Match the following terms to their descriptions - Economies of scale - Constant returns to scale  - Diseconomies of scale - a curve which represents a company's ability to adjust it's methods and costs of productivity over time, optimized according to quantity produced

Q: rease in average

A: Economies of scale are the cost advantages being reaped by companies when production in turn becomes…

Q: True or False: The shape of the total physical product curve reflects the law of increasing marginal…

A: The law of increasing marginal returns also called the law of diminishing costs states that as far…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: Given: To Find: The short-run total cost if Ike's Bikes is currently producing 600 bikes: The…

Q: (d) The long run average cost curve is U shaped because up to a certain point you have excess K/L…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: Which describes our situation when quantity increases from 2 to 3 Economies of Scale ODiseconomies…

A: Quantity Long run T.C $ L.R A.T.C $ 0 8 -- 1 28 28 2 47 23.5 3 67 22.33 4 96 24 5 138…

Q: Economies to scale refer to Select one: a. the point at which marginal cost equals average cost.…

A: "Long-run average cost curve is used to determine the scale of production process."

Q: 2. i) With the aid of an appropriate diagram explain what is meant by economies and diseconomies of…

A: i) Economies of scale:Economies of Scale is an economic situation where the long run average total…

Q: With reference to returns to scale: a) Explain what is meant by returns to scale. b) Use an isoquant…

A: a) Returns to scale refers to how the output changes as the input changes. There are three types of…

Q: Define Economies of Scale, Diseconomies of Scale, Constant returns to scale.

A: Economies of scale: Economies of scale  are the cost advantage happens due to increase in…

Q: Match the descriptions below to the appropriate concept: A. Diseconomies of Scale B. Economies of…

A: Economies of scale is dependent on the average total cost.  The efficient scale is where the average…

Q: 1. Consider the Cobb-Douglas production funetion f(K,L) = cK"L*, where a, b, and e are constants…

A: Given information Cobb Douglas production f(K,L)=cKaLb  a, b and c is constant and greater than 0

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: No. of factories Q=100 Q=200 Q=300 Q=400 Q=500 Q=600 1 260 200 160 200 280 400 2 330 240 160 160…

Q: A  large-scale producer selling a wide range of soft drinks. (a) Outline and explain the sources of…

A: Diseconomies of scale occur when a business grows so large that the costs per unit increase. It…

Q: (a) Does this production function exhibit increasing, decreasing, or constant returns to scale?…

A: (a) The production function exhibits increasing returns to scale. This is because if we double the…

Q: Refer to Figure 1. Which of the short-run average cost curves correctly depict economies to scale?…

A: Long-run average cost The long-run average cost is tangent to the falling portion of the short-run…

Q: What is the formula to calculate profits?

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: 1. Which of the following production functions is an increasing, decreasing, or constant return to…

A: Return to scale: It tells us that of we increase capital and labour with a factor of ‘t’ then how…

Q: According to this graph, Dollars per Year C B Total Cost Variable Cost Fixed Cost Total Product…

A: The average total cost is calculated as the overall production costs divided by the total output. In…

Q: Q7. Provide your own examples for the questions below. a. An example for economies of scale using…

A: Economies of scale occur when the average cost of production decreases as output increases.…

Q: Define Minimum Average Cost and Efficient Scale.

A: Minimum Average  Cost :The average cost or average total cost is per unit cost incurred by the firm…

Q: shows the long-run average costs for Inmode, a manufacturer of Internet modems. Quantity per Day…

A: This can be defined as a cost that shows the type of cost that an individual, business, or any other…

Q: d. Using the table below indicate which firm has (i) diseconomies of scale and (ii) constant returns…

A: Diseconomies of scale is occurs when the per unit cost of output increases as output level increases…