Suppose you own a home remodeling company. you are, Ask an Expert

Economics

Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happen to

a. Your firm's costs of production? Explain.

b. The price you can charge for your modeling services? why?

c. Profits in home remodeling? why?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9277746

Have any Question?Write your Review or question?

Related Questions in Business Economics

1 a cpu manufacturing company knows based on the machines

1. A CPU manufacturing company knows, based on the machines working at maximum productivity, that 90% of the CPU's coming off the line meet quality standards. The quality control inspector pulls 25 CPU's off the line to ...

Consider the following estimated regression model relating

Consider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary=11,756.80+2723.3(Education)+1092.64(Experience) Suppose an employee with 11 years of ed ...

Under what circumstances would lras and sras have the same

Under what circumstances would LRAS and SRAS have the same slope?

A student must answer 6 multiple choice questions for a

A student must answer 6 multiple choice questions for a test, but the student did not study well. There are 6 answers per question, but only one is correct. If the student randomly guesses on each questions, what is the ...

You take out earthquake insurance on your homenbspthe

You take out earthquake insurance on your home. The annual premium is $600. In case of an earthquake the company will pay you $400,000. The probability of an earthquake in your area is 0.0002. What is the expected value ...

Sixty percent of households say they would feel secure if

Sixty percent of households say they would feel secure if they had? $50,000 in savings. You randomly select 8households and ask them if they would feel secure if they had? $50,000 in savings. Find the probability that th ...

A federal agency responsible for enforcing laws governing

A federal agency responsible for enforcing laws governing weights and measures routinely inspect packages to determine whether the weight of the content is at least as great as that advertised on the package. A random sa ...

Fully explain at least one reason why many developing

Fully explain at least one reason why many developing countries suffered serious debt crisis in the early 1980s. Does this reason you explained in debt support Krueger & Srinivasan's argument? Why or why not? How could t ...

What is a survey and pros and cons of using this method to

What is a Survey and pros and cons of using this method to collect data are? Have you done a survey? How successful were your results?

What does an increase in the savings rate do for a countrys

What does an increase in the savings rate do for a country's output? Why doesn't every country do that?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert