Differentiate between returns to factor and returns to scale, Business Economics

Assignment Help:

QUESTION

a) Differentiate between returns to factor and returns to scale.

b) In the long-run the Average Cost Curve is u-shaped. Discuss

c) Whenever a firm is making losses it should close down. Do you agree with this statement? You may use mathematical examples to illustrate your answer.

d) Discuss how resource allocation is dictated by consumers' preferences in the market place.


Related Discussions:- Differentiate between returns to factor and returns to scale

What is the function of non-government organisations, What is the function ...

What is the function of Non-Government Organisations, within the promotion of development? Advocates argue NGOs (Non-Government Organisations): • Hold DCs accountable for e

What are the factors of the economic sectors, What are the factors of the e...

What are the factors of the economic sectors? The factors of the economic sectors: • Primary sector including natural resources as like agriculture, fishing, quarrying minin

Marginal utility and consumer behaviour, how can a community having water ...

how can a community having water shortages issues be resolved using marginal utility and consumer behaviour

What are the characteristics of the informal sector, What are the character...

What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent

Find the median voter eqm, In the model with utilities W i = c i + α l...

In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r

Condition of covered interest parity, (a) Suppose that the British Pound is...

(a) Suppose that the British Pound is quoted at $1.4419-36 and the Swiss Franc is quoted at $0.6250-67. What is the direct quote for the British Pound in Zurich? Note that a direct

Intro to business, Marketing is impacted by influences outside the business...

Marketing is impacted by influences outside the business control that constrain the organizations ability to manipulate its marketing mix. These environmental included (a) competi

PRODUCTION, Importance of production.

Importance of production.

What is the infant industry argument, What is the Infant Industry argument?...

What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b

Determine the best response functions of the firm, 1. Consider the market w...

1. Consider the market where there is product differentiation with two firms. The firms are choosing prices p1 and p2 and have demands given by q1 = 40 - 0.5 p1 + p2 q2 = 60

Write Your Message!

Captcha
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