Distinguishing between the short run and the long run

Assignment Help Business Economics
Reference no: EM131589435

A local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return) in the nightclub business?

Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents? explain, distinguishing between the short run and the long run.

Reference no: EM131589435

Questions Cloud

Prepare the cash receipts budget for the second quarter : GrowMaster Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the corning year. Prepare the cash receipts budget
What police procedures are used during arrests : What police procedures are used during arrests, and how do these procedures lead people to feel confused, fearful, and dehumanized?
Describe the testimony of a paid expert witness : In your opinion, is the testimony of a paid expert witness more credible than that of an ordinary lay person. Why or why not
Current trends in the approach to the policing function : Current trends in the approach to the policing function, Communication patterns both within and outside the policing agency
Distinguishing between the short run and the long run : Would higher or lower rates increase the incomes of agents? explain, distinguishing between the short run and the long run.
Write propaganda essay about advertisements and their appeal : Write a propaganda essay about advertisements & their appeal. What is the general ambience of the advertisement? What mood does it create? How does it do this?
What is a substantial assistance departure : What is a substantial assistance departure and how it does it affect the application of mandatory minimum sentences in federal court system
Focus on the effectiveness of programs aimed at victims : Focus on the effectiveness of programs aimed at victims as well as juveniles. Remember, you can incorporate the readings with this material as well
What role does a civilian oversight committee : economic impact in concert with discretionary authority exercised by personnel in the criminal justice system

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd