Which of the following are short-run and which are longrun adjustments? IBM hires 200 more software engineers.

Q: One isocost line can intercept an isoquant. Select one: O True O False

A: An isoquant refers to the locus of points showing all the technically efficient ways of combining…

Q: An investor wants a real rate of return of 8% per year. If the expected annual inflation rate for…

A: The real rate of return is 8% per year. This means the real interest rate that an investor wants is…

Q: charlie is running a coffe shop and are currently selling 200 coffees. it cost them 2,0000 to hire a…

A: Fixed cost is the part of total cost that does not depend on output produced. It remains fixed even…

Q: What is optimization? How does it blow up the myth about profit being a result of a mere…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: What is a production function? Response option group It is the production technology It is the…

A: A production function highlights the relationship between quantities of physical inputs and…

Q: Why the ATC under the MC curve?

A: There does need correction in the diagram

Q: Why does the average fixed cost falls with the increase in output?

A: Fixed cost is that cost which doesn't Change in the short run as the production proceeds.  Average…

Q: Price of Gasoline 20 Price Celling Quantity of Gasoline Refer to Figure 6-4. With a price ceiling…

A: A price ceiling is the price set by the government which is the maximum that should be charged to…

Q: Jake is a corn farmer in Nebraska. He rents his land on a long-term lease for $250,000 a year. He…

A: Total cost =total variable cost + total fixed cost

Q: Which of the following is an example of a long run adjustment? Your university offers Saturday…

A: Long run Adjustment: The since quite a while ago, run is a timeframe in which all creation and…

Q: Consider a small photography studio with 6 workers and 3 The total cost of labor and capital is…

A: In economics, the cost of production is defined as the expenditures incurred to obtain the factors…

Q: What are two examples of variable costs?

A: Variable costs depends on the level of output being produced by the firm.

Q: Create a table describing input combinations of labor and wheat flour in producing a certain cake.…

A:

Q: a small photography studio with 7 workers and 4 The total cost of labor and capital is $3,400. In…

A:

Q: fall in the long-run cost curve

A: A cost curve which represents the minimum cost at which output can be produced in the long run is…

Q: Noel's sandwich shop incurs these costs while in business: $6,000 in wages, $2000 on leasing…

A: Sunk cost is the cost which is already incurred and cannot be recovered so using sunk cost in…

Q: Consider a small photography studio with 8 workers and 5 The total cost of labor and capital is…

A:

Q: Explain Isocost line?

A: The cost implies the incurred cost on producing of an output. The costs are of two types: Explicit…

Q: What is the economies of scale of General Motors?

A: The advantages of cost which is being obtained by the enterprises being solely due to their scale of…

Q: What is the difference between the short run and long run for a firm? How does this relate to fixed…

A: Short run and long in economics is related to production of firms in which various fixed and various…

Q: The feature that distinguishes short-run from the long-run is the*

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Q: As the number of workers decreases, the marginal product of a GM worker and the average product of a…

A: As General Motors (GM) cuts 500 jobs at its Australian manufacturing unit due to a sharp fall in…

Q: a software production firm, average product has started falling and total output indicated…

A: A mathematical association between marginal product(MP) and average product(AP) expressing that the…

Q: What should the value of "a" be if in the mixed strategy equilibrium we found out player 2 assign…

A: In a mixed strategy equilibrium, the chance assigned to each method with the aid of the participant…