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 69 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
YES! Correct, THANKS for helping me on my review

6ana001

  • Member
  • Posts: 311
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Gene duplication increases genetic complexity Gene duplication increases genetic complexity
Atmospheric pressure decreases as altitude increases. Atmospheric pressure decreases as altitude increases.
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ... Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ...
Solar output Solar output
Rapid sea level rise Rapid sea level rise
Video: Types of synapses - electrical & chemical

For a complete list of videos, visit our video library