Q: rease in the short run ease in the short run
A: Cash balance refers to the part of income that people want to hold as cash in hand.
Q: The long run is different from the short run in that, in the long run, a. Resources prices are…
A: The SR {"short-run"} is described as a concept in which one input factor is fixed and the other…
Q: A few sentences for the response please. How does the impact of fixed costs change production…
A: Fixed costs are amount of dollars expended on fixed factors of production such as land, building,…
Q: Hisham owns a factory producing furniture, He is planning to expand production to attain the long…
A: After determining the least expensive manufacturing technique, a company can think about the best…
Q: In the short run, the average total cost of producing 200 pizzas is $ A In the long run, the average…
A: The short run is the period where at least one factor of production is fixed and cannot be changed.…
Q: Suppose that firms in the zipper industry have the production technology: F(K,L)=4K^(3/4) * L^(1/4)…
A: Answer: Given: Production function: FK,L=4K34×L14 Cost/price of labor = 27 Cost/price of capital =??…
Q: In Production Theory, what is meant by a “short-run” production period? What is meant by a…
A: In short run production theory there are fixed cost,whereas in long run there are no fixed cost.
Q: What explains the shape of the average and marginal cost curves? Is it linked to any production…
A: Marginal cost is the measurement of change in total cost with the increment of quantity produced by…
Q: The most efficient scale of production is where at which point?
A: According to the given question In simple words we can say that scale of production basically or…
Q: 1. (Production) Jasmine has just inherited a restaurant. In the short run, she has to stick with the…
A: The short-run is a notion that states that at least one input is fixed while the others are variable…
Q: Imagine that you are considering starting your own business. Please share what you think would be…
A: The potential advantages that an individual, investor, or organization foregoes by choosing one…
Q: Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial…
A: a. By accountant’s definitions, he will incur loss. Profit = TR-TC TR = 100000 TC = 4000 + 2 x 50000…
Q: 1. (Production) Jasmine has just inherited a restaurant. In the short run, she has to stick with the…
A: The short-run is a notion that states that at least one input is fixed while the others are variable…
Q: Jalal runs a restaurant in his area. Staff at his restaurant have been working for long hours, they…
A: As from the given statement it is shown that Staff at Jalal's restaurant have been working for long…
Q: How would this change in the long-run? Can you show the graph in the long-run too?
A: The long run is a long time which is enough for capital as a factor of production to be variable and…
Q: what instances will the economists/managers use short run and long run production. Give actual…
A: In financial aspects, short run alludes to a period during which somewhere around one of the…
Q: What level of output does a firm produce?
A: The quantity of products and services produced in a particular time period is referred to as output…
Q: The optimal level of production for any company is the level of production that either maximizes…
A: All firms will make the production where its marginal revenue (MR) equals to marginal cost (MC), to…
Q: What stage of production is efficient region of production in short run?
A: There are three stage of production. The law of variable proportion can be divided into three…
Q: Think about running a restaurant. It is likely the case that: a. cooks and hosts are variable…
A: Variable cost means the cost which occurs due to the employment of variable inputs/resources while…
Q: what is the importance of long run and short run production in production theory?
A: A production function is a functional relationship between the inputs which are used in the process…
Q: In economics, the cost of production is defined as the expenditures incurred to obtain the factors…
A: 1) When a firm pays the annual allowance of $10,000to the accountant, is an economist cost. This is…
Q: You have fulfilled your dream by buying a McDonald’s franchise. You start hiring employees and come…
A: This occurs due to the Law of Diminishing Returns. According to this law, as more and more units of…
Q: If production increases, what happens to average fixed cost (AFC), does it increase only, decrease…
A: The average fixed cost (AFC) decrease only if the production increases.
Q: What stage of production is the increase in output that results from increase in a firm's outputs by…
A: When the increase in output that results from increase in a firm's output by some proportion it is…
Q: How could this be possible? What is Mrs. Bill assuming about the output range in which Bill is…
A: Initially, Buffalo Bill is at a loss on every packet of Buffalo's chips he sells. On the…
Q: 0:54:02 Peter's Pancakes sells various flavoured pancakes. To produce 1,000 pancakes, the firm…
A: Factors of production are needed to produce final goods. The factors of production used to make…
Q: How does the firm increase its production in the long-run? What input/s can it use to increase…
A: The process of production is the transformation of the raw materials into the final finished goods…
Q: The short run is a time period that is A) long enough to change the size of the firm's plant. B) too…
A: Time period refers to the amount of time required for a factor to change. Time period influences the…
Q: Which stage of short run production is efficient? Why?
A: In microeconomics, we have two time periods namely short run and long run. Short run is the time…
Q: In a short run, when you are producing pair of shoes, a leather Is under what cost? a. variable cost…
A:
Q: If MR > MC, the firm should produce more output.
A: Marginal Revenue represents the additional revenue that a firm earns by producing one more unit of…
Q: What best describes the long run? a period of time that labor can change a period longer than six…
A: The long run is a span of time during which all production parameters and costs are subject to…
Q: Businesses operate in the short run, but do they ever operate in the long run? Explain
A: In the field of economics, it is assumed that firms work towards achieving their objective of…
Q: What are some examples to illustrate Henry Hazlitt's lesson that what is true in the short run may…
A: According to Henry Hazlitt's lesson: Actions that are advantageous in the short run can cause…
Q: In the economics for a company what is the difference between short run and long run In the long run…
A: In economics, factors of production can be of two types which are fixed and variable. In the short…
Q: Smiling Cow Dairy can sell all the milk it wants for$4 a gallon, and it can rent all the robots it…
A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: In the long run, firms try to decide which combination of technology, capital, labor and other…
A: The firm's main objective is to maximize profit and minimize costs and the firm decides on the best…
Q: a. Discuss the following statements: i. The second stage of production is the optimal one for a firm…
A: There are three stages of production. 1. stage -1 : Increasing return 2. Diminishing return 3.…
Q: In the short run, if a firm chooses to operate and produce output, it must be the case that
A: The shutdown point of a firm comes when the price of the goods sold is less than the variable cost…
Q: Refer to the figure at right. An increase in production from q, to q, A. is more costly in the short…
A: In the short run at least one input is fixed and in long run all inputs are variable.
Q: Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial…
A: 1. The accounting profit includes explicit costs and the explicit revenue only in the calculation.…
Q: Amazon's second headquarter coming to town Following up on the in-class discussion about the effect…
A: Given, Amazon decides to open a second headquarter (HQ2) which would be divided into two locations-…
Q: Suppose you are a producer and you need to identify what combination of labour and capital you…
A: An isoquant shows all the combinations of two inputs that a firm uses to produce any given level of…
Plant sizes get larger as you move from Plant 1 to Plant 4. In the long run, the firm should use Plant 3’s size for what level of output?
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- Energy entrepreneur T. Boone Pickens has proposed converting the trucking fleet in the United States to liquefied natural gas (LNG) and using wind power to replace the missing LNG in electric power production. What infrastructure issues do you see that must be resolved before the Pickens plan could be adopted?How did you come up with the Fw = A( F/A, i1, n1 ) ( F/P, i2 , n2 ) + A( F/A i2, n2 ) formula?The Monty Corporation has a staff of sales people who are paid a monthly salary of $1,400.00 plus an incremental commission based on the table below. If Sally sells $25,700.00, what is her total gross pay for the month? Level Sales Volume CommissionRate 1 9,100–17,600 3.1% 2 Over 17,600 4% $2,269.60 $2,369.60 $2,469.60 $2,569.60
- Summarize this article. Provide your thoughts.?????Configuration Management vs Change Management Done???? Changes are inevitable in any project's or product's life cycle. Some changes have either positive or negative effects on the project's baseline schedule, baseline budget, performance, and profitability. Other changes may affect the technical specifications and/or scope of a product. Although Configuration management and change managementrefer to two different concepts, they are complementary to each other. Many PMP aspirants are familiar with the change management concept. However, configuration management is not well known outside the IT industry. As per The PMBOK Guide, Configuration Management Plan and Change Management Plan are separate plans and they are subsidiary plans of the Project Management Plan. In this article, we will discuss both concepts and their key aspects. What is Configuration Management and Why is It Important? The configuration management focuses on how…Your friend Sarah is planning to open a hardware store. She estimates that it would cost $50,000 each month to rent the location and buy the inventory. In addition, she would have to quit her $3,000/month job at an insurance firm. Her revenue for the store would be $60,000 each month. What is her expected accounting profit per month if she opens the hardware store? A $10,000 B $60,000 C $5,000 D $50,000 E $55,000 F $45,000Additional Information: Another company has offered to purchase the Bayou contract from TWW and to assume responsibility for all current and future liabilities. If TWW sells the contract, it would initially receive $200 million for the sale, but there is a 50% chance that "bad press," human capital recruiting challenges, and distrust among potential customers and government regulators would cost it $500 million in future business opportunities. Furthermore, the bats would still be at risk if the new owner of the contract proceeds with construction. Choice a: Do nothing and proceed with the project as originally planned. Choice b: Sell the project. Choice c: Shut down the project. Pick a choice, either a, b, or c. Use the following questions to explain your decision. Answer the question as the Government Representative, Mayor's Office 1. How may the supply and demand of local real estate be impacted by these decisions? 2. How may the market price of local real estate be…
- Additional Information: Another company has offered to purchase the Bayou contract from TWW and to assume responsibility for all current and future liabilities. If TWW sells the contract, it would initially receive $200 million for the sale, but there is a 50% chance that "bad press," human capital recruiting challenges, and distrust among potential customers and government regulators would cost it $500 million in future business opportunities. Furthermore, the bats would still be at risk if the new owner of the contract proceeds with construction. Choice a: Do nothing and proceed with the project as originally planned. Choice b: Sell the project. Choice c: Shut down the project. Use the following questions to explain your decision. Answer the question as the Government Representative, Mayor's Office 1. How may the supply and demand of local real estate be impacted by these decisions? 2. How may the market price of local real estate be impacted by these decisions? 3. May the…Problems and Applications: Question 8Question content area top Part 1 In this problem, we consider replacing an existing electrical water heater with an array of solar panels. The net installed investment cost of the panels is $1,520($1,900less a 20 % tax credit from the government). Based on an energy audit, the existing water heater use 180 kilowatt hours (kWh) of electricity per month, so at $0.14 per kWh, the cost of operating the water heater is $25.2per month. Assuming the solar panels can save the entire cost of heating water with electricity, answer the following questions. a. What is the simple payback period for the solar panels? b. What is the IRR of this investment if the solar panels have a life of 12 years?
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