+1-415-670-9189
info@expertsmind.com
Upward or downward shift in the long run average cost curve
Course:- Business Economics
Reference No.:- EM131004927




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Economics

1. Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing, or uncertain effect on the level of average cost: A) a rise in wage rates; B) a decline in output; C) an energy -saving technical change; D) a fall in the interest rates; E) an increase in learning experience

2. St. Thomas Winery plans to reopen a new production facility in the Napa valley of California.

Based on information provided by the accounting department, the company estimates fixed costs of $250,000 per year and average variable costs of

AVC = $10+ $0.01Q

Where AVC is average variable cost (in dollars) and Q is output measured in cases of output per year.

Estimate total cost and average total cost for the coming year at a projected volume of 4000 cases.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
The World of Videos operates a retail store that rents movie videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $29,000 per year.
If a nation has an open economy, it means that the nation: In Adam Smith's trade model, labor is the only factor of production and the labor theory of value is the basis for c
Explain a series of oil related inventions between 1910 - 1945. Explain the process how either Germany or Japan developed the oil industry through the end of World War II. Exp
The stock market is booming and everyone is making money with their stock portfolios. At the same time, all business taxes have been increased by 20% as the government tries t
A friend of yours has just returned from desert island where she was stranded alone since January 2009. Having completed Econ. 104 just prior to arriving on the desert island
Mathematical Oligopoly Problem. Suppose a duopoly is operating using the following information. The firms are denoted Firm a and Firm b. Use the Cournot solution method to fin
American smoke 470 billion cigarettes and the average price per pack was $2. If the price elasticity of demand is -0.4 and price elasticity of supply is 0.5, compute the dem
Find the demand for L and R. (Hint: Use your result from part 3 and the budget constraint.) Now assume that the price of right shoes increases. What will be the substitu- ti