LONG-RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION In the long run‚ a firm in the perfectly competitive market can earn only normal profit. So‚ the profit maximization under long run is: (1)Necessary condition P=LMR=LAR=LMC=LAC (2)Sufficient condition Slope of MC > Slope of MR We can establish this condition from the following analysis. In the above diagram for any market price OP1 the existing firms can earn supernormal profit as for the equilibrium output level OQ1. The average
Premium Economics Supply and demand
Equilibrium Lab Report Data Collection: 1. What card did you have? K=13 What was your trading partner’s card? Q=12 2a) . At what price did you eventually trade? 12 Your surplus: -1 2b) If you didn’t trade‚ why not? Economic Relevance 3. What is the predicted equilibrium? How does the most common trading price in your lab session compare to the equilibrium price? The predicted equilibrium was (13‚ 7). 4. Who was able to stay in the market? Who was shut out? In what ways did this
Premium Economics
Steven Dziuk SC300 Big Ideas in Science: From Methods to Mutation Unit Five Project Temperature and Equilibrium Virtual Lab June 15‚ 2010 Temperature and Equilibrium Virtual Lab This virtual lab studies the affects different temperatures have on two sets of molecules‚ both separate and when mixed. I will compare how these two sets of molecules react in colder temperatures; then hotter temperatures; and how the two react with each other. Then‚ based on these findings‚ I will offer
Premium Chemistry Chemical reaction Temperature
Temperature and Equilibrium Virtual Lab Change is influenced by many different factors in many different situations. If you imagine the 400‚000 gallons of water in a stream at the top of a hill‚ you can picture that they will flow down the hill in order to reach equilibrium. But what if the temperature outside is -40 degrees Fahrenheit? How might this change the movement of the water molecules down the hill? This virtual lab will allow you to explore how temperature changes affect two linked
Premium Temperature Water Thermodynamics
Usually the power of the present societies is tripartite. The power is divided into an executive‚ a legislative and a judicative part. As though is it also in the science fiction film Equilibrium written and directed by Kurt Wimmer. After World War III only one civilised stronghold is left‚ the city-state Libria. The city-state contains the same structure of state as we know it today from totalitarian states. However the power of state is tripartite and Preston is part of the executive apparatus
Premium Feeling Emotion
September 19 2013 Environmental Chemistry - ENCV800401 + Review: Biogeochemical cycle Consists of: Pool: Source and sink Fate and transport Substance and speciation Equilibrium and kinetics Mass balance Quantifying through numerous method‚ including: Equilibrium gases in water + Preview: Basic Aquatic Chemistry : An Introduction Properties of water Air-water exchange Acid-base reaction in natural waters Precipitation and dissolution in natural
Premium Oxygen Carbon dioxide Water
Thesis: Star Trek and Star Wars each posses similar and different general concepts‚ themes‚ and motives. Outline I. Technology A. Star wars 1. Weapons 2. Ships B Star Trek 1. Weapons 2. Ships II. Characters A. Star Wars Sean McGrann Enr. English II Compare/Contrast Essay 3/6/00 Star Wars vs. Star Trek Throughout the past two decades‚ two science fiction cult classics have rivaled each other. Both have strong followings of loyal fans that
Premium Life Science fiction film Blade Runner
1300 Star Wars VS. Star Trek It has long been debated by nerds worldwide: Star Wars or Star Trek‚ which one is superior. In this paper we take a look at the two universes so you can decide which is the greatest in history of the world. The three points discussed: 1) Geopolitical a combination of political‚ historical‚ racial; 2) Military tactics found in the two universes; and 3) religion and philosophy of each. In the Star Trek Universe the Federation was founded by the following four races
Premium Star Wars Episode IV: A New Hope Star Wars Luke Skywalker
franchises ever? Star Wars is a movie series with 7 two hour episodes with two more in production. Star Trek is a TV show with 45 minute episodes‚ 7 seasons‚ and 5 series. Star Wars and Star Trek are very engaging movie series with different plots and starships but both have similar weapons and protagonists that have the same types of relationships. One of the things that both series have in common is that they both have starships. However‚ their starships are vastly different. In battle‚ Star Wars characters
Premium Darth Vader Star Wars Episode IV: A New Hope Luke Skywalker
Equilibrium Level of Income The Consumption and Saving Functions Consumption is the part of income spent on goods and services yielding direct satisfaction. It occupies the biggest chunk of the expenditure on output. Y= C+S Where Y= Income C= Consumption S= Saving Factors Influencing Consumption 1. Distribution of national income 2. Interst rate 3. Desire to hold cash 4. Price level 5. Population 6. Income 7. Taxes 8. Attitudes and values Consumption function is the relationship
Premium Investment Macroeconomics Economics