multiple choice q help (1 Viewer)

kkk579

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Why is the answer B for q10 cos a shift in LRACScreenshot_20240402_180837_Drive.jpg downwards would mean external economies of scale right? I thought the answer would be D bcos isnt B more of an internal reason? Doesnt a firm have control over how efficient it works
 

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downwards can be both internal and external economies of scale

accessing a greater market β‰  decrease in cost necessarily it js means you can have increased demand – if they said specialisation specifically maybe

but by definition operating more efficiently means more output per unit input so decrease in price = more efficient

a firm doesnt necessarily have control over how efficient it works, consider if it was that way, a firms efficiency would go down forever and there wouldn't be technical optimum
e.g if you have a really shitty manager and the higher ups don't know
 

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downwards can be both internal and external economies of scale

accessing a greater market β‰  decrease in cost necessarily it js means you can have increased demand – if they said specialisation specifically maybe

but by definition operating more efficiently means more output per unit input so decrease in price = more efficient

a firm doesnt necessarily have control over how efficient it works, consider if it was that way, a firms efficiency would go down forever and there wouldn't be technical optimum
e.g if you have a really shitty manager and the higher ups don't know
nerd ^ πŸ€“πŸ€“πŸ˜Ž
 

kkk579

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downwards can be both internal and external economies of scale

accessing a greater market β‰  decrease in cost necessarily it js means you can have increased demand – if they said specialisation specifically maybe

but by definition operating more efficiently means more output per unit input so decrease in price = more efficient

a firm doesnt necessarily have control over how efficient it works, consider if it was that way, a firms efficiency would go down forever and there wouldn't be technical optimum
e.g if you have a really shitty manager and the higher ups don't know
Oh i thought the LRAC shifting was only for external thats what atomi said 😭
 

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guys i also fucked both my chem and physics exam (chem cos of silly mistakes and physics cos the exam was js fucken stupid im ngl) πŸ’€ i wanna kms
NEVER GIVE UP NEVER WHAT??- Nick eh 15

'how do you expect to get material if u didn't take the time to farm?' - nick eh 15
'We only care about the old map once the new one is formed'
'People with scars, are always the strongest'
 

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i give up atp i hate everything
If ur rlly desperate js come to my school lmfao. their sci assessments are pre chill. only prob tho is that we'll have to turn u into a dude and also teach u bro code 😎
 

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guys i also fucked both my chem and physics exam (chem cos of silly mistakes and physics cos the exam was js fucken stupid im ngl) πŸ’€ i wanna kms
in all srsness tho this is exactly y i dont check my answers after i finish an exam bc I get stressed and sad after I cant rlly do anythign ab it. My suggestion is to just not investigate too much bc it will only lead to more stress hearing ur peers' answers. 'Let fate decide if u do well or bad' is my qhole mindset to this ngl.
 

kkk579

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@Aeonium Im also so confused on what this q means, do u mind explaining? im confused on the part where it says "operating on its ppf" what does that even mean 😭

Outline 2 ways an economy, acting on its production possibility frontier, can achieve economic growth.
 

kkk579

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in all srsness tho this is exactly y i dont check my answers after i finish an exam bc I get stressed and sad after I cant rlly do anythign ab it. My suggestion is to just not investigate too much bc it will only lead to more stress hearing ur peers' answers. 'Let fate decide if u do well or bad' is my qhole mindset to this ngl.
LMAO fate???
 

Aeonium

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@Aeonium Im also so confused on what this q means, do u mind explaining? im confused on the part where it says "operating on its ppf" what does that even mean 😭

Outline 2 ways an economy, acting on its production possibility frontier, can achieve economic growth.
production possibilites frontier it's like the quarter circle curve uhhh

acting on ppf... id assume it means like the balance between consumer and capital goods e.g if you buy more capital goods u will get economic growth bcz evnetually u can produce more stuff and i think a higher point on ppf can satisfy consumer wants better
Oh i thought the LRAC shifting was only for external thats what atomi said 😭
i dont trust atomi πŸ˜ƒ hate it sm
 

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sorry for the delay btw i wanted to do an internal paper and i got bored (finished) in like 1/2 the time πŸ’€ dsfnj sdlf
 

kkk579

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production possibilites frontier it's like the quarter circle curve uhhh

acting on ppf... id assume it means like the balance between consumer and capital goods e.g if you buy more capital goods u will get economic growth bcz evnetually u can produce more stuff and i think a higher point on ppf can satisfy consumer wants better

i dont trust atomi πŸ˜ƒ hate it sm
Oh so do i explain both situations - when capifal goods are high and how this results in economic growth, and also when consumer goods are high and how this results in economic growth? like do i just say when capital goods are high this means there is more production potential for the future and thus we are able to make more goods and services later on which results in more buying and selling --> economix growth and same for the other case?
 

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