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3 years ago

Explain the relationships between a firm’s short-run production function and its short-run cost

Business

1 answer:

Alex_Xolod [135]3 years ago

8 0

Answer:

The answer is below

Explanation:

The relationships between a firm’s short-run production function and its short-run cost function can be explained by considering the firm's short-run cost function as a form of closely related but opposite in direction of its production function.

This implies that when the firm's short-run cost function increases its marginal product, its marginal cost decreases, and in contrast, when its marginal product decreases its marginal cost commences to increase

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3 years ago

Suppose the economy is operating in long-run equilibrium and a positive demand shock hits. We expect a short-run increase in rea

Pepsi [2]

Answer:

The correct answer is: an expansionary gap; decrease the money supply.

Explanation:

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3 years ago

An investment offers a total return of 13.8 percent over the coming year. You believe the total real return will be only 9.4 per

Ahat [919]

Answer:

you would believe that the exact inflation rate will be 4.02% for the next year.

Explanation:

exact inflation rate = (1 + nominal return)/(1 + real return) -1

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3 years ago

It costs Glenwood, Inc. $82 per unit to manufacture 1,000 units per month of a product that it can sell for $122 each. Alternati

mixas84 [53]

<h2>Answer:</h2><h2>The profit would increase by $ 4000 if complex product was produced.</h2>

Explanation:

Total number of units to be manufactured = 1000

(i) The cost price of 1 unit = $ 82

The cost price of 1000 units = 82 * 1000 = $ 82000

Selling price of 1 unit = $ 122

The selling price of 1000 units = 122 * 1000 = $ 122000

Profit earned = 122000 - 82000 = $ 40000

(ii)To produce a complex product,

The cost price of 1 unit = $ 82 + $ 36 = $ 118

The cost price of 1000 units = 118 * 1000 = $ 118000

Selling price of 1 unit = $ 162

The selling price of 1000 units = 162 * 1000 = $ 162000

Profiy earned = 162000 - 118000 = $ 44000

Therefore, the profit would increase by $ 4000 if complex product was produced.

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4 years ago

What are the four basic elements of business?

Helen [10]

Answer:

The four basic elements of business are:

A. Production, fiance, marketing, and customer service.

Explanation:

These elements make up a business organizational structure. Functional structures and hierarchies revolve around these basic elements. Production in some organizations will be described as operations. It is the core of the business. Revenues that sustain the business are generated from production or operations. Finance handles the revenues and the costs associated with running a business. Marketing ensures that the goods and services from production or operations are made known to customers through research, information acquisition, and customer education. Finally, customer service ensures good relationships between the business and the customers, who are the chief patrons of the business. These essential elements ensure business success.

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3 years ago

Read 2 more answers