1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
worty [1.4K]
3 years ago
15

The law of diminishing marginal returnsa. explains why the average total cost, average fixed cost and marginal cost curves are U

-shaped in the short runb. causes average total costs to rise at a decreasing rate as output increasesc. explains why the average total cost and marginal cost curves are U-shaped in the short rund. causes the difference between average total cost and average variable cost to get smaller as output increases
Business
1 answer:
Novosadov [1.4K]3 years ago
8 0

Answer:

c) explains why the average total cost and marginal cost curves are U-shaped in the short run.

Explanation:

According to the law of diminishing returns, when one input variable is increased, the result is seen in the increase in the output. At some point in the production, when an additional factor is added, the output increases but in smaller return. One factor remains fixed in the process of diminishing return. The variable factor is increased at any point of production which do not prove much productive.

You might be interested in
What is the first step in consumer decisions-making process?
Elodia [21]
Consumer decision making is a process that has 5 steps. The first step is the consumer recognition of the need they need to satisfy. It is termed as the basic step since one cannot look for money to satisfy a need that they have not first recognized. 
8 0
3 years ago
Garcia company has 10,000 units of its product that were produced last year at a total cost of $150,000. the units were damaged
timurjin [86]

Answer and Explanation:

The computation of the incremental net income is shown below:

<u>Particulars    Sell          Process Further      Incremental Net income </u>

Sales        $20,000.00    $50,000.00        $30,000.00

          (10,000 units × $2)  (10,000 × $5)

Less:

Additional

Processing cost                 $18,000.00          $18,000.00

Total        $20,000.00      $32,000.00          $12,000.00

4 0
3 years ago
Consider a hypothetical economy in which the marginal propensity to consume (MPC) is 0.50. That is, if disposable income increas
evablogger [386]

Answer:

The level of saving =  $450 billion - $400 billion= $50 billion

Marginal propensity to save = 1- marginal propensity to consume (MPC)=0.5

Expected consumption

MPC=  change in Consumption/ change in income 200 billion * 0.5 = $100billion

Therefore consumption = 100 billion + 400 billion = $500 billion

Saving = $650 billion - $500 billion=  $ 150 billion

Explanation:

4 0
3 years ago
uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost for
OLga [1]

Answer:

$11,026 Favorable

Explanation:

The computation of the  spending variance for plane operating costs in November is shown below:

= Budgeted cost -  Actual cost

= [(84 × $3,160) + (252 × $18) + $593,00] - $318,250

= $329,276 - $318,250

= $11,026 Favorable

5 0
3 years ago
Economic cost can best be defined as_____________.
Maksim231197 [3]

Answer:

The correct answer is letter "C": the income the firm must provide to resource suppliers to attract resources from alternative uses.

Explanation:

Economic costs represent payments to suppliers a firm makes to obtain and keep the services of a given resource. Besides, economic costs consider the benefits and costs of selecting one choice over another. Then, economic costs analyze the opportunity cost of choosing one resource for production compared to others.

8 0
3 years ago
Other questions:
  • A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, they purchased 10 units at $13 per unit. On
    12·1 answer
  • How many pounds of lima beans that cost $0.90 per pound must be mixed with 16 pounds of corn that cost o.50 per pound to make a
    5·2 answers
  • Triangle owl was rotated to create triangle o'w'l'. describe the transformation using details and degrees. triangles owl and o p
    8·2 answers
  • Which of the following would be considered unemployed? a. Mark, laid off from his job as a bricklayer, returned to school full-t
    8·1 answer
  • Which of the following accounts could be found in the PQ partnership's general ledger?I. Due from PII. P, DrawingIII. Loan Payab
    13·1 answer
  • Explain how the employer promotes the health and safety of employees to minimise the risk of contracting the corona virus
    6·1 answer
  • Imagine you are applying for a job, and explain how you would be a good candidate based on your experience
    5·1 answer
  • Write five advantages of multinational company​
    14·1 answer
  • The common characteristic possessed by all assets is:_________.
    8·1 answer
  • The u.s. small business association defines a small business as having ____ employees and selling ______ worth of products or se
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!