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Perfectly competitive firm in long run equilibrium?
what about them? profits are 0 price=marginal cost all costs are variable optimal allocation of inputs is where marginal rate of technical substitution is equal to the price ratio of the inputs.
What is considered an optimal mix of output?
The optimal mix of output is known in economics as the most desirable combination of output attainable with available resources, technology, and social values.
What are Inputs that can be increased or decreased in the short run called?
variable inputs. On the other hand fixed inputs are long run.
Do firms operate at optimal scale?
do firms operate at optimal scale
Classification of inputs in economics?
-these are inputs that do not change with the volume of production.This means, wheter you produce or not, these factors of production are unchanged. -these inputs change in accordance with the volume of production. NO production means NO variable inputs, while more production means more variable inputs. -sage- :P e-add: sage.ronquillo@yahoo.com
What is the optimal combination of inputs and its formula?
optimum combination of input
What are the theories of production?
The main theories of production include the production function theory, which examines the relationship between inputs and outputs in the production process; the theory of economies of scale, which suggests that as production levels increase, costs decrease per unit; and the theory of factor proportions, which analyzes the optimal combination of inputs to maximize output.
Perfectly competitive firm in long run equilibrium?
what about them? profits are 0 price=marginal cost all costs are variable optimal allocation of inputs is where marginal rate of technical substitution is equal to the price ratio of the inputs.
What is isocost?
isocost is really aline that demonstrates the combination of inputs that can be used however each combination has the same cost
What is iso cost line?
the combination of two different inputs which costs the same amount..
What is considered an optimal mix of output?
The optimal mix of output is known in economics as the most desirable combination of output attainable with available resources, technology, and social values.
What is diagnostics optimal therapy?
Theranostics is defined as the combination of therapeutic and diagnostic capabilities in the same agent.
What is the optimal tire pressure?
The pressure that gives the best combination of ride, traction, safety, durability.
What are the inputs of TQM?
inputs of TQM
What is Composition of inputs at Starbucks?
what the composition of inputs for Starbucks
What is load optimal defaults?
what is optimal defualts
What is optimal jamming attack?
what is optimal jamming
