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1. Nib Chocolate Company produces 100,000 chocolate bars, which sell for 4 ETB a bar. Variable costs are 3ETB per bar, and it has 150,000ETB fixed operating costs in the short run. Then, (5 pts)
a) Should the firm keep producing, as profits are ETB 50,000? Why?
b) Should the firm shutdown, as fixed costs are not being covered? Why?
c) Should keep producing as variable costs are being met? Why?
d) What do you think will be the decision of the firm in the long run?
a. A Mechanic Engineer warns that new Toyota cars overheats during long journeys. ( 2 marks)
b. The price of rubber which is used to produce tyres reduces. (2 marks)
c. A fall in the price of Nissan cars.(2 marks)
d. A rise in bus tariffs . (2 marks)
To simply enacted curriculum and intended curriculum for teachers in Economics class using practical examples?
. Suppose the short run market price a competitive firm faces is Birr 9 and the total cost of the firm is: TC = 200 + Q + 0.02Q 2 (A) Calculate the short run equilibrium output and profit of the firm.
a. A Mechanic Engineer warns that new Toyota cars overheats during long journeys. ( 2 marks)
b. The price of rubber which is used to produce tyres reduces. (2 marks)
c. A fall in the price of Nissan cars.(2 marks)
d. A rise in bus tariffs . (2 marks)
e. A successful advertising of Toyota cars.( 2 marks)
Explain how resources are allocated in a market system
Explain how resources are allocated in a market system
Explain the three possible profit maximizing positions of perfectly competitive firms in the short-run.
May i have a detailed explanation worth (15 marks)
1.1. Discuss the relationship between the three short-run total cost curves. Use a
diagram to motivate your answer
