Business, 02.12.2019 22:31 hannahbanana2000
Assume that the following conditions exist for a perfectly competitive firm: price = $10, current output = 100 units/hour, atc at current output = $9.00, avc at current output = $8.00 and mc at current output = $8.00.
a. is the firm earning any economic profit currently? how much is its profit or loss?
b. is the firm maximizing its economic profit? how do you know? what should the firm do to maximize profit? should it increase or decrease output?
c. given your answers in part b, how will the market adjust to reach long-run equilibrium? what will happen to the economic profit in the long-run? include appropriate graphs for the market and the typical firm in your explanation.
Answers: 3
Other questions on the subject: Business
Business, 21.06.2019 21:40, tonya3498
The board of directors is the highest ranking body in a corporation, and the chairman of the board is the highest ranking individual. the ceo generally works under the board and its chairman, and the board generally has the authority to remove the ceo under certain conditions. the ceo, however, cannot remove the board, but he or she can endeavor to have the board voted out and a new board voted in should a conflict arise. it is possible for a person to simultaneously serve as ceo and chairman of the board, though many corporate control experts believe it is bad to vest both offices in the same person. true false
Answers: 3
Business, 22.06.2019 11:00, montgomerykarloxc24x
You decide to invest in a portfolio consisting of 25 percent stock a, 25 percent stock b, and the remainder in stock c. based on the following information, what is the expected return of your portfolio? state of economy probability of state return if state occurs of economy stock a stock b stock c recession .16 - 16.4 % - 2.7 % - 21.6 % normal .55 12.6 % 7.3 % 15.9 % boom .29 26.2 % 14.6 % 30.5 %
Answers: 1
You know the right answer?
Assume that the following conditions exist for a perfectly competitive firm: price = $10, current o...
Questions in other subjects:
Social Studies, 12.07.2019 15:00
Social Studies, 12.07.2019 15:00
History, 12.07.2019 15:00
