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Author Question: The following table provides information about the relationship between a firm's output and its ... (Read 66 times)

deesands

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on: May 25, 2020

Question 1

The following diagram shows a firm's short-run cost curves.

It indicates that diminishing returns set in at point
◦ y.
◦ x.
◦ z.
◦ somewhere between points x and y.

Question 2

The following table provides information about the relationship between a firm's output and its factors of production in the short run:

WorkersMachinesTotal Output
11 30
21 55
31 75
41 90
51100
Which one of the following statements describes the situation in this firm?
◦ There are increasing marginal returns.
◦ There are increasing returns to scale.
◦ There are diminishing returns to scale.
◦ There are diminishing marginal returns.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by deesands on May 25, 2020

ciecieme

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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deesands

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

juliaf

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Reply 3 on: Yesterday
Excellent

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