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What else can I help you with?
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
Is the optimum level of production the same as the profit maximization level of output?
"Optimal" can be defined in various ways. When looking from a profit maximization viewpoint, the level of production with the highest (return/cost) ratio will be the optimal. However, when looking purely from a productive viewpoint, the optimal level would be the one with the highest (output quantity/input quantity) ratio
The demand curve any monopolist uses in making output decisions is?
the same as the market demand curve.
What is potential output in macroeconomics?
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
Do the fixed costs increase as output increases?
No these are costs such as rent stay basically same irrespective of output
Is the suns output always the same?
NO!
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
What is the function rules of input and output?
The rule is what actions (operations) the function performs. The only requirement is that for each imput there is an output and that the same input always results in the same output. (Different inputs can have the same output).
Is the optimum level of production the same as the profit maximization level of output?
"Optimal" can be defined in various ways. When looking from a profit maximization viewpoint, the level of production with the highest (return/cost) ratio will be the optimal. However, when looking purely from a productive viewpoint, the optimal level would be the one with the highest (output quantity/input quantity) ratio
What are the 3 main characteristics of a function?
Each input has only one output. The same input will always produce the same output. The function can be represented by an equation or a graph.
The demand curve any monopolist uses in making output decisions is?
the same as the market demand curve.
Why is the output force always less than the input force in the third class lever?
Because the output distance is always greaterthan the input distance,and the product of (force) x (distance) is nearly the same on both ends.
What is potential output in macroeconomics?
Potential output is the capacity to produce should all factors be employed in an economy. For example, it is the output should there be no unemployment, no spare labour and no spare capital. It is unlikely that actual output will be the same as potential ouput since there is always unemployment.
How did china's geography affect its relationship with the rest of the world?
the same as it does today. China has always ruled the world market and always will.
What are the differences between capital allocation line CAL and capital market line CML?
CML = CAL for the entire market, assuming everyone has the same mean variance expectations ( E(R), variances, correlations). CAL is just the CML for individual investors. CAL and CML both combine the risk free asset with the optimal portfolio, only with CML that optimal portfolio is the market portfolio (tangency point of CML).
What process do you need to have the following output?
The process that you need to do the following output depends on what the output is. The process you do to get one output would not be the same process you do to get a different output.
Is the input in a function table supposed to be the same as the rest of the input?
No, because then the output would be the same as the rest of the output(s).
