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Production and Costs
Page 2
Questions (62)
A factory produces two products A and B using raw materials p and q. It uses 3 units of p and 1 unit of q to produce one unit of
2 answers
asked by
maths
485 views
2. Suppose that the average product of labor increases as more workers are hired. Which of the following must be true?
a.
3 answers
asked by
mike
476 views
At a local bakery, the head baker is
contemplating whether to produce an extra batch of chocolate chip cookies. After calculating
1 answer
asked anonymously
15 views
When a firm is producing at the level of output that maximizes profit, which of the following true? (1 point)
A.• Marginal cost
1 answer
asked anonymously
38 views
Use the table to answer the question.
Number of Workers Output Total Cost Fixed Cost Variable Cost 1 20 $300 $250 $50 2 35 $352
1 answer
asked anonymously
89 views
What is meant by the law of diminishing returns
1 answer
asked anonymously
28 views
Law of diminishing marginal product of capital
1 answer
asked anonymously
9 views
Suppose a company increases production from a point where marginal cost equals average total cost to a point where marginal
1 answer
asked anonymously
15 views
When a total output curve is falling, its corresponding marginal product curve is:
vertical. horizontal. rising. falling.
1 answer
asked anonymously
8 views
f the market price is R5 and you are currently producing at a level where average total cost is R3 and falling, you should:
b or
1 answer
asked anonymously
9 views
When choosing the production level for tomorrow you find that at an output of 100 units, the total variable costs are R20,000
1 answer
asked anonymously
14 views
A country can use all its resources to produce Product A and Product B. If you know the opportunity cost of producing Product A
5 answers
asked anonymously
9 views
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Parent Categories (5)
Business and Economics
Economics
Macroeconomics
Manufacturing
Microeconomics