Homework Answers
Question 11: The two most important factors that they take into account are:
1.) Prices of the goods that they consume
2.) Money income that they earn
Question 12: Answer is option 2. In the long run, all the inputs are variable.
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D Question 11 3 pts According to the theory of consumer choice we...
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm....
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm. opportunity costs. both sunk and future costs. long run costs only. Question 8 2 pts Explicit costs are the opportunity costs of all resources used by the firm. the costs associated with the resources that the firm owns. O actual expenditures that a firm must make. all costs associated with the short run. 9:10 + As a firm's production increases in the short run,...
Please help with these questions Question 21 0.4 pts The market for candles is perfectly competitive...
Please help with these questions
Question 21 0.4 pts The market for candles is perfectly competitive and is currently in equilibrium. What will happen if candles are later linked to more houses catching on fire? In the short run, firms will incur economic losses, but in the long run, firms will enter the market, bringing economic profits back up to zero In the short run, firms will experience economic profits, but in the long run, firms will enter the market,...
Please Help Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic...
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Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic competitor reveals that, at optimal output, the demand curve lies above the average total cost curve. Which of the following is true? O There is economic profit in the long run. Firms will enter the industry in the long run. O There is not enough information because demand is an imperfect benchmark for measuring profitability O There is an economic loss in the long...
Please help with these questions, Question 11 0.16 pts If Firm A is making zero economic...
Please help with these questions,
Question 11 0.16 pts If Firm A is making zero economic profits, Firm A is breaking even when opportunity cost is taken into consideration. O Firm A is also making negative accounting profits. other firms want to enter the market. Firm A wants to shut down in the short run. O Firm A wants to leave the market. Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run...
This Question: 18 pts 9 of 28 (28 complete) in the short-run, there are 3 stages...
This Question: 18 pts 9 of 28 (28 complete) in the short-run, there are 3 stages of production. Which of the following is true about stage 3 APL reaches its maximum at the end of this stage O A True B. False MPL < O which indicates that total output is decreasing as the firm hires more workers .A True OB. False The firm can increase output and increase profit by hiring more workers O A True False The firm...
D Question 9 1 pts The price of your output rises, so you hire more labor, but are unable to increase your plant si...
D Question 9 1 pts The price of your output rises, so you hire more labor, but are unable to increase your plant size anytime soon. You are in which time period of production? The long run. The period of perfectly elastic supply, The short run. The market period.
Whats Apping 11) Tale wat we Dis w aivelemes 2) Which we stalways in Aless nests...
Whats Apping 11) Tale wat we Dis w aivelemes 2) Which we stalways in Aless nests when vethet tal variables 43) Afirm's shorter totalco (TO) is equal to A) varicost a le o total cost divided by variables ) D) e cost w as variable cost elost phas variable cost 4) The law of diminishing returns applies in A) the long run only the short run only 1) the short run and the long run. D) neither the short run...
Please help with these questions Question 37 0.4 pts Use the following scenario to answer the...
Please help with these questions
Question 37 0.4 pts Use the following scenario to answer the following questions: Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas. Carmela's Churros currently is taking in $40,000 in revenues, and has $15,000 in explicit costs and $25,000 in implicit costs. Holding all else constant, the price of churros in this market will stay where it is. increase in the short run decrease in the long run. decrease in the...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
Please help with these questions Question 10 0.4 pts According to adaptive expectations theory, when inflation...
Please help with these questions
Question 10 0.4 pts According to adaptive expectations theory, when inflation accelerates O people change to rational expectations. O people underestimate inflation. O people correctly estimate inflation. unemployment must increase. people overestimate inflation. Question 11 0.4 pts An increase in long-run aggregate supply can be expected to_the price evel and the natural rate of unemployment. Ohave no effect on; increase O decrease; have no effect on decrease: decrease Ohave no effect on; have no effect...
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm. opportunity costs. both sunk and future costs. long run costs only. Question 8 2 pts Explicit costs are the opportunity costs of all resources used by the firm. the costs associated with the resources that the firm owns. O actual expenditures that a firm must make. all costs associated with the short run. 9:10 + As a firm's production increases in the short run,...
Please help with these questions
Question 21 0.4 pts The market for candles is perfectly competitive and is currently in equilibrium. What will happen if candles are later linked to more houses catching on fire? In the short run, firms will incur economic losses, but in the long run, firms will enter the market, bringing economic profits back up to zero In the short run, firms will experience economic profits, but in the long run, firms will enter the market,...
Please Help
Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic competitor reveals that, at optimal output, the demand curve lies above the average total cost curve. Which of the following is true? O There is economic profit in the long run. Firms will enter the industry in the long run. O There is not enough information because demand is an imperfect benchmark for measuring profitability O There is an economic loss in the long...
Please help with these questions,
Question 11 0.16 pts If Firm A is making zero economic profits, Firm A is breaking even when opportunity cost is taken into consideration. O Firm A is also making negative accounting profits. other firms want to enter the market. Firm A wants to shut down in the short run. O Firm A wants to leave the market. Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run...
This Question: 18 pts 9 of 28 (28 complete) in the short-run, there are 3 stages of production. Which of the following is true about stage 3 APL reaches its maximum at the end of this stage O A True B. False MPL < O which indicates that total output is decreasing as the firm hires more workers .A True OB. False The firm can increase output and increase profit by hiring more workers O A True False The firm...
D Question 9 1 pts The price of your output rises, so you hire more labor, but are unable to increase your plant size anytime soon. You are in which time period of production? The long run. The period of perfectly elastic supply, The short run. The market period.
Whats Apping 11) Tale wat we Dis w aivelemes 2) Which we stalways in Aless nests when vethet tal variables 43) Afirm's shorter totalco (TO) is equal to A) varicost a le o total cost divided by variables ) D) e cost w as variable cost elost phas variable cost 4) The law of diminishing returns applies in A) the long run only the short run only 1) the short run and the long run. D) neither the short run...
Please help with these questions
Question 37 0.4 pts Use the following scenario to answer the following questions: Carmela's Churros is a perfectly competitive firm that sells desserts in Houston, Texas. Carmela's Churros currently is taking in $40,000 in revenues, and has $15,000 in explicit costs and $25,000 in implicit costs. Holding all else constant, the price of churros in this market will stay where it is. increase in the short run decrease in the long run. decrease in the...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
Please help with these questions
Question 10 0.4 pts According to adaptive expectations theory, when inflation accelerates O people change to rational expectations. O people underestimate inflation. O people correctly estimate inflation. unemployment must increase. people overestimate inflation. Question 11 0.4 pts An increase in long-run aggregate supply can be expected to_the price evel and the natural rate of unemployment. Ohave no effect on; increase O decrease; have no effect on decrease: decrease Ohave no effect on; have no effect...
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