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# Factors of Production

### Economics problem and topic idea

What are economies of scale? Give an example. What are the graphic relationships among fixed, variable, total, average, and marginal costs? What is the relationship between productivity, cost of inputs, and the cost of production? Can you give me a good topic to write this paper on? I am at a blank with this paper. 1)

### Fixed and variable costs problem

What's the difference between the short run and the long run? In which case are there fixed and variable costs of production and in which case are there only variable costs?

### short run and long run

Assume a firm has fixed costs of \$80 and variable costs as indicated in the table below. Complete the cost table. Total Total variable Total product cost cost AFC AVC ATC MC 0 \$ 0 \$ 80 1 110 190 2 150 230 3 180 260 4 220 300 5 270 350 6 340 420 7 440 520 8 580 660

### Which of the following is not considered by economists to be a basic resource or factor of production?

Which of the following is not considered by economists to be a basic resource or factor of production? money machenary and equipment technology unskilled labor

### Supply - Long Run

13. Which of the following applies most generally to supply in the long run? a. Average cost must decline. b. Sellers are able to make adjustments in all of their factors of production. c. Sellers are only able to make adjustments in their variable factors of production. d. All original sellers will l

### Production Possibilites Curve

If the rate of high school drop outs increases, the production possibilities curve would: shift inward along one axis shift inward along both the horizontal and vertical axis shift outward along both the horizontal and vertical axis shift outward long one axis

### Long Run Production

In the long run at least one factor of production is held constant. True False

### Long Run-Short Run

I am trying to understand long run vs short run in terms of Microsoft. The question is can Microsoft earn short run economic profits, and can it sustain long run economic profits. Why or Why Not?

### Financial Accounting

9. What is the basic C-V-P equation? What is a more detailed version of this equation? 10. What is the contribution margin, and why is it important for managers to know the contribution margins of their products? 11. How much will profits increase for every unit sold over the break-even point? 12. What is the major

### Import Quotas: Quota on Lamb

The U.S. government imposes a quota on lamb imports from New Zealand and Australia. New Zealand and Australia have lobbied the U.S. government for an increase in the quota. What is the counter argument put forth by the U.S. government? Which argument is really and example of rent seeking?

### real & nominal interest rates

Looking at the concepts of real and nominal interest rates. How does inflation impact the interest you pay for loans such as a mortgage, car loan, or credit card loan? How do the concepts of real and nominal affect you when you get a raise?

### How has the positive externality affected the economy? How has the negative externality affected the economy?

I have to chosen two following 2 Internet articles from below?one article should discuss a positive externality, and one should discuss a negative externality. Now I need help listing the characteristics of the positive and negative externalities Positive Externality(characteristics) Negative Externality(c

### Macroeconomic Questions

See attached file for full problem description. 2. The following outline provides a complete description of all economic activity in Trivialand for 2004. Draw up versions of Tables 3 and 4 for Trivialand showing GDP computed in two different ways. I. There are thousands of farmers but only two big business firms in Trivia

### Break-even, operating leverage, average cost analysis

Could someone please help me complete the attached spreadsheets? I have attached information concerning the calculations the must be derived. The yellow highlighted parts are the parts I finished, could you check them to make sure they are correct? I need all rows and columns that are blank to be completed. There are two pages

### Production function, MC, AVC, TC, lagrangian multipliers

(See attached file for full problem description) --- Consider the original following production function: f(x) = x ^ 1/3 but now there is a fixed cost of F per year that the firm has already paid for this year. a) assuming W = 1 and F = 2, draw the marginal cost function (MC), average variable cost (AVC) a

### Different levels of automation for quality control inspection of production

We need to evaluate the different levels of automation for quality control inspection of production. Option 1: Manual - assign a number of employees along the conveyor belt to manually inspect and remove defective products. Option 2: Semi-automation - use fewer employees to inspect with less checkpoints required. Machine

Which of the following are short-run and which are long-run adjustments? Wendy's builds a new Restaurant. Acme Steel Corporation hires 200 more production workers. A farmer increases the amount of fertilizer used on his corn crop. An Alcoa Aluminum plant adds a third shift of workers. Thanks for the input

### Question and example

What problems would a firm have in determining its optimal level of production. Give three examples of industries and what factors would influence their ability to estimate the optimal level of production.

### GDP and GNP

If you add all of the transactions in an economy, do you arrive at GDP, GNP, or something else?

### Economics/Finance

1. Which of the following would be the best investment based on present value? Assume an annual discount rate of 16% a. An investment that pays \$5,000 at the end of each year for 6 years, assuming annual compounding. b. An investment that pays \$1,225 at the end of each quarter for 6 years, assuming quarterly compounding c.

### isoquant output produced

Am I right in saying an isoquant for an output produced using 2 inputs that can be perfectly substituted for each other can be represented by a straight line, and the slope of that straight line provides critical managerial information? Please clarify.

### Market Determinations for Payments

Please explain each question separately and in great detail. 1. How do markets determine the payments to the various factors of production? 2. How do markets determine the distribution of income?

### Short run losses

If there is a debate between a CEO and the president of a company as to whether or not to shut down a firm's plant in Texas that is currently losing \$60,000 monthly and the president of the company says they should continue to operate, at least until a buyer is found for the production facility because that the Texas plant's fix

### Tea Industry Crisis in India

What are the underlying issues of India's tea industry crisis? Why are other tea producing countries not as severely affected?

### Diminishing Returns and Returns to Scale

What is the difference between diminishing returns and returns to scale. How does each affect the behaviour of average costs?

### Invest in New Product or Shift Focus?

Provide a recommendation for whether the company should begin producing the new soundcard and, if the company should begin production, in which production technology should the company invest? Please see file attached, thank you for your help.

### Effect of Operating Leverage on Company's Risk Position

Describe how expanding the division with the highest operating leverage would affect the company's risk position. Based on the degree of operating leverage, how will this impact the risk?

### Indonesian Case Study 1 of 3

As discussed, please find question 1 below. Identify and assess the importance of the non-market factors that have influenced the operation of Lenzing AG's joint venture (SPV) in Indonesia.

### Returns to Scale Defined

Define returns to scale. Do you think that most businesses are increasing, constant, or decreasing returns to scale.

### Microeconomic Value of Public Goods

OK. So - you are elected President and you need to estimate the value of... let's say... Homeland Security. No one argues whether we need to protect our country from attack (no one rational anyway). So how can you attach a value to it? What are your ideas? 2) What is the problem with determining the value of a public good