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Why does marginal cost rise as production increases?
Marginal cost is equal to the ratio of change in total cost or total variable cost to change in quantity of output. Marginal cost increases as total product increases since it reflects the law of diminishing marginal returns.
If marginal utility is positive but diminishing then?
Total utility increases at a diminishing rate
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
When do diminishing marginal return occurs?
Diminishing returns occur when a function satisfies Innada conditions or, to bemore specific, when:The first derivative of the function is positiveThe second derivative of the function is negative.Diminishing describes the tendency of increases in returns to decline asymptotically towards zero.
Does total output starts falling when diminishing returns occur?
Yes
Why does marginal cost rise as production increases?
Marginal cost is equal to the ratio of change in total cost or total variable cost to change in quantity of output. Marginal cost increases as total product increases since it reflects the law of diminishing marginal returns.
If marginal utility is positive but diminishing then?
Total utility increases at a diminishing rate
The law of diminishing marginal utility or satisfaction states that each additional unit of a product consumed will increase total satisfaction at what rate?
The law of diminishing marginal utility states that the total satisfaction derived from each additional unit of a product consumed decreases as more units are consumed. This means that the rate at which total satisfaction increases diminishes with each additional unit consumed.
Relationship between total and marginal product?
Total product is the sum of all marginal products.
Explain how the diminishing returns influences the shape of the variable cost and total cost curves?
how diminishing returns influences the shapes of the variable-cost and total-cost curves
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
When average product is highest Options Total product is maximum Marginal product is maximum Marginal product is zero Marginal product is negative?
Negative
What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?
23w
When do diminishing marginal return occurs?
Diminishing returns occur when a function satisfies Innada conditions or, to bemore specific, when:The first derivative of the function is positiveThe second derivative of the function is negative.Diminishing describes the tendency of increases in returns to decline asymptotically towards zero.
Does total output starts falling when diminishing returns occur?
Yes
When the total product remains constant the marginal product will be?
Zero
When total product is maximized marginal product is?
mp = 0
