The perfectly competitive firms short run supply curve is that portion of its marginal cost curve that
Question:
Draw a perfectly competitive firm’s MC and AVC curves and use them to find the firm’s short run supply curve.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
The above figure shows the MC curve and th...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Why is the perfectly competitive firm's long-run supply curve identical to its marginal cost curve lying above its ATC?
-
Multiple Choice Questions 1. The short-run supply curve of a perfectly competitive firm is a. Its MC curve. b. Its MC curve above the minimum point of AVC. c. Its MC curve above the minimum point of...
-
The following graph shows the cost curves for a perfectly competitive firm. Identify the shutdown point, the breakeven point, and the firm's short-run supply curve. MC ATC AVC
-
Implement and maintain internal control procedures This task will require you to roleplay a meeting with your supervisor, Chris Kohler. You will discuss the reporting requirements and timetables...
-
Discuss the roles of accounting professionals in designing and building accounting databases. Why it is important for accounting professionals to know about enterprise databases?
-
Writing large letters. A large letter H can be produced like this: It can be declared as a string literal like this: final string LETTER_H = "* *%n* *%n*****%n* *%n* *%n"; Print the string with...
-
Provide the ideal gain scheduling for Figure 12.16 as a function of Q. DATA FROM FIGURE 12.16 Assume inertia varies with theta as follows: where JM is the motor inertia, JL is the load inertia, and R...
-
In the past year, Oak Crafters Cabinets had total revenue of $2,500,000, cost of goods sold of $1,000,000 (before adjustment for over- or underapplied overhead), administrative expenses of $600,000,...
-
Retained earnings, July 31, 2020 $ 36,300 Cost of goods sold $ 137,400 Accounts receivable 28,300 Cash 26,000 Net revenues Total current liabilities All other expenses Other current assets Other...
-
The Volvo Group, headquartered in Gothenburg, Sweden, is one of the worlds leading manufacturers of trucks, buses, and construction equipment, in addition to autos. Volvos actual condensed balance...
-
A perfectly competitive firm will set MR = MC in order to maximize profit in the short run. 1. Graphically show a perfectly competitive firms profit maximizing price and quantity. 2. Explain whether...
-
The market supply curve for a perfectly competitive industry is the horizontal summation of each individual firms supply curve. Draw the market supply curve for a perfectly competitive industry.
-
How is the holding period determined for property acquired by a gift and from a decedent?
-
List the five mystification factors and their relationship to reality.
-
Describe the six aspects of strategy and execution governance.
-
Why is matching the organizational design to business processes important?
-
What is usually the best method to create the TOM components?
-
Why is it important to clearly understand what your business drivers and triggers are?
-
Differentiate the functions in Exercises. y= x-1 x + 1
-
Rewrite the code of Figure 7.3 in Ada, Java, or C#. Figure 7.3: template class queue { item items [max_items]; int next_free, next_full, num_items; public: queue () : next_free (0), next_full(0),...
-
Explain why counterfeiting money is a crime. Who is the victim? Is there a private victim as well as public victims?
-
Distinguish between (1) imposing risk on others by driving carelessly without an accident actually occurring, and (2) inspiring fear in others by attempting to commit a crime and failing.
-
Explain how the confidence of the public in the prosecutor influences the standard of proof in criminal trials.
-
The veterinarian suspects a bleeding disorder in a young mixed breed dog. He requests that you perform a BMBT test on the dog. What other piece of information is necessary with any coagulation test?
-
.. Evaluate the following integrals: a) / b) c) d) x4 dx x-1 5x+1 dx (2x+1)(x-1) x3+4x+x-1 .3 x3 + x2 x+4x+3 x4 +5x +4 dx dx e) / 1 x3 - 1 dx
-
4. Evalute the following: (a) The region bounded by y = (3-2)' y = 0, x = 1, and x = 2 is revolved about the x-axis. (b) The region bounded by y = 1-x2, x = 0, x = 1,is revolved about the line x = 1....
Study smarter with the SolutionInn App