Output in short run, Microeconomics

Assignment Help:

Selecting Output in Short Run

* We will combine production and cost analysis with demand to determine output and profitability.

A Competitive Firm Making Positive Profit

760_output in short run.png
1234_output in short run1.png

Selecting Output in Short Run

* Production Decisions' summary

- Profit can be maximized when MC = MR

- If P > ATC firm is making profits.

- If AVC < P < ATC firm should generate at a loss.

- If P < AVC < ATC firm should shut-down.

The Short Run Output of Aluminum Smelting Plant

2032_output in short run2.png


Related Discussions:- Output in short run

Business meeting etiquette, Business Meeting Etiquette: Before meetings, th...

Business Meeting Etiquette: Before meetings, the correct way to arrange a meeting is to take an appointment 3 to 4 weeks before, even though it is known that generally gatherings w

Garrisons capital-based macroeconomics, Consider an economy with high innov...

Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more

Dividend, Dividend The distribution of an organizations earnings to it...

Dividend The distribution of an organizations earnings to its owners-the stockholders. Cash dividends are most ordinary, although partition can be issued in other forms, such

Explain costs and benefits of establishing a common currency, Discuss the c...

Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob

Capital account, Capital Account: The Capital Account presents transfe...

Capital Account: The Capital Account presents transfers of money and other capital items and changes in the country's foreign assets and liabilities resulting from the transac

Primary research methods, We discussed why economists prefer to use availab...

We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation

Theory of firm, critically analysis firm theory of profit maximization?

critically analysis firm theory of profit maximization?

Infrastructure , Infrastructure : Infrastructure plays an important ro...

Infrastructure : Infrastructure plays an important role in the development of an economy. The adequacy or lack of it determines an economy's success or failure in increasing p

Write Your Message!

Captcha
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