Firms long-run average total costs of producing

Assignment Help Business Economics
Reference no: EM13893279

Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns. For this range of output, the firm is experiencing a. constant returns to scale. b. economies of scale. c. diseconomies of scale. d. specialization.

Reference no: EM13893279

Questions Cloud

Concerned about inter-generational equity : The Australian government is concerned about inter-generational equity problems. Key problems arise from a larger number of older retired people being supported by a smaller workforce of young people, and from ever increasing budget deficits to be pa..
Inflation arises : Inflation is forecasted to remain consistent with its target over the next 1-2 years. Inflation arises when:
Constitution were directly influenced : Indicate two ways in which the framers of the United States Constitution were directly influenced by the thought of John Locke. Indicate one way in which they diverted from, expanded upon, rejected, or otherwise revised Locke's thinking.
Persuasive in explaining the behavior of political actors : Is elitism or pluralism more persuasive in explaining the behavior of political actors, individuals, and groups of individuals when they interact with government? What core assumption about human beings do both philosophies make to drive their assump..
Firms long-run average total costs of producing : Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns.
What is likely impact of this act in the market for meth : One component of the Patriot Act of 2006 was the "Combat Methamphetamine Epidemic Act", which prohibited the over the-counter sale of cold medicines that contain pseudoephedrine (which is commonly used to make meth). Ceteris paribus, what is a likely..
Increase the demand for heroin : Which of the following are likely to increase the demand for heroin? Suppose that Jane Margolis is an addicted heroin user. Ceteris paribus, if the murder of some of the heroin dealers in town causes the price of heroin to rise, we would expect that ..
Relationship that can be modeled with simple regression : Write a 4-5 page paper in which you: 1.develop and discuss a relationship that can be modeled with a simple regression.2. State the model in mathematical terms. 3. Estimate the model and interpret the meaning of the coefficient estimates.
Average total costs of producing an individual income tax : Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns. For this range of output, the firm is experiencing

Reviews

Write a Review

Business Economics Questions & Answers

  Suppose that a car was produced but not sold

Suppose that a car was produced but not sold in 2011. The car could still be sold in 2012. According to the book, the car would be counted as part of:

  Indifference curves that are higher than others necessarily

Indifference curves that are higher than others necessarily imply that for every given quantity of one good...

  Construct a contingency table

Construct a contingency table by using the following information: 89% entrepreneurs by choice. 11% entrepreneurs by necessity

  Perfectly competitive firm-industry in long-run equilibrium

Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. How do you know that the industry is in long-run equilibrium? Suppose that there is an increase in demand for this product. Show and explain the short-run adjustme..

  Demand for a product in a purely competitive industry

If there is a decrease in demand for a product in a purely competitive industry, it results in an industry contraction that will end when the product price is:

  Which is better in the long run

If the Fed instead maintained the money growth rate from part a, what is likely to happen to inflation D. Which policy do you think is better in the short run? Which is better in the long run?

  Compute the shares of lemon grass

compute the shares of lemon grass also troll labor in Hogwarts' income.

  Account in which equal annual deposits were made

To provide for a college education for her son, a woman opened an account in which equal annual deposits were made. The first deposit was made on January 1, 1998, and the last deposit was made on January 1, 2015.

  Use the definition of strict convexity

Trang has strictly convex indifference curves and is indifferent between the bundles (16, 2) and (2, 4). Use the definition of strict convexity to show that Trang prefers (9, 3) to (2, 4).

  Determine cost basis for three flexible manufacturing cells

To automate one of its production processes, Milwaukee Corporation bought three flexible manufacturing cells at a price of $500,000 each. When they were delivered, Milwaukee paid freight charges of $25,000 and handling fees of $12,000. Site preparati..

  Compute average fixed cost average variable cost

Compute average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company.

  Based on the cost curves which is more likely in businesses

What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?

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