The termdiminishing returnsrefers to a:A) fallout’s interest price that deserve to be supposed as one"s investment in a solitary asset increases.B) palliation in profits brought about by increasing output past the optimal point.C) decrease in complete output because of overcrowding, when too lot labor is offered with too small land or capital.D)decrease in the extra output because of the use of an additional unit of a change input, when an ext and more of the change input is used and all other things are hosted constant
D) diminish in the extra output because of the usage of second unit of a variable input, when more andmore that the variable input is used and all other things are held constant
The short run is a duration that is:A) much less than 1 week.B) much less than 1 month.C) long enough in which to differ output but not plant capacity.D) long sufficient in i beg your pardon to do all economic adjustments
The long run is a duration that is:A) long enough in i m sorry to differ the amounts of all determinants of production.B) an ext than one week.C) more than one month.D) at least one year
Total price divided through the amount of output developed is:A) average complete cost.B) average fixed cost.C) typical product.D) marginal cost.
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Marginal cost is the adjust in:A) total product result from a one-unit adjust in a change input.B) full cost resulting from a one-unit change in amount of a change input.C)total cost divided through the readjust in output.D) average cost resulting from a one-unit readjust in amount of output
Average variable price is the proportion of:A) total cost to the marginal cost.B) change to addressed inputs.C)variable cost to the quantity of output.D) fixed price to variable cost.
If a firm experience lower expenses per unit as it rises production in the long run, this is an example of:A) raising returns come scale.B) decreasing returns to scale.C) raising opportunity costs.D) range reduction
Ashley Bakery expects that marginal expense curve will ultimately slope upward, since in baking there is (are):A) consistent opportunity costs.B) a maximum efficient scale.C) diminishing marginal returns.D) decreasing possibility costs
10. If a for sure produces 10 devices of output and also incurs $35 in average total cost and also $5 in typical fixed cost, averagevariable price is:A) $30.B) $35.C) $50.D) $30
11. Diminishing marginal returns happen when:A) each extr unit that a variable aspect adds more to full output than the previous unit.B) secondary variable element adds much less to full output 보다 the ahead unit.C) the marginal product that a variable element is increasing, however at a diminish rate.D) complete product decreases
The marginal product of labor is the readjust in:A) labor separated by the change in complete product.B) readjust in full output split by the adjust in the quantity of labor.C) average output split by the readjust in the quantity of labor.D) full costs divided by the adjust in the amount of labor
The full cost curve because that a snowmobile dealership shows just how ________ expense depends top top the amount of ________.A) total; resolved inputsB) average; variableC) total; outputD) marginal; output
Diminishing return to one input set in:A) once all inputs space fixed.B) when some inputs space fixed and also some are variable.C) as soon as all inputs are variable.D) just in the lengthy run.
If Marie Marionettes is operating under problems of diminishing marginal product, the marginal prices will be:A) equal to ATC.B) decreasing.C) increasing.D) constant
Average variable price equals all the followingexcept :A) variable expense divided through output.B) (total price - fixed cost) divided by output.C) average complete cost minus average fixed cost.D) variable expense times output
Marginal price ________ end the range of raising marginal returns and ________ over the variety of diminishingmarginal returns.A) increases; fallsB)falls; increasesC) is constant; risesD) increases; is constant
(Figure: Short-Run Costs) B is the ________ expense curve.A)average totalB) typical variableC) marginalD) total.
When marginal expense isbelowaverage change cost, mean variable cost must be:A) at its minimum.B) at its maximum.C) falling.D) rising.
if marginal price is better than average complete cost, then:A) average complete cost is at its maximum.B) average full cost is at its minimum.C) average complete cost is increasing.D) average total cost is decreasing.
At the long-run quantity of output, wherein the LRATC curve is at its lowest point, that is tangent to the ________ of thecorresponding short-run average full cost curve.A) minimumB) maximumC) ideal of the minimumD) left that the minimum
For large beer breweries, that is usual for long-run average full cost to decline as calculation increases. This indicatesthat many breweries achieve:A) diseconomies that scale.B) diminishing marginal returns.C) economic situations of scale.D) continuous returns to scale
Table: Labor and Output) introduce to the table, the marginal product that the 5th worker is:A) 8.B)4.C) 3.D) 40.
(Table: Labor and Output) introduce to the table, the typical product when four workers space employed is:A) 9.B) 36.C) 10.D) 6.
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Figure: Marginal Product that Labor) making use of the marginal product of labor curve in the accompanying figure, thetotal product of job for eight workers is:A) 40 bushels.B) 35 bushels.C) 96 bushels.D) 75 bushels
26. (Table: total Product and Marginal Product) The marginal product of the 2nd worker is:A) 10.B) 15.C) 20.D) 30.
37. A firm the is maybe to an ext efficiently utilize spin-offs as it rises production in the long run is an example of:A) economies of scale.B) diseconomies that scale.C) labor-intensive production.D) capital-intensive production
38. Krista operates a dry-cleaning service in Tampa the incurs $900 per month in addressed costs. Last month she totaloutput equaled 3,000 pounds that clothes. This month her total output fell to 2,700 pounds. This way her averagefixed price ________ by a little much more than ________.A) fell; 3.33 centsB)increased; 3.33 centsC) fell; 2.50 centsD) increased; 2.50 cents
(Figure and also Table: Variable, Fixed, and also Total Costs) In the figure, once 51 bushels the wheat are produced, averagefixed cost is ________, mean variable expense is ________, and average complete cost is ________.A)$7.84; $11.76; $19.60B) $133.33; $200; $333.33C) $400; $600; $1,000D) $5.33; $13.33; $18.67
Connect Finance Online accessibility for Essentials the Investments9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie
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