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1 year ago

For a typical firm, as production continues to expand marginal cost will increase due to?

1 answer:

4 0

For a typical business firm, as production continues to expand marginal cost will increase due to the use of less productive resources.

<h3>What is law of diminishing marginal productivity?</h3>

The law of diminishing marginal productivity states that as the unit of a good produced by using more variable input units alongside a certain amount of fixed inputs increases, the total output may grow at a faster rate initially, then at a steady rate, and then starts decreasing or diminishing as the units of good produced increases.

<h3>What is marginal cost?</h3>

Marginal cost can be defined as the additional amount of money that is paid by a business firm from the production of an additional unit of a good or service.

In conclusion, as production continues to expand for a typical business firm, marginal cost will increase due to the use of less productive resources in accordance with the law of diminishing marginal productivity.

Read more on law of diminishing marginal productivity here: brainly.com/question/28149506

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The u. s. government promoted public participation in the 2010 census during the televised super bowl game in its efforts is to

Pavel [41]

Answer:

a. advertising

Explanation:

Advertising: It is a creative marketing strategy to promote product and service by using paid communication channel. It help to spread awareness to the target audience. This technique is used to aware public about product, social cause, scheme or government policies.

There are three primary objective of advertising:

Inform
Persuade.
Remind.

Advertising follow the AIDA model, which states awareness leads to Interests which lead to Desire and finally lead to Action.

5 0

2 years ago

An individual has utility function U(x)=x1/4U(x)=x1/4 for salary, and is considering new job offer which pays $80,000 with a bon

vladimir2022 [97]

Answer:

108,280.22

Explanation:

Certainty equivalent is solved by taking the inverse utility function from the expected utility of a random wealth variable

U(x) = x^1/4

U^-1(x) = x^4

U^-1(x) === x^4

CE(x) = x^4

Salary Bonus Total income U(x)= x^(1/4) P(x) U(x)*P(x)

80000 0 80000 16.82 1/7 2.4

80000 10000 90000 17.32 1/7 2.47

80000 20000 100000 17.78 1/7 2.54

80000 30000 110000 18.21 1/7 2.6

80000 40000 120000 18.61 1/7 2.66

80000 50000 130000 18.99 1/7 2.71

80000 60000 140000 19.34 1/7 <u>2.76</u>

Sum <u>18.14</u>

CE(x) = 18.14^4

CE(x) = 108280.22

So therefore, the certainty equivalent of this job offer is 108,280.22

5 0

2 years ago

1. Define business. Explain the functions of business.

kotegsom [21]

$\large{ \tt{☄ \: ANSWER}} :$

↦ Business is an economic activity that is directed towards acquiring and earning profit and wealth through customer's satisfaction. It plays an important role for the economic development of the country and uplift living standard of the people. Some of the functions of business are described below :

Creation of utilities : For the fulfillment of needs of customers , business creates various types of utilities. A business has many components and each component is involved in the creation of the certain utility. For instance : manufacturers create from utility , transportation system created place utility , warehousing time utility and insurance companies risk utility.

Generation of employment : Business is a source of employment. Various types of employees are required to a business. In industries , both skilled and unskilled manpower are required for production , distribution and auxiliaries functions. Hence , the development of industry and commerce helps to solve the unemployment problem of a nation.

Earning Foreign Currency : Business is the main source of earning Foreign Currency. Foreign currency can be earned by exporting surplus products and services to foreign countries. The development of export trade brings favourable balance in payment.

Provides investment opportunities : Business provides investment opportunities to the investors in production and distribution activities. Depending on the nature of investment ; investors receive dividend , interest or other financial benefits. The persons of organizations having sufficient capital can invest their money in production and commercial activities according to their interest , capability and knowledge.

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3 0

2 years ago

The shape of your utility function implies that you are arisk-averse individual, and, therefore, youwould accept the wager becau

Furkat [3]

<u>Solution and Explanation:</u>

As the utility function is concave in shape, so person is risk averse. Thus, he will not accept the gamvle.

The difference between utility at point A&C = 70 minus 65 = $5, is less than a the difference between A&B = 65 minus 55 = $10

Answer is option a&d - risk averse people fear a lot for losing money, thus they overestimate the probability of loss

Since, shape of utility function is concave, hence the double derivative of utility with respect to wealth is negative, so utility falls at an decreasing rate , as wealth increases

8 0

2 years ago

Can someone help it’s for a quiz

Vaselesa [24]

2/3 your are Welcome ask

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2 years ago