Illustrate what will happen to the profit in the long run

Assignment Help Macroeconomics
Reference no: EM13224459

Illustrate the average cost, marginal cost, and marginal revenue for a firm making a positive economic profit in a short run, perfectly competitive environment. Indicate the profit. Now illustrate what will happen to this profit in the long run.

Reference no: EM13224459

Questions Cloud

Explain electron configuration arguments : The discovery of hafnium, element number 72, provided a controversial episode in chemistry. G. Urbain, a French chemist, claimed in 1911 to have isolated an element number 72 from a sample of rare earth (elements 58-71) compounds. However, Niels B..
How much time will it take to perform : The time to perform the first instance of a task is 6 hours. How much time will it take to perform the 5th repetition if the learning rate is 80%?
What is the total cost of this policy : How many tires should Rocky Mountains tire order each time it time it places an order?
Meet the student need for autonomy : Which of the following techniques will help to meet the student need for autonomy?
Illustrate what will happen to the profit in the long run : Illustrate the average cost, marginal cost, and marginal revenue for a firm making a positive economic profit in a short run, perfectly competitive environment. Indicate the profit. Now illustrate what will happen to this profit in the long run.
How would you define leadership : How would you define leadership and what is your personal philosophy of leadership? What makes a person a good leader?
In addition to the powers conferred on him by this act : In addition to the powers conferred on him by this Act or any other written law, an inspector or authorized person may, in relation to any offence under this Act,
At what interest rate would you be willing to lend : Suppose two types of firms wish to borrow in the bond market. Firms of type A are in good financial health and are relatively low risk. The appropriate premium over the risk-free rate for lending to these firms is 2%. Firms of type B are in poor f..
Research-calculate the sentence for charges against jones : Assume Jones has been convicted of murdering another person with an assault weapon in furtherance of street gang activity. The drug charge was dropped before the trial. He has one prior felony conviction and, under California law, that means if the T..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Compare effect of tanf program on work to afdc program

The subsidy ends when the money income with program participation equals the money income earned without the program. A simplified version of this type of program is one that would give this single parent a $40 grant accompanied.

  Influence the supply and demand of a nurse position

Two principles of economics that help describe how wages are determined in a market economy, Think these principles when completing the project. Think of how they apply to labor market for nurses.

  He proposed an rise in ethanol produced from corn

He proposed an rise in ethanol produced from corn and stalks and leaves from corn and other grasses. What is the likely impact of these two events on food prices in the United States.

  What is your expected payoff if you play the game

Tickets cost $5 to play, and you get to pick a number between 1 and 20. If you guess right, you win $100. If you guess wrong, you win nothing. In either case, you must pay the $5 to play. What is your expected payoff if you play this game

  Algebraically resolve demand and supply equation

Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook-Algebraically determine the equilibrium industry price/output combination.

  Why does walmart have a cost advantage over its competitor

when walmart locates in a smaller town, often the local retailers hardware, clothing and appliance are unable to successfully compete and are driver out of business why does walmart have a cost advantage over its competitor and charge lower prices

  Where the is curve and the lm curve are of normal shapes

During the recent recession, when countries around the world suffered high unemployment rates and the governments were experiencing huge budget deficits, economists debated whether to raise or cut taxes or to raise or cut government spending.

  What does the government spending multiplier depend on

Suppose, that instead of holding prices fixed as we did in this problem, that prices were perfectly flexible, as in a classical world. Discuss, do not show, how your graphs would be different. Also, comment on what would happen to the government m..

  How action might have impacted three major macroeconomics

In the 1970s, the United States federal government created a Department of Energy. This is a time when the OPEC (Organization of Petroleum Exporting Countries) cartel first became prominent. Identify how this action might have impacted the three m..

  Determine the accounting cost function

University of Florida engineering students are planning operating a mobile car clinic in Gainesville, Florida, during their summer break. This is an option to summer employment stacking plastic cups

  At what level of money income does the subsidy end

Draw the daily budget constraint without any program participation for the single parent described above. On the same graph, draw the daily budget constraint under TANF for the single parent described above. At what level of money income does the ..

  Explain the science of economics in the presence

Explain the science of economics in the presence of making a profit with scarce resources

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