« previous next »

Author Question: When there are economies of scale, a. per-unit costs increase as output increases b. per-unit ... (Read 103 times)

LaDunn

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
When there are economies of scale,
 a. per-unit costs increase as output increases
  b. per-unit costs decrease as output increases
  c. per-unit costs are constant as output increases
  d. output does not affect per-unit costs

Question 2

A linear demand for lake front cabins on a nearby lake is estimated to be: QD = 900,000 - 2P. What is the point price elasticity for lake front cabins at a price of P = 300,000? HINT: Ep = (Q/P)(P/Q)
 a. EP = -3.0
  b. EP = -2.0
  c. EP = -1.0
  d. EP = -0.5
  e. EP = 0


mariahkathleeen

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation. Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
Students rated their grandparents on a scale from 1 to 4 based on emotional closeness, time spent ... Students rated their grandparents on a scale from 1 to 4 based on emotional closeness, time spent ...
How to convert one unit of measurement to another unit (Part 1) How to convert one unit of measurement to another unit (Part 1)
Role of Factors of Production in Determining Output per Worker, 2009 Role of Factors of Production in Determining Output per Worker, 2009
The Geologic Time Scale The Geologic Time Scale
How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ... How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ...
Video: Photosynthesis and Van Helmont Experiment

For a complete list of videos, visit our video library