tag:blogger.com,1999:blog-22097549.post18878589610907788..comments2023-11-03T03:37:19.021-05:00Comments on The World of AP Econ: Undecided on how to review... :)KMhttp://www.blogger.com/profile/07723156884341428020noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-22097549.post-74571306681137205182007-05-04T10:46:00.000-05:002007-05-04T10:46:00.000-05:00Diminishing returns actually looks at over time, h...Diminishing returns actually looks at over time, how much of X is happening. In almost all cases, the more you do something (the more you make, the more you buy), the less utility (pleasure) you get out of it. That's diminishing returns. <BR/><BR/>It's actually tied more closely to economies of scale rather than diseconomies of scale. With economies of scale, look at a LR ATC curve. The lowest point is constant returns to scale. Anything to the left of that point show economies of scale - that as Q increases, ATC is falling. Anything to the right of constant returns to scale is a diseconomy of scale - that as Q continues to rise, ATC starts rising again.KMhttps://www.blogger.com/profile/07723156884341428020noreply@blogger.comtag:blogger.com,1999:blog-22097549.post-44090532577571834192007-05-03T11:08:00.000-05:002007-05-03T11:08:00.000-05:00thanks for the encouragement, mrs. m.I was looking...thanks for the encouragement, mrs. m.<BR/>I was looking over some review questions, and what exactly is the difference between diminishing returns and diseconomies of scale? Is diminishing returns simply a matter of quantity where diseconomies of scale is related to marginal costs?joellebhttps://www.blogger.com/profile/03451055996486695614noreply@blogger.comtag:blogger.com,1999:blog-22097549.post-74672193963288319222007-05-03T10:40:00.000-05:002007-05-03T10:40:00.000-05:00you saw the light! :)Yes, gum would be excludable...you saw the light! :)<BR/><BR/>Yes, gum would be excludable and rival, a private good. I can stop you from using it (either from buying it, using mine, or having it in the classroom), and if you use it, I definitely don't want it. Pretty much anything that you own would be considered a private good.<BR/><BR/>After the unit 4 test, I will be bombarding you with all kinds of things to take home and work on in class. We will be reviewing, practicing FRQ, m/c, diagnostics...all kinds of fun!<BR/><BR/>I'm just waiting until after the test because we need to finish up this last stuff first. I'm trying to keep the confusion down as much as possible.KMhttps://www.blogger.com/profile/07723156884341428020noreply@blogger.comtag:blogger.com,1999:blog-22097549.post-88278447971119682482007-05-02T23:10:00.000-05:002007-05-02T23:10:00.000-05:00will we be getting practice frq and multiple choic...will we be getting practice frq and multiple choice questions to take home in the next week and days? I think I would like practice with the whole test so I know what all to expect and how much sleep to lose over this ;) just kidding, becaue I am going to study. I haven't lost hope. Well I did But then I retook that test and I saw the light.kerihttps://www.blogger.com/profile/10444454550128008993noreply@blogger.comtag:blogger.com,1999:blog-22097549.post-49163902948742257172007-05-02T23:08:00.000-05:002007-05-02T23:08:00.000-05:00well. I am thinking about the things we discussed ...well. I am thinking about the things we discussed today in class and I am still trying to get down some of the differences. Would gum be both excludable and rival? So that would be private right? Because wouldn't gum be like kleenex? I don't know all I could think of was gum the whole time you were teaching today, wondering what kind of good that would be.kerihttps://www.blogger.com/profile/10444454550128008993noreply@blogger.com