Declining-increasing portion of long run average cost curve

Assignment Help Business Economics
Reference no: EM13886567

The minimum efficient scale for running a food truck is 50 orders per day. If students typically place 1000 orders at local food trucks, how many food trucks would you expect to see on campus? If a food truck was only selling 30 orders per day, would you expect it to be on the declining or increasing portion of its long run average cost curve?

Reference no: EM13886567

Questions Cloud

Price decreases and demand is elastic : Describe what will happen to total revenue in the following situations: Price decreases and demand is elastic. Price decreases and demand is inelastic. Price increases and demand is elastic
Calculate real and nominal GDP for both years : The chart below gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2001 as the base year.
What is the argument made by minimum wage laws critics : What is the argument made by minimum wage laws critics who argue that they create more unemployment than would otherwise be the case? Which Apple supplier has come under intense scrutiny (especially in China) these last few years over its labour prac..
What is the profit-maximizing output of the monopolist : What is the profit-maximizing output of the monopolist shown below? What is the monopolist’s markup over the competitive price? Levi’s has an advertising slogan: “Quality never goes out of style.” Consumers can buy other kinds of jeans, including off..
Declining-increasing portion of long run average cost curve : The minimum efficient scale for running a food truck is 50 orders per day. If students typically place 1000 orders at local food trucks, how many food trucks would you expect to see on campus? If a food truck was only selling 30 orders per day, would..
Set of statements contains common errors. : The following set of statements contains common errors. Identify and explain each error. Demand increases, causing prices to rise. Higher prices cause demand to fall. Therefore prices fall back to their original levels. The supply of meat in Russia i..
Calculate consumer surplus and hlps profit with that price : In Houston, Texas, there are 10 household each with a demand for electricity of Q = 60 – P. Houston Lighting and Power's (HLP) cost of producing electricity is. If the regulators of HLP want to make sure that there is no deadweight loss in this marke..
How the probabilities determine the quality of information : Explain how the (r, w) probabilities determine the quality of information: for perfect, for worthless, and imperfect better than pure chance information.
Assume that the values are all current and no conversions : Given the following information about the economy of Pakistan, calculate Pakistan\'s GDP. Note that the currency of Pakistan is the Rupee. Assume that the values are all current and no conversions need to be made.

Reviews

Write a Review

Business Economics Questions & Answers

  Price leadership by the dominant firm

Since under price leadership by the dominant firm, the firms in the industry following the leader behave as perfect competitors or price takers by always producing where the price set by the leader equals the sum of their marginal cost curves.

  How does this variation affect people and corporations

How does this variation affect people and corporations? Use the graph functions of Word or Excel to assist you-You will need two graphs.

  Research shows that as the wages of married women rise

Research shows that as the wages of married women rise, more of them work and they work more hours per year. However, as the wages of their spouse increase, they reduce their labor force participation rate and hours worked (hint: this is like non-lab..

  What are the roots of inequality in the division

According to Jared Diamond, what are the “roots of inequality” in the division of the world into ‘haves’ and ‘have-nots? What role has “the roots of inequality” played in the division of the world into ‘haves’ and ‘have-nots’ within today’s globaliza..

  Q1 discuss the prognosis or economic outlook for the

q1. discuss the prognosis or economic outlook for the chilean economy in the coming year. consider the leading economic

  Discussion about what the specific indices mean

For the Portfolio Project, students will conduct an analysis of a recent article and provide their evaluation and outcome expectations in a written paper of 1500-2500 words that discusses APA format and reference sheet needed.

  The supply of ocean water is essentially unlimited

Ocean water contains .9 ounces of gold per ton. Method A costs $550 per ton of water processed and will recover 90% of the metal. Method B costs $400 per ton of water processed and will recover 60% of the metal. The supply of ocean water is essential..

  Illustrate what does this theory predict about the term

Illustrate what does this theory predict about the term structure of interest rates in terms of how the yield of long term bonds are related to yields on a sequence of 1 year bonds.

  Q1 butler leased a certain piece of property from wheeler

q1. butler leased a certain piece of property from wheeler with an option to purchase it at later dates. the agreement

  Find the marginal revenue

A Monopolist firm sees the following demand, find the marginal Revenue

  Huge government budget deficit may result in trade deficit

Twin deficits occurred in the 1980s reveal that huge government budget deficit may result in trade deficit. However, by the late 1990s, the federal budget deficit had moved into surplus, but the current account deficit widened. Can you explain the ca..

  The marginal cost pricing model

The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher profits?

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