Economies of scale.

Question

If a higher level of production allows workers to specialize in particular tasks, a firm will likely exhibit _______of scale and ______ average total cost. a. economies, falling b.economies, rising c. diseconomies, falling d. diseconomies, rising

Answer 1

Question

Chapter 13, Problem 6CQQ

To determine

Economies of scale.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

If a higher level of production allows workers to specialize in particular tasks, a firm will likely exhibit _______of scale and ______ average total cost. a. economies, falling b.economies, rising c. diseconomies, falling d. diseconomies, rising

If average total cost is increasing as output increase, then marginal cost must be average total cost. Select one: a. equal to b. less than c. greater than d. not enough information to make a decision. One important concept we learned this semester is the relationship between productivity and cost. We learned that average variable cost and the average product of labor have a relationship, ceteris paribus. Select one: a. fixed or constant b. all of the above c. inverse O d. positive

Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells them for $7 each a. Find the linear cost function for Joanne's T-shirt production b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $700? a. The linear cost function is C(x)= b. Joanne must produce and sell c. Joanine must produce and sell T-shirts in order to break even, because the number of T-shirts must be a whole number T-shirts to make a profit of $700, because the number of T-shirts must be a whole number