Production function are both fixed and variable inputs

Assignment Help Business Economics

Reference no: EM131091282

Which of the following statements is FALSE?

A) Included in the firm's short-run production function are both fixed and variable inputs.

B) An efficient firm can obtain more output than the production function shows.

C) The production function shows the technical relationship between a firm's inputs and outputs.

D) The production function presents the technically efficient methods of combining inputs to produce output.

Reference no: EM131091282

Questions Cloud

Problem between the owners of business and sale force : Sales personnel, whether selling life insurance automobiles or pharmaceutical typically get paid on commission instead of a straight hourly wage. How does paying a commission help solve the principal agent problem between the owners of a business and..

Each individual firm produce in the market equilibrium : A competitive firm’s cost of production is C(Q) = 16Q - Q2 + 4Q3. Draw this market demand curve on a diagram that includes the market supply function. Calculate the market equilibrium How much output does each individual firm produce in the market eq..

Problem between the owners of business and sales force : Sales personnel, whether selling life insurance, automobiles, or pharmaceuticals, typically get paid on commission instead of a straight hourly wage. How does pay in a commission help solve the principal-agent problem between the owners of a business..

What is lowest price at which the firm is willing to produce : A competitive firm’s cost of production is C(Q) = 16Q - Q2 + 4Q3 . Assume that the market price is P=26. Draw the firm’s supply curve. What is the lowest price at which the firm is willing to produce? You should show the exact coordinates of the supp..

Production function are both fixed and variable inputs : Included in the firm's short-run production function are both fixed and variable inputs. An efficient firm can obtain more output than the production function shows. The production function shows the technical relationship between a firm's inputs and..

Fatgear is operating in the production time : FatGear Corporation has recently finished building a new factory. They moved into the factory a month ago and found that it is the perfect size given the amount they want to produce. FatGear is operating in the A) production time B) corporation time ..

Firm that produces chocolate candy bars : Choco Goodness is a firm that produces chocolate candy bars. Which is NOT a short run variable input for this firm? A) Sugar B) Assembly line workers C) The big chocolate-stirring machines D) Packaging materials

Lie between average variable and average total costs : If average variable costs are increasing while average total costs are decreasing, then A) marginal cost must lie between average variable and average total costs. B) marginal cost must equal average variable cost. C) marginal cost must equal average..

Firm that originally sold hotdogs : Dave’s Dogs is a firm that originally sold hotdogs and soft drinks from a cart located in front of City Hall. Then Dave purchased another hotdog cart and hired someone to sell hotdogs and soft drinks near the high school. Both locations have been suc..

User Account

All Pages