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

Author Question: Define what is meant by the period known as the short run. What will be an ideal ... (Read 200 times)

cabate

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
Define what is meant by the period known as the short run.
 
  What will be an ideal response?

Question 2

What three things must a firm know in order to calculate costs?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cat123

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 29, 2018
Answer to Question 1

The short run is the period during which firms face limits imposed by some fixed factor of production and firms cannot enter or exit an industry.

Answer to Question 2

(1.) The techniques of production available.
(2.) The prices of inputs.
(3.) Output.


cabate

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
Excellent

mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Shelled invertebrate fossils of the Ordovician period Shelled invertebrate fossils of the Ordovician period
Megazostrodon, the first known mammal of the Triassic period. Megazostrodon, the first known mammal of the Triassic period.
Most lifts are equipped with short pad extensions that are often necessary to use to allow the pad ... Most lifts are equipped with short pad extensions that are often necessary to use to allow the pad ...
Embryonic Period Embryonic Period
Embryonic Period Embryonic Period
Embryonic Period - 12th week Embryonic Period - 12th week
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library