Christina runs an IT consulting firm in a competitive market. She recently determined that hiring anadditional consultant would mean that she wouldbe able to serve five more clients per week. Assuming her goal is to maximize her profits, explain whyChristina did not hire another consultant.

Q: Charles Lackey operates a bakery in Idaho​ Falls, Idaho. Because of its excellent product and…

A: The current output/month= 1800 The current labor input/month= 8×640$=5120$ The current capital…

Q: Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $175,000 in total…

A: Accounting profit refers to the net  profit which is earned by individual or firm in a period of…

Q: Alex runs a snowboard rental business that charges $12 per snowboard and averages 36 rentals per…

A: A firm incurs two types of costs:-Fixed costs and variable cost. In case of fixed costs like land,…

Q: Explain how to figure out the number of tubes each company would need to manufacture and sell to…

A: The term "manufacturing" basically refers to the process of transforming raw materials or component…

Q: Blake decides to spend a spring day in the field planting wheat with some help from some workers he…

A: The Accounting profits is calculated as Total Revenues - Total cost (explicit cost) being incurred…

Q: Sarah is planning to start her own cake shop. The cost of making a cake is RM13 each and they are…

A: GIVEN   Sarah is planning to start her own cake shop. The cost of making a cake is RM13 each and…

Q: MC ATC AVC D=MR Based on the graph above, the firm is earning:

A: This decrease in price results in a decrease within the firm's revenue, so within the long-run,…

Q: For the pizza seller whose marginal, average variable, and average total cost curves are shown in…

A: Economics is a social science that studies how individuals, businesses, governments, and societies…

Q: Explain Market pain.  Provide an example of a product that solves market pain.

A: Business specialists and investors allude to showcasing "torments" as a condition of occasions where…

Q: Arnie Armstrong has been with Pierce Auto Parts Manufacturing Company for 23 years. Recently, he was…

A: Ethical type  Economy portrays the hypothesis of the Ethical preconditions of the economy and of…

Q: Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm's…

A: Marginal product of labor refers to an addition to the total product when the firm employing one…

Q: You have decided to open a coffee shop in San Bernardino. While there is a lot of competition (i.e.…

A: In a perfectly competitive market, coffees are sold at $3 per unit with the implementation of the…

Q: Harish currently owns an apricot farm which in the past has been highly profitable with revenues of…

A: Accounting profit is the profit calculated by subtracting explicit, out-of-pocket costs and…

Q: In 1924, Kleenex tissue was invented as a means to remove cold cream. The product was initially…

A: In a market, if there are no competing firms, the firm selling a standalone product or service is…

Q: Which of the costs discussed in the chapter is the most important when a firm is deciding how much…

A: The analysis of all costs is necessary for a firm. But analyzing marginal cost is most important.…

Q: A brand that has experienced an ethical crisis is Victoria's Secret. They have sweatshops in Sri…

A: Economic analysis refers to the systematic approach used to examine how scarce resources are…

Q: Consider a firm that has two types of employees in their marketing department with the following…

A: Following are the issues with each kind of workers as far as bonus 1. Sales staff-They are paid…

Q: Corinne is offered a job with a salary of $70,000, which she turns down to start her own business.…

A: There are two types of profit: Economic Profit Accounting Profit The economic profit can be…

Q: Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm's…

A: Marginal product of labor of the third unit would be the difference between the total product before…

Q: G) At what positive level of Q is marginal profit maximized?  You found the profit function in (e)…

A: The demand function: Short run total cost is given by      The inverse demand equation or price…

Q: What incentive compensation needed by employees to remain competitive within the industry?

A: The reward in the form of cash paid to employees for the service that they provide is defined as…

Q: 19.5 (0) A profit-maximizing firm produces one output, y, and uses one input, r, to produce it. The…

A: Given:

Q: please answer in text form and in proper format answer with must explanation , calculation for each…

A: InterpretationIn this case, the marginal revenue (MR) stays fixed at $5 per unit over the whole…

Q: calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal…

A: Total Revenue is the value of earnings of the firm on question. It is the product of price charged…

Q: Blake decides to spend a spring day in the field planting wheat with some help from some workers he…

A: The accounting profit is the profit which is represented on the income statement of the company. The…

Q: However, Kenji's decision regarding how many workers to use can vary from week to week because his…

A: Total fixed costs are the total obligations of the firm per time period for all fixed inputs.  Total…

Q: The blue curve on the following graph represents the demand curve facing a firm that can set its own…

A: Total revenue in economics means the total amount of money earned by a firm from the sale of its…

Q: You are the manager of a train company. Recently total sales have been a bit low and you are now…

A: 1.Because concerned company is price maker,therefore it can lower the price and let demand behave as…