Diminishing returns - Study guides, Class notes & Summaries

supply and demand correct answersthe amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. High supply and low demand correct answerslower prices Low supply and high demand correct answershigher prices law of diminishing returns correct answersrefers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested. fixed costs correct answersCosts that do not var...

EDGE Objective Final Actual Questions and CORRECT Answers The law of diminishing returns states that as you add more employees to your organization while keeping inputs (e.g., fiscal resources, activity space, office areas) constant, each new employee will contribute more and more to the overall productivity of the organization. - CORRECT ANSWER- False When candidates are compared to each other, and not a rating form. This is known as: - CORRECT ANSWER- Contrast Effect

Farm Business Management CDE Questions and Answers Already Passed First step in decision making process Define the problem Short term goals are normally achieved in 1 year How do you find liquidity current ratios Divide current assets by current liabilities How do you find liquidity working capital Subtract current assets by current liabilities How do you find liquidity debt structure Current liabilities divided by total liabilities x 100 How do you find liquidity asset struct...

characteristics of monopolistic competition include all of the following except correct answers identical products As the manager of a waterpark, you want to increase the number of tickets sold by 6%. Your staff economist has determined that the price elasticity of demand for waterpark tickets is 2. To increase sales by the desired amount, you should decrease price by correct answers 3% A production possibilities frontier shows correct answers all of the possible combinations of goods & se...

animal systems - answerAg, Food, and Natural Resources pathway that includes careers that involve animals environmental - answerAg, Food, and Natural Resources pathway that employs people who are interested in preserving the environment food products and processing - answerAg, Food, and Natural Resources pathway that is dedicated to food production, processing, and preservation natural resource systems - answerAg, Food, and Natural Resources pathway that focus on natural resources and the...

If, when a firm double all its inputs, its average cost of production decreases, then production displays correct answers economies of scale The long-run average cost curve shows correct answers the lowest average cost of producing every level of output in the long run All of the following statements are true of the minimum efficient scale except one. Which one? correct answers an increase in the output level will increase profit At the minimum efficient scale correct answers the firm h...

Capsim Quizzes Market segments are named for: a The customer's geographic region b The customer's end product c The manufacturer's geographic region d The customer's top concern - d. The customer's top concern Of the five market segments, which three are more concerned about leading-edge technology within their respective segment expectations? a Size Segment, Peformance Segment, and Traditional Segment b Size Segment, Performance Segment, and Low End Segment c Size Segment, Pe...

Average variable cost and the cumulative number of units produced correct answers Learning curves represent the relationship between Select one: a. average variable cost and the cumulative number of units produced b. total cost and technology c. average variable cost and the rate of increase in technology d. average variable cost and the number of units produced per time period None of the above is correct correct answers If the marginal product of labor is 2, the marginal product of ...

Economics- Chapter 5 Latest Update Already Graded A supply the amount of a product that would be offered for sale at all possible prices that could prevail in the market law of supply principle that suppliers will normally offer more for sale at high prices and less at lower prices supply schedule a listing of the various quantities of a particular product supplied at all possible prices in the market supply curve a graph showing the various quantities supplied at all possible prices that mig...

d. As the size of the firm increases it becomes more difficult to coordinate the operations of its manufacturing plants. correct answers Which of the following is a reason why a firm would experience diseconomies of scale? a. As the size of the firm increases, it becomes more difficult to find markets where it doesn't already have operations. b. As the size of the firm increases, it must operate in other countries where differences in language, customs and laws increase its average costs. c....