User Account

All Pages

Why in the long run firms earn zero economic profits

Assignment Help Microeconomics
Reference no: EM132478895

Why in the long run firms earn zero economic profits. Does this mean that competitive firms earn zero accounting profits?

Reference no: EM132478895

Questions Cloud

How much is the annual amortization expense : Adelphi Company expects to use the patent for 6 years after which time it will be worthless. How much is the annual amortization expense for 2019
What are adjusting entries and why are they necessary : In your chosen company, which accounts might require adjusting entries? Why is it unethical not to record adjusting entries when required?
Describe the effect of the flood on the marginal : Describe the effect of the flood on the marginal productivity of land, labour, and capital. How would the flood affect the price of inputs? Provide examples.
What is the amount of depletion that should be recorded : In 2018, Frederick extracted and sold 135,000 tons of ore. What is the amount of depletion that should be recorded
Why in the long run firms earn zero economic profits : Why in the long run firms earn zero economic profits. Does this mean that competitive firms earn zero accounting profits?
How much should be recorded on December : Bowie Company uses a calendar year and the straight line depreciation method. How much should be recorded on December 31 for the Gain or (Loss)
Determining the average total costs rising or falling : If marginal cost is less than average total cost, are average total costs rising or falling? Alternatively, if marginal cost is more than average total cost
What is the profit maximizing level of output : What is the profit maximizing (or loss minimizing) level of output in the short run? What is the profit maximizing level of output in the long run?
Calculate the acquisition-date fair value of Amsterdam : Using the acquisition method, calculate the acquisition-date fair value of Amsterdam to be included in Morey's June 30 consolidated financial statements

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