In the short run: options: 1) all inputs are fixed. 2) all inputs are variable. 3)...
In the short run: options: 1) all inputs are fixed. 2) all inputs are variable. 3) some inputs are fixed and some inputs are variable. 4) the quantity of output is fixed.
Homework Answers
Correct answer : option 3 ) : Some inputs are fixed and some are variable
Reason :
By definition short run is the time period in which at least one input is fixed while other inputs may be variable, hence in short run some inpu6are fixed and some are variable.
Add Answer to:
In the short run: options: 1) all inputs are fixed. 2) all
inputs are variable. 3)...
In the long run, A. inputs that were variable in the short run become fixed. B...
In the long run, A. inputs that were variable in the short run become fixed. B inputs that were fixed in the short run remain fixed. C variable inputs are rarely used. D inputs that were fixed in the short run become variable.
1. In the case of a short-run production function: all of the inputs are variable. at...
1. In the case of a short-run production function: all of the inputs are variable. at least one of the inputs is fixed. the amount of labor employed is held constant. all of the inputs are fixed. 2. In the long-run production function, all of the inputs to the production process are allowed to vary. True False 3. In which of the following situations would a firm be more likely to rely on a capital-intensive method of production? When labor...
The two options (variable/fixed) are both of the options for both of the blanks. 2. Inputs...
The two options (variable/fixed) are both of the options for
both of the blanks.
2. Inputs and outputs Yakov's Performance Pizza is a small restaurant in San Diego that sells gluten free pizzas. Yakov's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Yakov signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Yakov's kitchen cannot fit more...
Which of the following statements is true? a. In the short run all inputs are fixed....
Which of the following statements is true? a. In the short run all inputs are fixed. b. In the long run a firm is making the optimal input choice when the marginal products per dollar are equal among all inputs. C. Diminishing returns to labor means that adding one more worker will decrease output. d. All the above
Fixed costs exist only in the: Multiple Choice A. long run when some inputs are fixed....
Fixed costs exist only in the: Multiple Choice A. long run when some inputs are fixed. B. long run when all inputs are fixed. C. short run when some inputs are fixed. D. short run when all inputs are fixed.
Question 1 (1 point) 1. The short run is a period of time in which the...
Question 1 (1 point) 1. The short run is a period of time in which the amount of output is fixed. nothing the firm does can be altered. the quantity of at least one factor of production is fixed. prices and wages are fixed. Question 2 (1 point) 2. When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of...
What is the distinction between the economic short run and the economic long run? A. In...
What is the distinction between the economic short run and the economic long run? A. In the short run, the firm incurs only explicit costs, but in the long run, the firm incurs explicit and implicit costs. OB. In the short run, the firm can vary all inputs, but in the long run, at least one input is fixed. O c. In the short run, the firm incurs only variable costs, but in the long run, the firm incurs fixed...
SHOW ALL WORK A profit-maximizing firm in the short run has total fixed costs of $200....
SHOW ALL WORK A profit-maximizing firm in the short run has total fixed costs of $200. Its variable costs are as below. Output Total Variable Cost 0 $0 1 $190 2 $360 3 $510 4 $650 5 $800 6 $990 7 $1,190 8 $1,420 9 $1,770 10 $2,170 (A) (3 pts.) Calculate average total cost when output is 5 units....
8. The following figure shows that the short-run marginal cost curve may lie above the long-run marginal cost curve. SA...
8. The following figure shows that the short-run marginal cost curve may lie above the long-run marginal cost curve. SAC MC , SAG SMGU, SMGIMCI SACI SMC 3 Yet, in the long run, the quantities of all inputs are variable, whereas in the short run, the quantities of just some of the inputs are variable. Given that, why isn't short-run marginal cost less than long-run marginal cost for all output levels?
2 3 and 4 b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production f...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
The two options (variable/fixed) are both of the options for
both of the blanks.
2. Inputs and outputs Yakov's Performance Pizza is a small restaurant in San Diego that sells gluten free pizzas. Yakov's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Yakov signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Yakov's kitchen cannot fit more...
Which of the following statements is true? a. In the short run all inputs are fixed. b. In the long run a firm is making the optimal input choice when the marginal products per dollar are equal among all inputs. C. Diminishing returns to labor means that adding one more worker will decrease output. d. All the above
Question 1 (1 point) 1. The short run is a period of time in which the amount of output is fixed. nothing the firm does can be altered. the quantity of at least one factor of production is fixed. prices and wages are fixed. Question 2 (1 point) 2. When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of...
What is the distinction between the economic short run and the economic long run? A. In the short run, the firm incurs only explicit costs, but in the long run, the firm incurs explicit and implicit costs. OB. In the short run, the firm can vary all inputs, but in the long run, at least one input is fixed. O c. In the short run, the firm incurs only variable costs, but in the long run, the firm incurs fixed...
8. The following figure shows that the short-run marginal cost curve may lie above the long-run marginal cost curve. SAC MC , SAG SMGU, SMGIMCI SACI SMC 3 Yet, in the long run, the quantities of all inputs are variable, whereas in the short run, the quantities of just some of the inputs are variable. Given that, why isn't short-run marginal cost less than long-run marginal cost for all output levels?
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
Most questions answered within 3 hours.
-
Quick question, I want to know how to convert decimal numbers to
binary number, when i...
asked 15 minutes ago -
You found out that now you are going to receive payments of
$8,500 for the next...
asked 19 minutes ago -
17.
Technician A says that leaking components are usually repaired
rather than replaced. Technician B says...
asked 20 minutes ago -
A) An Operon is:?
1- A gene that affect another gene
transcription.
2. A gene coding...
asked 26 minutes ago -
When opening a file, use this method to determine whether a file
exists before you attempt...
asked 31 minutes ago -
Sales total $300,000 when variable costs total $180,000 and
fixed costs are $60,000. Breakeven sales total:...
asked 38 minutes ago -
1)
To calculate the depth of a water well, an explorer drops a stone and with...
asked 35 minutes ago -
0.429-g sample of gas occupies 125 mL at 60. cm of Hg and 25°C.
The molar...
asked 37 minutes ago -
The
pH of a 0.90M solution of boric acid (H3BO3) is measured to be
4.64.
Calculate...
asked 56 minutes ago -
on april 10, a company acquired land valued at $58,000 in
exchange for 1,000 shares of...
asked 1 hour ago -
Is
ampicillin or solvents (such as acetone) more effective at killing
off bacteria, in general? Explain...
asked 1 hour ago -
The current risk-free rate is 4.0% and the market risk premium
is 5.0%. If Ford Motor...
asked 1 hour ago