You are watching: Which of the following best expresses the law of diminishing returns?
As succeeding amounts of one reresource (labor) are added to addressed amounts of other sources (capital), past some allude the resulting extra or marginal output will decrease.
If a variable input is included to some resolved input, past some suggest the resulting additional output will decrease. This statement describes
Other points equal, if the addressed expenses of a firm were to rise by $100,000 per year, which of the following would happen?
If a firm wanted to know how much it would certainly conserve by creating one much less unit of output, it would look to
TVC will rise for a time at a diminishing price, but then beyond some point will rise at a raising rate.
n the brief run the Sure-Screen T-Shirt Company kind of is producing 500 units of output. Its average variable expenses are $2.00 and its average solved costs are $.50. The firm"s complete costs:
Due to the fact that the marginal product of a variable reresource at first rises and also then decreases as the output of the firm is increased
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change through output as shown in the accompanying table. Use this indevelopment to answer the complying with question.Refer to the indevelopment. The total cost of developing 3 devices of output is:
The ABC Corporation decreases all of its inputs by 12 percent and finds that its output drops by just 8 percent. This indicates that initially it was producing:
An sector consisted of of a very huge number of sellers producing a standardized product is well-known as:
If a firm in a pudepend competitive market is confronted via an equilibrium price of $5, its marginal revenue:
The demand curve in a pudepend competitive sector is ______, while the demand curve to a solitary firm in that sector is ______.
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If a firm is confronted with economic losses in the brief run, it will certainly decide whether or not to develop by comparing:
An market made up of 40 firms, namong which has actually even more than 3 percent of the total sector for a identified product, is an instance of:
An market made up of a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called:monopolistic competition.
A monopolistically competitive market combines facets of both competition and monopoly. It is correct to say that the competitive aspect outcomes from:
A firm finds that at its MR = MC= output (Q= 10 units), its ATC = $100, AVC = $80, AFC = $9, and total revenue is $900. This firm should: