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 156 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
YES! Correct, THANKS for helping me on my review

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Spinal cord—levels of injury; A, areas of sensory function (dermatomes); B, areas of motor function. Spinal cord—levels of injury; A, areas of sensory function (dermatomes); B, areas of motor function.
Diverticulosis. It is the presence of abnormal pouches in the wall of the large intestine (diverticu Diverticulosis. It is the presence of abnormal pouches in the wall of the large intestine (diverticu
Examples of the most common X-ray positions and the images they produce. Examples of the most common X-ray positions and the images they produce.
The production of electricity from coal is inefficient The production of electricity from coal is inefficient
Consider a two-period economy with no investment opportunities: first and second period output ... Consider a two-period economy with no investment opportunities: first and second period output ...
A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library