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Q: Which of the following are short-run and which are longrun adjustments? a. Wendy’s builds a new…
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Which of the following are short-run and which are longrun adjustments? IBM hires 200 more software engineers.
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- Which of the following are short-run and which are longrun adjustments? a. Wendy’s builds a new restaurant.b. Harley-Davidson Corporation hires 200 more production workers.c. A farmer increases the amount of fertilizer used on his corn crop.d. An Alcoa aluminum plant adds a third shift of workers.Which of the following is an example of a long run adjustment? Your university offers Saturday morning classes next fall. Ford Motor Company lays off 2,000 assembly line workers. A soybean farmer turns on the irrigation system after a month long dry spell. Wal-Mart builds another SupercenterWhat is the difference between a feasible production plan in the short run and in the long run? Give an example of a real product and the major inputs necessary to produce the product and then a short run and long run production plan.
- Which of the following are short-run and which are longrun adjustments? Wendy’s builds a new restaurant.In economics, the short run is a period of time A of one year or less.B in which all inputs are variable.C in which all inputs are fixed.D in which the quantity of at least one input is fixed and the quantities of the other inputs can be varied.E in which all inputs are variable but technology is fixed.Consider the fictitious firm, Icelandic Investment Managers (IIM). The company hire investment managers as workers and laptop computers with artificial intelligence (AI) as capital to offer investment advice to clients. Both managers and the AI can provide advice, but they are not perfect substitutes. Draw representative isoquants for the two inputs. What assumptions are you making when you draw the isoquants? If the AI gets smarter, and as a consequence the inputs are more substitutable, what should happen to the shape of the isoquants? Both inputs are costs; managers have to be paid a wage, called “w” and the AI needs electricity, the price of which is “Pe”. This will generate an isocost line for a particular cost level C*. Please draw this, explaining carefully and fully the purpose of the axes. Now we can put these together. For a given output level of advice, A*, show what the optimal level of inputs are for IIM in a diagram. What is the economic interpretation of the intersection…
- For an increase in output, average costs change by more in the short-run than in the long run, but for decrease in output, the opposite is true. True or false explain in detail.Which of the following are short-run and which are long-run adjustments? a. Wendy’s builds a new restaurant. b. Harley-Davidson Corporation hires 200 more production workers. c. A farmer increases the amount of fertilizer used on his corn crop. d. An Alcoa aluminum plant adds a third shift of workers.Which is more costly, the short-run adjustment between Monday and Tuesday or a long-run adjustment?
- i need urgent i will give 10 upvotesFor an increase in output, average costs change by more in the short run than in the long run, but for a decrease in output, the opposite is true. Explain why the above statement is True, False, or Uncertain according to economic principles.Which are the following are short-run and which are the long-run adjustment? Explain in your own words with the help of examples. Wendy’s builds a new restaurantHarley-Davidson corporation hires 200 more production workers.A farmer increase the amount of fertilizer used on his corn cropAn Alcoa aluminum plants add a third shift of workers
