Differentiates between short run and long run costs
Differentiates between short run and long run costs?
Expert
Short run cost is those costs that may change with output whereas fixed factors stay constant. Output may change by changing the variable factors simply. But conversely long run is a period that is adequate to adjust all input factors. Therefore, long run costs are those costs that vary with output while all input factors (variable and fixed) are variable.
What are the Environmental or external issues of managerial economics?
An individual’s labor supply curve is negatively sloped that is backward-bending into a range of wages while the: (i) demand for goods exceeds the demand for leisure. (ii) worker offers more hours of labor while the wage rate in
The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t
Where managerial economics treat as a tool? Answer: Managerial economics is like a tool for decision making and forward planning.
Explain the target pricing briefly.
Illustrates the types of revenue?
Illustrates the responsibilities of managerial economists?
Describe the Long term Demand Forecasting.
A competitive demand of employer for labor is: (1) derived from the demand that exists for the firm’s output. (2) inverted compared to regular demands. (3) shifted rightward by hikes in real wage rates. (4) positively sloped. (4) determined thro
Within a graph along with output on the horizontal axis and whole revenue on the vertical axis, determine the shape of the total revenue curve for a perfectly competitive seller: w) U-shaped. x) inverted U-shaped. y) a horizontal line
18,76,764
1936338 Asked
3,689
Active Tutors
1457043
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!