Can you identify any of the costs discussed in the lesson

Assignment Help Microeconomics
Reference no: EM131191625

Microeconomic

Another important law in economics is the "law of marginal returns or the law of increasing costs". Discuss in terms of your study in this course, how might you know that you are at a point of diminishing returns, or where more study will not benefit you like it did before? Can you identify any of the costs discussed in this lesson in your decision about how much study is enough?

Reference no: EM131191625

Questions Cloud

Sustainable competitive advantage : Describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage. What about the situations when a differentiation strategy is chosen? Provide specific real world examples.
What are transactions costs : What are transactions costs?- Does financial intermediation increase or decrease transactions costs?
What did you learn about the innocence project : What did you learn about the Innocence Project and eyewitness identification? What surprised you the most? What steps, if any, do you think should be taken to make the identification process more reliable?
Calculate comparative advantage : What is the best way mathematically to calculate Comparative Advantage when given an example? I am not quite clear on what number becomes the denominator when calculating opportunity loss.
Can you identify any of the costs discussed in the lesson : Discuss in terms of your study in this course. Can you identify any of the costs discussed in this lesson in your decision about how much study is enough?
What is a checkable deposit : What is a checkable deposit? - How does a depository institution differ from other intermediaries? Give three examples of depository institutions.
Differences between micro and macroeconomics : What is the definition of economics, expand on the differences between micro and macroeconomics?
Why does the fed monitor the economy : Why does the Fed monitor the economy? - What actions can the Fed take to affect the overall health of the economy?
What are the health risks of overweight and obesity : Describe the effect that obesity (childhood and / or adult) has had on you personally or your community. Select one (1) contributing factor to childhood or adult obesity. Recommend two (2) preventative measures related to the selected factor that p..

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd