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1) Explain the difference between the short run and the long run as it relates to the firm's production function. Why is this distinction important to a firm's manager?
2) Explain why a firm maximizes its profits by producing the level of output at which marginal revenue equals marginal costs.
3) Explain how labor resistance and political and legislative influences reduce the ability of firms to minimize their costs of production. What do the two have in common in this regard?
4) What are the two primary factors that influence a firm manager's choice between a labor-intensive and a capital-intensive method of production? How does each factor influence the manager's choice?
5) Summarize the relationship between elasticity, price changes, and changes in total revenue.
6) Distinguish between "a change in demand" and "a change in quantity demanded." What are the causes of each type of change and how do we illustrate them graphically?
7) List the factors that influence supply. How does a change in each of factors you have listed affect the supply curve?
Linear programming is a mathematical technique used to determine the optimal solutions to certain specific problems.
The article study for the demand, supply and the market equilibrium has been discussed. The article that has been review was published on August 2012.
Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.
Explain whether the firm will make economic profit, In the short run and In the long run.
Determine the official measure of the deficit
The organization and coordination of the activities of a business in order to achieve defined objectives.
What is the profit maximizing number of Gizmo Widgets that should be introduced? Be sure to account for the fact that Gizmo Widgets displace other kinds of widgets. Again, be sure you provide a brief explanation of your approach/reasoning.
Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.
Carry out an analysis from the standpoint of both EMV and expected utility to establish Jeremiah’s best course of action, including a consideration of his bidding strategy with regard to the auction.
Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.
MGMT 3306: Solve the assignment problems, 1. Please answer the assignment questions in this docx file and save once you’re satisfied. Assignment 3covers the lectures slides for Week 6.
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