Question

Economies of scale basically means that the producer is able to increase output without a significant...

Economies of scale basically means that the producer is able to increase output without a significant increase in costs. Do you think that colleges are subject to economies of scale? Why or why not? Often an implication of economies of scale is that the producer is efficient. Is the college efficient? Why or why not?
10 sentences

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer : College is subject to economics of scale because it can increase number of graduates from the college by increasing classroom size, more student can attend the same class of a single lecturer resulted in increasing graduates but not increasing the costs. Efficiency of college in achieving economics of scale depend upon the capability of the resources and funds available with the college. If resources are efficient than producer or college achieved economics of scale in there academics as vica- versa.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Question 3. Automobile manufacturing is an industry subject to significant economies of scale. Suppose there are...
Question 3. Automobile manufacturing is an industry subject to significant economies of scale. Suppose there are four domestic auto manufacturers, but the demand for domestic autos is no more than 2.5 times the quantity produced at the bottom of the long-run average cost curve. What do you expect will happen to the domestic auto industry in the long run?
10) which one is not correct about barriers to entry? a- Economies of scale act as...
10) which one is not correct about barriers to entry? a- Economies of scale act as a barrier to entry because firms must be able to produce at least the minimum efficient scale in order to minimize costs b- An increase in demand can reduce the importance of economies of scale as a barrier to entry c- Sunk costs can never affect the existence of barriers to entry and exit d- Production technologies can account for the gap between average...
g 1) Farmers can plant either corn or soybeans in their fields. Which of the following...
g 1) Farmers can plant either corn or soybeans in their fields. Which of the following would cause the supply of soybeans to increase? A) an increase in the price of soybeans B) a decrease in the price of corn C) an increase in the demand for corn D) an increase in the price of soybean seeds E) an increase in the price of tomatoes 2) For a perfectly competitive firm, which of the following is not trueat profit maximization?...
12.Suppose that MR = MC = $3 at an output level of 2,000 units. If a...
12.Suppose that MR = MC = $3 at an output level of 2,000 units. If a monopolist produces and sells 2,000 units, charging a price of $6 per unit and incurring average total cost of $5 per unit, the monopolist will: a.earn profit equal to $2,000. b.earn profit equal to $6,000. c.choose to sell fewer than 2,000 units in order to charge a higher price. d.choose to sell more than 2,000 units in order to increase revenue. 13.A monopoly produces...
Consider a publicly available technology of producing a good that is characterized by the variable cost...
Consider a publicly available technology of producing a good that is characterized by the variable cost function VC (Q) = (1/2)Q2 and fixed costs FC = 2 for a firm that operates the technology. In the short run, fixed costs are unavoidable. In the long run, fixed costs are avoidable and it is free for any firm outside of the market to enter, should it want to. In the short run, the set of firms in the market is fixed....
1. Compared with a perfectively competitive market a monopoly is inefficient because                    a. it raises...
1. Compared with a perfectively competitive market a monopoly is inefficient because                    a. it raises the market price above marginal cost and produces a smaller output.             b. it produces a greater output but charges a lower price.             c. it produces the same quantity while charging a higher price.             d. all surplus goes to the producer.             e. it leads to a smaller producer surplus but greater consumer surplus. 2. The demand curve of a monopolist typically...
Problem-Solving Case: Motivating Employees at Nucor Corporation Today Nucor Corporation is the largest producer of steel...
Problem-Solving Case: Motivating Employees at Nucor Corporation Today Nucor Corporation is the largest producer of steel in the United States, so it is hard to believe it was once an underdog in a struggling industry. What has set the company apart is a focus on moti- vating and empowering employees. The employee focus is illustrated by the custom of printing each individual’s name on the cover of Nucor’s annual report. But the concern for employees is much more practical and...
Suppose you expect a significant career or family change in three years, which requires substantial initial...
Suppose you expect a significant career or family change in three years, which requires substantial initial capital commitment (e.g., starting your own business, relocating abroad, buying a house, children going to college, etc.). Which of the following seems to be the most appropriate investment strategy? ____ a. Take a loan to buy an investment condo. b. Use your savings to buy a small number of stocks that you believe to rise in price. c. Use your savings to buy well-diversified...
Question 1 When a production facility is in production and running well, it adds a new...
Question 1 When a production facility is in production and running well, it adds a new worker. You would expect this worker to produce more than prior workers. less than prior workers. the same as prior workers. Question 2 "Fill in the blank" question: select the correct answer. When production is just beginning, more efficient use of each input can be achieved by -Select- adding new variable inputs adding new fixed inputs reducing fixed inputs reducing variable inputs Question 3...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean always equals the population mean. The average sample mean, over all possible samples, equals the population mean. The sample mean will only vary a little from the population mean. The sample mean has a normal distribution. 2.Which of the following statements is CORRECTabout the sampling distribution of the sample mean: The standard error of the sample mean will decrease as the sample size increases....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT