Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 04, 2021

What is the definition of Economies of scale? n

What is the definition of Economies of scale?
n

Step by Step Solution

★★★★★

3.46 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

A production technology refers to a specific combination of labor physical capital and technology th... 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

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

Recommended Textbook for

Intermediate Microeconomics and Its Application

Authors: walter nicholson, christopher snyder

11th edition

9781111784300, 324599102, 1111784302, 978-0324599107

More Books

Students also viewed these Economics questions

Question

★★★★★

A monopolist can produce at constant average and marginal costs of AC = MC = 5. The firm faces a market demand curve given by Q = 53 P. The monopolists marginal revenue curve is given by MR = 53 ...

Answered: 1 week ago

Question

★★★★★

3. Assume that your chosen organisation has made a small investment in Wilson Supplies Ltd. The following are the account and balances (in random order) for the year ended 31 March, 2021. Notes...

Answered: 1 week ago

Question

★★★★★

A factory operator hypothesized that his unit output costs (y) depend on wage rate (x1), other input costs (x2), overhead costs (x3), and advertising expenditures (x4). A series of 24 monthly...

Answered: 1 week ago

Question

★★★★★

Give the order of magnitude () for the following algorithm. Explain why your answer is correct. GET VALUES for A1, A2, ..., An, and B, B2, ..., Ba Get value of n /* set i equal to 1 */ /* for each of...

Answered: 1 week ago

Question

★★★★★

A feedback control system has the structure shown in Figure P2.35. Determine the closed-loop transfer function Y(s)/R(s) (a) By block diagram manipulation and (b) By using a signal-flow graph and...

Answered: 1 week ago

Question

★★★★★

Measurements of water intake, obtained from a sample of 17 rats that had been injected with a sodium chloride solution, produced a mean and standard deviation of 31.0 and 6.2 cubic centimeters (cm3),...

Answered: 1 week ago

Question

★★★★★

3. The brain is relatively plastic, so enriched, active environments and flexible instructional strategies are likely to support cognitive development in young children and learning in adults. The...

Answered: 1 week ago

Question

★★★★★

Refer to the financial statements of Tootsie Roll Industries and the Notes to Consolidated Financial Statements in Appendix A. Instructions Answer the following questions. (a) What were Tootsie Rolls...

Answered: 1 week ago

Question

★★★★★

Based off Java Homework 2 Analyzing Runtimes of Algorithms Homework Objectives Be able to understand the part of the code Be able to analyze the efficiency of the given part of the code Introduction...

Answered: 1 week ago

Question

★★★★★

National Bank operates a network of automated teller machines (ATMs). Cash withdrawals at an ATM aver-age about $ 80. The bank estimates that the fixed cost of filling an ATM with cash is about $ 100...

Answered: 1 week ago

Question

★★★★★

Question You want to borrow $103,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,350, but no more. Assuming monthly compounding, what is the highest rate...

Answered: 1 week ago

Question

★★★★★

Maximizing Firm Value: A Realistic Example The Ricardo-Trans Am Corporation has currently no debt in its capital structure. Its Beta is 1. The risk free rate is 6 percent and the market risk premium...

Answered: 1 week ago

Question

★★★★★

Investigate and report (5 pages) on an organisation's method of allocating electricity costs. You can use any organisation with which you are familiar. Consider the following: Does the organisation...

Answered: 1 week ago

Question

★★★★★

As a principal designer for GE Healthcare, Doug had been designing diagnostic imaging equipment for more than 20 years when he realized that young patients' actual experience of this cutting -- edge...

Answered: 1 week ago

Question

★★★★★

The coronavirus pandemic has disrupted everyday life in so many ways. Not only our personal lives, but our work and school lives as well. As businesses begin to re-open, there have been several...

Answered: 1 week ago

Question

★★★★★

The goal of this competency was to explore how motivation and engagement contribute to the successes and challenges of an organization. We discussed strategies for fostering motivation and engagement...

Answered: 1 week ago

Question

★★★★★

Alice and Bob were given two numbers as strings. The reason for the numbers to be taken as strings was that they were very large which may not fit in a long long int. Their task was to find the sum...

Answered: 1 week ago

Question

★★★★★

Complete problem P10-21 using ASPE. Data from P10-21 Original cost ................................................................. $7,000,000 Accumulated depreciation...

Answered: 1 week ago

Question

★★★★★

Suppose the person faced with the budget constraint described in problem 2.1 has preferences for apples (A) and bananas (B) given by Utility = AB a. If A = 5 and B = 80, what will utility be? b. If A...

Answered: 1 week ago

Question

★★★★★

Suppose that the Acme Gumball Company has a fixed proportions production function that requires it to use two gumball presses and one worker to produce 1000 gumballs per hour. a. Explain why the cost...

Answered: 1 week ago

Question

★★★★★

On the island of Pago-Pago, there are two lakes and 20 fishers. Each fisher gets to fish on either lake and gets to keep the average catch on that lake. On Lake X, the total number of fish caught is...

Answered: 1 week ago

Question

★★★★★

This problem refers to the 1990 Census data presented in Problem 19 of Chapter 5 and in Problem 14 of Chapter 8. Use the computer output from Problem 14 of Chapter 8, along with the additional output...

Answered: 1 week ago

Question

★★★★★

Use the computer output for the radial keratotomy data of Problem 12 in Chapter 8, along with the additional output here, to answer the following questions. a. Perform the overall F test for the...

Answered: 1 week ago

Question

★★★★★

Use the computer output for the Business Week magazine data of Problem 13 in Chapter 8, as well as the additional output here, to answer the following questions. a. Perform the overall F test for the...

Answered: 1 week ago

Previous Question Next Question