Short-Run Production and Marginal Revenue and Factor Costs

Related BrainMass Solutions

• Productivity and Cost

  The cost function for one variable factor of production is applicable in short run. In the short-run at least one factor of production is fixed. During this period a firm can produce varying levels of output but only by varying variable inputs.

• Profit Maximization in short run under perfect competition

  Please see attached file Subject: Profit Maximization in short run under perfect competition Details: Discuss the profit maximization of a firm in Short Run, under Perfect Competition, with the help of Marginal Revenue and Marginal Cost Approach

• Profit Maximization Explained

  The solution demonstrates the use of the short run production function to maximize profits in 285 words with calculations explained.

• Macroeconomic Aggregates

  2) Explain why a firm maximizes its profits by producing the level of output at which marginal revenue equals marginal costs. 3) Explain how labor resistance and political and legislative influences reduce the ability of firms to minimize their costs

• Long Run,Short Run,Law of diminishing Marginal return

  19520 Long Run,Short Run,Law of diminishing Marginal return Subject: Long Run,Short Run,Law of diminishing Marginal return Details: Define Short Run and Long Run. Discuss three types of decisions that firm have to take in Long Run.

• Problems with measuring cost

  This could be related to added, decreased and even marginal product of variable type factor or factors, which changes the price of supplies cost of output. This is like a slope of the short-run marginal type curve cost change.

• Production Functions and Optimal Input

  A basic distinction between long run and the short run is that a. if a firm produces no output in the long run, it still incurs a cost. b. the opportunity costs of production are lower in the short run than in the long run. c.

• Optimal Output for Short-Run Profit Maximization is Marginal Revenue = Marginal Cost

  649472 Optimal Output for Short-Run Profit Maximization is Marginal Revenue = Marginal Cost Why is the optimal level of output for short-run profit maximization equal to that level where marginal revenue equals marginal cost?

• Maquiladoras

  425835 Production, Costs, and Profits Give a brief summary of economic costs (i.e. how are they different from accounting costs). In the short-run, why might a firm still operate even when there is a loss.