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 34 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

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Atmospheric pressure decreases as altitude increases. Atmospheric pressure decreases as altitude increases.
Spirituality increases with age, but there are different patterns for the two genders. Both genders ... Spirituality increases with age, but there are different patterns for the two genders. Both genders ...
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Inferring Productivity from Data on Output and Factor Accumulation Inferring Productivity from Data on Output and Factor Accumulation
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Video: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library