Answer both parts: A. What factors shift the short-run average variable and total cost curves? Explain...
Answer both parts:
A. What factors shift the short-run average variable and total cost curves? Explain why these curves would shift up or down in response to changes in these factors?
B. The demand and supply functions in the thermometer market are as follows: Supply: Qs = 32 + 0.04P Demand: Qd = 35.5 – 0.03P. Calculate the equilibrium price and quantity in the thermometer market.
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Answer both parts:
A. What factors shift the short-run average variable and total
cost curves? Explain...
For a constant cost industry in which all firms the same cost functions, their long-run average...
For a constant cost industry in which all firms the same cost functions, their long-run average cost is minimized at $10 per unit output and 20 units (i.e. q = 20). Market demand is given by QD=DP=1,500-50P. Find the long-run market supply function Find the long-run equilibrium price (P*), market quantity (Q*), firm output (q*), number of firms (n), and each firm’s profit. The short-run total cost function associated with each firm’s long-run costs is SCq=0.5q2-10q+200. Calculate the short-run average...
The graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for a firm in a competitive market. These curves imply a short-run supply curve that has two distinct parts. One part, not shown, lies along the
The graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for a firm in a competitive market. These curves imply a short-run supply curve that has two distinct parts. One part, not shown, lies along the vertical axis (quantity = 0); this represents a condition of production shutdown. Where is the other part? Use the straight-line tool to draw it.
8. Short-run and long-run effects of a shift in demand Aa Aa Suppose that the chicken...
8. Short-run and long-run effects of a shift in demand Aa Aa Suppose that the chicken industry is in long-run equilibrium at a price of $3 per pound of chicken and a quantity of 600 million pounds per year. Suppose the Surgeon General issues a report saying that eating chicken is good for your health. The Surgeon General's report will cause consumers to demand chicken at every price. In the short run, firms will respond by Shift the supply curve,...
The following graph shows the short run total cost curves and the long tun total cost...
The
following graph shows the short run total cost curves and the long
tun total cost curves for a publishing firm. the five marked
quantities indicate points of tangency between each short run
average total cost curve and the long run average cost curve.
could someone please help me to answer this and give a little
explenation for my similar problems?
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost...
8. Short-run and long run effects of a shift in demand Suppose that the perfectly competitive...
8. Short-run and long run effects of a shift in demand Suppose that the perfectly competitive tuna industry is in long-run equilibrium at a price of $3 per can of tuna and a quantity of 600 million cans per year. Suppose Health Canada issues a report saying that eating tuna is bad for your health Health Canada's report will cause consumers to demand tuna at every price. In the short run, firms will respond by Shift the supply curve, the...
8. Short-run and long-run effects of a shift in demand
Plese help ASAP Thank you in Advance!8. Short-run and long-run effects of a shift in demandSuppose that the turkey industry is in long-run equilibrium at a price of $5 per pound of turkey and a quantity of 250 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is good for your health.The Surgeon General’s report will cause consumers to demand turkey at every price. In the short run, firms will respond by .Shift the demand...
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the...
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average cost curve (LRAC); for example, Q1 marks the point of tangency between ATC, and LRAC. The orange point on ATC indicates the firm's current output level in the short run (Qs). ATC LRAC ATC ATC, COST...
6. Short-run and long-run effects of a shift in demand Suppose that the perfectly competitive turkey...
6. Short-run and long-run effects of a shift in demand Suppose that the perfectly competitive turkey industry is in long-run equilibrium at a price of $3 per pound of turkey and a quantity of 600 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report will cause consumers to demand_ turkey at every price. In the short run, firms will respond by of the Surgeon General's...
6. Short-run and long-run effects of a shift in demand Suppose that the tuna industry is...
6. Short-run and long-run effects of a shift in demandSuppose that the tuna industry is in long-run equilibrium at a price of $ 5 per can of tuna and a quantity of 500 million cans per year. Suppose that WebMD claims that the bacteria found in tuna will decrease your expected lifespan by 2 years.WebMD's claim will cause consumers to demand _______ tuna at every price. In the short run, firms will respond by _______ Shift the demand curve, the supply...
7. Short-run and long-run effects of a shift in demand Suppose that the shrimp industry is...
7. Short-run and long-run effects of a shift in demand Suppose that the shrimp industry is in long-run equilibrium at a price of $5 per pound of shrimp and a quantity of 400 million pounds per year. Suppose that WebMD claims that a protein found in shrimp will increase your expected lifespan by 2 years. WebMD's claim will cause consumers to demand _______ shrimp at every price. In the short run, firms will respond by _______ .Shift the demand curve, the supply...
8. Short-run and long-run effects of a shift in demand Aa Aa Suppose that the chicken industry is in long-run equilibrium at a price of $3 per pound of chicken and a quantity of 600 million pounds per year. Suppose the Surgeon General issues a report saying that eating chicken is good for your health. The Surgeon General's report will cause consumers to demand chicken at every price. In the short run, firms will respond by Shift the supply curve,...
The
following graph shows the short run total cost curves and the long
tun total cost curves for a publishing firm. the five marked
quantities indicate points of tangency between each short run
average total cost curve and the long run average cost curve.
could someone please help me to answer this and give a little
explenation for my similar problems?
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost...
8. Short-run and long run effects of a shift in demand Suppose that the perfectly competitive tuna industry is in long-run equilibrium at a price of $3 per can of tuna and a quantity of 600 million cans per year. Suppose Health Canada issues a report saying that eating tuna is bad for your health Health Canada's report will cause consumers to demand tuna at every price. In the short run, firms will respond by Shift the supply curve, the...
6. Long-run cost relationships The following graph shows the short-run average total cost curves and the long-run average cost curve for a publishing firm. The five marked quantities indicate points of tangency between each short-run average total cost curve (ATC) and the long-run average cost curve (LRAC); for example, Q1 marks the point of tangency between ATC, and LRAC. The orange point on ATC indicates the firm's current output level in the short run (Qs). ATC LRAC ATC ATC, COST...
6. Short-run and long-run effects of a shift in demand Suppose that the perfectly competitive turkey industry is in long-run equilibrium at a price of $3 per pound of turkey and a quantity of 600 million pounds per year. Suppose the Surgeon General issues a report saying that eating turkey is bad for your health. The Surgeon General's report will cause consumers to demand_ turkey at every price. In the short run, firms will respond by of the Surgeon General's...
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