Answer:
D. slopes upward
Explanation:
if Judy experiences diseconomies of scale this means the return for adding further factor into the economy decreases. Therefore the marginal cost increase more than the marginal revenue from the added factor.
His average cost curve will shift upwards. Each time Judy adds equipment and workers his cost increase more than the previous worker or equipment.
<u>Resuming:</u>
Producing an additional units is more expensive than the previous unit therefore, the average cost increases through units output.
Answer: Marginal cost under demand and supply theory. Answer is 80
Explanation: QD 100-4P, Marginal Cost =S4,QS =6P -20. So
the calculation goes thus = QS=6p-20
Inputing Marginal value of 4 equates 100-4(4)
100-16 = 84
QS=6(4)-4
24-20=4
profit maximisation =QD-QS
84-4=80
Answer:
Bundle 1: Beer = 2; Pizza = 6
Bundle 2: Beer = 3; Pizza = 4
Bundle 3: Beer = 4; Pizza = 3
Bundle 4: Beer = 12; Pizza = 1
Explanation:
Given that;
Lisa utility function UF(X,Y) = 4XY
where;
X = beer
Y = Pizza
The utility level = 48
so, UF(X,Y) = 4XY
putting different values of X (i.e beer ) given to us in this equation, we can calculate the values of Y(i.e pizza) to fulfill the utility
So; when X (beer) = 2
48 = 4×2×Y
48 = 8Y
Y = 48/8
Y = 6
Thus, Bundle 1: Beer = 2; Pizza = 6
when X (beer) = 3
48 = 4×3×Y
48 = 12 Y
Y = 48/12
Y = 4
Thus; Bundle 2: Beer = 3; Pizza = 4
when X (beer) = 4
48 = 4×4×Y
48 = 16 Y
Y = 48/16
Y = 3
Thus; Bundle 3: Beer = 4; Pizza = 3
when X(beer) = 12
48 = 4×12×Y
48 = 48 Y
Y = 48/48
Y = 1
Thus; Bundle 4: Beer = 12; Pizza = 1
Consumer surplus drops when a good's price rises while keeping everything else constant.
<h3>What is consumer surplus ?</h3>
Consumer surplus is a financial estimate of the benefits that consumers receive from market competition. When customers pay less for a good or service than they would be willing to, this is known as consumer surplus.It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
In order to quantify the social advantages of public goods like national highways, canals, and bridges, the idea of consumer surplus was created in 1844. It has been a crucial tool for welfare economics research and government tax policy development.
To know more, consumer surplus, visit :
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