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Author Question: It is virtually impossible to identify a long-run profit-maximising price and output. Which of the ... (Read 35 times)

washai

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on: May 25, 2020

Question 1

What variables are likely to influence managerial utility?

Question 2

It is virtually impossible to identify a long-run profit-maximising price and output. Which of the following are reasons for this? (Yes/No)

a) Cost and revenue curves are likely to shift unpredictably as a result of the policy pursued. (Yes/No)
b) Cost and revenue curves are likely to shift as a result of unpredictable external factors. (Yes/No)
c) The firm is likely to experience economies of scale. (Yes/No)
d) Some policies may affect both demand and costs. (Yes/No)
e) Different managers are likely to make different judgments about the best way of achieving long-run maximum profits. (Yes/No)
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by washai on May 25, 2020

1_Step_At_ATime

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Reply #1 on: May 25, 2020
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washai

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Reply 2 on: May 25, 2020
Wow, this really help

Mochi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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