Homework Answers
1. In the following cases productivity can be improved :
producing more output using the same input resources.
producing the same output using fewer input resources.
2. Marginal analysis compares marginal benefits and marginal costs to determine the optiman outcome or choice.
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Question 10 In which of the following cases is productive...
1) In which of the following cases is productive efficiency improved? Select all that apply: a)...
1) In which of the following cases is productive efficiency improved? Select all that apply: a) producing more output using the same input resources b) producing less output using the same input resources c) producing the same output using fewer input resources d) producing the same output using more input resources 2) Which of the following are true about productive efficiency? I. All available resources are employed in production. II. Workers are well-paid. III. Points on the PPF curve are...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold in Germany. Today, hewever, Germany both experts and imports watches, How could comparative advantage explain these data? The law of diminishing returns states that as additional increments of resources those additional increments_ the marginal bene it from Select the correct answer below Select the correct answer below: It cannot: comparative advantage predicts that a country either exports a product or imports it, not both...
Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outcome or choice....
Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outcome or choice. Select the correct answer below Select the correct answer below: O total benefits, total costs O total benefits, marginal costs O marginal benefits, total costs O marginal benefits, marginal costs Question 2 O the additional satisfaction produced as the fim adds one additional unit of an inpurt O the additional satisfaction that a consumer derives from consuming one additional unit of a good O...
8. , which of the following statements is (are) correct? (x) The marginal cost of the...
8. , which of the following statements is (are) correct? (x) The marginal cost of the fifth unit equals the variable cost of five units minus the variable cost of four units (y) The variable cost of 50 units equals the average variable cost of 50 units times 50. (z) If marginal cost is rising, then average variable cost is rising if marginal cost exceeds average variable cost. A. (x), (y) and (z) B. (x) and (y) only C. (x)...
Question 22 On the chart below the environment case for the Jones company can be observed....
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
please answer all Question 22 2.5 pts Which of the following will not cause the supply...
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
i need answers with why? thank you 1) Which of the following is true of equilibrium?...
i need answers with why? thank you 1) Which of the following is true of equilibrium? A)Equilibrium refers to a situation where the government allocates resources among economic agents. B) Equilibrium refers to a situation where an economic agent can be made better off without making anyone else worse off. C)Equilibrium refers to a situation where all econom ic agents simultaneously optimize after considering each other’s actions. D)Equilibrium refers to a situation where all economic agents are making sub-optimal choices...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
erences Mailings Review View Help Tell me what you want to do 1. Which of the...
erences Mailings Review View Help Tell me what you want to do 1. Which of the following is true before a firm has reached the point of diminishing returns? a) marginal product is negative b) marginal product is rising, but still positive c) average product is declining d) average product may be rising or declining e) both a) and c) are correct 2. Whenever the slope of the total product curve is increasing at an increasing rate, the marginal product...
Question 1 McDonalds buying a beef farm is an example of Horizontal integration Economies of scale...
Question 1 McDonalds buying a beef farm is an example of Horizontal integration Economies of scale Vertical integration Economies of scope ---- Question 2 Firms sometimes experience diseconomies of scale when they grow too large. Which of the following can cause diseconomies of scale? Please select all that apply. Specialised resources spread too thin Lower wages and unionisation Communication difficulties in large organisations Increase in capital for workers to use ---- Question 3 Traditional economics assumes firms are a coalition...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold in Germany. Today, hewever, Germany both experts and imports watches, How could comparative advantage explain these data? The law of diminishing returns states that as additional increments of resources those additional increments_ the marginal bene it from Select the correct answer below Select the correct answer below: It cannot: comparative advantage predicts that a country either exports a product or imports it, not both...
Question1 Question 4 Marginal utility is Marginal analysis compares to determine the optimal outcome or choice. Select the correct answer below Select the correct answer below: O total benefits, total costs O total benefits, marginal costs O marginal benefits, total costs O marginal benefits, marginal costs Question 2 O the additional satisfaction produced as the fim adds one additional unit of an inpurt O the additional satisfaction that a consumer derives from consuming one additional unit of a good O...
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
erences Mailings Review View Help Tell me what you want to do 1. Which of the following is true before a firm has reached the point of diminishing returns? a) marginal product is negative b) marginal product is rising, but still positive c) average product is declining d) average product may be rising or declining e) both a) and c) are correct 2. Whenever the slope of the total product curve is increasing at an increasing rate, the marginal product...
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