Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
SHORT RUN EQUILIBRIUM OF THE FIRM
A firm is in equilibrium when it is maximizing its profits, and can't make bigger profits by altering the price and output level for its product or service.
In Short-run the firm may make super-normal profits as shown below:
The firm will produce output q where Marginal Revenue is equal Marginal Cost. At this level of output, the average cost is C. Hence the firm will make super-normal profits shown by the shaded area.
In the Short-Run however the firm does not necessarily need to make profits or cover all its cost. It may only need to cover Total Variable Cost.
The firm's short-run supply curve will be represented by the part of the Marginal Cost curve that lie above the AVC. The firm shall not produce unless the price is equal to P1. Below the price P1 the firm minimizes its cost by shutting down.
Explain important terms of marginal productivity and wage inequality Marginal Productivity and Wage Inequality: a. Market power • Compensating Differentials • Dang
Industry Paper: As a partial requirement for this course, you will have to submit a paper on an Industry of your choice. This is a highly structured paper, which consists of: 1.
NON-ACCELERATING INFLATION RATE OF UNEMPLOYMENT During 1970s economists encountered a puzzle in the sense that inflation and unemployment data did not fit into the Phi
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Now, let's modify our model a bit. Let's add a fourth sector of spending so that Y = C + I + G + X n with X = X o and M = M = f (Y). Will this change, by itself, increase, decrea
The concept of point elasticity is applicable where change in price and the resulting change in quantity are infinite or small. Though, where change in price and consequent hunger
effects and implication of taxation in relation to managerial economics
Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect
explain bain''s limit pricing theory
TC=100+0.15Q, Qu=1000-10Pu
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd