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Expliain Cost- Output relationship both in the short-run and long-run?
THE SHORT-RUN COST-OUTPUT RELATIONSHIP REFERS TO A PARTICULAR SCALE OF OPERATION OR TO A FIXED PLANT. IT INDICATES VARIATIONS IN COST OVER OUTPUT FOR THE PLANT OF A GIVEN CAPACITY AND THEIR RELATIONSHIP WILL VARY WITH PLANTS OF VARYING CAPACITY.
What is the relationship between long-run average cost curve and short-run average cost curve?
what is the relationship between long run average cost curve and short run average cost curve?
If a firm decides to produce no output in the short run its costs will be?
its fixed cost
What kind of relationship you postulate between short-run and long run average cost curves when these are not U shaped?
The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.
What happens to prices and output in short run when Short-run aggregate demand shifts left?
Prices rise, output rises
Expliain Cost- Output relationship both in the short-run and long-run?
THE SHORT-RUN COST-OUTPUT RELATIONSHIP REFERS TO A PARTICULAR SCALE OF OPERATION OR TO A FIXED PLANT. IT INDICATES VARIATIONS IN COST OVER OUTPUT FOR THE PLANT OF A GIVEN CAPACITY AND THEIR RELATIONSHIP WILL VARY WITH PLANTS OF VARYING CAPACITY.
What is the relationship between long-run average cost curve and short-run average cost curve?
what is the relationship between long run average cost curve and short run average cost curve?
If a firm decides to produce no output in the short run its costs will be?
its fixed cost
What kind of relationship you postulate between short-run and long run average cost curves when these are not U shaped?
The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.
Explain the difference between diminishing return of scale and economies of scale Provide examples if necessary diminishing return of scale?
Diminishing return of scale is a short run concept. It explains the relationship between the rate of output with increaring inputs of production. Economies of scale, on the other hand, explains the relationship between the LR average cost of producing a unit of good with increasing level of output. Diminishing return of scale is a short run concept. It explains the relationship between the rate of output with increaring inputs of production. Economies of scale, on the other hand, explains the relationship between the LR average cost of producing a unit of good with increasing level of output.
What kind of relationship would you postulate between short-run and long-run average cost curves when these are not you-shaped as suggested by the modern theories?
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
What happens to prices and output in short run when Short-run aggregate demand shifts left?
Prices rise, output rises
Do fixed and variable costs affect short-run marginal cost?
Fixed costs do not affect short-run marginal cost because they are just that- fixed. They are not dependent on quantity when it changes and does not vary directly with the level of output. Variable costs, however, do affect short-run marginal costs.
What kind of relationship would you postulate between short-run and long average cost curves when these are not U-shaped as suggested by the modern theories?
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
What is short-run cost function?
what is short-run cost function
In a short run if the variable cost equals 50 average total equals 75 and output equals 100 the total fixed cost must be?
The answer is 25.
Is the AVC increases as the level of output increases in the short-run?
Yes, in the short run, as output increases, average variable cost (AVC) tends to decrease at first due to economies of scale, but eventually increases due to diminishing returns to variable factors of production.
