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.
The most significant uses of the price elasticity of demand, used specifically in business decision-making. It refer to the relationship between price elasticity and the marginal c
DIFFERENTIALS AND DISEQUILIBRIUM In a free enterprise system, workers aim at maximizing their wages. Hence, it would be expected that workers would move form low-paying indus
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye
Question: a. What are the basic attributes in designing a good tax system? b. Explain briefly how tax systems affect economic efficiency. c. The trade unionists advocat
Q. Illustrate Fiscal Monopoly? Fiscal Monopoly: To stop exploitation of consumers andemployees, government nationalises many industries and obtains fiscal monopoly power ove
1.Is Indian companies running a risk by not giving attention to cost cutting?
a) A country should always protect its domestic industries. Discuss. b) To what extent can a country actually rely on the principle of Comparative Advantage before engaging
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
what is objective
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd