Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
SHORT RUN EQUILIBRIUM OF THE FIRM
A firm is in equilibrium when it is maximizing its profits, and can't make bigger profits by altering the price and output level for its product or service.
In Short-run the firm may make super-normal profits as shown below:
The firm will produce output q where Marginal Revenue is equal Marginal Cost. At this level of output, the average cost is C. Hence the firm will make super-normal profits shown by the shaded area.
In the Short-Run however the firm does not necessarily need to make profits or cover all its cost. It may only need to cover Total Variable Cost.
The firm's short-run supply curve will be represented by the part of the Marginal Cost curve that lie above the AVC. The firm shall not produce unless the price is equal to P1. Below the price P1 the firm minimizes its cost by shutting down.
You have recently gained employment with a computer consultancy company. Due to your specialist knowledge in the areas of Human Factors and usability, your manager considers that y
what are the limitation of managerial economics and what is the solution of it?
FACTORS AFFECTING THE ABILITY OF TRADE UNIONS TO GAIN LARGER WAGE INCREASES FOR ITS MEMBERS The basic factor is elasticity of demand for the type of labour concerned. The ela
Question: (a) The regression results for the quantity demanded of good X is given by ln Q X = 1220 - 9.5 ln P X - 2.21 ln P Y + 1.01 ln M t values (5.3) (-5.1
Q. What is Labour Requirements on the production capacity? Labour Requirements: Spending on labour is one of the most vital elements of cost of production. Dependable and cor
Broader the range of other uses of a commodity, higher the price elasticity of its demand intended for the fall in price though less elastic for the increase in price. As price of
Q. Construction of an explanatory model? Construction of a sample: To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 indivi
Marginal Cost This is the increase in total cost resulting from the production of an extra unit of output. Thus, if TC n is the total cost of producing n
How does economic theory contribute to managerial decisions?
PROPORTIONAL TAX Is where whatever the size of income, the same rate or same percentage is charged. Examples are commodity taxes like customs, excise duties and sales tax.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd