Distinguish between the short run and the long run. in the short run, in the long run,
a. a...
Distinguish between the short run and the long run. in the short run, in the long run,
a. a firm's plant is fixed; a firm can change its plant
b. the quantity of only one factor of production is fixed; the quantities of all factors of production can be varied
c. all factors of production are variable except technology; the quantities of all factors of production can be varied
d. all costs are sunk costs; the quantity of only one factor of production is fixed
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When a company produces and sells x thousand units per week, its total weekly profit is p thousand dollars, where upper p equals startfraction 800 x over 100 plus x squared endfraction . the production level at t weeks from the present is x equals 4 plus 2 t. find the marginal profit, startfraction dp over dx endfraction and the time rate of change of profit, startfraction dp over dt endfraction . how fast (with respect of time) are profits changing when tequals8?
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