Author Question: The following table provides information about the relationship between a firm's output and its ... (Read 40 times)

deesands · **on:** May 25, 2020

Question 1

The following diagram shows a firm's short-run cost curves.

It indicates that diminishing returns set in at point
◦ y.
◦ x.
◦ z.
◦ somewhere between points x and y.

Question 2

The following table provides information about the relationship between a firm's output and its factors of production in the short run:

Workers	Machines	Total Output
1	1	30
2	1	55
3	1	75
4	1	90
5	1	100

Which one of the following statements describes the situation in this firm?
◦ There are increasing marginal returns.
◦ There are increasing returns to scale.
◦ There are diminishing returns to scale.
◦ There are diminishing marginal returns.

ciecieme · **Reply #1 on:** May 25, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 29% of students answer this correctly