User Account

All Pages

Relationship between long-run profit maximization

Assignment Help Microeconomics
Reference no: EM132511782

Which of the following is true regarding the relationship between long-run profit maximization and long-run cost minimization?

a. profit maximization implies cost minimization

b. none of the other answer choices are correct

c. a profit maximizing firm will be minimizing costs and a cost minimizing firm must be maximizing profit

d. cost minimization implies profit maximization

Reference no: EM132511782

Questions Cloud

Describe the explicit strategies for technology development : Do you feel that countries and companies need explicit strategies for technology development, given the tremendous amount of largely spontaneous creativity.
Name a time you believe you applied the utility maximization : What were the goods or services you chose to maximize your utility? How did this relate to your budget constraint.
Describe upcoming negotiation or decision problem : Describe an upcoming negotiation or decision problem that you face (generally a work scenario is best to drive discussion). How do you plan to approach it?
Roughly what portion of us total health : Roughly what portion of U.S. total health spending is paid for by private and public insurance?
Relationship between long-run profit maximization : Which of the following is true regarding the relationship between long-run profit maximization and long-run cost minimization?
Consider a firm using the following long-run technology : Consider a firm using the following long-run technology: q=f(x1,x2)=1/3ln?(x1)+1/6ln?(x2) Where output and input prices are given by the non-negative
How do your negotiation tactics change : what are some negotiation tactics you observe used on a daily basis? How do your negotiation tactics change?
Define and fully describe the health issue : Select a health issue to further explore which is related to a priority issue from a national or global organization.
Inverse demand function for toasters : Q1) If the inverse demand function for toasters is p = 60 - Q , what is the consumer surplus if price is 30?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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