What should the firm do in the long run

Assignment Help Business Economics
Reference no: EM132368989

A firm sells 1000 units per week. It charges $70 per unit and the average variable costs are $25 and the average costs are $65. What should the firm do in the short run? What should the firm do in the long run?

Reference no: EM132368989

Questions Cloud

When considering utility from an economic standpoint : When considering utility from an economic standpoint, what do you feel are the most significant lessons that can be learned and applied with regard to public
Crafting a successful marketing plan : Mission and Situation Analysis Assignment - The purpose of this assignment is to get you started on crafting successful marketing plan
Providing financial incentives to lure fdi inflows : The drawback of providing financial incentives to lure FDI inflows is the tremendous cost to the taxpayers of the host countries with the tax implications.
Why was the manufacturer losing money on this program : Why was the manufacturer losing money on this program? What should the manufacturer do to stop losing money?
What should the firm do in the long run : What should the firm do in the short run? What should the firm do in the long run?
What should the firm do in the short run : A firm sells 1,000 units per week. It charges $70 per unit, the average variable costs are $25, and the average costs are $65.
Term paper on psychological health problems : Prepare a Term Paper on Psychological health problems - organise a problem-solution academic paper - Your argument is always supported by appropriate evidence
Mutual funds instead of stocks and bonds : What are some benefits of investing in mutual funds instead of stocks and bonds?
Price of gasoline at its initial equilibrium price : How much of a surplus or shortage will exist when supply is reduced as described in part (c) above? Show your work

Reviews

Write a Review

Business Economics Questions & Answers

  Discuss the issues associated with federalism

Discuss the issues associated with federalism and what local, state, and federal policy makers need to consider when developing emergency response policies?

  Second super bowl commercial

The price of a 30-second Super Bowl commercial is $5 million. Should you buy the advertisement?

  Functions and responsibilities of the federal reserve

What are the components of U.S. money supply and what are the functions and responsibilities of the Federal Reserve?

  Find the firms marginal rate of technical substitution

A firm uses labor and capital to produce output according to the production function q=100KL, where L is the number of units of labor used and K is the number of machines. What is the marginal product of labor. What is the marginal product of capital..

  What is the amount of the deadweight loss of the tax

A tax is imposed on a certain good. The tax produces revenue of $5,000 for the government. The tax reduces consumer surplus by $3,000 and it reduces producer surplus by $4,000. What is the amount of the deadweight loss of the tax?

  Willing to pay the high prices to get one

People are lured by the idea of 50 mile per gallon vehicles which still perform well also are willing to pay the high prices to get one.

  What is the price it charges to its consumers

A firm faces a demand where q=20-P. q is quantity demanded, P is price. Its total cost function is TC = 2q^2 + 2q + 20 . How many should it produce to maximize profit? What is the price it charges to its consumers?

  Legislative representative recommending a beneficial change

From your analysis, craft a professional letter at least one page long to your state legislative representative recommending a beneficial change to the law. Or, if you believe no changes should be made, include detail on what portions of the law y..

  Neoclassical economics review

A prominent senator has calculated the total social benefit of the current amount of space exploration at $3 billion per year. The total social cost of space exploration is currently only $2 billion. The senator argues that a net gain to society w..

  Provides funding for identical loan to different individual

Prosper is a website that allows people to solicit loans from other individuals. The lenders can view information about the borrower and the type of loan being solicited. List and explain two ways in which a lender on Prosper differ from a person wit..

  Nation using union labor monopolies to produce a product

A nation using union labor monopolies to produce a product can export its surplus at a lower global price to those nations that are more efficient producers of the same product and as a result make the consumers in the exporting nations better off. F..

  Include the topics you feel comfortable with

Discuss this week's objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.

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