ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 8, Problem 3.6P
To determine
The loss when firm decides to shut down in the short run.
Introduction: Not required.
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11-
Al Shaihani is a halwa manufacturer which is famous for Omani Saffron Halwa. They wanted to increase their supply of halwa for the coming month of August 2021. However, due to COVID-19 Pandemic, the only available resources they could change are the number of their workers. Determine which type of production period Al Shaihani business is facing?
a.
Long run
b.
All of these
c.
Short - run
d.
Mid-run
Question 21.21. Which would be an implicit cost for a firm?Ā The costĀ
Ā Ā Ā Ā Ā Ā of worker wages and salaries for the firm.
Ā Ā Ā Ā Ā Ā Ā paid for leasing a building for the firm.
Ā Ā Ā Ā Ā Ā Ā paid for production supplies for the firm.
Ā Ā Ā Ā Ā Ā Ā of wages foregone by the owner of the firm.
28 -
: Total variable cost of firm X is 100 and total fixed cost is 20 TL.Ā The firm produces 40 units of goods.Ā What is the firm's average cost in this case?
Ā
Ā a)
3
Ā B)
one
Ā NS)
2nd
Ā D)
4
Ā TO)
5
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