This website uses cookies to ensure you have the best experience. Learn more

. Amos Mccoy Is Currently Raising Corn On His 100 Acre Farm And Earning An Accounting Profit Of $100 Per Acre. However, If He Raised Soybeans, He Could Earn $200 Per Acre. Is He Currently Earning An Economic Profit? Why Or Why Not?

909 words - 4 pages

. Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not?

2. Determine whether each of the following is an explicit cost or an implicit cost:
a) Payments for labor purchased in the labor market
b) A firm’suse of a warehouse that it owns and could rent to another firm
c) The wages that owners could earn if they did not work for themselves

3. What are economies of scale? Please give an example. What are diseconomies of scale? Please give an example.

4. Your rich relative died and left you $100,000, which ...view middle of the document...

In each case, indicate whether the firm should produce in the short run or shut down in the short run, or whether additional information is needed to determine what it should do in the short run
a. Total cost exceeds total revenue at all output levels.
b. Total variable cost exceeds total revenue at all output levels.
14. (The Long-Run Industry Supply Curve) A normal good is being produced in a constant-cost, perfectly competitive industry. Initially, each firm is in long-run equilibrium. Briefly explain the short-run adjustments for the market and the firm to a decrease in consumer incomes. What happens to output levels, prices, profits, and the number of firms?
15. (Long-Run Industry Supply) Why does the long-run industry supply curve for an increasing-cost industry slope upward? What causes the increasing costs in an increasing-cost industry?
16. The National Council of Economic Education’s EconEdLink has an interesting module on the economics of Internet access at http://www.econedlink.org/lessons/index.cfm?lesson=NN10 Please review the materials provided. Is provision of Internet access a competitive industry? Briefly discuss.
17. Commodities like gold often trade in markets that are examples of perfect competition. Think a commodity that you believe trades in a perfectly competitive market, and describe why you believe this is so.
18. (The Short-Run Firm Supply Curve) An individual competitive firm’s short-run supply curve is the portion of its marginal cost curve that equals or rises above the average variable cost. Explain why.
19. What are the major characteristics of perfectly competitive market?
20. (Perfect Competition and Efficiency) Define...

Other Essays Like . Amos Mccoy Is Currently Raising Corn on His 100-Acre Farm and Earning an Accounting Profit of $100 Per Acre. However, If He Raised Soybeans, He Could Earn $200 Per Acre. Is He Currently Earning an Economic Profit? Why or Why Not?

Jose Rizal. Why is he a national hero>

891 words - 4 pages has no means at his disposal to carry out his campaign, but that never hindered him. He’s contented with what he has and made something out of it. Even though the means of declaring him as the Philippine National Hero was made by the American government, he is no doubt worthy of receiving the prestigious title. I found an article stating who should be the national hero: Jose Rizal or Andres Bonifacio. Both people are worthy of receiving

Which Type of Department (Line or Staff) Is Most Important to an Organization? Why? Could an Organization Function Without Either of Them? Why or Why Not? 

823 words - 4 pages Rachel Preen Management 301 Written Assignment #3 Which type of department (line or staff) is most important to an organization? Why? Could an organization function without either of them? Why or why not?  When discussing any part of management theory you must take into consideration to many different aspects. From what kind of organization is it? What their goals are? What type of management approach does the company have? And what is the

Is He or isn't She - Original Writing

1673 words - 7 pages Is He or isn't She - Original Writing I reach my destination, not really convinced how I should feel, or what I should anticipate! A mid terraced house, unsure of the area, but seems calm. A cold October evening, 5 pm and already the streets are dimly lit, a clear sky above, evidently displaying the dazzling stars that gleam beyond. I approach the house to a very inviting welcome, are they really friendly people or

East Of The Mountains If Suicide Was At Odds With His Life, Why Did He Consider It?

955 words - 4 pages Sopheatra KhievAn Old Man's Journey The novel East of the Mountains by David Guterson is not about a boy or alien but an "old" man's struggle with terminal colon cancer. "Suicide was at odds with the life he knew, at odds with all he understood, of himself and of the world"(58). An old and retired heart surgeon, Ben Givens seeks to put all of his memories behind him and commit suicide. His plan was to hang himself and make it appear as if

One is Happy When He Believes That He is Happy

876 words - 4 pages have serious problems, no matter what is happening. He asserted that the total level of one's disturbance by problems remains constant over time. If somebody breaks his leg, his problem is the broken leg and not, for example, being yelled at by a stranger on the street. In such a situation the encounter with this stranger doesnt matter at all. On the other hand, if he didn't break his leg, the great problem accounting for a sleepless night

He Is and Always Will Be

905 words - 4 pages Saray Rivera L. Riddell English 50 26 September 2012 I.E.: He is and Always will be A woman can go on a date with a man and she might not know if he is a bad boy or a stage five clinger. Usually men try to give women a great impression; therefore, it is quite simple to stereotype them most of the time. All men have different personalities, but it can be easy to categorize them by their actions. Women encounter different types of men every

Crm Is Not a Process Technology Per Se

1127 words - 5 pages CRM is not a process or technology per se; rather it is a way of thinking and acting in a customer-centric fashion. (Rainer, 2013). Handling customers and building a positive two way relationship has become an important part for every businesses today. Far to often managers are blinded by the general assumption that an investment into CRM-systems and using the gained data would make their own business achieving a competitive advantage and

He Toefl Test Is a Wonderful Test

744 words - 3 pages Do you agree or disagree with the following statement: The TOEFL test is a wonderful test!Use reasons and examples to support your response. Personally, I have to admit I would never say that “the TOEFL test is a wonderful test”. With that I do not intend by any means to criticize the test or to say that the test is not a valid way to prove the level of English of students interested in this language for academic purposes. Much on the

Is It Correct To Say "He Who Has A Why To Live Can Bear Almost Any How"?

297 words - 2 pages 1. I believe it is correct to say "He who has a why to live can bear almost any how". By having a reason to live a person, can overcome any hardships which they may have to live. A reason to live, whatever it may be pushes a person to strive forward in his or her life. It offers a goal for that person to achieve and in the process it promotes perseverance. This will is the most powerful force in the human soul because the person understands that

Man Is Born Free but Everywhere He Is in Chains

591 words - 3 pages . What was their sin? This was their sin -- that they were trying to make a door so that people could get out of the prison, so that slavery could be destroyed from the earth. History says slavery has been destroyed; that is all bunk! It has not been destroyed, it has only moved from the gross to the subtle. Yes, you don't have chains on your hands and on your feet because the chains have become more subtle -- they have gone into your mind, they

In 1884, Hans Christian Gram Described a Method of Staining Bacterial Cells While Not Staining Surrounding Animal Tissues; However, He Thought the Staining Method He Developed Was Faulty Because Not...

2299 words - 10 pages These programs focus on keeping the elderly healthy. Usually people living in low income families or neiborhoods have poor health outcomes Poverty also affects the health of children when they are young . And also later on in life as an adult. There is New Public Health it is a contemporary application of a broad range of evidence- based scientific, technological, and management systems implementing measures to improve the health of

Related Papers

Ethan Allen And Why He Is An American Hero

1435 words - 6 pages courageous deed; he may be a hero because of his generosity; or he may become a hero if he is an inspiration to others. If in any way, a person has contributed greatly to society, he may be considered a hero. Although many people like to consider mundane, unoriginal people such as firefighters and police, for instance, to be heroes, they cannot compare to patriots like Ethan Allen. However, if the hero was done too great a number of unacceptable deeds

Half + Half 1000 Acre Project

1335 words - 6 pages analog ecosystem with architectural structures and ecological functions similar to original climax or sub climax vegetation), is an innovation based on small holder farmers initiatives to conserve and restore small forest patches ranging from ½ acre to 5 acres per household/farmer leaving a piece of land to regenerate naturally into a forest by its own, it is anticipated that through campaigns and sensitization, these small forest patches or

Is He Serious? (An Opinionated Report On The Unabomber's Manifesto)

1955 words - 8 pages , because we are driving and driving forsomething better in our lives, the unfortunate who don't have direction are getting leftout. Is that our demise? I don't think so. Life in general has always been survival of thefittest, it's a natural process.The next topic pertains to all the sources of our problems. If he truly believes heknows all of them, then why can't he tell us so we won't have the problems? He says weblame all our problems on the

How Does Hountondji Define African Philosophy And Why Does He Think His Definition Is Free Of Theoretical Presuppositions

2452 words - 10 pages How does Hountondji define African Philosophy and why does he think his definition is free of theoretical presuppositions? Table of contents: 1 Introduction 2 Bantu Philosophy 3 Political Criticism 4 Ethnophilosophy 5 Conclusion 6 Bibliography 1 Introduction Hountondji defines and limits African philosophy as a set of texts. By ‘African philosophy’ he means a set of texts, specifically the set of texts written by Africans and described as