1. Microeconomics, LTC and STC issues, the part with the question mark in the picture is really incomprehensible, in the short term………………until, point e
According to the definition of short-term here, in the short-term, only the input of production factors can be adjusted and changed by the manufacturer, and the scale cannot be expanded or reduced. That is, if the cost curve of the enterprise is STC3 at this time (large vertical intercept and large production scale), the enterprise cannot adjust the scale in the short term, that is to say, the STC curve of the enterprise cannot be changed. In this case, the output of the firm is Q2 again, then the cost is the value of STC3 at Q2 d
2. What does microeconomics ltc mean
The long-run total cost curve.
The long-run cost curve is the minimum cost of the cost function model over time, which means that the input is not fixed. Using the long-run cost curve, a firm can expand the size of its means of production to reduce the cost of producing goods.
Three main cost functions (or “curves”) are used in microeconomic analysis:
1. Long-Term Total Cost (LRTC) is a cost function that expresses the total production cost of all products. cost.
2. Long-term average cost (LRAC) is a cost function that represents the average cost per unit of producing a good.
3. Long-run marginal cost (LRMC) is a cost function that represents the cost of producing one more unit of a good.
A firm’s idealized “long run” means that there are no time-based constraints on the inputs (eg, factors of production) the firm can employ in its production technology.
For example, a business cannot build additional factories in the short term, but in the long run this restriction does not apply. Because of the complexity introduced by forecasting, companies often assume long-term costs are based on the technology, information, and prices the company currently faces. Long-term cost curves do not attempt to predict changes in companies, technologies or industries. It simply reflects how the cost would be different if there were no restrictions on change inputs in the current period.
The long-term total cost LTC curve slopes upward from the origin. When the output is zero, the long-term total cost is zero, and as the output increases, the long-term total cost increases.
The slope of the long-term total cost LTC curve first increases at an increasing speed; then it increases at a decreasing speed, and after passing the inflection point, it increases at an increasing speed.
The shape of the LTC curve is mainly determined by the factors of economies of scale. At the beginning of production, a large number of factors of production are input, and when the output is small, these factors of production cannot be fully utilized, so the LTC curve is steep.
With the increase of output, the factors of production begin to be fully utilized. At this time, the ratio of cost increase is less than that of output increase, showing increasing returns to scale. Finally, due to diminishing returns to scale, the rate of increase in cost is greater than the rate of increase in output.
It can be seen that the characteristics of the LTC curve are determined by the changes in returns to scale.
If this size is marked on the window, the size and specification should be indicated in the window and door table.
4. How to take screenshots of ltc files
You can use third-party software to take screenshots, such as the QQ screenshot tool and the camera tool that comes with the system. Personally, I think QQ is widely used, and most people use it. You can use QQ’s CTRL+ALT+A.
5. What does LTC15 represent on the architectural drawings
I found it online:
Recommendations for the guidance of contractors on the content, format and structure of annual reports
International Seabed Authority on the recommended content, format and structure of annual reports of contractors in 2015
Not sure if it fits.
6. What does the architectural drawing ltc0915 mean
The LTC in the architectural drawing is an aluminum alloy sliding window.
Sliding windows: There are two types: left and right, up and down. Sliding windows have the advantages of not occupying indoor space, beautiful appearance, economical price and good sealing performance. Using high-grade slide rails, it can be opened flexibly with a slight push. Coupled with large pieces of glass, it not only increases indoor lighting, but also improves the overall appearance of the building. The sash has a good stress state and is not easy to be damaged, but the ventilation area is limited to a certain extent.
7. What window is LTC in architectural drawings
There is no mandatory requirement for the standard method of doors and windows in engineering design, only the usual practice. The symbols are only for the convenience of drawing, description and statistics. For symbols that are not commonly used like this, look at the notes behind the door and window table, if you do not directly ask the designer.
8. What is LTC
LTC is shorthand for Litecoin, which is inspired by Bitcoin (BTC) and technically has the same ��The realization principle, the creation and transfer of Litecoin is based on an open source encryption protocol, which is not managed by any central authority.
Litecoin LTC market information can be found in Yingwei Finance
9. Try to illustrate the relationship between LTC and LTC. The relationship between STC, LAC and SAC, LMC and SMC curves
The long-term marginal cost formula is expressed as:
or: LMC =dLTC/dQ
MR=AP=P is the characteristic of a perfectly competitive market, that is, the demand curve P(Q) and the marginal cost curve MR of the perfectly competitive market coincide with the average cost curve AP. MR=LMC=SMC=LAC=SAC This is the condition for the equilibrium of a perfectly competitive market.
LMC, SMC, LAC, SAC are long-run marginal cost, short-run marginal cost, long-run average cost and short-run average cost, respectively.
Because LAC is the envelope of SAC, returns to scale change and remain unchanged in the long run. When the returns to scale remain unchanged: LAC=LMC, which is the LAC straight line at this time, which is the lowest point of SAC; when the returns to scale are increasing or decreasing: LMC and LAC intersect with the lowest point of LAC, which is the lowest point of SA corresponding to the output point.
(9) Extended reading of ltc flow chart:
(1) Each STC and LTC has only one common point. This is because for each STC there is only one point tangent to the line from the origin. Alternatively, it can be said that for each SAC, there is only one point at which the SAC intersects the SMC, at which point the SAC reaches its lowest point.
(2) The STC can only be located above the LTC, that is, except for the common point, all other points on each STC are greater than the LTC under the same yield state. Otherwise, if the STC falls below the LTC, it means that the short-run average cost SAC is less than the long-run average cost LAC, which contradicts the line that LAC is the lowest point of SAC.
(3) Only when the LAC reaches the lowest point, the STC will be tangent to the LTC. This is because every point on the LTC is its common point with an STC. At these common points, the corresponding STC is tangent to a straight line starting from the origin,
However, For LTC, only when the LAC falls to the lowest point is it tangent to a straight line from the origin. Therefore, except for the point on the LTC corresponding to the lowest point of the LAC, both the LTC and the STC are in an intersecting relationship, and there is only one intersection point.