User Account

All Pages

Industry to be in long-run equilibrium

Assignment Help Business Economics
Reference no: EM131459729

A company produces a product in a monopolistically competitive market. The inverse demand curve for its product is P=60-0.5Q. Suppose the marginal cost for producing one product is 20. Given the information above, what would the company's fixed costs have to be for this industry to be in long-run equilibrium? Explain.

Reference no: EM131459729

Questions Cloud

Distinguish between media research and message research : Distinguish between media research and message research. Media research assesses how well a particular medium delivers the advertiser's message.
Should reparations in the form of money damages : Determine whether an ethical solution has a legal justification - Should Reparations in the form of money damages be paid to descendants of African Slaves in the United States?
Explain why you chose advantage and challenge that you did : Explain why you chose the advantage and challenge that you did, and provide one real-world example of each environment.
What is the role of an advertising agency : Identify and describe the different advertising media. Which are on the rise? Which are facing possible decline?
Industry to be in long-run equilibrium : Given the information above, what would the company's fixed costs have to be for this industry to be in long-run equilibrium? Explain.
Full-employment level of output : If the government wants to move the economy back to the full-employment level of output and the MPC is 0.9, then it should reduce taxes by?
Full-employment level of output : If the government wants to move the economy back to the full-employment level of output and the MPC is 0.9, then it should reduce taxes by?
Synergistic effects can arise from : Synergistic effects can arise from
Improvement in a companys financial position : Which of the following would indicate improvement in a company's financial position?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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