Question 3   A motor vehicle assembly plant requires the use of both capital and labour.The Tesla manufacturing plant is considering increasing the number of workers to increase production .Does diminishing returns hold in this scenario?(yes or no) Explain .

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A: Implicit costs, also known as imputed costs, represent the opportunity cost of using resources that…

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A: The overheads are charged to the goods and services. The prime cost includes Direct Material cost…

Q: A motor vehicle

A: The diminishing return is also known as the law of diminishing returns. It states that an increase…

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A: Marginal product is the change in total output resulting from employing an additional unit of…

Q: Question : In the given figure What are the main differences between the universities’ cost…

A: Total cost is the sum of fixed cost and variable cost. TC = FC + VCMC = TCn-TCn-1

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A: a.)Total cost:Total cost can be calculated as follows:

Q: 1. Marginal product of capital and labor in a CRS Cobb-Douglas production function 2. Second…

A: The production function depicts the technical association between the quantities of output (Q) that…

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A: The workforce, often known as the labour force, is the pool of people who are employed or…

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A: Explicit costs and revenues are those financial transactions that are directly related to a decision…

Q: Definition of economic costs Edison lives in Detroit and runs a business that sells guitars. In an…

A: Revenue is the receipts that Edison receives from selling their guitars. Cost is the expenditure…

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A: Understanding the impact of eliminating licence renewal fees on automobile ownership costs is the…

Q: Joan Zorba orders calculators for her office supply stores. Each calculator cost $35, currently she…

A: EOQ =  Square root ( 2 x Co x D / Ch ) Where , D = Annual demand = 5 / day x  6 days/ week x 52…

Q: Question 10: A car manufacturing plant finds that adding more assembly line workers initially leads…

A: In this question, the behavior of the car manufacturing plant in response to adding assembly line…

Q: Please provide the correct answer. Thank you!

A: Explicit costs are clear, measurable expenses involving direct monetary transactions, such as rent…

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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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A: The Minimum Acceptable Rate of Return (MARR) is the rate of return that a company uses to compare…

Q: Assume you own and manage a manufacturing firm where total revenue is $50 000 and inputs of : raw…

A: TR = $50,000 Raw material cost In= $20,000 Labor L = $8,000 Rent R= $10,000 Interest i = $5,000…

Q: The following is cost Information for the Creamy Crisp Donut Company. Entrepreneur's potential…

A:

Q: Which of the following relationship is correct? When marginal cost (MC) starts to increase; average…

A: MC is the slope of TC(total cost). ATC is the per unit cost of product obtained by the ratio of TC…

Q: Question 2 The economic cost of education of a student is the summation of all the economic cost of…

A: The economic cost of education is defined as how a student can sum up all the economic cost of the…

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A: Implicit cost is the opportunity cost.

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A: The cost of rented or owned construction equipment, as well as the costs of fuel, loading,…

Q: (d) Evaluate the following statement. "I used my own money, my own land and my own equipment to…

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A: Present worth can be calculated as : P = A1+in-1i1+in Here, A = annual payment n = no. of years I =…

Q: 3-a) Why do labor costs made up such a small percentage of the cost to produce an iPhone? 3-b) Where…

A: Cost of production is the total amount spent in the production to produce the goods. Labor cost…

Q: Estimate a quadratic production function where Q= output; L= labour input; K= capital input.

A: In economics, the Cobb-Douglas Production function is the relationship between two or more…

Q: 6)ABC company is using labor and capital to build widgets The last employee produced 20 more widgets…

A: 6. The marginal product of labour = 20     The price of labour = $10     The marginal product of…

Q: 4 The median starting salary for new law school graduates is determined by log(salary) = Bo + B,LSAT…

A: We are going to use classical linear regression model properties to answer this question. Note: As…

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A: Average Fixed Cost = Total Fixed Cost / Output Marginal Cost = Change in Total Cost / Change in…

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A: Economic costs involve not just the accounting costs but also the opportunity cost of making one…

Q: 1. A company is considering opening a new product line. The building being considered will have a…

A: The point where the costs of producing a product equal its revenue is called the break-even point..…

Q: Jack decides to quit his job paying $28,000 a ycar and start his own business manufacturing and…

A: Explicit Costs are those costs which are incurred while conducting business operations. Implicit…

Q: Suppose you manage a business that produces high-end dog food. The business produces 3,000 dog food…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: The table below shows the annual percentage change in sales for five locations of J&J Burger. Pct.…

A: Sales in Oxnard location in 2021 is $125,864

Q: Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity…

A: The productivity can be defined as the output produced per unit of input. It is the measure of…

Q: A motor vehicle assembly plant requires the use of both capital and labour. The Tesla manufacturing…

A: The answer to the question is as follows:

Q: Question 6 A carpenter quits his job at a furniture factory to open his own cabinetmaking business.…

A: A rational person work where they get higher income so here we calculate the cost and profit of the…

Q: 6. Zenande believes the production of a dress requires 10 labour hours and 5 machine hours to…

A: here we calculate the cost of production and choose the correct option which are as follow-

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A: 1) This offer will be accepted as the total revenue is greater than the total variable cost.

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A: Marginal Revenue Product(MRP) is the revenue(R) generated by an additional vehicle used for…

Q: Suppose your current job pays you $300,000 a year.  However, you are considering starting your own…

A: Given, Total revenue=$7,500,000  Cost of material=$2,750,000  Employees salary=$1,500,000…