Does a firms price equal marginal cost in the short run, in the long run, or both?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 36% (11 reviews)
A firms price equals marginal cost in both the short run and the long ru...View the full answer
Answered By
William Otieno
I am a professional tutor and a writer with excellent skills that are important in serving the bloggers and other specialties that requires a great writer. The important aspects of being the best are that I have served so many clients with excellence
With excellent skills, I have acquired very many recommendations which have made it possible for me to survive as an excellent and cherished writer. Being an excellent content writer am also a reputable IT writer with essential skills that can make one turn papers into excellent result.
4.70+
83+ Reviews
354+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
The connection between cost and production in the short run do you understand it? Marginal cost falls and then rises in the short run, as production is increased from a low level to a higher level....
-
In the short run, the increase in government spending on infrastructure causes the price level to (Rise Above)(Fall Bellow) the price level people expected and the quantity of output to (Rise...
-
In the short run of a model with sticky prices, a reduction in the money supply raises the nominal interest rate and appreciates the currency (Chapter 15). What happens to the expected real interest...
-
This question is optional and will not be graded. We are interested in examining factors determining women's labor force participation. Use the data set mroz. dta and the do file ps5.2. do to answer...
-
Conjectured that the infrared characteristic frequencies of a solid might be determined by the same forces between atoms as determine the solid's ordinary elastic behavior. The relevant quantities...
-
In exchange for a $400 million fixed commitment line of credit, your firm has agreed to do the following: 1. Pay 1.9 percent per quarter on any funds actually borrowed. 2. Maintain a 4 percent...
-
How does the concept of inheritance relate to component-based development?
-
Evan Nathan runs a home repair business. Recently he gathered the following cost information about the repair of a clients pool deck: replacement wood, $650; deck screws and supplies, $112; and...
-
Let f(x)=x for rational x and f(x) = 0 for irrational x. (a) Calculate the upper and lower Darboux integrals for f on the interval [0, b]. (b) Is f integrable on [0,b]?
-
Kosam Bwende is a successful retail proprietor in Solwezi district. He prepares his business accounts to 31st December of each year. His net profit for the year ended 31 December, 2019 was K 640,000....
-
Under what conditions will a firm shut down temporarily? Explain.
-
Does a firms price equal the minimum of average total cost in the short run, in the long run, or both? Explain.
-
In order to determine whether a company should encourage its employees to live close to work, an efficiency expert collects data on the number of latenesses per month and the number of miles an...
-
Suppose you are interested in purchasing AT&T stock. You know that AT&T stock has had an average rate of return of 8 % over the last 5 years. Explain how you could use descriptive statistics to help...
-
As controller of the Hamby Corporation, you are directed by the chairman of the board to investigate the problem of overspending by employees who have expense accounts. You ask the accounting...
-
A survey was conducted. Of 20 questionnaires that were sent, 12 were completed and returned. We know that 8 of the 20 questionnaires were sent to students and 12 to nonstudents. Only two of the...
-
In the game of roulette, a gambler who wins the bet receives $36 for every dollar she or he bet. A gambler who does not win receives nothing. If the gambler bets $1, what is the expected value of the...
-
A bullet manufacturer would like to keep the number of duds (bullets that wont fire) to a maximum of 2 per box of 100. Should inferential or descriptive statistics be used to decide this issue? Why?
-
Given this main method: Trace the code using the long form. To help you get started, heres the trace setup. The third column is for the switch expressions controlling expression. When evaluating a...
-
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
-
What is the output of the Encyclopedia program? A. Reading is fun!-papyrus B. Reading is fun!-cellulose C. null-papyrus D. null-cellulose E. The code does not compile. F. None of the above. package...
-
Should an economic model describe reality exactly?
-
Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economys cows?
-
Use a production possibilities frontier to describe the idea of efficiency.
-
Prove that Russian multiplication does what it needs to do, i.e. the result is the product of the two integers. Do not use the proof of the book. It is mainly an exercise in understanding the binary...
-
What is the fundament difference between growing a unicorn versus a camel? What are the financial recommendations for start-ups and the reasons given for those choices? Do you agree with these...
-
16. Nickel Inc. bought $500,000 of 3-year, 9% bonds as an investment on December 31, 2015 for $545,000. Nickel uses straight-line amortization. On May 1, 2016, $100,000 of the bonds were redeemed at...
Study smarter with the SolutionInn App