44. If the firm is facing pure competition both when it buys labor and when it sells its product, what quantity of labor will it demand at a wage rate of $637 (0) 15 (b) 20 (c) 40 Ⓒ (0) 60 (e) 100
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- Use the diagrams to answer the following questions. Price and cost 20- 18 16- 14- 12 10 8 6 4 2+ o Market 1 488888 MC NO₂ MR 40 55 an in en nn minn Price and cost 20- 18- 16- 14 12- 10- 8- 6- 4- 2- 0 Market 2 0000000 MC NMR Annnnn in ED ORA on noinn If the firm wants to maximize profits, what price will it charge in Market 1, and what quantity will it sell? The firm will charge a price of $ using integers). Q and will sell a quantity of units. (Enter numeric responsesInterpret in below diagram and determine at what point the short rus firm will shut down their production and why? $300 190 MC ATC $74 100 P=$71 50 Cost and revenue 1 6 Output For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph v Arial 7 8 9 10pt AVC 10 MR =P > !!! V AV 2 I.Mc Graw Hill apter 10 Problems 1 01:49:26 eBook Price ($) F OU 60 40 20 0 4 8 Output 12 MR 16 of $ Prev D₁ Saved 20 1 of 5 Instructions: Enter your answer rounded to 2 decimal places (i.e. dollars and cents). If there is an economic loss, be sure to include a negative sign (-) in front of your answer. This firm is incurring a (Click to select) ‒‒‒ Help Next > Save & Exit Submit Check my work 2
- The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…need correct answe. absuletly upvote !!!Actions Events E1 E2 E3 E4 A1 8 -10 6. A2 -4 12 18 -2 АЗ 14 8 Find the best action under each of the 5 decision criteria. a. Expected Monetary Value b. Expected Opportunity Loss с. Маximax d. Maximin e. Minimax Regret Rule 1.
- Homework (Ch 10) 8. The effects of property rights on achieving efficiency Consider a lake found in the town of Center Barnstead, and then answer the questions that follow. The town has a hiking lodge whose visitors use the lake for recreation. The town also has a research lab that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the research lab's waste decreases the hiking lodge's economic profit. Suppose that the research lab could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the hiking lodge would no longer be affected. If the research lab uses the recycling method, then the research lab's economic profit is $1,500 per week, and the hiking lodge's economic profit is $1,800 per week. If the research lab does not use the recycling method, then the research lab's economic profit is $2,000 per week, and the hiking…365 ht, Library, and ng Resources soft Teams ngs soft Teams s "Marble Madness" is a local carnival game, costing $2. There are 100 total marbles in a bag: 2 red, 8 orange, 10 yellow, 30 green, 30 blue, and 20 black. If a red marble is pulled, you win $6, an orange marble wins $4, and a yellow marble wins $2. A green, blue, and black marble result in a loss of the $2 cost to play. What is the expected value of a marble pull? Provide your answer belowQuantity 0 1 2 3 4 5 6 7 8 Total Cost $60 90 109 125 140 160 184 210 240 TVC AVC 49 $0 30 30.00 90.00 24.50 54.50 65 21.67 41.67 16 80 20.00 35.00 15 100 124 150 AC -LL_ 20.00 32.00 MC 21.43 30.00 180 22.50 30.00 30 19 20.67 30.67 24 20 26 30 Given the costs above, what is this perfectly competitive firm's total profit* when the market price is $15? *Note: Be sure to use a negative sign if the firm incurs a loss.
- I'll give you multiple uovote..hand written plzYverrry is earning $200,000 per year as medical sales representafive. Due to the covid pandemic, she decided to open a small restaurantin the City where she lives. She invested $200,000 of his savings that has been eaming $5,000 interest per year. Since there was vacant space in the area where she lives, she decided to use this lot to put up his restaurant. The lot has been earning $10,000.00 annually as it is beingrented as a parking space for the executives in the nearby Firm. She hired one (1) clerk and 3 helpers who will help him in the restaurant. Water and electricity bills for the year reached $50,000.00. Yverry will be paying the clerk $3,000.00 while the 3 helpers $2,500.00 each monthly. Affer a year of operation, Yverry was able to earn a sales revenue of $800,000.00 Required: Compute for the Yverry's accounting and economic profit.1. ThedemandfunctionforagoodisgivenbytheequationP=a−bQwhilethetotalcost function is TC = dQ2 + eQ + f, where a, b, d, e and f are positive constants. (a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximised.