Does a firms price equal marginal cost and the minimum of average total cost in the short

Question:

Does a firm’s price equal marginal cost and the minimum of average total 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

Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

See More Books

Question Posted: Nov 04, 2024 07:00 AM

See More Questions

Part one Explain the following. 1. Compared with a perfectively competitive market a monopoly is inefficient because a. it raises the market price above marginal cost and produces a smaller output....
Question 1: An uprising entrepreneur phones afin de produce wilt. This firm hasa production faction given by In particular, this timha K-25. This quants are fixed in the stren. Let w dnete the real...
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...
Cutler Manufacturing manufactures and distributes specialty piping used in the construction industry. Due to the recent contraction in the commercial construction market, the company has had...
Chock, a U.S. corporation, purchases inventory for resale from distributors within the United States and resells this inventory at a $1 million profit to customers outside the United States. Title to...
The resultant F R of the two forces acting on the log is to be directed along the positive x axis and have a magnitude of 10 kN, determine the angle ? of the cable, attached to B such that the...
Does a firms price equal marginal cost and the minimum of average total cost in the short run, in the long run, or both? Explain.
Two humid gas streams are combined in a heated mixing chamber. The first stream contains 23.5 mole% ethane and 76.5% ethylene on a dry basis and enters the chamber at 25C and 105kPa at a rate of...
The income statement helps users a . All of these answer choices are ways in which the income statement helps users. b . review the impact of economic factors affecting the company. c . compare and...
Under what conditions will a firm exit a market? Explain.
Explain the difference between increasing, constant and decreasing returns to scale.
Find the slope of each line.
Tianyu has a $10 budget for his breakfast at his favorite coffee shop. The menu has two items: coffee is $5 per cup and croissants are $2.5 per each. The coffee shop has a special promotion for...
The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout...
Problem: You are a manager at a certain factory that designs small gadgets. The factory has been quite successful in the past years. Your CEO is wondering whether or not it is a good idea to expand...
123 1. Relevance 5. Faithful representation 2. Neutrality 6. 3. Verifiability 7. Comparability Understandability 4. Timeliness For each of the following situations, indicate which qualitative...
Introduction: Google search has a feature called automatic search completion. When you start typing a search query, google will try to auto complete your sentence. An example is shown below: Google...
Some parachutes have holes in them to allow air to move smoothly through the chute. Without the holes, the air gathered under the chute as the parachutist falls is sometimes released from under the...
A 6-lb shell moving with a velocity ?? v0k explodes at point D into three fragments which hit the vertical wall at the points indicated. Fragments A, B, and C hit the wall 0.010 s, 0.018 s, and 0.012...

Does a firms price equal marginal cost and the minimum of average total cost in the short

Question:

Step by Step Answer:

Economics

Students also viewed these Business questions