Log in
Economics
1
answer
0
watching
172
views

In the short run, a firm that produces and sells cell phones can adjust:

a. how many workers to hire

b. the size of its factories

c. where to produce along its long run average total cost curve

d. All of the above

Watch
1
answer
0
watching
172
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

34. All firms in an industry have the same costs. Assume that all other firms in the industry are in short-run equilibrium. However, at the current level of output of one particular firm, AC-MC>P-MR>AVC. If nothing changes, this firm should: (A) decrease its output. (B) increase its output. (C) keep output constant. (D) shut down in the short run. ((E) decrease output in the short run and shut down in the long run. (F) increase output in the short run and shut down in the long run. (G) adjust output until Total Revenue = Total Cost. (H) produce where the marginal cost curve just cuts the demand curve in the short and long run. (1) none of the above.

Which of the following statements is correct?

a. The positively sloped portion of a price-taking firm's short-run marginal cost curve, above its point of minimum short-run average variable cost, is this firm's short-run supply curve.

b. In the short-run, for prices below SAVC, the price-taking firm will choose to produce no output.

c. In the short-run, a price-taking firm will produce a level of output for which SMC = p, where p is the market price at which it sells its output.

d. All of the above

A5. If factor prices decrease, (A) (B) both the long-run and short-run average cost curves will shift downward. here will be a downward shift in the long-run average cost curve but not in the short-run average cost curve. a firm will move down along its long-run average cost curve only. a firm will move down along both its long-run and short-run average cost curves. there will be no change in the cost curves in the long run. (D) (E)

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in