Many businesses taco increasing marginal costs because___ O A. in order to increase output, you have to purchase more inputs. O B. a business may have to shift to more expensive sources of inputs in order to increase output. O C. most businesses are not near capacity. OD. when the price falls, output increases.
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Many businesses taco increasing marginal costs because___
O A. in order to increase output, you have to purchase more inputs.
O B. a business may have to shift to more expensive sources of inputs in order to increase output.
O C. most businesses are not near capacity.
OD. when the price falls, output increases.
Step by step
Solved in 2 steps
- If MR (marginal revenue) is less than MC (marginal cost), then the firm sould O a. decrease production O b. increase production O c. keep the production level constant O d. keep the prices constantWhen both factor and non-factor input change, the period of production is_ O a. Mid-run O b. Long run O. None of these O d. Short run When the quantity demanded for a commodity is 400 units but the quantity supplied is 150 units it is called. O a. Shortage of supply O b. Equilibrium of demand Oc. Equilibrium of supply O d. Surplus of supplySuppose an avocado farm has cost C= 0.0049° + 28q + 1250, (where q is measured in bushels) and the rental cost of land is zero so the average cost curve includes only the farm's costs of labor, capital, materials, and energy-not land. This cost structure is representative of all tirms in this industry. The market price of avocados is $40 per bushel The firm's proft maximizing output is bushels of avocados. (Round your response to one decimal place)
- A firms marginal cost curve above the average variable cost curve is equal to the films individual supply curve. This means that every time a firm receives a price from the market it will be willing to supply the amount of output where the price equals marginal cost. What happens to the films individual supply curve if marginal costs increase?Gains from Trade - End of Chapter Problem Between 2016 and 2017, Nintendo produced 2.3 million NES Classic Edition mini consoles that sold out almost immediately as they arrived at stores. The retail price of the mini console was $59.99. However, if you were to check eBay at the time, you would see that people were buying the units for $250 each from scalpers. a. The price of $250 tells scalpers O they should continue to buy the console at the store and resell it on eBay for a higher price. they should keep the consoles they have already purchased and hang onto to them, as they will be considered antiques someday. they should no longer buy and resell the consoles because the price on eBay is too high to make a profit. b. Upon observing that the only way to obtain the gaming console is to buy it on eBay for $250, a consumer might do which of the following? Select all that apply. Consider buying another type of gaming console that is cheaper. Approach a family member about sharing the…What is the difference between accounting profit and economic prof? A Economic profit subtracts both explicit and implicit costs from total revenue, while acounting profit only subtracts explicit costs. OR Accounting proft only subtracts implicit costs from totsi revenue, while economic profit only subtracts explicit costs. OC Economic proft orly subtracts implicit costs from total revenue, while accounting profit only subtracts explicit costs. OD. Accounting proft suberacts both explicit and implicit costs from total revenue, while economic proft only subtracts explicit costs
- A kid wants to open a lemonade stand in their neighborhood. They would have elastic supply because O Lemonade takes a long time to produce O They can only produce one product O The product has to be sold from their house They have flexible inputsWhat is the relationship between a firm’s supply curve, its marginal cost curve, and its average variable cost curve? and pls give example/scenario.Which is the correct statement? Select one: a. Demand is flow O b. Demand is Stock O c. Demand is equal to price O d. Demand is equal to cost
- Which of the following is true about the long run in a competitive industry? There are more firms operating in the long run than in the short run because firms have more time to enter the industry. O Yearly profits are lower in the long run than in the short run. O The long run supply curve will tend to be more elastic than any short run supply curve. Yearly profits are higher in the long run than in the short run.A leftward shift of a product supply curve might be cause by O An improvement in the relevant technique of production O A decline in the prices of needed inputs O An increase in consumer income O Some firms leaving the industrySam's Club can sell identical items at a lower price than Macy's because of Sam's Club's: O government assistance. O lower average fixed costs. O higher variable costs. higher rent costs.