Instacart offers consumers a convenient form of home delivery service for groceries. Units ofoutput (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the useof delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graphto answer the question below.K16151413TT2211211109676 CO854321TrueABFalseCq=1009-501 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17LLet's say that Instacart is now operating in the long run. If it is still producing 100 units ofoutput, does Instacart's long run input mix choice help it save on its cost of producing 100deliveries, relative to the short run?

Isocost curve shows the same cost at each point on the curve. Isoquant curve shows the same amount…

Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K DHHEHH 6543N 16 15 14 13 12 11 10 9 8 7 2 1 True B False D q=100 L Let's say that Instacart is now operating in the long run. If it is still producing 100 units of output, does Instacart's long run input mix choice help it save on its cost of producing 100 deliveries, relative to the short run? q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K DHHEHH 6543N 16 15 14 13 12 11 10 9 8 7 2 1 True B False D q=100 L Let's say that Instacart is now operating in the long run. If it is still producing 100 units of output, does Instacart's long run input mix choice help it save on its cost of producing 100 deliveries, relative to the short run? q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 16 Refer to Scenario 7.4 below to answer the question(s) that follow. SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000. To start this business you invested an amount of your own capital that could pay you a $50,000 a year return. Refer to Scenario 7.4. Your economic profit last year was -$20,000. $40,000. $70,000. $90,000.
Suppose that Zamboni Enterprises is the only company that sells zambonis (ice resurfacing machines). To produce the machines, the company hires assembly workers. Since these workers can work in many different companies, Zamboni Enterprises must pay them the market wage, which is equal to $6. The number of zambonis that the company produces, which is denoted by y, is proportional to the number of assembly workers that it hires, which are denoted by N; in particular, the production function is given by y=0.76N. The economywide demand for zambonis is given by the following demand function: y=2191-219p, where y is the number of zambonis that consumers are willing to purchase at price p. Given this market structure, how many assembly workers will Zamboni Enterprises choose to hire? How many zambonis will Zamboni Enterprises produce and sell? What will be the price of a zamboni? If the market for zambonis were competitive, how many zambonis would be produced? If the market for…
Suppose that Zamboni Enterprises is the only company that sells zambonis (ice resurfacing machines). To produce the machines, the company hires assembly workers. Since these workers can work in many different companies, Zamboni Enterprises must pay them the market wage, which is equal to $6. The number of zambonis that the company produces, which is denoted by y, is proportional to the number of assembly workers that it hires, which are denoted by N; in particular, the production function is given by y=0.76N. The economywide demand for zambonis is given by the following demand function: y=2191-219p, where y is the number of zambonis that consumers are willing to purchase at price p. If the market for zambonis were competitive, how many zambonis would be produced? If the market for zambonis were competitive, how many assembly workers would be hired? If the market for zambonis were competitive, at what price would zambonis be sold?
already got a) b) c) plz answer d) e) f)!!
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Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 7 6 5 4 32 1 A B q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Long Run Total Cost Curve L Let's say you drew a curve that passed through all of the long run cost minimizing input mixes associated with each of Instacart's isoquants. What is the name of this curve? O Input Expansion Curve C Output Expansion Curve q=100 O Short Run Firm Supply Curve
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