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In economics, short-run cost means that some factors are variable while others are fixed restricting entry or exit from the industry. The usage of long-run and short-run in macroeconomics differs from the macroeconomic usage.
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Which concepts are easiest to apply in the short run?
which marketing concepts are easier to apply in are the shortrun
What has the author Jitendar S Mann written?
Jitendar S. Mann has written: 'The distribution of shortrun commodity price movements' -- subject(s): Commodity exchanges, Gaussian processes, Random walks (Mathematics)
Using the aid of a diagram how can a perfectly competitive firm make supernormal profit in a shortrun?
It makes "supernormal profit" (aka. economic profit), by having the price exceed Average Cost. Remember that PRICE is also Average revenue AND demand. So that being said, P=AR=D. Because, if they are receiving more money than it cost them to make the product, it is profitable. It is also important to keep in mind that it is impossible for a perfectly competitive firm to make "supernormal profits" in the long run. It can only be done in the short run. That is a very basic explanation of it, as I did not even mention accounting profit. However, that should be enough info. Here's the diagram you'll want to follow: http://wpcontent.answers.com/wikipedia/en/thumb/9/90/Perfect_competition_in_the_short_run.PNG/300px-Perfect_competition_in_the_short_run.PNG
How is nitrogen proessed to pure form?
#$Cost of nCost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?Cost of nitrogen?
Is total cost different from overhead cost?
Overhead cost is part of total cost and not different from total cost as formula is as follows: Total cost = material cost + labor cost + overhead cost
Is fire a selling cost manufacturing cost direct manufacturing cost indirect administraitve cost fixed cost or variable cost?
Is fire a selling cost, direct manufacturing cost, indirect manufacturing cost, administrative cost, foxed cost or variable cost.
What are the types of cost center?
Production cost centerpersonal cost centerservice cost centeroperation cost centerimpersonal cost centerprocess cost center
Does total cost equal the fixed cost plus the vriable cost divides by volume?
Formula for Total Cost: Fixed Cost + Variable Cost + Semi-Variable Cost if there is no semi-variable cost then fixed cost + variable cost is a total cost. if we devide the total cost with volume as well then it will be cost per unit not total cost
Is janitorial cost a variable cost?
No, Janitorial Cost is not a variable cost, it is a Fixed Cost.
What is the selling price of a jacket that is 156 the profit is 30 percent of the cost what is the price?
Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80
Difference between histotical cost and standard cost?
Standard cost is the cost which is basis to measure the actual cost historical cost is the initial cost
Is direct material a selling cost?
is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost, is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost,
