- All Subjects
- Computer Science
- Electrical Engineering
- Information Technology
- Mechanical Engineering
- Project Management
Homework Help for Economics
Economics deals with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.
- Academic integrity
A firm scaled up its operation by increasing all inputs by 100%. If the firm experienced a 150% increase in the output, the firm's long-run average cost exhibits:
A) economies of scale at the current output level.
B) diseconomies of scale at the current output level.
C) a constant long-run average cost at the current output level.
D) diminishing marginal returns at the current output level.
Clifford Geertz taught that religion is an overriding system of symbols that serves two purposes. It gives us a worldview - what is the world all about? And it gives us an ethos - what ought we to do?
Think about religion as practiced in America today. Does it give a worldview? And does it give an ethos? For example, think about Christianity, practiced by the majority of Americans. Do they receive a worldview they can accept from Christianity? Do they get guidance on how to act?
1) Which statement(s) is(are) true?
I. In the short-run, a firm can experience increasing, decreasing, or constant returns to scale.
II. Decreasing returns to scale are often due to coordination and communication problems that create operating inefficiencies.
A. Statement I is true.
B. Statement II is true.
C. Statements I and II are true.
D. Statements I and II are false.
It is a typical Christmas electronics shopping season, and makers of flat-panel TVs are marketing the latest available models through their own Web sites as well as via retailers such as Best Buy and Wal-Mart. Each manufacturer offers its own unique versions of flat-panel TVs in differing arrays of shapes and sizes. As usual, each is hoping to maintain a stream of economic profits earned since it first introduced these most recent models late last year or perhaps just a few months before Christmas. Nevertheless, as sales figures arrive at the headquarters of companies such as Dell, Samsung, Sharp, and Sony, it is clear that most of the companies will end up earning only a normal rate of return this year.
a) How can makers of flat-panel TVs earn economic profits during the first few months after the introduction of new models?
b) What economic forces result in the dissipation of economic profits earned by manufacturers of flat-panel TVs?
- Get a Booster Class
- Get college credits
- Transfer credits to your school
- We updated the core navigation of the site.
- We updated our settings and notifications.
- We updated our search experience.
- New Study Guides.