BUSINESS HIGH SCHOOL

Consider the following statements when answering this​ question: I. If a firm employs only one variable factor of​ production, labor, and the marginal product of labor is​ constant, then the marginal costs of production are constant too. II. If a firm employs only one variable factor of​ production, labor, and the marginal product of labor is​ constant, then ​ short-run average total costs cannot rise as output rises. A. I is​ true, and II is false. B. I is​ false, and II is true. C. I and II are both true. D. I and II are both false.

Answers

Answer 1
Answer:

Answer:

C. I and II are both true.

Explanation:

Statement 1 states that if there is only one variable factor let us assume that is labor, accordingly it changes in total when there is change in output level, but that the change in per unit cost is NIL in variable terms and marginal terms.

Thus, this will result in constant marginal cost.

Statement 2 states that with all things similar to statement 1 the short run average total cost shall not increase, this is also correct as since the marginal product is constant, the average cost tends to decrease and cannot rise in any manner, even with the increase in output until the marginal cost increases.

Related Questions

Tree pruning company a charges a one-time $100 equipment fee and charges $50 for each tree that it prunes. Tree pruning company b charges a one-time $80 equipment fee and charges $60 for each tree that it prunes. Let the variable t represent the number of trees pruned and let the variable c represent the cost. For how many pruned trees will the cost be the same for both companies? which system of equations can be used to solve this problem?.
PLEASE HURRY In the space provided below, please respond to the following: Create a list of business risks and ways to deal with them. This project will focus on writing about a current event in business risks. The task is to first find an article that deals with business risks and write a summary of the article. In your summary, you should discuss what the risk is and what steps the business is taking to deal with it. Current Event Use the Internet to find an article that deals with business risks. Once you have found and read your article, record your summary and upload it. Use the following format. Paragraph #1 - Summary of article including the link Paragraph #2 - How it relates to entrepreneurship Paragraph #3 - Your opinion of whether or not you think the appropriate steps are being taken to deal with the risk
Select the FALSE statement from below: A. Jurisdictions should assume that resources outside the incident area (State and Federal resources) may take up to 72 hours to arrive. B. Failure to include voluntary organizations in your planning and exercises will result in duplication of effort and/or resource shortfalls and "spontaneous" volunteers arriving at the scene. C. Given the limited resources, emergency managers should encourage groups to provide unsolicited donations. D. Communities cannot effectively respond to or recover from incidents without strong cooperative relations with the private sector.
You supply a good at a price of $5. You also earn a profit at this price. This means that your marginal cost could be
the new american enterprise mutual fund's portfolio is valued at $175,000,000. the fund has liabilities of $4,800,000, and the investment company sponsoring the fund has issued 6,100,000 shares. what is the fund's net asset value?

Mass production requires all of the following excepta. division of labor
b. interchangeable parts
c. assembly line
d. training in each part of production

Answers

d. training in each part of production

In a growing number of cities, stores are required either not to make available plastic or paper bags or to do so only for an additional fee. if this fee can be refunded when someone recycles the bag, the refund acts as a(n) ________ incentive.

Answers

The answer to the question is (A) a direct incentive.

A direct incentive refers to a type of incentive that is given in order to cause an action to occur.

A direct incentive is generally tangible to the person who is targeted by it. In contrast, its opposite, an indirect incentive refers to a type of incentive that a person receives indirectly by choosing to do something. It is usually less tangible than a direct incentive.

Which of the following is NOT a reason a seller would rate a transaction as valuable?Select one:
a. The transaction makes a seller prestigious among the competition
b. The transaction allows a seller to take pride in its product
c. The transaction allows a customer to pay the cheapest price for the product
d. The transaction motivates or educates the public

Answers

its would be  d        because it motavites or edcates in publix they dont do that              

In the market for financial capital, ________.a. those who demand financial capital receive interest on loans. b. those who supply financial capital pay interest on loans. c. the supply of financial capital comes from savings, and the demand goes to making loans. d. the demand for financial capital comes from savings, and the supply goes to making loans.

Answers

Answer:

The answer is C.

Explanation:

In financial market, it is the money that customers save that is available for loans. So customers supply money for loan into the financial market, and the demand for this money makes loan.

The financial markets help to save money for the future and to borrow money for current use.

Which country has a Gross Domestic Product of about 8.5 trillion dollars?A) Japan

B) China

C) United States

D) Russia

Answers

The answer would be : B. China

Japan has a  4.92 trillion Dollars of Gross Domestic Products
United states has a 16.77 trillion dollars worth of Gross Domestic Products
and
Russia has a 2.097 trillion dollars of Gross Domestic Products

That leave China as the correct answer

o decide whether or not to buy a season ski pass. A daily pass costs ​$80. A season ski pass costs ​$450. The skier would have to rent skis with either pass for ​$25 per day. How many days would the skier have to go skiing in order to make the season pass less expensive than the daily​ passes?

Answers

Answer:

6 days

Explanation:

Given:

Cost of daily pass = $80

Cost of season ski pass = $450

Rent for the skis per day = $25

Let the number of days be 'x'

Thus,

Total cost with the daily pass = $80x + $25x = $115x

And,

Total cost with season pass = $450 + $25x

Now, in order to make the season pass less expensive than daily pass

the total cost with the season pass should be less than the total cost with the daily pass

Mathematically,

$450 + $25x ≤ $115x

or

$450 ≤ $115x - $25x

or

$450 ≤ 80x

or

x ≥ 5.625

i.e the skier should go to skiing atleast 6 days to make  the season pass less expensive than the daily​ passes
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