True or false: explain your answer. diminishing returns and decreasing returns to scale are two names...
True or false: explain your answer. diminishing returns and decreasing returns to scale are two names for the same idea
Homework Answers
Answer
False
Diminishing return is a short run concept. It shows that the increase in input increases output at a lower level than the last input because some inputs are fixed.
Decreasing return to scale is a long run concept where all inputs are variable and the increase in all inputs by the same time increases output less than the inputs increased.
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True or false: explain your answer. diminishing returns and
decreasing returns to scale are two names...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products...
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
True or false? Explain. It is possible to have decreasing marginal products for all inputs, and...
True or false? Explain. It is possible to have decreasing marginal products for all inputs, and yet have increasing returns to scale
True False-Ambiguous and Explain why 4. The data demonstrate economies of scale and the law of...
True False-Ambiguous and Explain why 4. The data demonstrate economies of scale and the law of diminishing returns. L Q 0 0 3 100 5 200 6 300 8 400 12 500
True or False: Diminishing returns will occur when investing in the same TQM Initiative round after...
True or False: Diminishing returns will occur when investing in the same TQM Initiative round after round. A. True B. False True or False: According to the S-Shaped curve, diminishing returns for a single year budget become noticeable at $2,000,000 A. True B. False True or False: If a company with low automation wanted to invest in a single area that exclusively lowers labor costs, they would select QIT (Quality Initiative Training). A. True B. False True or False: The...
What is the difference between "diminishing marginal returns" and "diseconomies of scale"? a. Both concepts explain...
What is the difference between "diminishing marginal returns" and "diseconomies of scale"? a. Both concepts explain why marginal cost increases after some point but diminishing marginal returns applies only in the short run when there is at least one fixed factor, while diseconomies of scale applies in the long run when all factors are variable. b. Both concepts explain why average total cost increases after some point but diminishing marginal returns applies only in the short run when there is...
The production function exhibits Q=4L1/3K3/4. Which of the following statements is (are) FALSE? ОО A. diminishing...
The production function exhibits Q=4L1/3K3/4. Which of the following statements is (are) FALSE? ОО A. diminishing returns to labor. B. diminishing returns to capital. C. decreasing returns to scale. D. none of the above
True or False? Explain your answer. In the presence of dynamic increasing returns, a country can...
True or False? Explain your answer. In the presence of dynamic increasing returns, a country can be potentially better-off by closing its borders to international trade. According to Standard Trade model, imposing a tariff will always make a country better off.
A firm is currently producing an amount of output for which they have diminishing total returns....
A firm is currently producing an amount of output for which they have diminishing total returns. True or False and explain: This firm is not maximizing profit.
Exercise 5 Cobb-Douglas and Decreasing Returns to Scale (Farming) Exercise 5. Cobb-Douglas and Decreasing Returns to...
Exercise 5 Cobb-Douglas and Decreasing Returns to Scale
(Farming)
Exercise 5. Cobb-Douglas and Decreasing Returns to Scale (Farming) There are over 2 million farms in the United States, covering almost a billion acres of agricultural land. Consider farming output, y (measuring thousand bushels of corn), as a function of short-term factors, such as water, fertilizer, seeds, considered as a composite input, X, and land as a long-term factor, L. Both are necessary, and they each present diminishing marginal returns. Assume...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
True False-Ambiguous and Explain why 4. The data demonstrate economies of scale and the law of diminishing returns. L Q 0 0 3 100 5 200 6 300 8 400 12 500
True or False: Diminishing returns will occur when investing in the same TQM Initiative round after round. A. True B. False True or False: According to the S-Shaped curve, diminishing returns for a single year budget become noticeable at $2,000,000 A. True B. False True or False: If a company with low automation wanted to invest in a single area that exclusively lowers labor costs, they would select QIT (Quality Initiative Training). A. True B. False True or False: The...
The production function exhibits Q=4L1/3K3/4. Which of the following statements is (are) FALSE? ОО A. diminishing returns to labor. B. diminishing returns to capital. C. decreasing returns to scale. D. none of the above
Exercise 5 Cobb-Douglas and Decreasing Returns to Scale
(Farming)
Exercise 5. Cobb-Douglas and Decreasing Returns to Scale (Farming) There are over 2 million farms in the United States, covering almost a billion acres of agricultural land. Consider farming output, y (measuring thousand bushels of corn), as a function of short-term factors, such as water, fertilizer, seeds, considered as a composite input, X, and land as a long-term factor, L. Both are necessary, and they each present diminishing marginal returns. Assume...
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