User Account

All Pages

Determine if this is a short-run or long-run cost function

Assignment Help Business Economics
Reference no: EM132034154

1. Suppose that each firm in a perfectly competitive market has a cost of TC = 75 + 500Q - 5Q2 + 0.5Q3

a) Determine if this is a short-run or long-run cost function (motivate):

b) Calculate the output that minimizes the firm's AVC.

What is the firm's shutdown price?

Reference no: EM132034154

Questions Cloud

Examine the map and determine which us state the high : Air pressure varies by elevation, with the highest air pressures exerted close to sea level and air pressure decreasing with increasing altitude.
Should the machine be? purchased : The? firm's tax rate is 35 ?%, and its? after-tax MARR is 15 ?%. Should the machine be? purchased?
Increase in cash flows per year from installing machinery : What will be the net increase in cash flows per year from installing the machinery?
Critical component of an individual life-span development : Gender identity-identifying oneself as male or female-is a critical component of an individual's life-span development. Misconceptions and stereotypes abound.
Determine if this is a short-run or long-run cost function : 1. Suppose that each firm in a perfectly competitive market has a cost of TC = 75 + 500Q - 5Q2 + 0.5Q3
What is the most likely wind direction at point d : What is the most likely wind direction (North, South, East, West) at Point D? At Point D, is the pressure rising or falling?
Discuss the effect on company financial statements : Two more payments of $100,000 each are also required on December 29, 2017 and 2018. Discuss effect that this event will have on company's financial statements
Evaluate the purchase of proposed spectrometer : You must evaluate the purchase of a proposed spectrometer for the R&D department. You must evaluate the purchase of a proposed spectrometer for the R&D departme
What other factors might influence steven decision : Potency and efficacy are two of the most misunderstood concepts in the area of drug use. Many overdoses occur because the potency of the newly purchased drug.

Reviews

Write a Review

Business Economics Questions & Answers

  Question 1the difference between game trees and decision

question 1the difference between game trees and decision trees isselect onea. that game trees are not useful in

  What is the implicit cost

A firm produces 8000 units of output, which it sells for $1.50 each. It produces this output using only labor and capital, and pays $7000 to its labor and $1500 to its capital. The firm's owner feels she could make $4,000 working somewhere else. What..

  How many guitars will be sold after the tax is imposed

Suppose you are hired by the Martin Guitar Company as an economic consultant. You estimate the demand to be Q=8000-2P. Suppose the supply of Martin Guitars is given by Q= -2000+3P. Suppose a per-unit excise tax of $40 per guitar is levied on the cons..

  Working conditions in foreign factories

1. Should Nike be held responsible for working conditions in foreign factories that it does not own, but where sub-contractors make products for Nike?

  Demand probabilities during the lead time

Authentic Thai rattan chairs are delivered to Gary Schwartz's chain of retail stores, called The Kathmandu Shop, once a year. The reorder point, without stock, is 200 chairs. Carrying cost is $40 per unit per year, and cost of a stock out is $70 per ..

  Worldviews of individualism and collectivism

Compare and contrast the worldviews of individualism and collectivism. Describe at least three specific similarities and/or differences.

  Find the value of the open economy multiplier

a) Find the value of the open economy multiplier b) What is the equilibrium level of GDP for this economy?

  How much can it afford to pay for the computer

If the firm wants a 15% rate of return, after considering both state and federal income taxes, how much can it afford to pay for the computer?

  The savings supply curve is derived from the fact

The savings supply curve is derived from the fact that: The investment demand curve is derived from the fact that:

  What is the cournot nash equilibrium for this situation

Consider a market with two firms, each with constant marginal cost of $100 and facing a market demand curve of P=1000 - Q where W is total output of the two firms. Suppose they choose simultaneously, what is the Cournot Nash Equilibrium for this situ..

  Large oil multinational toward environmental protection

Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection, and (b) influence the policies of a clothing company to outsourcing of..

  Social security and unemployment compensation

Explain whether transfer payments, such as Social Security and unemployment compensation, are counted as government spending in calculating GDP.

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