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Question
Submitted by myl_ch on Mon, 2012-07-30 10:42
due on Fri, 2012-08-03 10:37
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Economics for Managers Book

Please answer the 4 black highlighted questions

 

question one on page 187

question two and three on page 220

 question four on page 247

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Answer
Submitted by smartwriter on Tue, 2012-07-31 04:21
teacher rated 1499 times
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QUESTION ONE GRAPH 1 In the first graph where the Average Total Cost (AVC) Curve is greater than the Marginal Revenue (MR) curve, the firm is said to be making Losses. The loss minimization point is the point where the MR equals the MC. The firm should p

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xxxxxxxx xx xxx answer xxx xxxxxxxxxx xxx xxxxxxxx Book".

xxxxxxxx

Smartwriter

file1.doc preview (482 words)

xxxxxxxx xxx

xxxxx 1

In the xxxxx graph xxxxx the xxxxxxx Total xxxx (AVC) xxxxx xx greater than xxx xxxxxxxx Revenue (MR) xxxxxx the xxxx is said to be xxxxxx xxxxxxx xxx xxxx minimization point xx the point where xxx MR xxxxxx the MC. The xxxx should xxxxxxx xx xxx output level xxxxx xxx Marginal xxxxxxx xxxxxx xxx Marginal Cost. The xxxx should continue xx operate xx xxx xxxxx xxxx xxxx xx xxxxxxx xxxx it xxxxxxxx xx the output xxxxx xxxxx xxx xx xxxxxx the MC, xxx price xx higher than xxx xxxxxxx Total xxxx and xxxx xx this xxxxx is lower xxxxxxxx to the xxxxxxxxx xxxx xxxx xxx firm completely xxxxx xxxxx xxxx xxxxxxxx to xxxxxxxx xxxxxxx xxx business xx xxxxxx made because the firm xxxx pay xxx fixed xxxxx and xxxxxxxxx shutting xxxx xx xxx xxx xxxx xxxxxxxxx

xxxxx xx

xx xxx xxxxxx xxxxxx the xxxx is xxxxxx profits. xxx xxxx xxxxxx produce at xxx output level xxxxx the price equals xxx Marginal Cost, xxxxx is xxx profit maximization xxxxxx for xxxx xxxxx The firm xxxxxx

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Answer
Submitted by smartwriter on Tue, 2012-07-31 04:20
teacher rated 1499 times
4.428955
price: $20.00

QUESTION ONE GRAPH 1 In the first graph where the Average Total Cost (AVC) Curve is greater than the Marginal Revenue (MR) curve, the firm is said to be making Losses. The loss minimization point is the point where the MR equals the MC. The firm should p

body preview (11 words)

xxxxxxxx xx the answer xxx "Economics xxx xxxxxxxx Book".

xx

xxxxxxxx

xxxxxxxx

file1.doc preview (482 words)

xxxxxxxx ONE

xxxxx 1

In the first xxxxx xxxxx xxx Average xxxxx Cost (AVC) xxxxx xx xxxxxxx than xxx xxxxxxxx xxxxxxx xxxx xxxxxx the xxxx xx said to xx making xxxxxxx The loss minimization point xx the point xxxxx xxx MR xxxxxx xxx MC. The firm should xxxxxxx at xxx xxxxxx level xxxxx the Marginal xxxxxxx equals the xxxxxxxx xxxxx The xxxx xxxxxx xxxxxxxx xx operate xx the short run. This xx because when xx xxxxxxxx at the xxxxxx xxxxx where the xx xxxxxx xxx MC, xxx xxxxx xx xxxxxx than the Average xxxxx Cost and loss xx xxxx point is xxxxx compared to the xxxxxxxxx loss when the xxxx completely shuts down. This decision xx continue xxxxxxx the business xx xxxxxx made xxxxxxx xxx firm xxxx xxx its fixed costs and therefore shutting xxxx is not xxx xxxx decision.

xxxxx xx

xx xxx xxxxxx graph, xxx firm is making profits. xxx xxxx xxxxxx produce at the output level where xxx price equals xxx Marginal Cost, which is xxx profit xxxxxxxxxxxx xxxxxx for xxxx xxxxx The xxxx should

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