The marginal cost curve is U shaped in the short run because of the law of diminishing returns. At this stage, the total cost as well as variable cost... See full answer below.Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question ...
In Fig. 19.7, we have drawn the long-run average cost curve as having an approximately U-shape. It is generally believed by economists that the long-run average cost curve is normally U shaped, that is, the long-run average cost curve first declines as output is increased and then...
First, deviations of the growth rate from its long-term average cannot be endogenously realised. To generate an initial deviation, we would have to rely on an ‘MIT shock’: a sizeable and unexpected one-time shock to the system that is entirely external to the model in the sense that ...
Why isn't the supply curve U- shaped if it represents the marginal costs to producers? Why is it important to release a good product to achieve an increase in demand and supply? Explain how the increase in incomes and productivity affect asset...
It sounds to me like your THR variable is a time to event, i.e. from creation to declaration of human right. These things are often measured as a hazard ratio (HR) [google bathtub hazard curve], and in this case, is a measure of the instantaneous risk that a CP is declared...
Why is the marginal cost curve swoosh shaped? Why is the MC (marginal cost) curve U-shaped? Can you explain why firms will sell at any positive price, whenever the marginal cost is higher than the average variable cost in the short-run? Why isn't the supply curve U- shaped if it re...
Why do we refer to the marginal cost curve even though its the same as the supply curve as one is U-shaped and the other is upwards sloping? Explain the reason for the aggregate supply curve to be steeper. Explain why the price of oil tends to fall when there is a surp...
We anchored a colourimetric probe, comprising a complex containing copper (Cu(II)) and a dye, to a polymer matrix obtaining film-shaped chemosensors with induced selectivity toward glycine. This sensory material is exploited in the selectivity detection of glycine in complex mixtures of amino acids...
They present figures that seem to bear this out, and they interpret the shorter learning curve in the second shift with the fact that the human experience that improved the ramp-up is then quickly transferred into objective knowledge "( . . . ) embodied in the organizational capital of the ...
They present figures that seem to bear this out, and they interpret the shorter learning curve in the second shift with the fact that the human experience that improved the ramp-up is then quickly transferred into objective knowledge “(…) embodied in the organizational capital of the plant”...