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

Author Question: Although capital is a variable factor in the long run, once chosen, it often becomes a fixed factor ... (Read 18 times)

xman15.

  • Full Member
  • ***
  • Posts: 155
on: Oct 12, 2022

Question 1

A very-long-run consideration that could change a firm's production function is
◦ diminishing returns.
◦ an improvement in education that increases the quality of the economy's labour force.
◦ increasing returns to scale of operation.
◦ size of the plant.
◦ rising cost of the factors of production.

Question 2

Although capital is a variable factor in the long run, once chosen, it often becomes a fixed factor for a long time. A profit-maximizing firm must therefore select a method of production that is
◦ economically efficient at current factor prices and sufficiently flexible to adapt to changing factor prices over time.
◦ economically efficient at current factor prices.
◦ technologically advanced beyond methods currently used.
◦ adaptable to wide ranges of output over time.
◦ labour intensive, as labour is always a variable factor.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by xman15. on Oct 12, 2022

feiojef

  • Full Member
  • ***
  • Posts: 172
Reply #1 on: Oct 12, 2022
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.
Answer Preview
Only 25% of students answer this correctly


xman15.

  • Member
  • Posts: 155
Reply 2 on: Oct 12, 2022
Excellent

ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
Feng Mengbo, Long March: Restart. Feng Mengbo, Long March: Restart.
Negative feedback control of a regulated variable. Negative feedback control of a regulated variable.
Long-range forecasts Long-range forecasts
A very thin uniform rod, 2.40 m long and of weight 135 N, has a frictionless hinge at its lower ... A very thin uniform rod, 2.40 m long and of weight 135 N, has a frictionless hinge at its lower ...
A reciprocal translocation involving the long arms of chromosomes A reciprocal translocation involving the long arms of chromosomes
Video: Interview with an Anorexic Woman (Part 2 of 2)

For a complete list of videos, visit our video library