Explain why it is not sensible to close a business firm, Science

+44 141 628 6080
[email protected]

Explain why it is not sensible to close a business firm

Problem

1. Explain why P = MC in the short-run equilibrium of the perfectly competitive firm, whereas in long-run equilibrium P = MC = AC.

2. Explain why it is not sensible to close a business firm if it earns zero economic profits.

3. If the firm's lowest average cost is $52 and the corresponding average variable cost is $26, what does it pay a perfectly competitive firm to do if

a. The market price is $51?

b. The price is $36?

c. The price is $12?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Science: Explain why it is not sensible to close a business firm

Reference No:- TGS02118900

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Science

Q : Minimizing the variable cost of payments

Explain why this problem of maximizing net profit is equivalent to minimizing the variable cost of payments to its security guards.

Q : What would you change if your budget were cut by ten percent

If you were president of your college, what would you change if your budget were cut by 10 percent? By 25 percent? By 50 percent?

Q : Which is primarily responsible for the fact

Which is primarily responsible for the fact that the demand curve of a perfectly competitive firm is horizontal?

Q : Explain why a perfectly competitive firm does not expand

Explain why a perfectly competitive firm does not expand its sale without limit if its horizontal demand curve indicates that it can sell as much as it desires.

Q : Explain why it is not sensible to close a business firm

Explain why it is not sensible to close a business firm if it earns zero economic profits.

Q : Objectives of maximizing total net profit

Write a mathematical expression for the objective of maximizing total net profit.

Q : Why stock prices rose and fell sharply

Critics claim that this practice is a major reason why stock prices rose and fell sharply in the 1980s. Is this idea plausible? Why or why not?

Q : Estimate the cost of customer waiting time

The owner of the Golden Muffler Shop estimates that the cost of customer waiting time, in terms of customer dissatisfaction.

Q : Why do you think courts are right to reject coercive offers

Do you think the courts are right to reject coercive offers and prevent management from blocking noncoercive offers? Why?

1948378

Questions
Asked

3,689

Active Tutors

1448924

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss patient with athsma about use of bronchodilators

You're instructing a patient with athsma about the use of bronchodilators. You should teach the patient which one?

Discuss new forms of advertising changing opdps work

How have social media and other new forms of advertising changing OPDP's work?

Observing and reporting a correctional clients behavior

Observing and reporting a correctional client's behavior is extremely important, to ensure they receive the right mental health care.

Discussion about improve patient satisfaction scores

You are trying to improve patient satisfaction scores in your hospital's emergency department. You decide to poll 40 patients a day for three weeks.

Problem concerning about the risk for stroke

Sam is concerned about his risk for his stroke since his dad died of stroke at age 57 based on the following information why would you recommend

Patient presented with acute-onset abdominal pain

You are on your 5th straight duty in the Urgent Care and you are seeing a 18 yo may who presented with acute-onset abdominal pain for 2 days.

Discuss - male with a history of moderate persistent asthma

A nurse is caring for an 8-year-old male with a history of moderate persistent asthma. He is accompanied by his mom and dad who reported