Individuals whose current health status is poor will likely derive larger marginal utilitybenefits from improved health status than persons whose current health status isgood or excellent.O TrueO FalseWhich of the following is true concerning long-run diseconomies of scale inproduction?It is the result of too many fixed inputs used in the production processIt is associated with decreasing long run average cost of productionIt is the result of increased labor/capital specializationIt is associated with increasing long run average cost of production

Marginal utility is the extra utility received from consuming one additional unit of the commodity…

Individuals whose current health status is poor will likely derive larger marginal utility benefits from improved health status than persons whose current health status is good or excellent. True False

Individuals whose current health status is poor will likely derive larger marginal utility benefits from improved health status than persons whose current health status is good or excellent. True False

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.9P

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Question

Individuals whose current health status is poor will likely derive larger marginal utility
benefits from improved health status than persons whose current health status is
good or excellent.
O True
O False
Which of the following is true concerning long-run diseconomies of scale in
production?
It is the result of too many fixed inputs used in the production process
It is associated with decreasing long run average cost of production
It is the result of increased labor/capital specialization
It is associated with increasing long run average cost of production

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