Theory of production and cost in long run

In the theory of cost and production, the long run is the period: (i) Of 1-year or longer. (ii) Of 5-years or longer. (iii) In which we all are dead. (iv) Permitting the capacity to wholly adjust.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Price elasticity of demand and

When the price elasticity of demand for Japanese cars is higher within Europe than into the U.S. and transportation costs are very similar, relative to the price charged in Europe, there the price a discriminating Japanese carmaker wo

Q : Problem on market supply of labor Can

Can someone please help me in finding out the accurate answer from the following question. The marginal resource cost for monopsonist in the labor market which can’t wage discriminate: (1) Is perfectly elastic. (2) Is perfectly inelastic. (3) Lies above the mark

Q : Central bank executes clearing house

Central bank executes the function of a clearing house. Explain how? Answer: Each and every bank keeps cash reserves with central bank. The claims of banks against

Q : Monopsonist-Wage discriminate Compared

Compared with the price taker in labor market, the monopsonist which can’t wage discriminate will: (i) Hire more labor at any specified wage. (ii) Hire less labor at any wage. (iii) Pay a higher wage for any specified quantity of labor. (iv) Hire more prolific l

Q : Experience decreasing costs industry If

If one industry’s development stimulates development in support and complementary industries, it permits firms within the industry to: (i) move up their rising long run average costs curves. (ii) sell their products for higher prices. (iii) focus old technologie

Q : Charging price of profit-maximizing

Hybrid Roses is the merely florist in 60 miles of Presidio, Texas. When total fixed costs (for example, rent and utilities) are $9 per hour, that profit-maximizing monopolist will charge a price of: (1) $10 per dozen roses. (2) $12 pe

Q : Break even and zero economic profit

After Babble-On’s patents lapsed and entry and exit turned into possible in this illustrated figure of market, in the long run Babble-On would be expected to: (i) continue to reap economic profits. (ii) break even and experience zero economic pr

Q : What is involuntary unemployment What

What is involuntary unemployment: The people who are willing to work at given wage rate do not obtain work.

Q : Problem on Labor Unions and Wages The

The Industrial unions try to accomplish wage rates above the competitive level through: (i) Limiting the supply of labor to the industry. (ii) Raising the supply of labor. (iii) Raising the productivity of the labor in an industry. (iv) Member’s agreeing to work

Q : Define regressive in taxes as

Line T2 depicts as in below graph a tax system which is: (i) progressive. (ii) recessive. (iii) proportional. (iv) biased. (v) regressive.

Discover Q & A

Leading Solution Library

Avail More Than 1433418 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1939602
Asked

3,689

Active Tutors

1433418

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment