What price you can charge for your remodeling services

Assignment Help Microeconomics
Reference no: EM13213509

Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happen to

a. Your firm's costs of production? Explain

b. The price you can charge for your remodeling services? Why?

c. Profits in home remodeling? Why?

Reference no: EM13213509

Questions Cloud

Compute the mass percentage and the mole fraction : Calculate (a) the mass percentage, (b) the mole fraction, (c) the molality, (d) the molarity of H2SO4 in this solution.
Define what evidence might you bring to the hearing : Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the same market will increase market power.
Concerning ring satellites of the planets : Which of the following statements concerning ring satellites of the planets is true?
State what amount of methane gas is present in a sample : what amount of methane gas is present in a sample that has a volume of 500mL at 35.o degrees celcius
What price you can charge for your remodeling services : Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happen to a. Your firm's costs of production
Explain the molarity of a solution of calcium hydroxide : What is the molarity of a solution of calcium hydroxide, Ca(OH)2, if 339 mL is neutralized with 41.51 mL of a 0.304 M HCl?
The ceo and the location managers help the business to grow : How would creating a new position between the CEO and the location managers help the business to grow?
What should company do if the mc of production is 1dollar : the elasticity of demand on the part of animal owners is -2.0. The research also estimates that at this price the elasticity of demand for human use would be -.2. The current price is $5.00 per dose. If the MC of production is $1, what should the ..
Explain the end of the titration is determined by the color : Calculate the concentration of the Na2S2O3 solution if 30.70 mL of a 0.2210 M I2 solution react exactly with a 100.0 mL sample of the Na2S2O3 solution.

Reviews

Write a Review

Microeconomics Questions & Answers

  What is real autonomous consumption

The Multiplier in a country is equal to 5, and households pay no taxes. At the current equilibrium real GDP of $14 trillion, total real consumption spending by households is $12 trillion. What is real autonomous consumption (A) in this country

  Differences in the productive and allocative

Compare and contrast each market structure. Make sure to discuss the differences in the productive and allocative efficiency when comparing and contrasting.

  Pricing and competitive strategies

Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.

  Household better or worse off with the higher interest rate

w suppose that the interest rate falls to 50%, and the household decides not to borrow or lend at alll. Is the household better off or worse off with the higher interest rate?

  To determine the equivalent present worth for the investment

A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year. each successive year yields a return that is $3,000 less than the previous year's return.

  Capital and labor elasticity of production

what are the capital (k) and labor (L) elasticities of production? What do these elasticities tell you? Log Q=-1.5+.52log k+.65log L

  Find the marginal rate - exchange economy

Find the marginal rate of substitution for both individuals and is the initial allocation pareto efficient

  Why does increasing productivity index effect total product

Why does increasing productivity index effect the total product and marginal cost When the productivity index is moved from 0% to 25% Total product increases and the marginal cost decreases.

  What is the firm inverse demand function

Assume you're the manager of Alpha Enterprises, a firm that holds the patent that makes it the exclusive manufacturer of bubble memory chips. Based on the estimates provided by the consultant

  The cost of producing pastries and sandwiches in northland

The table lists the maximum feasible hourly rates of the production of pastries if no sandwiches are produced and the maximum feasible hourly rates of the production of sandwiches if no pastries are produced.

  Determine the equilibrium outcomes or a pooling

The monetized disutility of getting an MBA degree (including the actual cost) is $10,000 for a motivated worker and $20,000 for the unmotivated worker. An employer does not know workers' motivation level.

  Two methods can a less developed country use for

What two methods can a less developed country use to finance its economic development. internal financing & debt rescheduling or else.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd