Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

Case B8 Diminishing returns in the bread shop Is the baker using his loaf?

Case B8Diminishing returns in the bread shopIs the baker using his loaf?Just up the road from where I live is a bread shop. Like many others, I often buy my bread there on a Saturday morning. Not surprisingly, Saturday morning is the busiest time of the week for the shop and as a result it takes on extra assistants.During the week only one assistant serves the customers, but on a Saturday morning there used to be five serving. But could they serve five times as many customers? No, they could not. There were diminishing returns to labour.The trouble is that certain factors of production in the shop are fixed:•

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question