economic applications project, Microeconomics

Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in the long run.
Assume that all firms in an industry have access to the same technology of production. Using diagrams, demonstrate the relationship between the short run and long run total cost functions, and between the short run and long run average and marginal cost functions. Using an example in which the total cost is a cubic function, show how the most common diagrammatic explanation of profit maximisation in textbooks requires an assumption of eventually diminishing returns to scale, and discuss the plausibility of that assumption.
Posted Date: 10/24/2012 6:40:30 PM | Location : United States







Related Discussions:- economic applications project, Assignment Help, Ask Question on economic applications project, Get Answer, Expert's Help, economic applications project Discussions

Write discussion on economic applications project
Your posts are moderated
Related Questions
What is corporate governance? Why is it important for board of directors to ensure good corporate governance within a company? Students need to define corporate governance concisel

what is the theory of second best? prove the theorem with the help of a diagram.

Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co

Mercantilism:It is an economic theory from pre-capitalist times which held that a country's prosperity depended on its ability to produce large and persistent surpluses in its fore

Consider an economy with three states. The following set of stocks is traded:   x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4). The t=0 prices of these stocks are given as follow

Real and nominal GDP, GNP, and Intrest rates, Stock & flow variables, Disinflation, Inflation rates, unemployement rates, labor force, participation rate, output per person, GDP d

Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the

The production function for (a Music company ) their CDs is q= 25*K*L , where q is the number of CDs produced each month, K is the hours of equipment used, and L is the hours of la


current rate of gdp