Which of these must be present before you, as an economic advisor, would recommend a new company enter a competitive market?   Question 33 options:   An expectation to earn an accounting profit.   Existing firms producing goods at the up-sloping portion of the average cost curve.   An expectation to earn an economic profit.   Existing firms producing goods at the lowest average cost.

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A: Here, it is given that a firm is enjoying a high accounting profit, but facing an economic loss.

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A: The demand-driven market is a market that works according to the latest trends in the market.

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A: Total cost is the sum of fixed and variable costs. Total fixed costs are the total obligation of the…

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A: There are two main components of the total cost(TC) that a firm incurs. One is the variable cost(VC)…

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A: Given information

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A: Given: Total revenue = 100 Cost (Explicit+Implicit) = 200

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A: Economies of scale are the point at which the expense per unit of creation (Average expense)…

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A: Sunk cost refers to those cost that are incurred earlier and unable to recover it. Since, this sunk…

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A: Profit = total revenue - total cost

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A: Given:- TR=$2Q TC=$5500+$1.3Q To calculate:- Break even output level and profit at 8600 unit sale=?…

Q: Economies of ______ occur when a single firm can produce two products for a lower total cost than…

A: Economies of scale occur when a single firm can produce two goods for a lower total cost than two…

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A: Fixed cost: This cost does not change with a rise or fall in the number of goods or services…

Q: Question 11 A firm that is suffering an economic loss in the short run should continue to operate as…

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Q: The following table provides information about long-run average cost curve of a firm: Quantity LRAC…

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A: The monetary value of production is that the distinction in total production prices that results…

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A: Formula:  Profit = (Selling price*units sold) - (fixed cost + (variable cost * units sold)

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A: By definition, marginal cost refers to the additional amount of cost which the firm has to bear for…

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A: Total cost is the sum of fixed and variable costs.

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A: The profit is maximized where the MR = MC.

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A: Prices are the value of goods and see sold in the market.

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Q: The difference between economic profit and accounting profit is that economic profit is calculated…

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A: Average Cost (AC): - it is the average value of total cost incurred on a specific unite of output.

Q: f a firm has negative accounting profits in the short run, it should   Question 10 options:   All…

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A: The average variable cost is the cost per unit of total variable cost. AVC=TVCQ

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A: A fixed cost is the cost that does not change with output. It remains fixed throughout the period…

Q: Which of the following represents a long-run decision for the firm? a. rehiring workers who were…

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Q: firm is producing and selling some output at an average variable cost of $8 per unit and bringing in…

A:

Q: A competitive firm uses two variable factors to produce its output, with a production function y =…

A: Y = min(x1,x2) P(x1) = w1 = $8 P(x2) = w2 = $5 Q ≤ 10 , FC = $80 Cost function = 13q + 80 Minimum…

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A: Fixed Cost remains same at all levels of Output. Average Fixed Cost = Total Fixed Cost / Quantity

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A: In a market, profit refers to the difference between firm's total revenue and total cost that is…