This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC ... (Read 54 times)

byomi

  • Full Member
  • ***
  • Posts: 130
on: Oct 12, 2022

The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC curves refer to different plant sizes.



FIGURE 8-2

Refer to Figure 8-2. Suppose this firm is producing at point B. Why might this firm continue to produce at point B, rather than immediately move to point C and produce the same level of output (Q2), at a lower cost?


◦ The firm may choose to remain at point B until the price of its output increases enough to justify building a new plant.
◦ The firm cannot produce at point C because there is no SRATC curve through this point.
◦ If this firm continues to produce at point B for any period of time, it must be because it is not profit-maximizing.
◦ There can be a significant time delay while the firm readjusts its plant size, during which time it remains at point B.
◦ If this firm continues to produce at point B for any period of time, it must be because it is not cost-minimizing.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by byomi on Oct 12, 2022

aublw

  • Full Member
  • ***
  • Posts: 168
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


byomi

  • Member
  • Posts: 130
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Tiger, the largest and heaviest living species of the cat family Tiger, the largest and heaviest living species of the cat family
The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g
Attributed to the Manner of Peleus Painter, Red-figure calyx-krater. Attributed to the Manner of Peleus Painter, Red-figure calyx-krater.
Changes in Time Spent with Family Members Changes in Time Spent with Family Members
Cost Accounting 14 Cost Accounting 14
Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and
Video: Pressure Flow Model Animation

For a complete list of videos, visit our video library