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 154 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

carojassy25

  • Member
  • Posts: 299
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Does this child have legs of different lengths or scoliosis? Look at the level of the iliac crests a Does this child have legs of different lengths or scoliosis? Look at the level of the iliac crests a
Effect of Stress on Immune Function Effect of Stress on Immune Function
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Derivative of Inverse Trig Function Derivative of Inverse Trig Function
Video: Stroke volume - preload, sarcomere length and Frank -Starling law

For a complete list of videos, visit our video library