1.5. Does a firms price equal marginal cost in the short run, in the long run, or...

Question:

1.5. Does a firm’s price equal marginal cost in the short run, in the long run, or both? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Economics

ISBN: 9780324168624

3rd Edition

Authors: N. Gregory Mankiw

See More Books

Question Posted: Nov 05, 2024 04:00 AM

See More Questions

Plz answer the following 3 mcqs and 1 frq 13, Rice is produced in a perfectly competitive industry. Grand Farm is a typical rm in the rice industry earning a positive economic prot. a. Using...
1. In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The cost and output structure that the firm faces is depicted in the following table. Labor Total...
Can you please help me answer two questions based on the readings below. 1 How would you contrast the mainstream economics view of consumer behavior in 9.3, with the demand curve in general, and also...
17. [1.1/2 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER Write the composite function in the form f(g(x)). [Identify the inner function u-g(x) and the outer function y=f(u).) (Use...
This is a short report. The report should include: Introduction, Brief description of how you collected your data Results, Recommendations this report based on data we distributed to employees in...
If couple forces F are applied to the handle of the machinists vise, determine the compressive force developed in the block Neglect friction at the bearing A. The guide at B is smooth. The single...
1.5. Does a firms price equal marginal cost in the short run, in the long run, or both? Explain.
The data shown in Table 11.E1 come from a production process with two observable quality characteristics: x1 and x2. The data are sample means of each quality characteristic, based on samples of size...
"What have you learned in this certificate course that you believe will be beneficial to your career?
1.4. Under what conditions will a firm exit a market? Explain.
1.6. Does a firms price equal the minimum of average total cost in the short run, in the long run, or both? Explain.
General Consultants Ltd. has four divisions, whose summary profit reports are shown below (in thousands of dollars): The senior partners are considering whether to continue with the Finance and...
MASTER BUDGET PROJECT: ADJUSTING AND CLOSING BOOK ENTRIES TEMPLATE ACCT 5362 Accounting Principles WEEK 7: To "close the books" for the year, review Principles of Accounting, Volume 1: Financial...
PacRim Careers provides training to individuals who pay tuition directly to the business. The business al offers extension training to groups in off-site locations. Additional information available...
PacRim Careers provides training to individuals who pay tuition directly to the business. The business also offers extension training to groups in off-site locations. Additional information available...
Styles 1. Examine the flowchart and then find and correct all the bugs. 2. Use Draw.io to draw your corrected flowchart. 3. Save your corrected flowchart as a drawio file (Use the Save As option in...
CPP 6-1 Complete 4th Quarter and Year-End Payroll Reporting (#2) Complete Form 941 for the 4th quarter for TCLH Industries (which is located at 202 Whitmore Avenue, Durham, NC 27701; Employer...
By what factor will the rms speed of gas molecules increase if the temperature is increased from 0oC to 100oC?
During the year land was revalued and the surplus reported as Revaluation surplus; and an asset costing 80,000, written down to 38,000, was sold for 40,000. Identify the cost of any non-current...

1.5. Does a firms price equal marginal cost in the short run, in the long run, or...

Question:

Step by Step Answer:

Principles Of Economics

Students also viewed these Business questions