In deriving the short-run industry supply curve (the sum of firms' marginal cost curves), we assumed that input prices are constant because competitive firms are price-takers. This same assumption holds in the derivation of the long-run industry supply curve. Do you agree or disagree? Explain.
Answers: 2
Business, 23.06.2019 03:20, willia343
You would like to compare your firm's cost structure to that of your competitors. however, your competitors are much larger in size than your firm. which one of these would best enable you to compare costs across your industry? common-size income statement. pro forma balance sheet. statement of cash flows. common-size balance sheet
Answers: 3
Business, 23.06.2019 08:40, carog24
Suppose a movie theater determines it can charge different prices to patrons who go to weekday matinees and people who attend evening and weekend shows . the movie theater's goal is to increase total revenue. the price elasticity of demand for weekend and evening patrons is -0.40, and the price elasticity of demand for matinee moviegoers is -1.90. based on the price elasticity of demand for each group of people, how should the movie theater adjust its prices?
Answers: 3
In deriving the short-run industry supply curve (the sum of firms' marginal cost curves), we assumed...
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