Reference no: EM131274474
1. What is the distinction between the short run and the long run? In reality, does a company operate in the short run or in the long run? How do you know? Is it a reasonable distinction to have for a company?
2. With respect to profit and loss, what is the economic goal of business? How does Maximizing profits accomplish that goal? What should, in your opinion, be the goal of a business?
3. Identify Three kind of industries would fit into the Perfect Competition industry? Justify why you would classify each one of the industries into Perfect competition.
4. What happens in the long run to the existing companies in the industry? To the New companies in the industry and to the Industry as a whole? What will happen to the price and average costs in the long run?
5. If the MC is greater than the ATC, and the MC is increasing, then what will happen to the ATC and the AVC? If the MC is less than the ATC and the MC is decreasing, then what will happen to the ATC and AVC? Explain.
6. What are economic profits? How is it different than accounting profits? Should there be a difference? How do businesses make those types of profits?
7. Is it true that a company in a perfect competition industry will have a perfectly elastic demand and supply? Why or why not?
8. Why do the long run average costs decline first and then become to rise? Is this pattern observed in the real world? Can you give examples of this?
|
Definition of aggregate demand
: What is the definition of aggregate demand and how does it apply to economics?
|
|
How industrialization affected life of the average working
: Identify three (3) specific groups that were affected by industrialization and provide two examples for each group describing how the group was affected. (Consider issues such as race, ethnicity, gender, child labor, etc.) Summarize how industria..
|
|
What does it mean for you to be a leader that acts in line
: What does it mean for you to be a leader that acts in line with your values? Please write a statement about the type of ethical public service leader you aspire to be-this is your personal code of ethics.
|
|
Sort of health care reform
: Now, due to some sort of health care reform, suppose that the demand for the drug increases in the U.S. What effect will this have on the total quantity of the drug produced,the quantities sold in the U.S. and Mexico, and the prices charged in the..
|
|
Distinction between the short run and the long run
: 1. What is the distinction between the short run and the long run? In reality, does a company operate in the short run or in the long run? How do you know? Is it a reasonable distinction to have for a company?
|
|
Relationship between output per worker
: Consider the following version of the neoclassical (Solow) growth model. Suppose the relationship between output per worker, y, and capital per worker, k, at any point in time is represented by
|
|
Examine the main reasons why people are attracted
: Examine the main reasons why people are attracted to urban areas in the developing world, and select the key issues that make this rural to urban migration such a difficult problem for governments to deal with.
|
|
Pot the modulus of elasticity versus strain
: Figure 16-22 on the next page shows the stress-strain curve for an elastomer. From the curve, calculate and plot the modulus of elasticity versus strain and explain the results.
|
|
How dhs s and ts mission to strengthen americas security
: Compose a paper discussing what you have learned about how DHS S&T's mission "to strengthen America's security and resiliency by providing knowledge products.
|