Short run and the long run for perfectly competitive firm

Assignment Help Business Economics

Reference no: EM131101561

The distinction between the short run and the long run for a perfectly competitive firm or a monopolist is that:

in the short run all inputs are fixed whereas in the long run no inputs are fixed

in the short run all inputs are variable whereas in the long run all inputs are fixed

in the short run at least one input is fixed whereas in the long run all inputs are fixed

in the short run at least one input is fixed whereas in the long run no inputs are fixed

Reference no: EM131101561

Questions Cloud

What profits per customer will be earned : The individual demand for a slice of pizza at Sam’s Pizza is given by QD = 6 – P. Assume the marginal cost of a slice is constant at $1 and the marginal revenue function is 6- 2Q. What is the profit-maximizing price and quantity if Sam’s sells all pi..

Classical investment theory believes that investment depends : Classical Investment theory believes that’s investment depends on real GDP and real investment rate. You are estimating an investment model based on theory as: I= B0+B1+B2r+U Where I is investments, Y is real GDP, r is the interest rate, and U is sto..

Estimating a cross-section regression : You are estimating a cross-section regression for a sample of 100 cities in the US in which you hope to explain expenditure on education as a function of the median income in the community, the number of school-age children, and the level of state an..

What price and output will occur under pure competition : Assume the industry demand for a product is P = 1000 - 20Q. Assume that the marginal cost of the product is $10 per unit. What price and output will occur under pure competition? What price and output will occur under pure monopoly?

Short run and the long run for perfectly competitive firm : The distinction between the short run and the long run for a perfectly competitive firm or a monopolist is that:

Determine the rate of return of on investment : The cost of a water jet machine to be used for slicing cheese is $45,640. The machine will generate net annual income of $10,000 during its useful life of 7 years. Determine the rate of return of on investment in this machine. Express the answer as a..

Auto damage for several groups of potential customers : No-state insurance Company has made the following estimate of auto damage for several groups of potential customers who own cars worth $10,000. there are an equal number of customers in each group. No-state is risk-neutral.

Important example of aggregate demand shock : Demand Shocks – As we’ll continue to discuss in class, a recession may reflect declines in aggregate demand, aggregate supply, or both. Are swings in consumer sentiment characteristic of recessions? Plot a measure of sentiment (FRED code: UMCSENT) an..

Nations that run current account surpluses : So now that you’re experts on international macroeconomics, you might find interesting looking at nations that run current account surpluses, for example, Germany, Japan, and China. What trends do you notice? Which one of these series appears unique?..

User Account

All Pages