I need help with econ multiple hw questions asap!52) Why are long-run average-total-cost curves often U-shaped? A. because of constant returns to scale B. because of increasing coordination problems at low levels of production and increasing specialization of workers at high levels of production C. for the same reasons that short-run average-total-cost curves have the identical U-shape D. because of increasing specialization of workers at low levels of production and increasing coordination problems at high levels of production51) What does diminishing marginal product imply? A. The marginal product of an extra worker is less than the previous worker’s marginal product. B. The marginal product of an extra worker is greater than the previous worker’s marginal product. C. The marginal cost of an extra worker is unchanged. D. The marginal cost of an extra worker is less than the previous worker’s marginal cost.

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Answered: 52) Why are long-run average-total-cost…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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I need help with econ multiple hw questions asap!

52) Why are long-run average-total-cost curves often U-shaped?

A. because of constant returns to scale
B. because of increasing coordination problems at low levels of production and increasing specialization of workers at high levels of production
C. for the same reasons that short-run average-total-cost curves have the identical U-shape
D. because of increasing specialization of workers at low levels of production and increasing coordination problems at high levels of production

51) What does diminishing marginal product imply?

A. The marginal product of an extra worker is less than the previous worker’s marginal product.
B. The marginal product of an extra worker is greater than the previous worker’s marginal product.
C. The marginal cost of an extra worker is unchanged.
D. The marginal cost of an extra worker is less than the previous worker’s marginal cost.

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