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A firm's long run total cost curve is given by TC(Q) = 1000Q - 30Q^2 + Q^3. Derive the expression for the long run average cost curve and sketch it. At what quantity is the minimum efficient scale?

To get a firm's long run average cost, you need to divide the total cost by quantity. As such, (1000Q - 30Q² + Q³)/Q = 1000 - 30Q + Q². From this we can see that the long ...

Answered by Christo N. • Economics tutor

10107 Views

How do I know when to use the passé composé or the imparfait?

So the passé composé (simple past) and imparfait (imperfect) might seem very similar since they both describe actions in the past. However there are some important differences. The key thing to remember i...

Answered by Millie G. • French tutor

2804 Views

Explain the Logical Problem of Evil

The Logical Problem of Evil, also known as The Inconsistent Triad, is an argument against God's existence that tries to show that the existence of evil is logically inconsistent with the existence of a Go...

Answered by Gus S. • Philosophy tutor

8092 Views

Explain why emotivism is a non-cognitivist theory of ethical language.

A non-cognitivist theory of ethical language is one that denies that ethical statements are propositions which express truth or falsity. Emotivism is the theory of ethical language that holds that ethical...

Answered by Gus S. • Philosophy tutor

13244 Views

Do Arguments from Empiricism support Berkeley's Idealism as a Theory of Perception?

Arguments from Empiricism do support Berkeley’s Idealism as a theory of perception. This is because Berkeley’s Idealism is in itself an argument from Empiricism. To understand this it is important to see ...

Answered by Gus S. • Philosophy tutor

4272 Views