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

Author Question: The production function shows: a. the total cost incurred to produce a certain level of output. b. ... (Read 128 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
on: Jun 30, 2018
The production function shows:
 a. the total cost incurred to produce a certain level of output.
  b. the changes in cost incurred as output level varies.
  c. the relationship between inputs used and output produced.
  d. the impact of a change in production on the firm's revenues.

Question 2

The entry of new firms into an industry lowers the economic profit of the existing firms.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pocatato

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

True


tichca

  • Member
  • Posts: 554
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

CAPTAINAMERICA

  • Member
  • Posts: 325
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
How to find the critical numbers of a function How to find the critical numbers of a function
How to approximate the area of a function using midpoints How to approximate the area of a function using midpoints
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
What is the total number of valence electrons in a silicate ion, SiO32-? What is the total number of valence electrons in a silicate ion, SiO32-?
The large, white flowers of giant saguaro cactus (Carnegiea gigantea) produce sweet nectar. The flow The large, white flowers of giant saguaro cactus (Carnegiea gigantea) produce sweet nectar. The flow
Video: TRH/TSH/Thyroid hormone

For a complete list of videos, visit our video library