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- You are the owner and only employee of a company that sets odds for sporting events. Last year you earned a total revenue of $100,000. Your costs for rent and supplies were $50,000. To start this business you invested an amount of your own capital that could pay you a return of $20,000 a year. Your economic profit last year was O $50,000 O $60,000 O $10,000 O $30,00049Yulia's annual demand for home-delivered coffee beans is given by MWTP(Q) = 500 - 5xQ, where Q is measured in kilograms of beans. In order to use the only delivery service available in Odesa, she must pay an annual membership fee, and then she pays 2400 for each kilogram purchased in that period. What is the largest membership fee Yulia is willing to pay? O 29000 O 28000 O 22000 O 21000 O None of the above.
- Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one more worker, the firm’s total monthly revenue will increase from $50,000 to $58,000. If he adds one more tractor, monthly revenue will increase from $50,000 to $62,000. Each additional worker costs $4,000 per month, while an additional tractor would also cost $4,000 per month. LO16.5 a. What is the marginal product of labor? The marginal product of capital? b. What is the ratio of the marginal product of labor to the price of labor (MPL/PL)? What is the ratio of the marginal product of capital to the price of capital (MPK/PK)? c. Is the firm using the least-costly combination of inputs? d. Does adding an additional worker or adding an additional tractor yield a larger increase in total revenue for each dollar spent?4. A decision at the margin Megan is a hard-working college sophomore. One Thursday, she decides to work nonstop until she has answered 200 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 80 140 180 200 Use the table to answer the following questions. The marginal, or additional, gain from Megan's first hour of work, from 8:00 AM to 9:00 AM, is The marginal gain from Megan's third hour of work, from 10:00 AM to 11:00 AM, is problems. problems. Later, the teaching assistant in Megan's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 70 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of…23
- 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 working6. Critical analysis Q13 Gouge-em Cable Company is the only cable television service company licensed to operate in Backwater County. Most of its costs are access fees and maintenance expenses. These fixed costs total $640,000 monthly. The marginal cost of adding another subscriber to its system is constant at $2 per month. Gouge-em's demand curve can be determined from the data in the accompanying table. Complete the following table by computing the total revenue, total cost, and profit at each of the various subscription prices. Number of Subscribers Subscription Price (Thousands Per Month) Total Revenue ($, Thousands) Fixed Cost ($, Thousands) Total Cost ($, Thousands) $640 $640 $640 $640 $640 $640 $25 20 15 10 5 1 20 40 60 80 100 150 $ $ $ $ $ $ |$ $ $ $ Profit ($, Thousands) $ $ $ S $Brewed coffee is one of the most popular drinks in the world and a big market in Singapore. In recentyears Singaporean consumers have become concerned that coffee farmers often receive very lowprices by large coffee companies buying their beans and selling them in international markets. Forthis reason, fair trade coffee has reached supermarket shelves and coffee shops. Because producingfair trade coffee includes providing extra income for the farmers, this product is more costly to makethan other coffee types of comparable quality. Using the demand-supply model, analyse this changein consumer preferences. Examine the likely consequences in one or two markets of your choice. Limits 500 words
