A firm supply curve is upsloping because:         the expansion of production necessitates the use of qualitatively                 inferior inputs.        mass production economies are associated with larger levels of                   output.        consumers envision a positive relationship between price and quality.        beyond some point the production costs of additional units of output         will rise.

Q: The supply function for a product is Qs=2P - 14. while the demand function for the same product is…

A: ANSWER MARKETING EQUILIRIUM IS THE ACTUAL PRICE IN WHICH WORLD IS BALANCING ACT BETWEEN  SUPPLY AND…

Q: Q: determine whether the following statements are true or false: a) Average fixed costs increase…

A: Fixed cost(FC) do not change in the short run regardless of the volume produced or sold. Market…

Q: For the pizza seller whose marginal, average variable, and average total cost curves are shown in…

A: 1.) When the price is $1.50 per slice, the profit-maximizing level of output is 450 slices per…

Q: A supply curve which is partaken to the horizontal axis suggests that

A: The markets are the place where the buyers, or the consumers interact, and meet with the sellers.…

Q: Each point of a firm's supply curve represents a price-quantity pair where: Multiple Choice МС %3…

A: In a time period elapsing short-run , a firm's cost of production has two major components : fixed…

Q: Assuming that Pepsi-Cola and Coca-Cola are substitutes, a rise in the price of Pepsi-Cola, other…

A: Substitutes are those goods that are consumed in place of each other as each of them provides almost…

Q: The estimated supply function for avocados is Q = 6 + p/3 - 3f, where f is the price of fertilizer.…

A: Given: Q=6+p/3-3f Where, f=price of fertilizer Note: Due to multiple questions being posted, the…

Q: Assume the following demand curve: Q = 50,400 1,200(P). Variable costs are estimated to be $25.23.…

A: optimal quantity is the quantity where the marginal revenue is equal to marginal cost. Total revenue…

Q: A supply curve for tomato production is given by Q = 35P - 5. Something causes the supply curve to…

A: Supply curve shows how much quantity is supplied by firms at a given price level.

Q: Which of the following are reasons for producing additional units, which will increase ending…

A: This is the concept that refers to the stock of products that are complete and ready for sale. After…

Q: If a new technology doubles the production of workers as well as the level of production output,…

A: The cost of production implies the expenses incurred by a firm or producer when manufacturing goods…

Q: If Y = F(K, N) = 2K + 5N, there are ___ returns to scale. decreasing increasing constant

A: Returns to scale posits the relationship between the input and output in proportionate term. The…

Q: Allocative efficiency is achieved when the production of a good occurs where Multiple Choice

A: When a market is able to distribute goods and services to all of the potential customers in the…

Q: Which of the following statements is the least likely to be true? A) Automation requiring…

A: Automation alludes to the course of naturally delivering products using robots, control frameworks…

Q: The market supply curve is a vertical summation of individual supply curves.

A: The market supply curve is a macro economic concept which justifies individual producers on the…

Q: Which of the following would reduce the supply of microcomputers?     a technological improvement…

A: Supply is an upward sloping curve, showing how much quantity is supplied at different prices.

Q: A local paintball business receives total revenue of $10,000 per month when it charges $12 per…

A: Price elasticity of demand refers to the percentage change in the demand for goods and services due…

Q: A search good is a product that: is difficult to locate, so it takes time to find it. can easily be…

A: A search good is a product or service which can easily be evaluated before purchase.

Q: In the short-run if there is a surplus in the market for a product, the rationing function of price…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: Suppose there is a decrease in supply and an associated decrease in the quantity demanded. Which of…

A: Supply refers to the quantity of goods or service that a seller is willing and able to sell at a…

Q: Your firm has previously modeled revenue for your local production line. Given that total revenue…

A: Total revenue is the product of price and quantity. The total revenue is maximized where the…

Q: A taxi company finds success in its city of operation. Due to this success, a new company comes into…

A: In economics, studying a market scenario is considered as a significant learning as it helps to…

Q: A decrease in the price of a productive resource will result in each of the following except a(n):…

A: Introduction This idea was developed under the assumption that the customer's earnings, the price of…

Q: Juice producers are price takers since they compete in a highly competitive market. The going rate…

A: Any amount of the good can be sold by a completely competitive company, which acts as a price taker.…

Q: Given a demand curve of P = 165 - 6Qd and supply of P = 65 + 5Qs, find the equilibrium price (Pe),…

A: The demand curve shows an inverse relationship between price and quantity demanded, ceteris…

Q: Find the supply equation using the given information. (Let x be the number of items.) At a price of…

A: A supply function is a mathematical expression, that signifies the relationship between quantity…

Q: Which of the following statements best explain why supply curves typically slope upwards: O Higher…

A: A supply curve is a graphical representation of the relationship between the quantity of a good or…