Diminishing Marginal Returns” is achieved when?

Q: Draw the production function graph illustration the three stages (diminishing returns) in the…

A: Incrementing returns, falling returns and negative returns are the three stages of production. The…

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: 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: Explain why the fixed cost has no influence at all on marginal cost.

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total variable…

Q: why is average product low for a good

A: Total product represents the maximum output that a firm is able to produce with its capital and…

Q: Another important law in economics is the “law of marginal returns or the law of increasing costs".…

A: Marginal return refers to the additional output that obtained by increasing one more unit of input.

Q: Epiphany & Co's production function is given by Q = 50VLK. Let w = 25 and r = 100 be the prices of…

A: The money spent to purchase the factor of production to produce the goods and services is termed as…

Q: If the marginal cost is $33 and the marginal income is $56, what is the value of the marginal profit

A: Given, The information in the question above is: Marginal cost = $33 Marginal revenue = $56…

Q: how can i calculate net cost if i have an equation for marginal cost and marginal benefit?

A: Net Cost (NC) is generally used to do cost-benefit analysis. Hence, it is a measure to determine the…

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A: Marginal cost is the cost which occurs due to the production of one more unit of output is called…

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: Give an example of an opportunity cost that an accountant would not count as a cost. Why would the…

A: Opportunity cost, in economics, is related to the concept of scarcity and represents the potential…

Q: Fill in the blank and explain the choice of correct answer. When the marginal…

A: The markets are the place where the buyers of various goods and services and the sellers, or the…

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: Discuss the impact of long run on cost of doing business.

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Suppose the fictional country of Teton produces only two goods: sorghum and handbags. The following…

A: The production possibility frontier (PPF), also known as the production possibility curve, is a…

Q: What is the explicit and implicit cost? Can explicit or implicit be used for a business or…

A: Cost refers to the sum of money a corporation spends on making or producing products or services.…

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: . Why is the Average Total Cost curve U shaped?

A: Average Total cost in economics is the cost that indicates how firms choose to price their…

Q: Learning curves and economies of scales are not necessarily the same thing.” Justify your position…

A: A unit cost is a net expense paid by a business to manufacture, stock, and deliver each unit of a…

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: How is the optimum point of production for a firm determined?

A: Point of optimum production is that in which the plant is operated at its full capacity. When the…

Q: Do AC and AVC intersects each other?

A: Average cost measures the cost incurred by a firm per unit of output produced. Average variable cost…

Q: Why do you think that average and marginal cost curves have the same general shape?

A: Average cost: it is the per unit cost of production calculated by using the following formula.

Q: A commercial fisherman notices the following relationship between hours spent fishing and the…

A: The marginal product or marginal physical productivity of an input (factor of production) in…

Q: Draw a well behaved production function and show the 3 stages of production. What distinguishes…

A: The production function shows the technical relationship between factor of production and final…

Q: What is the difference between the labor intensive production and capital intensive production…

A: Production basically refers to the process of creating goods or services for consumption. It…

Q: write down 2 examples of implicit cost?

A: implicit cost is when company use thier resources ot helps in calculating economic profit

Q: hat is tah relationship between average production and marginal prod

A: Total product refers to the output amount that can be produced by a given amount of variable factor,…

Q: Why might marginal product be increasing at lower levels of output and decreasing at higher levels…

A: Marginal product (MP) is the extra output produced by one additional unit of input or raw material…

Q: The law if diminishing marginal returns is the rate at which one input maybe substituted for another…

A: The law of diminishing marginal returns is not the rate of substitution of one input for another…

Q: Explain what is meant by and what causes "Diminishing Marginal Product". Why is it only relevant in…

A: Marginal product refers to the increase in outpit resulting from employing additional units of…

Q: What is the law of diminishing marginal product, In which stages of production it manifest and What…

A: According to the rule of decreasing marginal returns, any manufacturing process will reach a point…