Ahammer manufacturer has just hired you to advise the firm on its production costs. in your first meeting with production managers, you hear the following statements. state if the statements are true or false and give a detailed explanations for your answer.1. "if the production process is subject to diminishing returns, the long-run average cost curve will be positively sloped."2. "at the current output level, this factory is subject to diminishing returns. therefore, the firm is operating along the upward"-sloping portion of its short-run marginal cost (smc) curve."3. "at the current output level, this factory is subject to diminishing returns. therefore, the firm is operating along the upward-sloping portion of its short-run average total cost (satc) curve."4. the short-run average total cost of producing 250 hammers is less than the short-run average cost of producing 260 hammers. therefore, the short-run marginal cost of 260 hammers is less than the short-run average cost of 260 hammers."

Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget

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