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When a production function gets flatter the marginal product is increasing?
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∙ 12y ago
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∙ 12y ago
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Give details that why an Indifference Curve is not concave?
Because of diminishing marginal rate of substitution, which is the principle that the more of one good a consumer has, the more they are willing to give up for an additional unit of the other good. Therefore the indifference curve must get flatter as we go along it
Can marginal rate of substitution may increase or decrease in absolute value as one moves southeast along an indifference curve depending upon whether the substitution or income effect is dominant?
Indifference curves are downward sloping (negative slope) - therefore they are flatter towards the south east. the marginal rate of substitution is defined as the amount of good y (along the y axis) that is necessary to substitute for 1 good x (along the x axis) so that the effective bundle (or utility) remains the same. In effect the MRS is the slope of the indifference curve at a particular point. Therefore, MRS decreases as you move southeast along an indifference curve.
What are the ways in which today's business organizations in the US differ from those a century ago?
There are: Creative Freedom, Competitive Work Teams, and a flatter organizations
What is the relationship between net exports and GDP?
The relationship between ne exposts and GDP makes the slope of the ae curve flatter than it would be otherwise
Why price rigidity in oligopoly firm?
Kinked demand curve theoryThis was developed in the late 1930s by the American Paul Sweezy. The theory aims to explain the price rigidity that is often found in oligopolistic markets. It assumes that if an oligopolist raises its price its rival will not follow suit, as keeping their prices constant will lead to an increase in market share. The firm that increased its price will find that revenue falls by a proportionately large amount, making this part of the demand curve relatively elastic (flatter).Conversely if an oligopolist lowers its price, its rivals will be forced to follow suit to prevent a loss of market share. Lowering price will lead to a very small change in revenue, making this part of the demand curve relatively inelastic (steeper).The firm then has no incentive to change its price, as it will lead to a decreasein the firm's revenue. This causes the demand curve to kink around the present market price. Prices will further stabilize as the firm will absorb changes in its costs as can be seen in the diagram below. The marginal revenue jumps (vertical discontinuity) at the quantity where the demand curve kinks, the marginal cost could change greatly - e.g., MC1 to MC2 (between prices a and b)- and the profit maximizing level of output remains the same.
Why does increasing the size of the interval used in the vertical scale of a line graph make the line seem flatter?
increasing the interval would decreasing the degrees of accuracy of the graph, optically the line seem flatter
What is the effect of changing the number of impeller blades?
Normally, by increasing number of vanes, curve shape becomes flatter and flow increases
What role does heat play in bread making?
The heat increases the yeast production making it rise and be fluffy. The less yeast you put in the flatter the bread will be.
How do you flatter a king or queen?
You flatter them with an esteem roller
When was Ron Flatter born?
Ron Flatter was born in 1959.
How does the words fifteen and flatter alike?
How is is fifteen and flatter alike
What is a sentence with the word flatter?
Keizuru examined herself in the mirror. She loved the color of the dress, but she though that the cut didn't flatter her body.
How do fifteen and flatter alike and how are they different?
how are fifteen and flatter alike and different
What word beginning with fl mean to praise a person more than he deserves?
flatter
Give details that why an Indifference Curve is not concave?
Because of diminishing marginal rate of substitution, which is the principle that the more of one good a consumer has, the more they are willing to give up for an additional unit of the other good. Therefore the indifference curve must get flatter as we go along it
How would you use the word flatter in a sentence?
Flatter is a verb that means to give excessive or insincere praise. It can be used in the following possible sentences:I hate it when people flatter me.The man wanted to go on a date, so decided to flatter the woman.Sometimes a man will flatter his wife so that she won't get mad.
What are the characteristics of the FlipFold products?
"FlipFold" products enable the user to fold their garments, ready for storage, without creasing. The products also allow the user to fold the garment much flatter, increasing space.
