Economics

Questão	Responda
specifies the maximum output that can be produced with a given quantity of inputs	the production function
is the total amount of output produced in physical units	total product
is the extra output produced by one additional unit of input holding the other inputs constant	Marginal product
is the total output divided by the total units of inputs	Average product
will be less and less when we add units of inputs while holding the other inputs constant	The law of diminishing returns
In this case, the output change is proportional to the change of all of the inputs	Constants Return to Scale
its when a balanced increase of all of the inputs leads to a less than proportional increase in the total output	Decreasing returns to scale
also called economies of scale	increasing returns to scale
In this case output increases more than proportionally to the increase of the inputs. or arise when an increase in all inputs leads to a more than proportional increase in the level of output	Increasing returns to scale
is the period where firms can adjust production by changing some production factors such as labor and raw materials	the short run
run is the period of time where firms can change all productions factors including capital.	The long run
occurs when new engineering knowledge improves production techniques for existing products	process innovation
is when new or improved products are introduced in the marketplace	product innovation
measures the ratio of the total output to a weighted average of the inputs	productivity
is the productivity of only the workers, holding all other inputs constant	labor productivity
consider most of the time capital and labor	total factor productivity
productivity arise from	economies of scale and technological change
is the total amount of cost given a level of production.	The total cost
are the costs that are independent to the level of production	The fixed costs
are the ones that depend on the level of production	the variable costs
. It refers to the cost of the last produced unit	Marginal cost
is the total cost divided by the total amount of units produced	The average cost
When the marginal cost is below the average cost is below the average cost, the average cost is	decreasing
when the marginal cost is over the average cost, the average cost is	increasing

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	Criado por Diana Hernandez mais de 6 anos atrás