Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 21, Problem 9QP
To determine
Describe the relationship between the law of diminishing return and diseconomies of scale.
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Explain the differences between diminishing marginal returns and diseconomies of scale.
What effect, if any, does diminishing marginal product have on the shape of the marginal cost curve?
Is fixed cost always smaller than total cost ?
Chapter 21 Solutions
Economics (MindTap Course List)
Ch. 21.2 - Prob. 1STCh. 21.2 - Prob. 2STCh. 21.2 - Prob. 3STCh. 21.2 - Prob. 4STCh. 21.3 - Prob. 1STCh. 21.3 - Prob. 2STCh. 21.3 - Prob. 3STCh. 21.4 - Prob. 1STCh. 21.4 - Prob. 2STCh. 21.4 - Prob. 3ST
Ch. 21.4 - Prob. 4STCh. 21.5 - Prob. 1STCh. 21.5 - Prob. 2STCh. 21.5 - Prob. 3STCh. 21 - Prob. 1QPCh. 21 - Prob. 2QPCh. 21 - Prob. 3QPCh. 21 - Prob. 4QPCh. 21 - Prob. 5QPCh. 21 - Prob. 6QPCh. 21 - Prob. 7QPCh. 21 - Prob. 8QPCh. 21 - Prob. 9QPCh. 21 - Prob. 10QPCh. 21 - Prob. 11QPCh. 21 - Prob. 12QPCh. 21 - Prob. 13QPCh. 21 - Prob. 14QPCh. 21 - Prob. 15QPCh. 21 - Prob. 16QPCh. 21 - Prob. 17QPCh. 21 - Prob. 18QPCh. 21 - Prob. 19QPCh. 21 - Prob. 1WNGCh. 21 - Prob. 2WNGCh. 21 - Prob. 3WNGCh. 21 - Prob. 4WNGCh. 21 - Prob. 5WNGCh. 21 - Prob. 6WNGCh. 21 - Prob. 7WNGCh. 21 - Prob. 8WNGCh. 21 - Prob. 9WNG
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- If the marginal cost is increasing does this tell you whether the average variable cost isincreasing or decreasing? Explain.arrow_forwardIf the marginal cost is increasing, do you know whether average variable cost is increasing or decreasing? Explain.arrow_forwardDemonstrate your understanding of the law of diminishing marginal returns.arrow_forward
- is it true that the marginal cost curve intersects the average variable cost curve at the break-even point?arrow_forwardIf marginal cost is less than average cost, average cost must fall when more units are produced. Is this true?arrow_forwardWith appropriate examples explain how marginal cost is related only to total variable cost.arrow_forward
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