Diminishing Marginal Returns” is achieved when?

Q: give me an example of marginal analysiss in a table

A: Marginal analysis is based on consumption of an additional unit of the good.  The table below shows…

Q: Another important law in economics is the “law of marginal returns or the law of…

A: The law of marginal returns indicates that when the firm uses more of the same variable input to…

Q: What is marginal product, and what does it mean if it is diminishing?

A: The marginal product is determined by the change in total output as one additional input is used in…

Q: Explain the benefits of experience curves?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: As the economy moves to the right in Exhibit 3 along the upward-sloping aggregate supply curve the:…

A: The movement in the supply and demand curve occurs when the price of goods changes.   Whenever the…

Q: Among the three stages of production, until what point should one produce considering the law of…

A: The law of diminishing marginal product explains the three stages of production that is applicable…

Q: If the slope of the total productivity line is decreasing as output increases, what does that say…

A: Marginal product is the increase in units if goods due to the additional unit of worker.    Marginal…

Q: At what level of production does the marginal cost have the least value? What is the marginal cost…

A: The marginal cost curve is the U-shaped curve.

Q: What are diminishing marginal returns? Using a diagram you have learned show and explain diminishing…

A: A production function shows the unique relationship between inputs and outputs. The change in output…

Q: Explain all resources that economic relies on.

A: In economics, resources refer to the items that provide benefits to the people directly or…

Q: 6. Why does Marginal Cost rise?

A: MC  is defined as  cost from producing an additional output.

Q: What "Economic profits are positive or negative " mean in terms of opportunity cost?

A: Opportunity cost defines the value of the next best choice that is given up when making a choice. It…

Q: hy does more inputs not necessarily translate into more output?

A: An input is something placed into a framework or interaction, while an output is produced or created…

Q: What determines how managers will purchase inputs?

A: Input is the factor of production used in the process of production . And determine the input by the…

Q: d. Which worker(s) are in the region of diminishing marginal returns? e. Which worker(s) are in the…

A: marginal cost is the extra expense caused by the creation of another unit of a decent or…

Q: What explains the shape of the average and marginal cost curves?  Is it linked to any production…

A: Marginal cost is the measurement of change in total cost with the increment of quantity produced by…

Q: If the marginal cost is increasing does this tell you whether the average variable cost is…

A: Economic costs involve not just the accounting costs but also the opportunity cost of making one…

Q: Give one limitation of marginal analysis and explain why?

A: As economies emerged, goods and services were produced that required machinery and labor. With time,…

Q: Draw a curve of diminishing returns with technological advances

A: The law of diminishing returns states that when the amount of one of the inputs in the production of…

Q: Solve the attahment.

A: There are different concepts of costs in the production process such as total cost, marginal cost,…

Q: gn ru

A: The long run is a concept in which all markets are in equilibrium, and  all quantities and prices…

Q: Demonstrate your understanding of the law of diminishing marginal returns.

A: Law of diminishing marginal productivity states that the marginal production from the additional…

Q: Draw a curve of diminishing returns with technological advances

A: Law of diminishing returns postulates that as more units of a variable input are used with a fixed…

Q: Why is economic cost known as opportunity cost? What are included in economic costs?

A: Opportunity cost refers to the cost of a foregone opportunity. The cost involved when an opportunity…