Which of the following is a predicted result of the increased use of additive manufacturing (using 3-D printers)? Multiple Choice significant increases in the fixed costs of producing manufactured goods Economies of scale in manufacturing will be eliminated, driving up production costs and prices. 4 lower prices of manufactured goods through the elimination of large fixed costs and transportation costs monopolization of manufactured goods industries, as few individuals can afford additive manufacturing technology

Which of the following is a predicted result of the increased use of additive manufacturing (using 3-D printers)? Multiple Choice significant increases in the fixed costs of producing manufactured goods Economies of scale in manufacturing will be eliminated, driving up production costs and prices. 4 lower prices of manufactured goods through the elimination of large fixed costs and transportation costs monopolization of manufactured goods industries, as few individuals can afford additive manufacturing technology

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 23P: HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow...

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2500 2000 1500 Returns te scale: 0.33 1000 Price 2 10 15 20 25 30 Size dength in feet) 35 40 Rental price 100 The interactive above is from the loarning object, it will automatically find the profit maximizing length of the truck Adam should rent at given prices, rental rates, productivities, and returns to scale. It only the productivity of the truck Adam chooses to rent decreases, which of the following would be true at the new profit maximizing level of output and length of truck? Select the two that apply O A decrease in marginal cost O A decrease in total costs O A decrease in total revenuo O An incroase in the amount of labor Adam hires Revenue
Shows in table how the average costs of production for semiconductors(the“chips”incomputermemories) change as the quantity of semiconductors built at that factory increases. a. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? b. If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? c. Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
What is a production technology?
What is die difference between accounting and economic profit?
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For each of the following examples, explain whether it is a case of external or internal economies of scale: a. Almost all Hermès products are manufactured in France. b. Apple has its displays mainly made in Japan and some made in Korea. c. All units of Toyota Land Cruiser and Prius sold in the U.S. market are assem- bled in Japan. d. Gerber used to be an American-owned company, now a subsidiary of the Nestlé Group, headquartered in Fremont, Michigan. It is often argued that the existence of increasing returns is a source of conflict between countries, since each country is better off if it can increase its production in those industries characterized by economies of scale. Evaluate this view in terms of the external economy model.
86) An economy unit of agricutural output raquires 0.L'unit of ag ristural input and agriultural industy and a teatile industry. Each has 9n 0.1 unit of textiles inputs. Each unit of textiles output requires o.1 unit of agricul tural imput and 0:2 unlt of textiles input. a Write the technoligy matrix for this b) If surpluses of S units of agrlualhural products and15 units of texti le s ave desired, final the gois poluchion of each industry econdny. .
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