What constituted “long-run” for the Cheung’s Company? Introduction: Cheung’s Company - Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time. Long Run - It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments. Short-Run - It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

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Answer 1

Question

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

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Answer 2

Question

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

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Answer 3

Question

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

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Answer 4

Question

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

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Answer 5

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

Answer 6

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

Answer 7

Chapter 25, Problem 1CTQ

To determine

What constituted “long-run” for the Cheung’s Company?

Introduction:

Cheung’s Company- Cheung’s Company “Spork” was an online food and restaurant rating app started with a low startup cost and registering about 1,00,000 app downloads in a short period of time.

Long Run- It is the time period when all factors of production i.e land, labor, capital and organization are flexible. The period is long enough to make all adjustments.

Short-Run- It is the period when at least one factor of production is fixed that is, the period is not long enough to adjust all factor of production.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 25 - Prob. 25.1LO Ch. 25 - Prob. 25.2LO Ch. 25 - Prob. 25.3LO Ch. 25 - Prob. 25.4LO Ch. 25 - Prob. 25.1SC Ch. 25 - Prob. 25.2SC Ch. 25 - Prob. 25.3SC Ch. 25 - Prob. 25.4SC Ch. 25 - Prob. 1CTQ Ch. 25 - Prob. 2CTQ

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