Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Explain why there are no fixed costs in the long run A firm faces no fixed costs in the long run. To help understand this

Explain why there are no fixed costs in the long run

A firm faces no fixed costs in the long run. To help understand this idea, let's consider some applications that we may run into. For this discussion, your task is to:

  1. Pick a cost that is fixed in the short run for either a real-world or hypothetical firm connected to your career path or field of interest.
  2. Explain why, in the long run, this cost is likely to become variable for that firm.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: Stephen D. Williamson

6th Edition

013447211X, 134472119, 978-0134472119

More Books

Students also viewed these Economics questions

Question

8. How can an interpreter influence the message?

Answered: 1 week ago

Question

Subjective norms, i.e. the norms of the target group

Answered: 1 week ago