MC ATC „AVC -P- MR - AR Quantity (firm) Refer to Exhibit 12-6. What would be the area of total cost if the firm maximized profits/minimized losses? О а. ОФАР. O b. OP, Bq. c. PAB P1. O d. none of the above Price
Q: Which of the following statement(s) is/are TRUE? I. The US dollar, the XCD dollar and the British…
A: Exchange rate is the price of one currency in terms of another currency and it is important in…
Q: 3. The quantity demanded of good X rises from 130 to 145 units as income rises from $2,000 to…
A: Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product…
Q: The table given below reports the value of sales at each stage of production of an economics book.…
A: Value-added method of calculating GDP GDP measures the market value of final goods and services…
Q: 6.Fed is split over time of rate rise In October 2009, the Fed was forecasting that unemployment…
A: The answer is as follows:-
Q: (C). Similarity of economic structure, and composition of output, tends to reduce the economic…
A: In an economy, joining a currency union implies monetary union agreement with some other countries.
Q: Wu's job pays $17/hour, and requires him to be at work at least 29 hours/week. He is allowed to work…
A: Given: Payment per hour=$17 Minimum work hours=$29 per week Weekly endowment=$163
Q: A borrowed P750, 000 from a credit union to purchase a used car. The interest rate on the loan is…
A:
Q: Suppose you take a 15-year mortgage for a house that costs $208,556. Assume the following: • The…
A: Annual interest rate (r) = 3.9% Minimum down payment = 10% of 208,556 =10100×208,556=20,855.6…
Q: 1. Suppose a constant cost, perfectly competitive industry is composed of identical fims where the…
A: Introduction We have given a perfectly competitive industry. a) Supply of the firm is given as: SC…
Q: n asset that is book-depreciated over a 5-year period by the straight line method has C3 = P…
A: Depreciation charge per year = P1,170,000 Life of asset = 5 years Book value after 3 year =…
Q: When a foreign supplier tries to "dump" goods into another country in order to gain a foothold in a…
A: here we find the correct option of the following as follow
Q: Consider the game shown below. In this game, players 1 and 2 must move at the same time without…
A: In the mentioned question we have been asked the best payoff where both will get their best.
Q: The following are steps in the ‘Participation Ladder’, except: a. Functional participation b.…
A: The Ladder of Citizen participation was proposed in 1969 by Sherry Arnstein and is a widely…
Q: If ARORA-B =8%, which is > MARR of 6%, then we will keep project A and drop project B, even though…
A: The statement of - TRUE
Q: he table given below reports the value of different economic variables of a country during a year.…
A: Answer: Gross investment; gross investment is the sum of net investment and depreciation.…
Q: 1. Use the following information from a fictional economy: Consumption, C = 250 + 0.8 Yd Investment,…
A: NOTE: As per Bartleby Guidelines, handwritten solutions are not allowed.
Q: Figure 2.12 b d y (Figure 2.12) Suppose the y axis of this graph represents consumer goods and the x…
A: Here, the given graph shows the production function with consumer good on Y-axis and capital good on…
Q: The following table shows the outputs and prices of three products produced by an economy in 2018,…
A: When GDP is measured at current prices, it is referred to as nominal GDP. To calculate the Nominal…
Q: We define a monopoly as a market with A) one supplier and no barriers to entry. B) many suppliers…
A: A monopoly is when one supplier holds a dominant position in an industry or sector to the extent of…
Q: 4. An individual has an object that is of no value to him. The individual wants to sell the object…
A: Answer - Second price Auction - Second price auction are the auction where the winner of the auction…
Q: If the government decreases taxes this will shift the aggregate demand curve by than a change in…
A: The tax multiplier measures the effect of change in taxes on equilibrium GDP The government spending…
Q: Consider the U.S.’s government deficit. Recently (perhaps excluding 2020 and government spending in…
A: Generally a government deficit can be defined as the shortfall in government's income compared with…
Q: Price Level AS P1 P2 AD AD'
A: Aggregate demand is the sum of consumption, investment, government purchases, and net exports.…
Q: Consumption expenditure: Investment expenditure: C = 100 +0.8 Yª I= 120 - 500I Lump-sum taxes: T=150…
A: Equilibrium in the economy reaches where goods market and money market are in equilibrium. For goods…
Q: Suppose the economy is in a long-run equilibrium. There is a simultaneous increase in the money…
A: AD-AS model determines the equilibrium level of real GDP with the price level in the economy.
Q: Under Bertrand competition, O the Nash equilibrium is marginal cost pricing (the perfectly…
A: Nash equilibrium refers to a set of strategies where no player has any incentive to deviate from its…
Q: Alice's discretionary income grows by $1,000, of which she spends $600. b.)Alice's MPS is 0.4,…
A: Marginal propensity to consume is the ratio of change in consumption and change in income. On the…
Q: 1. Use the following information from a fictional economy: Consumption, C= 250 + 0.8 Yd Investment,…
A: "As per the guidelines solution is provided to the first three sub parts of the question." "GDP…
Q: The distribution of income is ultimately determined by (a) the distribution of the ownership of the…
A:
Q: A local company assembling stereo radio cassette produces 312 units per month at a cost of Php 800…
A:
Q: Consider a Cournot duopoly model, where two firms compete by providing identical goods. The demand…
A: Firm 2 has 2 marginal cost where mC=2 is low marginal cost and mC=4 is the high marginal cost. This…
Q: A machinery supplier is offering a certain machinery on a 10% down payment and the balance payable…
A: Annual Equivalent Rate or AER refers to the interest rate applicable for a savings account or the…
Q: True or false question below. In the United States, the Federal Deposit Insurance Corporation…
A: Federal Deposit Insurance Corporation, is an agency created in 1933 after great depression to…
Q: Closing educational gender gap is broadly considered as economically desirable since ________. a.…
A: Answer -
Q: 1. Higher level of per capita income is connected/correlated to lower numbers of the absolutely…
A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…
Q: These are true or false. Need help with both please. The basic quantity equation of money is MV =…
A: The basic quantity equation of money indicates money supply in an economy is proportional to the…
Q: Which of these is true about the Lorenz curve? a. allows us to rank all countries by the degree of…
A: In economics, there are different concepts used to explain or show the nature of economic variables,…
Q: The short run aggragate supply curve slopes_______ showing a _____________ relationship between…
A: PLEASE FIND THE ANSWER BELOW. Aggregate supply: Aggregate supply, also known as total output, is…
Q: If the cost of health and personal care increases by 20 percent, then, other things the same, how…
A: The consumer price index (CPI) basically measure changes in the prices of goods and services…
Q: The table given below reports the price of soda over four consecutive years. Table 5.7 Price Data…
A: PLEASE FIND THE ANSWER BELOW. PRICE INDEX: The price index, a measure of relative price changes,…
Q: (B). Diagram 2: The DD -AA model Exchange rate, E DD E AA Output, Y Use the DD-AA model to compare…
A: The correct answer is given in the second step.
Q: 6. Suppose that you have the data for the three firms below. What is HHI in this case? Firm Sale 500…
A: HHI=∑1NFi2Where, HHI=Herfindahl–Hirschman indexand, F= Number of firms
Q: Mark sold his house. In addition to cash, he took a mortgage on the house. The mortgage will be paid…
A: Monthly payments of P12, 345, for 10 years interest rate = 1% time in months = 10*12 = 120 months
Q: What are impact of public debt and expenditure on resource allocation and national income? Justify…
A: The value of products and services generated by a country throughout a financial year is referred to…
Q: The aggregate expenditure function in a simple macroeconomic model with a close economy and no…
A: Generally, the equation of aggregate expenditure in an open economy is: AE = C + I + G + NX. here, C…
Q: If you have an idea of a product, a process or a service that you think will be in demand,…
A: In a market, an individual wants to operate a business with having an idea, process, and strategy…
Q: 1. A college raises its annual tuition from $23,000 to $24,000, and its student enrollment falls…
A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…
Q: has the greatest advantage of lower cost labor, regional suppliers, and local knowledge when making…
A: A strategy where greatest advantage of lower-cost labor, regional suppliers, and local knowledge is…
Q: An investor invests the following amounts of money in a bank account: R18,850 on 1 September 2019 ,…
A: An annuity is a yearly payment, like one delivered under a contract to produce retirement income,…
Q: What is the name given to the value that laborers produce but are not paid for, that is instead…
A: Labor cost is the complete of wages, advantages, and finance charges paid to and for all…
Step by step
Solved in 2 steps
- A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.What two lines on a cost curve diagram intersect at the zero-profit point?competitive market. If the market price is $30 and if the fitm is producing output, what is the amount of its total vanable cost? 15. The ngure below shows the cost curves for a profit-maxintizing firm in a periecuy Price TVC and cost TC.FTC AY83 MC ATC AVC TVに $40 50 36.00 30.00 MR 22.00 20.00
- Charlie Co. sells pastries and its production and cost table is given below. A workercosts $100 a day, the firm has fixed costs of $200.L Q MP MC TC ATC0 01 202 503 904 1205 1406 1507 155a. Complete the table above [7 marks]b. Compare the average total cost and the marginal cost and explain therelationship [3 marks]c. Describe the methods that can be used to determine where profit is maximized?[3 marks]the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows Q TVC TC MC P TR MR 0 0 150 0 200 0 - 1 110 C 110 175 175 175 2 170 320 G 150 I L 3 A D 46 135 405 105 4 250 E 34 120 J M 5 B 445 H 105 525 45 360 F 65 90 K N (a) what is the fixed cost of the firm? Explain your answer (b) determine the values from A-M by showing all workings employed (c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answerDanilo and his wife operate a restaurant where they sell all their meals for $14.00 each. The markup on each meal is $5.00 and overhead expenses are 19.00% of cost. a. How much does it cost them to make each meal? $0.00 Round to the nearest cent b. What is their operating profit per meal? 50.00 Round to the nearest cent c. Calculate the break-even price. Round lo the nerert rent
- A computer company produces affordable, easyto-use home computer systems and has fixed costs of$250. The marginal cost of producing computers is $700for the first computer, $250 for the second, $300 for thethird, $350 for the fourth, $400 for the fifth, $450 for thesixth, and $500 for the seventh.a. Create a table that shows the company’s output,total cost, marginal cost, average cost, variablecost, and average variable cost.b. At what price is the zero-profit point? At whatprice is the shutdown point?c. If the company sells the computers for $500, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.d. If the firm sells the computers for $300, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.student uae.examus.net CONTO1 FEX 2021 2 Male arguS producing a quantity of 20 units. The market price is $17. The firm's variable cost is $60 and its et is $50. What is the firm's total revenue? 15-40 1860 3340. $50. 9500471d7b8 644768 $110. 95d6477b8 95d647fd768 58047fd768 eSc MacBook Pro FI F3 888 F4 $ 5 0 E R T Y .. A を D S G 95d647fdxb8Question 4Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a day, the firm has fixed costs of $200.L Q MP MC TC ATC0 01 202 503 904 1205 1406 1507 155a. Complete the table above b. Compare the average total cost and the marginal cost and explain therelationship c. Describe the methods that can be used to determine where profit is maximized?
- Ajumbo jet carrying 400 passengers is priced higher than a 250-passenger model even though both aircraft cost the same to manufacture. Compared to the 250-passenger model, the jumbo jet carrying 400 passengers O A. has a higher marginal revenue product because it's marginal product is smaller. O B. has a higher marginal revenue product because the marginal revenue from an additional ticket for a seat on one of its flights is higher. O C. has a lower marginal revenue product because it's average cost per seat is lower. O D. has a higher marginal revenue product because it's marginal product is larger. O E. has a higher marginal revenue product because the marginal revenue from an additional ticket for a seat on one of its flights is lower.A special shoe manufacturer ABC Co. has costs of production as follows and solve all the subparts: Quantity 0 1 2 3 4 5 6 Total Variable Cost ($) 0 50 70 90 140 200 360 a. ABC Co.’s fixed costs are $100. Calculate average fixed costs, average variable costs, average total costs and marginal costs at each level of production. b. Draw the company’s cost curves in a clearly labelled graph. c. The price of ABC shoe is $50. What are the company’s profits? In case of loss, should the CEO continue operations or decide to shut-down? Which would be a wise decision? Explain. d. The chief financial officer tells the CEO that it’s better to produce only one shoe this month. What could be the reason for this advice by the CFO? What are the firm’s profits at that level of production? Is this the best decision? Explain.Under which of the folowing examples is t likaly that the accounting profit is positive and the economic profit is negative? OA Using a restaurant you purchased to sell Menican food instead of talian food. OR It you use a diamond mine as a touriet atraction instead of using it for mining. Oc Opering a bank branch near a university campus. OD. Such a scenario, where accounting cost is positive and economic profit is negafive, is not possibie.