Economies of mass production

Assignment Help Business Economics
Reference no: EM131097132

You read a story in the newspaper about the "economies of mass production." This means that Select one: a. long-run average cost is less at larger levels of production. b. fixed cost is less at larger levels of production. c. total cost is less at larger levels of production. d. marginal cost is less at larger levels of production.

Reference no: EM131097132

Questions Cloud

Two nations have different policy options at their disposal : In recent years, both the United States and Greece have experienced increases in government debt and a significant economic downturn. In what ways were the two situations similar? In what ways were they different? Why did the two nations have differe..
Long-run equilibrium for perfectly competitive firm : Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm?
Assume that for particular demand curve : Assume that for a particular demand curve, when price is $60, quantity demanded is 130, and when price is $50, quantity demanded is 175. without calculating the coefficient of elasticity, is demand over this range elastic or inelastic? How do you kno..
Increase in the money supply-comparing the two cases : Let the consumption function depend positively on disposable income and negatively on the interest rate. Provide the economic intuition behind this assumption. Draw a IS/LM graph with the normal IS curve as well as the IS curve with this modified con..
Economies of mass production : You read a story in the newspaper about the "economies of mass production."
Consider the taco stands on state street : Consider the taco stands on State Street. Suppose that the taco market on State Street is a perfect competitive market, where all taco stands are exactly the same (i.e. producing the exact same tacos and having the exact same cost features). The mark..
Firm expansion path-what is long-run total cost : The following is a firm's expansion path. The price of capital is $5 per unit; the price of labor is $2 per unit. Units of Output Units of Capital Units of Labor 10 6 5 20 8 10 30 13 20 When output is 30 units, what is long-run total cost?
Monopoly price-quantity-consumer surplus and profit : Suppose the market demand function is given by: Q = 100 - 2P , where Q: total quantity, P: market price. And in this market there are two firms with MC=AV=$10. Find each of the following: Perfect competition price, quantity, and consumer surplus? Mon..
Causes and consequences of near zero interest rates : Analyse the causes and consequences of near zero interest rates in the USA since 2008. In theory, what impact should this policy have had on the value of the US dollar? Explain why this hasn't necessarily been the case over the last seven years.

Reviews

Write a Review

Business Economics Questions & Answers

  College education is far too expensive for students

The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided.

  How to compute implicit explcit and opportunity costs.

how to compute implicit explcit and opportunity costs. jamal has a flexible job. he can work everyday but is allowed to take a day off anytime he wants.

  What production level are scale economies exhausted

Some estimates for the cement industry suggest the following relationship between capacity and average cost: Capacity (thousands of tons: 250 500 750 1000 1,250 1,500 1,750 2,000 Average Cost: 28.78 25.73 23.63 21.63 21.00 20.75 20.95 21.50. Assume t..

  What is the equation for national saving

What is the equation for national saving? Calculate the equilibrium interest rate, aggregate level of investment in the economy, and the aggregate level of national saving. Illustrate in a diagram.

  Justifications for government intervention in the economy

What are the four reasons or justifications for government intervention in the economy? Describe two in details, providing an example of each.

  Discuss the importance of westward expansion

Discuss the importance of westward expansion since 1800.What were some of the key land acquisitions, and how was expansion carried out? What was federal policy towards Native Americans and Mexico, and how did it factor into expansion? Finally, what i..

  Senator using to argue for trade restriction on steel rods

Suppose there is a policy debate regarding the United States’ imposing trade restrictions on imported steel rods: A senator from a state with several steel-rod factories explains that it is necessary to impose trade restrictions, such as a tariff, on..

  Suppose a competitive market consists of identical firms

Suppose a competitive market consists of identical firms with a constant longrun marginal cost of $10. (There are no fixed costs in the long run.) Suppose the demand curve at any price, P, is given by Q = 1000 ? P.

  Difficult problems of party politics and slavery

How did Jeffersonians deal with the difficult problems of party politics and slavery? Additionally, discuss the achievements and disappointments of the Jefferson Administration. Would you consider Jefferson one of our greatest presidents why or why n..

  Inflation is not result but cause of monetary emission

Inflation is not the result but the cause of monetary emission. As there's inflation (because of other reasons not important here), people need more money and the central bank needs to print more money. How can you argue against that? As it seems to ..

  Q1 a in recent years abc company has requested the services

q1. a. in recent years abc company has requested the services listed below from blazo economic an economic

  Discuss use sources from the itt tech virtual library ad

Review the discussion in the lesson regarding the financial crisis. Discuss each of the following points. Use sources from the ITT Tech Virtual Library to add to your answer.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd