economic applications project, Microeconomics

economic applications project, Microeconomics

Assignment Help:

Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in the long run.
Assume that all firms in an industry have access to the same technology of production. Using diagrams, demonstrate the relationship between the short run and long run total cost functions, and between the short run and long run average and marginal cost functions. Using an example in which the total cost is a cubic function, show how the most common diagrammatic explanation of profit maximisation in textbooks requires an assumption of eventually diminishing returns to scale, and discuss the plausibility of that assumption.

Related Discussions:- economic applications project

Crop patterns, CROP PATTERNS: Analysis of crop patterns in India shoul...

CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u

Intermediate economics, what are the variables to be included in the social...

what are the variables to be included in the social welfare of a country?

Reserve accounts, if a bank has $6000 in checkable deposits and the require...

if a bank has $6000 in checkable deposits and the required reserve ratio is 0.2 then the bank can lend how much money?

3, . Crumble Corporation produces cookies. Here is the relationship betwee...

. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product

2 econ problems, I have the answers to these two questions, but I need to k...

I have the answers to these two questions, but I need to know HOW to get these answers. Thanks. Question 1 Suppose there are two goods beverage and pizza and two inputs land, T

Determinants of social demand for education, Determinants of Social Demand ...

Determinants of Social Demand for Education Certain levels of education like the secondary school and graduate level are considered as having productive value and are attribut

Determine the solution of the homogeneous system, The reduced row echelon f...

The reduced row echelon form of A= is equal to R = (a) What can you say about row 3 of A? Give an example of a possible third row for A. (b) Determine the values o

Production, who is a rational producer?

who is a rational producer?

Market structures, discuss the implications of various market structures(co...

discuss the implications of various market structures(competitive and non-competitive) for price determination

Economic planning, what are the recommendations for effective economic plan...

what are the recommendations for effective economic planning?

Write Your Message!

Name

Email id

Message

Verfication Code

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

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