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![[40]
A steel producer sells steel to an auto producer. Accordingly, the auto producer is labeled the
downstream firm and the steel producer is labeled the upstream firm.
True
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В.
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- Please help with b. $32 is incorrect. :(2. Benson Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 14,000 pounds of raw chicken that costs $7,450, the company produces two parts: 2,500 pounds of drumsticks and 4,500 pounds of breast for a processing cost of $2,466. The chicken breast is further processed into 3,700 pounds of steak for a processing cost of $1,700. The market price of drumsticks per pound is $1.40 and the market price per pound of chicken steak is $3.70. If Benson decided to sell chicken breast instead of chicken steak, the price per pound would be $2.20. a-3. If the drumsticks are producing a loss, should that product line be eliminated? The drumstick product line be eliminated. b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base. Total cost…TVC TC AVC MC 15 23 30 Answer the following questions: 1- What is the total fixed cost (TFC) of producing 2 tables?* a. 0 O b 15 O c. 27 d 12
- In warehouses for repetitive movements of high volumes of materials ____the material handling activities are preferred for performing O a. Automated Guided Vehicles (AGV) O b. Automated Storage and Retrieval Systems (ASRS) O c. Radio Frequency Identification (RFID) O d. Supply Chain Operations Reference Model (SCOR)210 " 40 " What kind of externality is present in this market? O a. A negative consumption externality of x-10. Ob. A positive consumption externality of x = 20. Oc. A positive consumption externality of x = 10. Od. A negative consumption externality of x-20. #1 • Supply(P-40+Q₂) 10 " Demand (P-200-Q Social Marginal Benefit P-20-9. 200 9 210 Q Suppose the government imposas a policy (tax or subsidy) such that the new Supply curve lies on the Social Marginal Cost curve. What area represents the government revenue or expenditure from this policy? Ⓒa.DIGH Ob. E-H ⒸH+G+D+E+H+K Ⓒd.E+HIKPls help with what you can really appreciated
- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingshows the long-run average costs for three firms. Quantity Ali's Hats 1 2 3 4 5 6 7 $110 60 90 115 150 220 300 Bodi's Bats $110 80 70 70 70 70 90 Cody's Mats $110 90 80 70 50 20 30 a) In which industry, Hats, Bats or Mats, would there likely be many small firms? Industry: (Click to select) · b) In which industry, Hats, Bats or Mats, would there likely be firms of many different sizes? Industry: (Click to select) - c) Which industry Hats Bats or Mats, would likely be dominated by a few large firms? Industry (Click to select) Hats Bats Mats(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a third worker leads to marginal returns. Average Product and Marginal Product Output 1 2 3 14 Labor 5 6 17 12 10 8 6 4 8 9 10 0 -2 BAY constant 2 Total Product O negative 5 12 21 31 40 48 54 57 57 increasing 54 diminishing 4 MP 5 7 9 10 9 8 6 3 0 3 6 Workers AP 5 6 7 7.75 8 8 7.71 7.12 6.33 5.4 8 10 12
- 3. [TRUE / FALSE] pls explain When a monopsonist is operating in the long-run, then at theprofit-maximizing output average cost can be increasing.3. There are two profit maximising firms, Alpha Inc. and Beta Ltd. Both use labour, L and capital, K to produce their output, Q and they both employ workers at the minimum wage. Following a government review, the national minimum wage rises from W₁ to W₂. (a) Use an isoquant/isocost diagram to show how this will affect Alpha's optimal choice of inputs, assuming it wants to continue to produce the same output. (b) Following the increase in the wage rate, Alpha Inc. reduces the number of workers employed by significantly more than Beta Ltd. Construct the demand curve for labour for Alpha Inc. and explain how and why its shape will change if you graphed the same curve for Beta Ltd. There is a third firm in this market called Gamma plc. which also uses labour and capital to produce output, where w is the price of labour, r is the price of capital and Q is the output. Suppose that Gamma plc. is a price-taking firm and faces a cost function: 1 1 c(w,r,Q) = — w²r²Q² (c) By deriving an…2. Superior Metals Company has seen its sales volume decline over the last few years as the result of fising foreign imports. In order to increase sales and hopefully, profits), the firm is considering a price reduction on uranium-a metal that it produces and sells. The firm currently sells 60.000 pounds of uranium a year at an average price of $10 per pound. Fixed costs of producing uranium are $250,000. Current variable costs per pound are $5. The firm has determined that the variable cost per pound could be reduced by $.50 if production volume could be increased by 10 percent (fixed costs would remain constant). The firm' marketing department has estimated the arc elasticity of demand for uranium to be - 1.5. (a) How much would Superior Metals have to reduce the price of uranium in order to achieve a 10 percent increase in the quantity sold? (b) What would the firm's (i) total revenue, (ii) total cost, and (ii) total profit be before and after the price cut? 8 - 60000
