With respect to production, the short runis best defined as a time period O lasting up to six months. O lasting up to two years. in which all inputs are fxed. O in which at least one input is foxed.

Q: Completed 58 out of 60 uestion 31 of 60 If output falls below equilibrium, marginal cost will be…

A: The output falls below equilibrium then there is a shortage where Qd>Qs and the marginal cost is…

Q: The Cobb-Douglas production function for a particular product is N(xy) = 80x"y where x is the number…

A: Production function:   N (x,y) = 80x0.7y0.3    Wage per labor (w) = $80   Rent per capital (r) =…

Q: our firm has discovered a cheap and efficient technology of turning used plastic bottles and bags…

A: 2000 helmets are sold every year at a price of $10 per helmet. Hence the total revenue earned from…

Q: Marginal cost is plotted (as an approximation) halfwa between successive units of output. a. True O…

A: Total cost: Total cost refers to the cost that includes fixed cost and variable cost. Here, fixed…

Q: Total variable cost is 0 at zero level of production True/Falss

A: # Total cost incurred by the firm is the sum of both fixed and variable costs.  Total.fixed cost is…

Q: What is the optimum level of production? Price Total cost 200 90 190 180 Quantity 180 170 160 150…

A: Optimum level of production is achieved when firm earn normal profit as in the case of perfect…

Q: ext year after Matt decides to renew his lease. (maybe unwisely depending on how you swered the…

A: It is given that Chris Hemsworth lies about body shredding capabilities of rutabaga and the demand…

Q: when studying the in formation related to Al- Kufa factory itis explained that selling price for one…

A: Price = 200 Variable Cost = 150 Fixed Cost = 48 million = 48000000 TC = 150Q + 48000000 TR = 200Q So…

Q: E. The cost of platinum to be purchased to pport Augut production is A S198,000 B. $200,160 C.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 1. The estimation of a Cobb-Douglas production function for 20 firms of a given industry yields:…

A: In this case, Cobb-Douglas production function is given. So it is a nonlinear production function.…

Q: A manufacturing firm can sell x number of units of each product produced per month at a price of (24…

A: TR(TOTAL revenue) is the product of p(price) and x(quantity). TC(TOTAL cost) is the sum of fixed and…

Q: Given that fixed cost=230 and variable cost=12Q; the total cost of producing 30 units of output is?…

A: Total fixed cost = $230 Total variable cost = 12Q Units = 30 units  Total cost = ?

Q: PRICE MARGIN AL ТОТА AVER AGE WORKE AVER AGE MAR GINA OUTPU AVERA ТОТА MARG INAL Т (Total | (P)…

A: A production function uses the factors of production (like labour, capital, technology, raw…

Q: Assuming a firrh has this short-run production data below, do the following: a. fill-in the rest of…

A: Production function tells the technological relation between quantities of physical inputs and…

Q: Inder which of the folowing axamples is tlikaly that the accounting profit is positive and the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: A firm produces 5000 waterproof cellphone cases, which they sell for $30 each. They have $35,000 in…

A: Answer to the question is as follows:

Q: w of diminishing returns

A: Explanation: It primarily associates the rise within the variety of labor hours with the subsequent…

Q: L'a i a b. Write the tangency condition for a minimum of long run total cost, LTCmin- C= 'WL+ rk ( W…

A: Given production function Q=L1/2K1/2         .... (1) Isocost line equation: C=wL+rK

Q: A firm’s LRTC = 600Q - .5Q2 + .001Q3.  At what level of output does the firm experience minimum…

A: LRTC = 600Q - .5Q2 + .001Q3.

Q: Large, stationary equipment such as tabletops cannot be placed in the sink ike pots and pans, so…

A: Due to various diseases spreading after the COVID 19 breakdown, everything must be taken care of…

Q: Carlota Music Company estimates that the marginal cost of manufacturing its Professional Series…

A: As given marginal cost is C'(X) = 0.02X +100 and Fixed cost = $4000/ month

Q: For output level Q, per unit costs of B are: Long-run ATC Output Multiple Choice obtainable and…

A: In the given graph, long-run average total cost curve of a firm is given.

Q: Zodiac Furniture is considering the production of anew line of metal offi ce chairs. Th e chairs can…

A: Let point of indifference between Process A and B is x. So, 1000 + 30x = 2000 + 40x or,  30x  -  40x…

Q: Al its current short-run evel of production, a irm's average variable costs equal $30 per unit, nd…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: You're company manufactures on large scale unit and it has been shown that marginal or variable cost…

A: Answer- Need to find- Determine by integration the total cost, the total revenue , the break even…

Q: "o firms products are w unt cost functions are C For this unique product pur rival simultaneousl on…

A: A)  Here, in the case that the firm don't take the venture/investment the benefit would be 54080 for…

Q: If output is below full emplc True O False

A: when output exceeds full employment then, in that case, the actual rate of unemployment is less than…

Q: SCENARIO 2. A firm's production function is given by Q = 4K + 8L and the input prices for capital…

A: The production function shows that K and L are perfect substitutes, meaning only one of them is…

Q: Northwest manufactures a product requiring 0.5 ounces of platinum per unit The cost of platinum is…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: It costs a firm $200 per unit to produce product A and $350 per unit to produc together at $500 per…

A: There two type of action in which firm can work (i) scale and (ii) scope , if the firm work good in…

Q: Assuming a firrh has this short-run production data below, do the following: a. fill-in the rest of…

A: We have given the value of the total and marginal products at the various combinations of the fixed…

Q: Consider two different cost structures for the same firm. The first bas higher variable costs per…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: This is the answer plz write Clear hand written Y=5K0.5 +3L Multiply k & L by X = 5(X k) ⁰.³ + 3…

A: We need to check for the returns to scale ik this question.

Q: It is an expression of the increase in the cost of goods and services from one year to the next. О…

A: When the prices of goods and services increase then consumers are unable to maintain their current…

Q: Assume that the operation has the cost function CIC) = 200 - 30 - 80- 40 and the marginal cost…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: A department store is about to order deluxe, standard, and economy grade DVD players for next year's…

A: Inventory refers to the goods that are held by a seller or producer for sale in the market in order…

Q: Lulu hypermarket estimates daily demand of 18 kgs for a product. It costs RO 100 to make and receive…

A: Given the information: Daily demand = 18 kgs Costs to make = 100 Annual holding cost = 25%

Q: 10. When a firm produces 50,000 units of output. its total cost equals OMR 65 million. When it…

A: The marginal cost refers to the amount of an additional cost incurred in the process of increasing…

Q: A company produces and sells a product and fixed costs of the company are 8500000 Baisa and variable…

A: Given, total fixed cost = 8500000 Baisa = RO.8500      (as 1000 Baisa = 1 Omani Rial (RO) Total…

Q: A company producing two different goods of quantities m and n, function 1(m,n) = -3m² – 2n² – 2mn +…

A: Given: Profit function: π(m,n) = -3m2-2n2-2mn+160m+120n-18

Q: = A group of management students are creating a business plan for their proposed shoe brand…

A: Cost of production refers to the monetary value incurred on factors of production. And TC = FC + VC…

Q: NUBD, is beginning the production of a new product. Management believes that 500 labor hours will be…

A: A learning curve is a concept that graphically displays the relationship between cost and production…

Q: When MR falls to 0 then AR becomes maximum True/False

A: # Marginal revenue is the change in the revenue taking place and Average revenue is the ratio of…

Q: Cost LRAC 40 30 20 N 10 100 200 400 800 Output a. What is the cost per unit when the firm produces:…

A: Total Cost per unit of output is also called average cost. The figure shows long run run Average…

Q: The fixed cost related to the production of a product is $500,000 per year. Assume that the variable…

A: In economics, business, and specifically cost accounting, the break-even point is the point at which…

Q: The demand function for a certain product is determined by the fact that the product of the price…

A: Answer to the question is as follows :

Q: e margin? MR is less than MC at the currently planned scale of production MR is geater than MC at…

A: Marginal expense of production incorporates every one of the costs that fluctuate with that degree…

Q: Molowing statoments is true? O An explicit cost is more important, dolar for dollar, than an…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: a)A short run total cost function of company is given below: TC=1500+225Q-15Q²+Q³•where TC is total…

A: TC = 1500 +225 Q - 15Q2 + Q3 MC = ∆TC / ∆Q