subject
Business, 03.12.2019 23:31 reearamrup27

Devra gartenstein, a restaurant owner, made the following observation about preparing food: "cooks become increasingly less productive as a kitchen becomes increasingly crowded." source: devra gartenstein, "law of diminishing marginal returns in restaurant operations," smallbusiness. chron.

what do economists call the problem she is describing? what are its implications for the marginal product of labor for cooks?
(a) diminishing marginal returns, where additional cooks produce less additional output.
(b) increasing marginal returns, where additional cooks produce additional output.
(c) fixed inputs, where additional cooks do not produce additional output.
(d) negative marginal returns, where additional cooks reduce the output produced.

do restaurant owners have a solution to this problem in the long run? briefly explain.
(a) yes, restaurant owners can solve this problem by adding more cooks.
(b) yes, restaurant owners can vary the size, or number, of kitchens.
(c) no, restaurant owners cannot solve this problem.
(d) yes, it is possible to solve this problem with economies of scale.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 15:30
Which of the following statements accurately describes how costs and benefits are calculated?
Answers: 3
question
Business, 21.06.2019 23:30
Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below
Answers: 1
question
Business, 22.06.2019 03:20
Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.
Answers: 3
question
Business, 22.06.2019 11:20
Security a has a higher standard deviation of returns than security b. we would expect that: (i) security a would have a risk premium equal to security b. (ii) the likely range of returns for security a in any given year would be higher than the likely range of returns for security b. (iii) the sharpe ratio of a will be higher than the sharpe ratio of b. (a) i only (b) i and ii only (c) ii and iii only (d) i, ii and iii
Answers: 1
You know the right answer?
Devra gartenstein, a restaurant owner, made the following observation about preparing food: "cooks...
Questions
question
Chemistry, 17.03.2021 23:50
question
Physics, 17.03.2021 23:50
question
Physics, 17.03.2021 23:50
question
Mathematics, 17.03.2021 23:50
question
Mathematics, 17.03.2021 23:50
Questions on the website: 13722360