Microeconomics

The figure above shows a firm's total product curve. Which of the points show efficient production points?

Started by Cooldude101

The graph shows long run costs for a firm. The firm experiences economies of scale

Started by leilurhhh

Consider a Wal-Mart supercenter and a 7-Eleven store. In the long run,

Started by Arii_bell

Economies of scale and diseconomies of scale explain

Started by erika

A firm's long-run average cost curve shows the ________ average cost at which it is possible to ...

Started by plus1

In the long run, constant returns to scale necessarily occur when the firm increases its production ...

Started by jc611

When the long-run average cost curve is downward sloping,

Started by mia

If a company triples its output and its average cost decreases, then the firm is definitely experiencing

Started by kfurse

What does the long-run average cost curve show?

Started by FButt

When a firm becomes so large it is difficult to coordinate and control, it is most likely that

Started by joesmith1212

A firm decreases its scale of operation and discovers that its long-run average costs decrease. ...

Started by Lobcity

In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of ...

Started by yoooooman

The main sources of economies of scale are

Started by bclement10

If a firm increases its output and its average cost decreases, the firm is experiencing which of the ...

Started by mcmcdaniel

One of the major reasons for the U-shaped average total cost curve is the fact that

Started by student77

To produce 10 shirts, the total cost is $80; to produce 11 shirts, the total cost is $99. The ...

Started by vHAUNG6011

Jay set up his hot dog stand near the business district. His total variable cost includes the

Started by B

An increase in the price of labor (a variable resource) shifts

Started by beccaep

Cost curves shift if i.technology changes.ii.the prices of factors of production ...

Started by nenivikky

If we know the amount of total cost, average total cost, average variable cost, and marginal cost ...

Started by skymedlock

When the marginal product is increasing as the quantity increases, then as the quantity increases the

Started by jhjkgdfhk

If another worker is hired with a marginal product greater than the previously hired worker, which ...

Started by wrbasek0

If marginal cost increases when output increases, then

Started by soccerdreamer_17

The relationship between the MP and MC curves is

Started by Alygatorr01285

The marginal cost curve is U-shaped. Over the range of output for which the marginal cost is falling ...

Started by Caiter2013