Explain why the marginal cost of production must increase if the marginal product of the variable resource

Question:

Explain why the marginal cost of production must increase if the marginal product of the variable resource is decreasing.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics A Contemporary Introduction

ISBN: 978-1111415921

9th edition

Authors: William A. McEachern

See More Books

Question Posted: Dec 12, 2015 05:22 AM

See More Questions

1. The presence of _______explains the negatively sloped portion of a long-run average-cost curve, and the notion of _______explains the horizontal portion of the curve. 2. Consider the information...
Data You are employed as the assistant management accountant in the group accountant's office of Hampstead plc. Hampstead recently acquired Finchley Ltd, a small company making a specialist product...
Explain why the marginal cost curve must intersect the average total cost curve and the average variable cost curve at their minimum points. Why do the average total cost and average variable cost...
Use the graphs of f and g to solve Exercises 8390. y = g(x) HH y .y = f(x) # X
In the current year, Paul Chaing (4522 Fargo Street, Geneva, IL 60134) acquires a qualifying historic structure for $350,000 (excluding the cost of the land) and plans to substantially rehabilitate...
Provide a mechanism that explains formation of the following products. Include all intermediates, formal charges, and arrows showing electron flow. 0 N-Br (NBS) 0 hv 11
Consider the electronic inverter data in Table B.14. Delete the second observation in the data set. Split the remaining observations into prediction and estimation data sets. a. Find the minimum...
Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2010, together with comparative data for the year ended December 31, 2009. From the statement of cash flows for the...
What role does emotional intelligence play in conflict management, and how can emotional regulation techniques enhance conflict resolution effectiveness in interpersonal and organizational contexts ?
Spencer Duck (SSN 000-22-1111) is single and his eight-year-old son, Mitch, lives with him nine months of the year in a rented condominium at 321 Hickory Drive in Ames, Iowa. Mitch lives with his...
What is the difference between fixed cost and variable cost? Does each type of cost affect short-run marginal cost? If yes, explain how each affects marginal cost. If no, explain why each does or...
What effect would each of the following have on a firms short-run marginal cost curve and its total fixed cost curve? a. An increase in the wage rate b. A decrease in property taxes c. A rise in the...
Holding your hand at arms length, you can readily block sunlight from your eyes. Why can you not block sound from your ears this way?
Suppose for an i.i.d. sample of size $n$, the disease status, $d_{i}$, is MCAR with the probability of each $d_{i}$ being observed given by $\pi=0.75$. (a) Show that \(\frac{1}{n} \sum_{d_{i}...
To determine an athlete's body fat, she is weighed first in air and then again while she's completely underwater, as discussed on page
True or False: Annual worth analysis is the most popular DCF measure of economic worth.
True or False: AW can be applied as either a ranking method or as an incremental method.
True or False: The capital recovery cost is the uniform annual cost of the investment less the uniform annual worth of the salvage value.
Distinguish between tracing of costs and cost allocation.
Troy is a qualified radiologist who operates a successful radiology practice from purpose- built rooms attached to his house. Troy works in the practice three days a week, and the other two days he...
What is the impact of a decrease in the required reserve ratio on aggregate demand?
If money is so versatile and can buy anything, why dont people demand all the money they can get their hands on?
Determine whether each of the following would lead to an increase, a decrease, or no change in the quantity of money people wish to hold. Also determine whether there is a shift of the money demand...
What is one specific security tactics to protect the network. Identify specific tools selections to accomplish compliance and audit requirement Describe how alerts would be collected and presented...
1. Solve each equation for x, where 0x & a) sin x-= 0 b) cosx-3 cosx+2=0
Explain Article III Standing, and explain how to achieve standing. b) Explain Negligence, and provide an example of a Negligence claim. c) What happened in the case of Genesco v. Visa? d) Explain the...

Explain why the marginal cost of production must increase if the marginal product of the variable resource

Question:

Step by Step Answer:

A decrease in the marginal productivity of a variable resource means that the add...View the full answer

Microeconomics A Contemporary Introduction

Students also viewed these Economics questions