ECO 204 Week 3 Discussion 1 | Assignment Help | Ashford University
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- 03 Dec 2020
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ECO 204 Week 3 Discussion 1 | Assignment Help | Ashford University
Week 3 - Discussion 1
Production in the Short Run
Sarah owns a bakery
that has four ovens, one full-time exempt administrative employee, and eight
part-time hourly bakers.
Based on this
information, respond to the following:
·
Distinguish between the short run and the long run. What will
differentiate the short run and the long run?
·
Describe fixed inputs and variable inputs. Which inputs are fixed and
which are variable in Sarah’s bakery?
·
Why would marginal productivity decline after a certain level of
production?
·
How can this problem of diminishing returns or marginal productivity be
reduced or removed?
Your initial post
should be a minimum of 300 words.
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