Determine what is the marginal cost of a string

Assignment Help Econometrics

Reference no: EM13234610

The Licorice industry is competitive. Each firm produces 2 million strings of licorice per year. The strings have an average total cost of .20 cents each and they sell for .30 cents.

What is the marginal cost of a string?

Is this industry in long-run equilibrium? Why or Why not?

Reference no: EM13234610

Questions Cloud

How the dollar apprciation will affect us net export : Supposed that, initially, the U.S. economy was in an aggregate demand-aggregate supply equilibrium at point A along the aggregate demand curve AD in the diagram in the next column. Now, however, the value of the U.S. dollar has suddenly appreciate..

Explain back titration tend to circumvent the difficulty : One of the reasons that back titration is preferred to direct titration is because of the limited solubility of carbonates in water. Why does this make direct titration difficult and why does back titration tend ot circumvent this difficulty

Which value border-collapse will give each cell of a table : Which value of border-collapse will give each cell of a table a border that can be specified independently of adjacent cells

What happens to the marginal product of the two type : Imagine a firm that hires 2 types of workers, some with computer skills and some without. If technology advances so that computers become more useful to the firm, what happens to the marginal product of the two type

Determine what is the marginal cost of a string : The Licorice industry is competitive. Each firm produces 2 million strings of licorice per year. The strings have an average total cost of .20 cents each and they sell for .30 cents.

Explain what would be the potential of the cu-zn cell : What would be the potential of the Cu-Zn cell be if the concentration of Cu2+ was 1.00M while the concentration of Zn2+ was 0.60M

Produce algorithm pseudocode code flowchart for problem : Produce an algorithm, pseudocode code and flowchart for the following probelm: A customer in a store is purchasing five items. Design a program that ask for the price of each item, and then displays the subtotal of the sale, the amount of sales ta..

Find the value of k : A positive charge q1 = 2.50 µC on a frictionless horizontal surface is attached to a spring of force constant k, the distance between charges to d = 9.00 cm, Find the value of k

Was gary qualified to be a project manager : Was Gary qualified to be a project manager and what are the moral and ethical issues facing Gary - What authority does Gary Anderson have and to whom does he report?

User Account

All Pages