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 70 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
Wow, this really help

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

An intra-aortic balloon pump increases circulation to the coronary arteries and decreases the worklo An intra-aortic balloon pump increases circulation to the coronary arteries and decreases the worklo
Illustration of enterohepatic recirculation. Certain drugs are secreted into bile and eventually are ... Illustration of enterohepatic recirculation. Certain drugs are secreted into bile and eventually are ...
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
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 ...
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Video: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library