Assume a demand equation Q -0.1p -P 001p, 0.0001Y and a supply equation Q,0.1p - 0.02p,• 0.01N + 0.01T - 0.tw where Pprice of the good Pprice price Yconsumer income $20.000 Qquantity in thousands of units A price of an input$450 N number of fms 700 T-ndex of technology 300 wwwage rate$10 complement $3 substitute $200 If the price is $45, there will be an thousand units

Q: major tools used for industrial analysis?

A: Industry analysis is a market assessment tool used by businesses and analysts to understand the…

Q: Calculate the value of total cost if average cost is $42 and total units is 5

A: In the above given question, we are given with the values of average cost and total units as:-…

Q: This does not solve for the Present Worth of Costs

A: Two design alternatives: 1) Steel Girder 2) Concrete Girder Initial cost of Steel Girder = $2.25…

Q: Labor (workers/day) Output (units/day) Total fixed cost ($/day) Total variable cost ($/day) Total…

A: Total cost is the sum of fixed cost and variable cost.  Fixed cost are the cost that is fixed and…

Q: Sharing contracts in franchising is when The franchisor pays a fixed franchisor fee The franchisor…

A: ​D is correct answer. - ​The franchise gets to share the franchise fee with other restaurants.​An…

Q: A cell phone plan has a basic charge of $35 a month. The plan includes 400 free minutes and charges…

A: Given: The charge of a cell phone is = $35 a month Plan includes = 400 free minutes Charges for each…

Q: hy is it important for managers to avoid confusing incremental costs with average costs?

A: Incremental Cost :- The incremental cost represents the cumulative amount of money spent on an extra…

Q: Someday, if you want to be an economist or to study  more about economic analysis, what platform you…

A: While studying economics, economists have the capability to reduce costs while using different…

Q: Total cost is given the be as $800 and average cost is $80 Calculate the output

A: Total cost is the sum total of fixed cost and variable cost.  Average cost is calculated by dividing…

Q: An implicit cost is another name for a(n):     Explicit cost     Production cost     Economic…

A: Option D Implicit cost is a cost to a business that occurs due to the cost of resources that were…

Q: If total cost is $100 and output is 13 units  Calculate the value of average cost

A: The given information is as follows:- Total cost of the firm = $100 Output = 13 units  We need to…

Q: Find total cost if fixed cost and variable cost are $300 and $100 respectively

A: The data presented in the question above is:- Fixed cost of firm = $300 Variable cost of firm = $100…

Q: Classify the Costs for Predicting Cost Behavior?

A: Every company incurred the costs to produce goods and services. For example labor cost, and…

Q: What is the difference between economic costs and accounting costs? Explain it in your own words and…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: What will be the value of  average cost if Total cost is $405 and the output is 30 units

A: The data presented in the question above is:- Total cost = $405  Output = 30 units  We need to find…

Q: Calculate total cost when average cost is $36 and the output is 99 units.

A: We are Given that:- Average cost of the firm = $36 Total output = 99 units. We need to calculate the…

Q: If average cost is $30 and the output is 15 units. Calculate total cost

A: (Q)If the average cost is $30 and the output is 15 units. Calculate total cost

Q: BPO Services is in the business of digitizing information from forms that are filled out by hand. In…

A: Below is the calculation of the expected cost of digitizing the form: Expected cost of digitizing…

Q: Compare Job Offers in Two Different Cities Assume you have two job offers, one in Chicago at $50,000…

A: We shall choose the project whose benefit is more than the required benefit based on the present…

Q: a) do to adjust scale? Why? b) After 3 years if the demand for your cars starts to increase how…

A: Given that economic crisis have caused the sell to decline .

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A: Two incredible powers are transforming the very nature of work: robotization and ever fiercer…

Q: How do you know if the production possibility is constant ? With only having the schedule with…

A: The curve that depicts possible bundles of two goods/services that an economy can produce with a…

Q: Write a short note on Increasing economies of scale – meaning and effect on costs

A: The production function depicts the technical association between the quantities of output (Q) that…

Q: Identify a fixed cost

A: A fixed cost is referred to as the cost which would not change due to an increase or decrease in the…

Q: If total cost is $600 and output is 10 units Calculate average cost

A: According to the above mentioned question, we have:- Total cost= $600 Output = 10 units  Average…

Q: How can we determine the Cost Basis?

A: Calculation of the cost basis of an investment shows the capital gain or loss on it. It indicates…

Q: how did you get the 6.25 labor units

A: Profit is the reward for bearing risk.  Profit is the excess of total revenue over total cost.  So ,…

Q: How low must the fixed cost be to break even?

A: Break-Even Point (sales dollars) = Fixed Costs ÷ Contribution Margin Contribution Margin = Price of…

Q: Find total cost if average cost is $31 and the output is 60 units

A: The data presented in the question above is:- Total cost is to be calculated using information given…

Q: A short production run with frequent adjustments to machines is considered a(n). process of…

A: The inputs such as capital, labour and land are used to produce and output in the market are known…

Q: Calculate variable cost if total cost is $400 and fixed cost is $120

A: The given information is as follows:- Total cost = $400  Fixed cost = $120  We need to find the…

Q: The value of average cost is $20 Calculate the value of total cost when the total units are 6 units

A: # The formula for average cost is given as:- Average cost = Total cost / Output

Q: Total cost is $615 and output is 21 units  Calculate average total cost

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Q: It costs $1,000 to produce one pill and $1,002 to produce two pills. The incremental cost of a pill…

A: In economics the incremental cost refers to an amount of money that company incures to make an extra…

Q: What are their implications for cost and return?

A: The method of directing capital among savers to organizations that require it is known as finance.

Q: Explain the Trial-and-error method?

A: Trial and error are an integral problem-solving process. It is characterized by frequent, varied…

Q: How did you arrive at the new unit productivity percentage of 17.75?

A: Introduction The productivity of a production system is similar to the efficiency of the production…

Q: True/false Variable cost changes or vary with the change in the level of output in a production…

A: Cost is an economic concept that refers to the amount of resources, including time, money, and…

Q: Why is technical writing vital in our everyday lives?

A: Technical writing is written to educate, instruct, or lead someone on how to do a task.

Q: how to calculate total cost analysis

A: Objectives to calculate total cost analysis : Understand and define the critical variable and fixed…

Q: Average cost is $100 and the output is 70 units Calculate total cost

A: The information given to us is as follows:- Average cost of the firm = $100 Output of firm = 70…

Q: what specific cost is the normal rate of return to a company?

A: Total fixed cost is the cost that is fixed and remains the same over a period of time. The total…