This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why does marginal cost eventually rise as output increases? What will be an ideal ... (Read 33 times)

newyorker26

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
Why does marginal cost eventually rise as output increases?
 
  What will be an ideal response?

Question 2

What is meant by the term economic growth?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anna

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal cost eventually rises as output increases because of diminishing returns. If each additional unit of a variable input adds less and less to total output, it must require more of that variable input to produce each additional unit of output. This means that each additional unit of output must cost more to produce.

Answer to Question 2

Economic growth occurs when the total output in an economy increases.


newyorker26

  • Member
  • Posts: 536
Reply 2 on: Jun 29, 2018
:D TYSM

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
Running time on 100-meter sprint for men and women master athletes increases with age. Source: Korho Running time on 100-meter sprint for men and women master athletes increases with age. Source: Korho
What's Your BMI? As your BMI increases, you are more likely to be overweight or obese What's Your BMI? As your BMI increases, you are more likely to be overweight or obese
Inferring Productivity from Data on Output and Factor Accumulation Inferring Productivity from Data on Output and Factor Accumulation
The Rise and Fall of Separation Anxiety The Rise and Fall of Separation Anxiety
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library