Why are average costs lowest in the long run?
Question:
Why are average costs lowest in the long run?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Because the firm can then ...View the full answer
Answered By
Hemstone Ouma
"Hi there! My name is Hemstone Ouma and I am a computer scientist with a strong background in hands-on experience skills such as programming, sofware development and testing to name just a few. I have a degree in computer science from Dedan Kimathi University of Technology and a Masters degree from the University of Nairobi in Business Education. I have spent the past 6 years working in the field, gaining a wide range of skills and knowledge. In my current role as a programmer, I have had the opportunity to work on a variety of projects and have developed a strong understanding of several programming languages such as python, java, C++, C# and Javascript.
In addition to my professional experience, I also have a passion for teaching and helping others to learn. I have experience as a tutor, both in a formal setting and on a one-on-one basis, and have a proven track record of helping students to succeed. I believe that with the right guidance and support, anyone can learn and excel in computer science.
I am excited to bring my skills and experience to a new opportunity and am always looking for ways to make an impact and grow as a professional. I am confident that my hands-on experience as a computer scientist and tutor make me a strong candidate for any role and I am excited to see where my career will take me next.
5.00+
8+ Reviews
23+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A: Consider a firm whose technology has decreasing returns to scale throughout and who faces a recurring fixed cost. Denote the level of capita chosen in the long run at the lowest point of the long...
-
True or false: One firm conclusion from this course is that wage gaps are entirely driven by differences in preferences across groups, rather than by differences in constraints or by discrimination....
-
This table represents some of John's costs of production. John operates in a perfectly competitive market and takes price as given. At a quantity of three units, for example, a variable cost of $54...
-
B-bol King Co. started a new promotional program. For every 10 box tops returned, customers receive a basketball. The entity estimated that only 60% of the box tops reaching the market will be...
-
What are Equal Exchange's competitively important resources and capabilities? Which of its resources have the greatest competitive power? Are any of its resources and capabilities able to pass all...
-
a. Paid $54,000 cash to replace a motor on equipment that extends its useful life by four years. b. Paid $270 cash per truck for the cost of their annual tune-ups. c. Paid $216 for the monthly cost...
-
E8.1. Some Basic Calculations (Easy) a. A firm listed total shareholders' equity on its balance sheet at $237 million. Preferred shareholders' equity was $32 million. What is the common shareholders'...
-
Tolo Co. plans the following repurchases: $10 million in one year, nothing in two years, and $20 million in three years. After that, it will stop repurchasing and will issue dividends totaling $25...
-
Description: The bill below was received on February 1, 2021. Please fill out the transaction form below to display how this invoice would be booked. In addition, please add any questions you may...
-
What is happening to the marginal productivity of workers as marginal costs fall?
-
A small nation produces and sells all the oil it wants at the world price of $70 per barrel. On the other hand, it sells some of its oil to its own citizens for the equivalent of $10 per barrel. For...
-
Joe Smith, an old-fashioned engineering student, believes that the boiling point of water is best suited for use as the reference point on temperature scales. Unhappy that the boiling point...
-
Explain the background and prerequisites of supply chain management. Present the basic factors for implementing cooperation between companies in relation to supply chain integration, and discuss what...
-
You're soliciting for a $2M non-commercial research and development effort to produce prototypes for a handheld virus scanner. There appears to be only one source capable of performing this...
-
1. what is the Nordic Model to prostitution?2. what are the advantages/disadvantages of the Nordic Model?3. many groups (including the ACLU) advocate for the decriminalization or legalization of sex...
-
A property owner is considering installing electric valves with automatic timers on their sprinkler systems. They estimate needing 45 valves and timers costing $65 for each set. Initial installation...
-
Will each scenario shift the aggregate supply curve, the aggregate demand curve, both, or neither? Items (4 items) (Drag and drop into the appropriate area below) A new technology makes workers more...
-
Write as a single integral in the form J, f(x) dx:
-
Which internal control principle is especially diffi cult for small organizations to implement? Why?
-
The Delaware River Joint Toll Bridge Commission increased the toll from $0.50 to $1.00 on the bridges on Route 22 and Interstate 78 from New Jersey to Pennsylvania. Use the information in the...
-
Use the following graph for Yolanda's Frozen Yogurt Stand to answer the questions on the next page. a. Use the midpoint formula to calculate the price elasticity of demand for D1 between point A and...
-
Define the cross-price elasticity of demand. What does it mean if the cross-price elasticity of demand is negative? What does it mean if the cross-price elasticity of demand is positive?
-
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
-
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
-
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...
Study smarter with the SolutionInn App