« previous next »

Author Question: Suppose Toyota produces 100,000 cars per year at its California plant at an average cost of 6,000 ... (Read 59 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Suppose Toyota produces 100,000 cars per year at its California plant at an average cost of 6,000 and it doubles output and total costs by building an identical plant in Kentucky. Toyota has exhibited
 a. diminishing marginal returns
  b. economies of scale
  c. constant average costs
  d. an upward-sloping planning curve
  e. production inefficiency

Question 2

Diseconomies of scale are pictured on a graph by the upward-sloping portion of the
 a. marginal product curve
  b. short-run marginal cost curve
  c. long-run marginal cost curve
  d. short-run average cost curve
  e. long-run average cost curve


tranoy

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

The average adult has about 21 square feet of skin.

Plant adaptations for salty conditions. Plant adaptations for salty conditions.
Plant Plant
Organization of plant cell walls Organization of plant cell walls
Types of ecosystem service vs. total global value per year Types of ecosystem service vs. total global value per year
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library