Solution-What is the efficient scale of yasir tea stall

If Yasir's fixed cost is Rs. 30

i. Calculate variable cost, average fixed cost, average variable cost, average total cost, and marginal cost.

ii. What is the efficient scale of Yasir's tea stall?

iii. Graph the curves for total cost, ATC, AVC, AFC, MC. Explain shape of these curves and the relationship between ATC and MC

Dominant strategy for firm and the equilibrium : Describe the dominant strategy for each firm and the equilibrium. Explain why there is an incentive to collude

Explain the short run and long run response : Assume that a competitive firm operates in an environment with no sunk costs of production. If the firm is currently

Explain why the firm will minimize losses by remaining : Explain why the firm will minimize losses by remaining in business.

Suppose property taxes increase dramatically : For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following:

What is the efficient scale of yasir tea stall : i. Calculate variable cost, average fixed cost, average variable cost, average total cost, and marginal cost.

Indifference curve for consumption and leisure : Draw a figure showing Saima's budget constraint, her indifference curve for consumption and leisure and her optimum.

Developing a new form of weight loss supplement : What would the implicit costs associated with developing a new form of weight loss supplement?

Difference between individual demand and market demand : How does supply differs from individual supply, and explain the difference between individual demand and market demand.

Give an example of a government-created monopoly : i. Give an example of a government-created monopoly. Is creating this monopoly necessarily bad public policy? Explain.