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Why might learning by doing decrease the long-run average cost of production?
A. As output increases, firms begin to experience increasing returns to scale.
B. As cumulative output increases, managers become unable to schedule the production process as efficiently.
C. As cumulative output increases, engineers gain experiences that decrease costs with increasing defects.
D. As output increases, the production process begins to exhibit diseconomies of scale.
E. As cumulative output increases, workers become more adept, and the speed at which they product increases.
Explain how manager could improve and become more "well rounded". Also include what this manager did well. Include observations about the managerial environment.
In a perfectly competitive industry in which firms have U-shaped average cost curves, the long-run market supply curve is a horizontal line. This market supply curve is not the horizontal sum of individual firms’ long-run supply curves.
Jessie Romero offered to deliver two trade in vehicles- a 2003 Mitsubishi Montero and a 2002 Chvrolet Silverado pickup- to Scoggin-Dickey Chevrolet Buick, inc,. in exchange for a 2006 Silverado pickup. Scoggin-Dickey agreed. did the dealership have ..
Recently there has be a drive to increase the production of alternative fuels from corn. The argument used by many is energy self sufficiency. In light of the desire to reduce our use of foreign produced oil, many have suggested we should subsidize t..
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi = 20). What is the industry's long-run supp..
Two identical countries, Nation A and Nation B, can each be described by a Keynesian-cross model. MPC is .9 in each nation. How much is government purchases multiplier for each nation.
As a policy maker wanting to correct effects of gases and particulates emitted by a local power plant what two policies could be used to reduce total amount of emissions.
Define civic responsibility. What knowledge, skills, attitudes, and behaviors should an effective citizen have? Explain the connections you see among service, civic responsibility, and business?
calculate the profit maximinizing output. calculate the economic profit earned. Illustrate what is the industry for product equilibrium.
Consider again the case analyzed in class with two sectors exhibiting constant returns to scale technology (sector A is capital intensive and sector T is labor intensive). Suppose there is a neutral technological change in sector T only (no technolog..
List out three policy rules that the Fed might follow. Which of these would you advocate? Why?
What is the effect of an increase in the investment rate on the level of steady-state output per worker in the Solow model? What is the effect of an increase in the investment rate on the growth rate of output per worker in the model? Illustrate and ..
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