Marginal factor cost - Study guides, Class notes & Summaries

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...

FCFF (using EBITDA) CORRECT ANSWER FCFF = EBIDTA(1-T) + DEP(T) - Finv - Winv Converting FIFO to LIFO COGS CORRECT ANSWER FIFO COGS = LIFO COGS - (End LIFO Reserve - Beg LIFO reserve) Engle- Granger Test CORRECT ANSWER Test whether 2 variables are cointegrated. Regress 1 data series against the other and check residuals for unit root. Steady State of Growth Formula CORRECT ANSWER growth = Growth Rate TFP/1-(Labor cost in total factor cost) + labor force growth Labor productivity growt...

Final Exams ECON 1580 Introduction to Economics Question 1 If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are: a. unrelated goods. b. superior goods. c. inferior goods. d. substitute goods. Question 2 A decrease in the demand facing a monopoly firm would _______ quantity and _______ price. The demand is inelastic. a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decreas...

What are the characteristics of digitalization? -Digital footprint -Timeless Time -Death of Distance -Poly-directionality -Network structure -Network externalities -Economies of scale -Media richness selection -Exposure selection -Algorithmification: A.I What is the digital footprint? -Storage and computation convergence -Examples: Google location tracker, video of amazing mind reader who was able to find out private information about people through the internet, recording everything...

Market Surplus - The dollar equivalent of the total benefit generated by a market. Market Surplus - Consumer surplus + producer surplus Price Ratio - The ratio at which one product can be exchanged for another such that the total cost of the two products together remains constant. Consumer surplus - An additional amount of money that consumers were willing to pay for a given quantity of product but which they did not pay. Consumer surplus is the dollar equivalent of consumer's utilities f...

CMN 170V Final Exam Questions and Answers Already Passed What are the characteristics of digitalization? -Digital footprint -Timeless Time -Death of Distance -Poly-directionality -Network structure -Network externalities -Economies of scale -Media richness selection -Exposure selection -Algorithmification: A.I What is the digital footprint? -Storage and computation convergence -Examples: Google location tracker, video of amazing mind reader who was able to find out private in...

ECS1601Test bank with answers Economics, past exam papers Exam-Pack-Index From , assignment 1, assignment 2, .. ..complete solutions 1 ECS1601 TEST BANK Question 1 In the goods market of the circular flow model, …. 1) firms buy factors of production from consumers 2) firms buy finished products from households 3) consumers buy factors of production from firms 4) firms sell factors of production to the government 5) consumers buy finished products from firms The correct...

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 ...

Factors of Production correct answers An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit Demand correct answers An economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service Supply correct answers A fundamental economic concept that describes the total amount of a specific good or service that is available to consumers Microeconomics correct answe...

CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ Larger ratio is better If (Rₜ) is risk free rate, then it becomes Sharpe Ratio Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ Larger ratio is better If (Rt) is higher than RFR, then it becomes Safety First Ratio Centra...