Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started