When a Small Gear Is Meshed with a Much Larger

question 86

Essay

When a small gear is meshed with a much larger gear, the input gear is often called a ___________________ gear, regardless of its tooth design.

Apply the law of diminishing marginal returns to short-run production scenarios.

Determine the effect of changes in input or output levels on a firm's cost and revenue.

Calculate opportunity costs in different scenarios.

Analyze the characteristics and implications of a natural monopoly.