Question: Explain the difference between diminishing returns and decreasing returns to scale. (3 marks) Please explain it with no plagiarism as somebody did few hours ago

Explain the difference between diminishing returns and decreasing returns to scale.

(3 marks)

Please explain it with no plagiarism as somebody did few hours ago from Coursehero and I got too high plagiarism

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

QUESTION TWO a. Discuss the importance of production functions in managerial economics? (3 marks) b. What are the decisions making principles in production? (2 marks) c. Explain the difference...

Q:

I. Which of the following is correct? a) The pivot of the budget line shows the substitution effect while a slope gives the income effect. b) The pivot of the budget line shows the substitution...

Q:

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

Q:

Question 4 (20 minutes) The province wishes to improve our environment and accordingly will subsidise your municipality $ 2 for every $1 you spend on sewage facilities up to a maximum of $ 1920. Your...

Q:

Paper Presentation on Marginal Revenue Product And Optimal Employment Level: An Illustration of Student Involvement Dr. Eugene Steadman, Jr. Averett University 7Th Annual Economics Teaching...

Q:

Is it possible to estimate the ROI of training for all training programs? Which are more or less susceptible to this calculation? 6 TRAINING AND DEVELOPMENT CFO asks CEO, 'What happens if we invest...

Q:

A vendor is recommending a program to make supervisors better at 'dealing with difficult conversations' at work. How would you apply the concepts of optimisation and the Kirkpa- trick model to set up...

Q:

ANSWER THE FOLLOWING QUESTIONS 1. On Farmer Jones' farm, only honey is produced. There are two ways to make honey: with and without bees. A bucket of artificial honey, absolutely indistinguishable...

Q:

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

Q:

The text of the case are in this file:France Case Writeup.pdf. The assignment is in this file:France Case Assignment.pdf The spreadsheet that you'll use in your assignment is available here:France...

Q:

Which cytosine in the following sense strand of DNA could cause the most damage to the organism if it were deaminated? 5-A-T-G-T-C-G-C-T-A-A-T-C-3

Q:

Are fractional interests in a pool of terminal patients' life insurance benefits (viatical settlements) securities?

Q:

Me S . c 4 0 of 4 5 Concepts completed ( i ) Multiple Select Question Select all that apply Stock sale price and dividends are kinds of cash flows investing in a stock can provide. included in the...

Q:

Firms will choose different entry strategies into the global marketplace depending on the severa facto A . Tariff rates B . The degree of adaption of your product required C . The ability of the...

Q:

3. What does Ramona have to do to ensure a smooth return to work for the injured worker after the accident Ramona McKenzie is on her way to work on a cloudy Monday morning when she gets the call on...

Q:

2. Whois responsible for this accident? Ramona McKenzie is on her way to work on a cloudy Monday morning when she gets the call on her cell phone that no human resources manager wants to receive: An...

Q:

define what is meant by research in the context of HRM&D and how it can contribute to effective policy and practice;