Why can short-run average cost never be less than long-run average cost for a given level of
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
Because shortrun average cost inclu...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Micro Economics questions
-
A: Suppose you have a homothetic production technology and you face input prices (w,r). (a) On a graph with labor on the horizontal and capital k on the vertical axis, illustrate a ray along which...
-
1. The presence of _______explains the negatively sloped portion of a long-run average-cost curve, and the notion of _______explains the horizontal portion of the curve. 2. Consider the information...
-
A firm producing hockey sticks has a production function given by q = 2 K L In the short run, the firms amount of capital equipment is fixed at K = 100. The rental rate for K is v = $1, and the wage...
-
Let be an arbitrary operation in Problems 5259. Describe the operation for each problem. 503 = 2; 702= 5; 901 = 8; 8 0 2 = 6;
-
List possible sources of additional paid-in capital
-
A die is rolled 6 times. Find the probability of getting at least one 4. Would you consider this event likely or unlikely? Explain your answer.
-
What challenges does a company that's growing face? LO1
-
As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2015, the following tentative trial balance as of December 31, 2014, is prepared...
-
Presented below is the November 30, 2019, unadjusted trial balance of Jassy's Beauties, which is owned by Jassy Corporation. The temporary account balances represent the results of entries recorded...
-
Oak Grove Inc. has a petty cash fund of $1,500. (a) Since the petty cash fund is only $1,500, should Oak Grove Inc. implement controls over petty cash? (b) What controls, if any, could be used for...
-
What are economies of scale? What are four reasons that firms may experience economies of scale?
-
An article in the Wall Street Journal described the Chinese automobile industry as "a hodgepodge of companies," most of which produce fewer than 100,000 cars per year. Ford Chief Executive Alan...
-
The article Heavy Drinking and Problems Among Wine Drinkers (Journal of Studies on Alcohol [1999]: 467471) analyzed drinking problems among Canadians. For each of several different groups of...
-
D manufacturing Company uses a process cost system. In the second department, Department X, spoiled units occur when units are 70% complete. Direct Materials are added at the end of the process....
-
This week, I read Pat Friman's 2021 article, "There Is no Such Thing As a Bad Boy: The Circumstances View of Problem Behavior," on adopting The Circumstances View when working with clients. In this...
-
Download the labour force statistic for Australia from the ABS website here. Use the data to answer the following questions only. You do not have to analyze the data. Show proof when you make...
-
Split Corporation manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products based on relative sales values of the products at the split-off point....
-
A television show conducted an experiment to study what happens when buttered toast is dropped on the floor. When 44 buttered slices of toast were dropped, 28 of them landed with the buttered side up...
-
Design a pair of plastic gears to drive the wheels of a small remote control car. The gear is mounted on the axle of the wheel and must rotate between 120 and 122 rpm. The pinion rotates at 430 rpm....
-
If (x) 0 on the interval [a, b], the definite integral gives the exact area under the curve between x = a and x = b.
-
William Easterly in The White Mans Burden shared the following account by New York University Professor Leonard Wantchekon of how Professor Wantchekons village in Benin, Africa, managed the local...
-
You and a friend are discussing the role of government in the economy. Her viewpoint is that governments should not interfere with the operation of markets. After reading this chapter and Chapter 4,...
-
The chapter describes an efficient level of pollution. Going beyond being able to answer a test question on this topic, did the concepts in this chapter convince you there is an efficient level of...
-
A company manufactures lawnmowers. Compute the total amount of period costs from thr following costs.
-
TestAnswerSavedHelp opens in a new windowSave & ExitSubmit Item 1 7 1 0 points Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1 : 2 0 : 1 8 Item 1 7 Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1...
-
Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance...
Study smarter with the SolutionInn App