Which of the following statements is NOT correct? The long-run total cost curve is the lower envelope of all the short-run total ost curves. O The marginal cost curve intersects average variable cost (AVC) and average total cost (ATC) at the minimum of ATC and AVC. The long-run average total cost curve must be the lower envelope of all of the firm's short-run average total cost curves. O In the short run where capital is fixed, to minimize the cost, the necessary condition is the technical rate of substitution equals to input price ratio.

Which of the following statements is NOT correct? The long-run total cost curve is the lower envelope of all the short-run total ost curves. O The marginal cost curve intersects average variable cost (AVC) and average total cost (ATC) at the minimum of ATC and AVC. The long-run average total cost curve must be the lower envelope of all of the firm's short-run average total cost curves. O In the short run where capital is fixed, to minimize the cost, the necessary condition is the technical rate of substitution equals to input price ratio.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

21
How would present a loss and or an expense or damage claim?
At a price of $14, country 1 will (a) offer for export 9 units of this product. (b) seek to import 9 units of this product. (c) choose not to trade. (d) increase supply. (e) offer for export 18 units of this product
breakeven point explained
Maria takes out a 30-year mortgage at 5.5% to buy a house that costs $280,000. She must have a down payment of 3% of the purchase price.
Ans for part D
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs
A consumer who starts at point B will want to borrow, but as little as possible in order to minimise the cost of interest. is it true or false
You expect to receive bonus of $10000 after 1 years of job. Calculate the present value if the discount rate is 2%.