Suppose a firm decided to leave a high-cost/ high-tax state like California to reloacte to a low-cost / low-tox state like Nevada. They are doing this because they will be able to save 30 percent on the cost of their labor (employees) and becouse the Nevada state government is giving them generous state tax incentives for new machinery and free land. This decision would be a good example of economies of scale. (Telsa car battery factocy story)  True or False

Q: Economist of the Ville's Corporation has estimated the company's cost function using time series…

A: A monopoly is a market structure where a single seller (or a small group acting as one) has…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: Given: To Find: The short-run total cost if Ike's Bikes is currently producing 600 bikes: The…

Q: nswer the question on the basis of the following cost data. Average Fixed Average Variable Output…

A: The firms operating in a market incur two types of costs, fixed costs, and variable costs. Fixed…

Q: The long-run is a period of time long enough so that all inputs, including facility and equipment,…

A: PLEASE FIND THE ANSWER BELOW.

Q: (Figure: Market Power) Based on the demand curves for four sellers, which of the following firms has…

A: Answer (20): Part 1:  A firm in perfect competition has no market power and they are price takers.…

Q: Let F be the fixed cost of production, let VC be the variable cost of production, C be the total…

A: Cost curves are crucial tools for understanding and analyzing the cost framework for a firm's output…

Q: Explain the difference between increasing returns to scale and economies of scale. In what way are…

A: The aim of any firm to maximize the profits.  To maximize the profits firm has to increase the…

Q: Noah and Naomi want to produce 300 garden benches per week in two production plants. The cost…

A: The cumulative production across various production units is 300 units.The cost function in firm 1…

Q: Answer the question on the basis of the following cost data. Average Fixed Output Cost Average…

A: Total fixed cost is average fixed cost multiplied by the quantity of output produced. Total Fixed…

Q: Define the economies and diseconomies of scale and depict graphically how they relate to the long…

A: There are three types of returns to scale- Economies of scale The constant return to scale…

Q: 1/3 1/3 2. Earl sells lemonade in a competitive market on a busy street corner in Philadelphia. His…

A: Production function is the mathematical expression in economics that postulates the relationship…

Q: can you please provide teh full solution without any AI, can you show the mathematical working out…

A: step1:  step2:step3:

Q: State the relationship between average variable cost (AVC), and marginal cost (MC) when AVC is…

A: 1. AVC (Average variable cost) is decreasing, when the MC (Marginal cost) is less than AVC (Average…

Q: FarFlung make computer keyboards. They use both labour, L, and materials, M, in their production of…

A: Q = LM Q = 160,000 MPL = dQ/dL = M MPM = dQ/dM = L

Q: In recent years, the United States has experienced large increases in oil production due in large…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Rather than have all the tasks in a production setting being done by the same person, but by…

A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…

Q: 2.7 The concept of economies of scale refers to lower per- unit production costs at higher levels of…

A: The economies of scale is situation when producing more quantity of goods , the unit cost of…

Q: at the production function of a chip manufacturer is Q-KL-L'. K-200, then 1,245 -10,000

A: Marginal productivity of labor shows the change in output due to employment of an additional unit of…

Q: ) Suppose we have the following production function: Q=K2/312/3. Does the technology have onstant…

A: The production represents the relationship between output and inputs. The change in inputs lead to…

Q: Graphically show the relationship between the Avg. Variable Cost, Avg. Total Cost, and Marginal Cost…

A: Below is the formula: AVC = TVCQATC = TCQMC = TCn - TCn-1

Q: I remember from my omics classes that average ble cost (AVC) is equal to: can you tell me the…

A: The variable cost is $60 per worker a day. At 90 units of output (i.e. when 90 cars are washed in a…

Q: Consider the input output table below Table (Inter) final Total (Agric) (Manuf) (Mining)demand…

A: Given information

Q: How could you explain the difference between economies of scope and economies of scale?

A: Economies of scope and scale are concepts that relate to the cost of production of firms.  Economies…

Q: cies than smaller plants, there's no guaranty that they actually will. In fact, increasin. size…

A: SUMMARY OF GIVEN PARAGRAPH

Q: Question 14 A large enough avoidable fixed cost may lead to a firm producing O output as costs would…

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

Q: Consider the technology function f(z1,z2) = 2zk + zk. Suppose that w] = 64, that w2 = 52, and that…

A: With a given production function, a firm tries to minimize its total cost of production by choosing…

Q: 33. An economist analyses the long run costs of a firm. It is found that the marginal cost of…

A: Marginal cost is the total cost that increases when the quantity produced is increased, the cost of…

Q: Please correct answer and don't use hand rating

A: Step 1: Calculation of average total cost  We can calculate the average total cost using given…

Q: What is the difference between economies of scale andeconomies of scope? How do firms consider these…

A: The concepts of economies of scope and economies of scale explains the situations when the big firms…

Q: 2. With reference to Example 9.5.1, let R(Q) = 80Q and C(Q) = Q2 + 10Q + 900. The firm can produce…

A: Here we have to draw and analyse the profit maximizing output of the firm.The costs a company…

Q: Total Variable Cost Quantity of Output (Q) Total Cost (TC) (TVC) $__ $9 1 8. 19 4 11 --- 12 O $8 O…

A: The organizations in a market measure different types of costs, and they all are related to each…

Q: Fill in the missing parts in the following tables to illustrate the behavior of production and costs…

A: The total cost incurred by firms includes fixed costs and variable costs. Fixed costs are the costs…

Q: shows the long-run average costs for Inmode, a manufacturer of Internet modems. Quantity per Day…

A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…