Microeconomics

Running head : NameInstitutionCourseTutorDateThe point of diminishing bare(a) returns is reached when as the stimulations employ in work atomic number 18 increase , with all(a) other variables being held constant , the outputs progressively decrease . In relation to my studies I may recognize my position at the bare(a) returns point when even after successively employing a flowerpot effort in my studies my academic performance shows a downward trend . In this case , I will crawfish out reached the diminishing marginal returns point because incremental academic efforts issue in progressively lower grades . Further , the efforts employed in academics will non be commensurate to the corresponding avail in gradesIn this lesson we have learnt about fixed cost . These are the be that do not vary with the output evaluate . T he equivalents of these cost in my academics are the duration period which I worn out(p) in classes .

Such time period does not put on the eventual academic output - grades Conversely , marginal be are the cost that vary with the tot of input injected into production . Marginal costs are signified by the bare costs incurred in production . In my academics , marginal costs are represented by the time that I played out while conducting cliquish studies Increased private test time leads to improved grades . Finally opportunity cost is the amount incurred in the production of a single product . Relating such cos ts to my academics , the pleasures that are ! shelved as I pursue studies , exceptional private studies , represents the opportunity cost . For example , other than studying , I can...If you want to get a full essay, dedicate it on our website: OrderCustomPaper.com

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