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Why would a tractor firm shut down some plants rather than keep all of its plants running at reduced output levels?
If you reduce output level you will reduce some costs (materials, power usage, etc.) but there are still many types of costs that remain at the same level. So, when you reduce output, your products will have a higher unit cost of production. And they will be less competitive.
How a monopoly firm will not achieve allocative efficiency?
They produce at a different point than a competitive firm, a monopoly produces at a point where marginal revenue= marginal cost, where a competitive firm equates price to marginal cost. The marginal cost curve is lower than the demand curve, but the monopoly charges the price at the demand curve, which is a higher price and a lower quantity than a competitive market would produce.
What are the three ways in measuring a business?
.By sales or revenue turnover,example a small firm might have a turn over of less than 6 million and a medium size firm might have less than 20 million. .By the number of employees ,example a small firm might have about 50 or less employees while a medium firm could have between 50 and 200 employees. .By the total capital employed in a the business,example a small firm could have less than 5 million on their balance sheet whilst a medium firm could have between 5 to 20 million on theirs.
When charted on a graph producing possiblities frontiers tend to curve because they show?
the increasing costs resulting in increasingly less output
What is meant by 'law of diminishing returns'?
At some point in any process, effort expended eventually produces less and less return. As an example, weeding a garden produces great results in the first hour or so, but further effort produces less and less result.
Why would a tractor firm shut down some plants rather than keep all of its plants running at reduced output levels?
If you reduce output level you will reduce some costs (materials, power usage, etc.) but there are still many types of costs that remain at the same level. So, when you reduce output, your products will have a higher unit cost of production. And they will be less competitive.
When an organization can get optimal production?
this is obtained when a firm equates its marginal revenue to its marginal cost.At a level of output where MR exceeds MC,then the firm should increase output since the addition to revenue is greater than the addition to revenue.Where a firm's MR is less than its MC,the firm should lower its output since the addition to costs is greater than the addition to revenue.
When a firm hired its tenth worker its factory output increased by four units per month Would you expect the firm's output to increase by eight more units per month if the firm hired two more wo?
Depending on the marginal output of the workers at that level of output, an additional two could increase output my more than 8, exactly eight, or less than 8 units.
Why is the output work in a machine always less than the input work?
Every real machine is subject to forces that reduce output. These include actual forces such as friction, or human controlled forces such as imperfect machining. This reduces the output to less than the ideal.
In a real machine the work output is always less than the work input.?
Every real machine is subject to forces that reduce output. These include actual forces such as friction, or human controlled forces such as imperfect machining. This reduces the output to less than the ideal.
In a real machine why is the work output always less than the work input?
Every real machine is subject to forces that reduce output. These include actual forces such as friction, or human controlled forces such as imperfect machining. This reduces the output to less than the ideal.
What is quasi integration?
With quasi-integration, a firm internally produces less than half of its own requirements and buys the rest from outside suppliers.
Why input current of USis less than Output current?
Why input current of USis less than Output current?
Which type of diesel injections produces less noise?
Indirect injection (IDI) produces less noise.
When is mechanical advantage less than 1?
When the output is less than the input. Mechanical advantage is expressed as the ratio of the output to the input.
What is the difference between a step down chopper and a buck converter?
Choppers are dc - dc converters, on the basis of output voltage level step down chopper is used for output voltage less than input one. A buck converter is a step down chopper with a LC filter at the output end in order to reduce the voltage ripples.
Does reduce mean less or more?
less
