Business, 12.03.2020 01:03 viridianasar5158
Assume that the following conditions exist for a perfectly competitive firm: price = $10, current output = 100 units/hour, ATC at current output = $9.00, AVC at current output = $8.00 and MC at current output = $8.00. a. Is the firm earning any economic profit currently? How much is its profit or loss? Yes, the firm is currently earning economic profit. b. Is the firm maximizing its economic profit? How do you know? What should the firm do to maximize profit? Should it increase or decrease output? c. Given your answers in part b, how will the market adjust to reach long-run equilibrium? What will happen to the economic profit in the long-run? Include appropriate graphs for the market and the typical firm in your explanation.
Answers: 3
Another question on Business
Business, 22.06.2019 03:00
Which of the following is an effective strategy when interest rates are falling? a. use long-term loans to take advantage of current low rates. b. use short-term loans to take advantage of lower rates when you refinance a loan. c. deposit to a short-term savings instrumentals to take advantage of higher interest rates when they mature. d.select short-term savings instruments to lock in earnings at a current high rates.
Answers: 1
Business, 23.06.2019 03:00
The following information is needed to reconcile the cash balance for gourmet catering services.* a deposit of $5,600 is in transit.* outstanding checks total $1,000.* the book balance is $6,400 at february 28, 2019.* the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent.* the bank balance at february 28, 2019 was $17,410.* a deposit of $400 was credited by the bank for $4,000.* a customer's check for $3,300 was returned for nonsufficient funds.* the bank service charge is $90.what was the adjusted book balance?
Answers: 1
Business, 23.06.2019 14:20
Why does the fed pay interest to banks? a. it is interest on money held in reserve. b. it is interest on credit available to the fed. c. it is interest on loans taken by the fed. d. it is interest on government investments.
Answers: 2
Business, 23.06.2019 23:00
The social performance of an organization can be described as driven by compliance, which is acting to avoid adverse consequences, or by conviction, which is acting to create positive impact. select one: a. true b. false
Answers: 3
You know the right answer?
Assume that the following conditions exist for a perfectly competitive firm: price = $10, current ou...
Questions
Mathematics, 23.03.2021 22:20
Biology, 23.03.2021 22:20
Advanced Placement (AP), 23.03.2021 22:20
Health, 23.03.2021 22:20
Chemistry, 23.03.2021 22:20
Mathematics, 23.03.2021 22:20
Health, 23.03.2021 22:20
