Sandra Groeneveld

1st Edition

1317500113, 9781317500117

More Books

Students also viewed these Economics questions

Question

Question 9 of 13

Answered: 1 week ago

Question

Subjective norms, i.e. the norms of the target group

Answered: 1 week ago