46. Suppose the total cost of producing commodity X is Rs.125000. Out of this cost, implicit cost is Rs.35000 and normal profit is Rs.25000. Wha will be the explicit cost of commodity X?
Q: If the price of good A increases relative to the price of substitutes Rand C the demand for
A: To find : According to scenario what will happen im change of price .
Q: Give ideas/ways that the UN Member States look into to properly ameliorate the issue of women’s acce...
A: There are many measures that can be taken in order to provide protection for women on the ground of ...
Q: Identify the effect of increase in tax rates on either demand or supply curve and the equilibruim in...
A: Taxes are the form of government revenue which are collected through the goods and services purchase...
Q: The deciding shot in a soccer game comes down to a penalty shot. If the goal-keepe umps in one corne...
A: Since both players are playing Nash strategies, by the symmetry of the problem (2 person zero sum ga...
Q: Suppose you observe the time series of output y and real money supply M/ P reported in the Figure be...
A: Given information
Q: The United States, Japan, and China are among members of a trade organization referred to as O A. AA...
A: APEC (Asia Pacific Economic Cooperation) established in 1989 APEC facilitates trade, economic growth...
Q: Jim owns a pharmacy where he sells COVID tests. At the start of the year, he raised the price from $...
A: Price elasticity of demand refers to the responsiveness of quantity demanded to a change in the pric...
Q: The difference between the amount we spend to import products from other countries and the amount we...
A: International trade: - it means the buying and selling of goods and services with other countries.
Q: > Suppose a firm's production function is: Q = LK2 Find points and draw isoquants for Q1 = 10, Q2 = ...
A: Q=L12K12Q1=10 L K 5 19.89 10 9.99 20 5.01 25 4 50 1.98
Q: Consider the MPL is currently given by MPL=30/L. The supply of labor in the country is L=10. Consid...
A: (1) Labor demand equation: MPL = w Where 'w' is real wage => (30/L) = w => L = (30 / w) ------...
Q: ast year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this yea...
A: When almond milk “a non dairy product” harvest has been destroyed in California, it resulted in supp...
Q: Can a debtor be put in delay and consequently, incur liability even without demand from creditor? ex...
A: Debtor:- A debtor can be explained as a legal person that promises to repay any amount to another. A...
Q: How many countries are members of the European Union? (closest number if not exact) А. 4 В. 9 С. 28 ...
A: EU (European Union) is the union in which there are 28 member countries. The aim of this union is to...
Q: Explain how each ofthe following shocks can impact the demand orsupply of oil: A. A worldwide econom...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: Mario and Chris are the only two consumers in a particular market for train tickets. The following t...
A: Market demand is the horizontal sum of all consumers demand for a good in a given period for differe...
Q: The country of Panem produces only bow and arrow. Quantities and prices of these goods for the last ...
A: Inflation rate in year 2011 is computed using the formula: Inflation rate in 2011=GDP deflator in ye...
Q: Price A 10 B 8. IG C 6. H M D 4 |K E 2 F 40 50 60 70 Quantity Using the graph in question 14. If the...
A: Suppose curve shows different levels of quantity firms are willing to supply at different price leve...
Q: Which of the following statements is true? According to Okun's law: Select one or more: a. unemploym...
A: Please find the answer below.
Q: Assume that the general level of prices increases. Which of the following best describes what happen...
A: The aggregate supply is the total amount of services and commodities that firms in an economic plan ...
Q: Consider an economy where the natural rate of unemployment rate is 5% and real GDP at full employmen...
A: A natural economy - is a kind of economy wherein cash isn't utilized in the exchange of assets among...
Q: QUESTION 8 The nearest and largest trading partner with the United States is: OA. Canada. B. Mexico ...
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...
Q: The Taiwan debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16% yea...
A: Total amount of debt is 12 trillion. So 12 trillion in dollars will be 12,000,000,000,000. Here inte...
Q: QUESTION 33 Ricardo's theory of trade is based on (A: productivity of labor; B: doportunity cost; C:...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
Q: If the price of peanuts falls from $0.75/lb. to $0.70/lb and the quantity demanded of peanuts rises ...
A: Price elasticity of demand measures the responsiveness of quantity demanded to changes in price leve...
Q: According to Mercantilists, a trade is a game Zero sum Infinite sum Positive sum Negative
A: To find : What is trade game of.
Q: nt in the price of cars results in an increase of 30 percent in quantity dem
A: The amount of goods and services that are required by the people in the society is called quantity d...
Q: In the presence of reduced consumer confidence, the government can: (Click to select) decrease trans...
A: Aggregate demand is a sum of consumption spending, investment, government spending and net exports.
Q: can be defined as a situation in which one producer, or a group of producers acting in concert, cont...
A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are ...
Q: Country C had made foreign investment in countries A and B. Country C had not received any investmen...
A: Measuring the national income is the macroeconomic term. GDP (Gross Domestic Product) is the monetar...
Q: How can a society reach a socially efficient equilibrium basing it on the Coase Theorem if a vaccine...
A: In a market with externality, there used to be different market outcome than the socially optimal ou...
Q: Consider an OLG economy where each generation has 20 bananas when young, and 12 bananas when old. Su...
A: One of the dominant frameworks of analysis in the study of macroeconomic dynamics and economic growt...
Q: If the exchange rate is constant and U.S. exports increase, then in the foreign exchange market the ...
A: In the international market, exports and imports of goods and services influence the relative demand...
Q: An investment has the following cash flow series where interest is 7%: End of Year 0 1 2 3 4 5 6 7 8...
A: Given r= 7% End of year 0 1 2 3 4 5 6 7 8 Cash flow 150 300 450 0 -500 0 600 700 800
Q: Ronald McDonald decides to install a fuel storage system for his tarm that will save him an estimate...
A: Given, Ronald McDonald decides to install a fuel storage system for his farm that will save him an e...
Q: Is the perfectly competitive market model realistic? If not, why do we want to study the perfectly c...
A: Perfect competition is a market model that assumes a large number of firms produce identical goods t...
Q: In class, we estimated the per-capita demand function for watermelons (in natural logs) to be logQD ...
A:
Q: Consider a two-good exchange economy withr identical consumers. The consumption set is R, the indivi...
A:
Q: Supply & Demand $34 18 13 Price per unit
A: Consumer surplus is the area above the price line and under the demand curve. The price is set at $...
Q: How many times greater was the GDP in 2004 than in 1950? By how many times did the GPI increase betw...
A: In comparison to 1950, the GDP in 2004 was 3.42 times higher. From 1950 to 2004, the GPI climbed by ...
Q: Question 19
A: a) In order to determine the equilibrium quantity, we need to determine the market demand and market...
Q: 3. Under which market structure, average revenue of a firm is equal to its marginal revenue
A: To find : When is average revenue equal to it's marginal revenue.
Q: Last year 1000 galone of amond ma non dairy produt were soldprice of S0 Y yearabad harvestin Caomia ...
A: Given: Quantity of almond milk=1000 gallons Price=$10
Q: If the exchange rate is constant and U.S. imports increase, then in the foreign exchange market the ...
A: "Correct option is c."
Q: Question 2. Let p(t) represent the consumer price index at any given point in time. The change of th...
A: Change in price index: p. = 2+3t + 0.5it p0 =100
Q: Discuss how race, citizenship, and gender intersect with economics and those intersections affect pe...
A: In communism and communist type of government, there is complete control and rule of government over...
Q: omplete Table 1. Summarize your calculations and use Microsoft Excel. Using Excel, draw one graph sh...
A: Solution(1):- The complete table is as shown below Output Average Fixed cost Average Variable Co...
Q: Depreciation is the additional capital stock in a year. the amount of decline in business inver the ...
A: Depreciation refers to a process of asset valuation and due to depreciation, the revenue produced by...
Q: Exchange Rate Determination - Short v. Long Run The nominal money demand for the US is given by the ...
A: Given information Interest rate in US=5.263% Calculated value from part Vi) Demand for Bond Q=100-5P...
Q: Rizal’s abandonment of assimilation. What led to Rizal’s shift in ideology? Was this shift justifiab...
A: Jose Rizal, also known as Jose Protasio Rizal Mercado y Alonso Rialonda, was a Filipino nationalist,...
Q: why is the economy not self-correcting? What can be done about it?
A: The principle that if economy is left to its own devices is called self-correcting. When an economy ...
46.
Step by step
Solved in 2 steps
- ASK YOUR TEACHER The function gives the weekly profit, in thousand dollars, that an airine makes on its fights from Boston to Washington DC when the ticket price spelers 2nterpret the f () (60)-S When the ticket price is s (b) (60)-4.5 When the ticket price is s () (90)--2 [SA When the ticket price is s the weekly profit to the airline on fights from Boston to Washington is s MY NOTES the weekdy profit to the airtine on fights from Boston to Washington is by the weekly profit to the airine on fights from Bestion to Washington bedby100 90 80 70 60 ATC 50 40 30 20 AVC МС О 10 + 0 0 5 10 15 20 30 35 40 45 50 QUANTITY (Thousands of shirts) or each price in the following table, use the graph to determine the number of shirts this firm would produce in order to maximize its profit. Assume hat when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero shirts and the profit-maximizing uantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will nake a profit, suffer a loss, or break even at each price. Price Quantity (Dollars per shirt) (Shirts) Profit or Loss? Produce or Shut Down? Shut down 10 20,000 Loss Shut down 20 10,000 Loss Shut down 32 5,000 Loss Either 0 or 37,500 Shut down 40 Loss 25 COSTS (Dollars)A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…
- A firms marginal cost curve above the average variable cost curve is equal to the films individual supply curve. This means that every time a firm receives a price from the market it will be willing to supply the amount of output where the price equals marginal cost. What happens to the films individual supply curve if marginal costs increase?Gater Tools, a profit-maximizing firm, has a patent on a power tool, making it the only producer of that power tool. Thegraph above shows GaterTools' demand, marginal revenue, average total cost, average variable cost, and marginal costcurves.(a) Calculate GaterTools' total revenue if the firm produces the allocatively efficient quantity. Show your work.(b) Starting at a price of $12, if GaterTools were to increase the price by 4%, will the quantity demanded decrease bymore than 4%, less than 4%, or exactly 4%? Explain.(c) At a quantity of 10 units, is GaterTools' marginal product increasing, decreasing, or constant? Explain. (f) Does GaterTools have a dominant strategy? Explain using numbers from the payoff matrix.(g) Identify the Nash equilibrium. Explain why this is a Nash equilibrium using information from the payoff matrix.(h) Suppose HandyBilt makes a credible commitment to GaterTools that if GaterTools maintains its price, then HandyBiltwill pay GaterTools $250. Will this offer…2:34 PM A A O D 2 B/s Ee com Sr Rebecca Rashid QUESTToday, 12:02 PM A firm has the following total cost function TC = 120 + 50g - 10q2 + q° Find the equations for a) Total Variable Cost b) Average Variable Cost c) Marginal Cost XQUESTION THREE Mary's utility is given by the following Cobb-Dougias functic U = VX. Y. You are further told thai X and Y represent bread a) Write down Mary's constraint. b) Set ap the Lagrangian expression for Mary. c) Find the maximising quantities of bread (X) and sausa d) Show that the demand obtained in (C) above have neg c) Derive the Indirect utility function. f) Derive the Expenditure function. g) Given that the price of bread (X) is K25 and sausage is K2000. Find Mary's maximum utility. ...
- A7 You are the manager of a bakery that produces and packages gourmet muffins, and you currently sell muffins in packages of 3. A consultant’s report has estimated the (inverse) demand of a typical consumer to: P = 3 − 0.5Q If your cost of producing bran muffins is C(Q) = Q: (a) What is the marginal cost of muffins? (b) Draw the demand and marginal cost on a diagram. (c) Determine the optimal number of muffins to sell in a single package. (d) What price should the firm charge for each park?The graph at right shows that the marginal response of cost to the production of skates is A. minimized at point B. O B. constant as production increases. O C. greatest at point A. O D. declining as production increases. O E. increasing as production increases. Costs of Production A B Hockey Skates Produced, QollingOnelED.. App Inventor Tic Ta... Calendly-Kathryn.. eaaesID JO Ə V Diane owns a store that sells computers. Her profit, in dollars, is represented by the function P(x) = x - 22x2 - 240x, where x is the number of computers sold. Part A: Diane hopes to make a profit of at least $10,000 by the time she sells 36 computers. Explain whether or not Diane will meet her goal. Justify your reasoning. Part B: Diane states that there are three possible values of x for which she will have a profit of$0. Find the values of x that produce a zero profit to show whether Diane is correct or not. Justify your reasoning.
- For many decades, the Royal Mail had a legal monopoly in the U.K. Companies in thepostal business have increasing returns to scale, then constant returns to scale, andthen decreasing returns to scale. The Royal Mail’s minimum average cost is £2 at 100million deliveries and its minimum marginal cost is £1 at 75 million deliveries.The demand for postage is zero at a price of £10, and demand is 300 milliondeliveries at a price of £0. Marginal revenue is zero at a price of £10 and 150 at aprice of £0.Note: Unless otherwise stated, the numerical answers in this question do not need tobe exact but should correspond to how you have drawn your graph. (a) Draw a large graph showing the Royal Mail’s average cost curve and itsmarginal cost curve. Show how many deliveries would be made, and at whatprice, if Royal Mail operated as a monopoly. Show the Royal Mail’s profit orloss on the graph.For many decades, the Royal Mail had a legal monopoly in the U.K. Companies in thepostal business have increasing returns to scale, then constant returns to scale, andthen decreasing returns to scale. The Royal Mail’s minimum average cost is £2 at 100million deliveries and its minimum marginal cost is £1 at 75 million deliveries.The demand for postage is zero at a price of £10, and demand is 300 milliondeliveries at a price of £0. Marginal revenue is zero at a price of £10 and 150 at aprice of £0.Note: Unless otherwise stated, the numerical answers in this question do not need tobe exact but should correspond to how you have drawn your graph. (a) Draw a large graph showing the Royal Mail’s average cost curve and itsmarginal cost curve. Show how many deliveries would be made, and at whatprice, if Royal Mail operated as a monopoly. Show the Royal Mail’s profit orloss on the graph. (b) The government makes a law restricting the price of postage to £1. Show theeffect of this policy in the…For many decades, the Royal Mail had a legal monopoly in the U.K. Companies in thepostal business have increasing returns to scale, then constant returns to scale, andthen decreasing returns to scale. The Royal Mail’s minimum average cost is £2 at 100million deliveries and its minimum marginal cost is £1 at 75 million deliveries.The demand for postage is zero at a price of £10, and demand is 300 milliondeliveries at a price of £0. Marginal revenue is zero at a price of £10 and 150 at aprice of £0.Note: Unless otherwise stated, the numerical answers in this question do not need tobe exact but should correspond to how you have drawn your graph. New technology changes delivery firms’ technology. Now, the minimumaverage cost is £2 at 1 million deliveries and a minimum marginal cost of £1at 0.75 million deliveries. The government removes all price restrictions andallows free entry. Describe the long-term outcome for this market, using twographs, one at the firm-level and one at the…