Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs. What would you do--shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling, the price of the product, the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total and average variable costs. Then go ahead and make your decision.
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be.
How do fixed costs play a role in your analysis?
What is the difference between shutting down and going out of business?
How do costs play into your everyday life? For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
Discuss and explain the differences between short and long run costs and for the short run, discuss what the relationship is in cost theory and production theory and concept of diminishing returns?
suppose that lin jun subscribes to the 88 yuan per month plan. (i) how much calling time would she consume? (ii) what would be her total benefit? (iii) what would be her buyer surplus (benefit less charges)?
A paper mill is considering two types of pollution control equipment. Neutralization - Initial Cost: $700,000, Annual Chemical Cost: 40,000, Salvage Value: 175,000, Useful Life, in years: 5
Suppose you own an insurance company. Further suppose that this market is composed of only 3 people. Further still, supposed that this insurance is full coverage and medical expenses are always $1000. It would be logical to also assume conditions ..
Find out the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in this market. Also determine the full economic price paid by consumers.
Compare and contrast your local utility company with a local farmer (corn, soy bean, cotton, etc.). Why does your utility company always operate with price is greater than marginal cost whereby the farmer attempts to produce where price equals mar..
a. Anticipated changes in aggregate demand effect only the price level; they have no effect on real output. b. downward wage inflexability means that declines in aggregate demand can cause long lasting recession. c. Changes in money supply M increas..
Imagine your boss in the United States home office wants to know your perspective on the following. How do international sanctions, tariffs, quotas,
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
Label the points representing choice C and choice D. If you are at choice C, what is your opportunity cost of increasing your chemistry score?
The marketing team for a restaurant wants to estimate the price elasticity of demand coefficient for its steak dinner. It priced its dinner at different price points in local restaurants to see how many would be sold at different prices.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd