User Account

All Pages

Derive the long run marginal and average cost curves

Assignment Help Business Economics
Reference no: EM131457124

Good h is produced in Asia. There are 10000 firms producing good h according to the technology described by h=K1/3L2/3, where K is land and L is labor. The unit prices of land and labor are $256 and $1 respectively.

a) Derive the long run marginal and average cost curves for each of these producers. What is the long-run market supply of good h?

Reference no: EM131457124

Questions Cloud

Describe the flat tax : Suppose the United States were to convert its tax system from an income tax to a flat tax. For individuals, there would be no itemized deductions allowed.
Paragraph on human stem cell and epilepsy : Write one paragraph on each topic - Human stem cell - Epilepsy
Develop a graph and a table that show descriptive statistics : Develop a graph and a table that shows descriptive statistics (central tendency measures and dispersion measures) of the checking balances.
Which firm is the more profitable in this market : Which firm is the more profitable in this market? Does the firm you identified as more profitable have a dominant strategy?
Derive the long run marginal and average cost curves : Derive the long run marginal and average cost curves for each of these producers. What is the long-run market supply of good h?
Eliminate incentive-shift activities from one period to next : Suppose the United States were to convert its tax system from an income tax to a national sales tax on sales of goods and services.
Variability of nominal gdp : What does the Quantity Theory of Money say about the variability of nominal GDP, real GDP and the velocity of money?
Discuss about the systematic sampling : If a researcher wanted to see the academic performance of high school students in Florida. He can divide the population of Florida into different clusters.
What are possible gain and losses to bank after december : She wants an evaluation of associated risks and recommendation on whether or not to hold or sell. What are possible gain and losses to bank after December 2006?

Reviews

Write a Review

Business Economics Questions & Answers

  DOT is performing benefit-cost analysis of new highway

A DOT is performing a benefit-cost analysis of a new highway using an analysis period of 40 years as part the required environmental impact assessment of the project. The section of highway is estimated to have a construction cost $260 million dollar..

  Calculate the amount of total profit

Calculate the amounts of outputs, Q1 and Q2 that the monopolist should produce and the prices that it should charge if it wants to maximize total profit. Calculate the amount of total profit.

  Define liquidity

The purchase of government securities by the Fed from the public will begin a contraction in commercial bank lending. Provide an explanation. Define liquidity. Rank the following assets in order of their liquidity:

  Find the federal funds rate recommended by the taylor rule

The equilibrium real fed funds rate is 2%, the inflation target is 2% and the growth rate of potential output is 3%. If inflation is 8% and output growth is 6%, find the federal funds rate recommended by the Taylor Rule.

  Q1 what does monumental architecture imply about the

q1. what does monumental architecture imply about the cultural values and the socio-economic-political organization of

  Operating margin

A clinic has $1 million in revenues and $950,000 in costs. What is its operating margin?

  Traded on the commodities exchange

How does the oil prices also get affected by oil price futures, which are traded on the commodities exchange?

  Reducing the severity of adverse selection problem

Describe the problem of adverse selection when health insurance is offered at a community rated premium? Define the term community rated premium as well. Is it possible to address the problem of adverse selection by increasing the premium level? Why?..

  What is the marginal cost of producing

What is the Marginal Cost of producing the 21st unit? (Hint: Begin by calculating TC at 20 and at 21.) Round your answer to the nearest whole number

  What will be dollar cost of hedging with forward contract

How would you hedge your exposure with forward contracts and option contracts and what will be the dollar cost of hedging with forward contract?

  The supply curve

The Supply curve

  Cash flow associated with termination of the project

You are considering expanding your product line that currently consists of skateboards to include gas-powered skateboards, and you feel you can sell 9,000 of these per year for 10 years. What are the annual free cash flows associated with this projec..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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