Q: 5. What is the Demand Function? 6. What is the Supply Function? 7. What is the Equilibrium Point?
A: To find the demand function, we substitute the quantity and price values in the standard form of the…
Q: Q2. Assume that a Kia automobiles dealership in Mehrauli, Gurugram transshipped 300 Kia Sonet cars…
A: Expenditure method of GDP : Y = C + I + G + ( X- M) A) In September 300 Kia each worth 13 lakh was…
Q: What is important for the retailers to consider in the selection of target market? a. Degree of…
A: The retailers in the market are considered as the sole providers of the products to the consumers…
Q: Q 4. ( A) Consider the following production functions: are products and xy is the use of input i in…
A: We are given 2 production functions, where input x is used in producing both Y1 and Y2 Y1= 2x1 Y2=…
Q: Flat Screen Televisions Lose $126 per Unit Sold: Sony Corporation Most of the cost of a flat screen…
A: Managerial economy is a discipline of political economy involved with the employment of economic…
Q: Kate quit her job, where she earned $120,000 per year, to start her own financial consulting firm.…
A: In economics, profit is the difference between the revenue that an economic entity has received from…
Q: A coal-fired power plant can produce electricity at a variable cost of 4 cents per kilowatt hour…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Problem 3: The following is an excerpt from an article published on October 9, 2015by the Wall…
A: To begin with, elasticity of demand measures how sensitive the quantity demanded of a good is to…
Q: Find TC, AFC, AVC, AC, and MC from the followin able: (LO11-3) Units EC
A: Find TC, AFC, AVC, AC, and MC from the following table:
Q: Briley Cosmetics manufactures and distributes a wide range of skin care products. A recent order has…
A: Given: The quantity orders received of face cream = 10,000 The quantity orders received of body…
Q: Suppose that you are the manager of a studio cafe, and you are planning to invest on a new camera…
A: To find incremental revenue and cost, we subtract Current revenue and cost from Projected revenue…
Q: Assume that a national restaurant chain called BBQ builds 10 new restaurants at a cost of $1 million…
A: The act of investment(I) is the distribution of resources, usually monetary, with the hope of…
Q: The Return of Detroit City: Enpar manufactures engine parts for Ford using steel as an input. Enpar…
A: Given information: Enpar manufactures engine parts. It operates two plants, one in Detroit and…
Q: Please provide the correct answer. Thank you!
A: Explicit costs are clear, measurable expenses involving direct monetary transactions, such as rent…
Q: Little's Law: An electronics retailer tries to keep inventory levels low so that they can avoid…
A: Inventory refers to the stock of current assets of a company that is kept by a producer to sell them…
Q: For several years, a large U.S. gift retailer has been purchasing a pen-and-pencil set from an…
A: Regression analysis is a powerful statistical technique used to explore the relationships between…
Q: The following process is used to assemble bicycles. The process is fully automated, and the capacity…
A: Process capacity is commonly represented in "hours" and refers to the output capacity of employees…
Q: Ellen is currently deciding how to invest $100,000. One option would be to invest in Golden Oaks…
A: To find the expected value of perfect information (EVPI), we first need to calculate the expected…
Q: Calculate the cross price elasticity of product ( C ) compared to ( B ). State the type of relation…
A: "Since you have asked multiple questions, we will answer first questions for you. If you have any…
Q: The table below shows some of the costs incurred at Barb's Bakery. Complete the boxes in the table.…
A: L: This likely stands for "Labor," representing the input of labor used in the production…
Q: 45 Profit or Loss 40 35 30 ATC 25 20 15 10 AVC 5. MO + 4 8 12 QUANTITY OF OUTPUT (Shirts) 16 20 24…
A: In a competitive firm there are large number off firms selling identical products thus they are…
Q: Using the data above, graph properly and with proper labels the Market Equilibrium of Lito…
A: Equilibrium occurs at such a price where the quantity demanded equals the quantity supplied.
Q: 1. Definition of economic costs Eric lives in San Francisco and runs a business that sells pianos.…
A: Definition of explicit cost : The costs which are directly incurred on the factors of production or…
Q: 8s.1 A city is trying to decide whether to build a parking garage. An engineering plan calculates…
A: Present worth can be calculated as : P = A1+in-1i1+in Here, A = annual payment n = no. of years I =…
Q: Requirement 1. Prepare a perpetual inventory record for the watches on the average cost basis to…
A: A perpetual inventory record, also known as a perpetual inventory system or inventory management, is…
Q: Suppose the consumer's wage is w = 16 but the government imposes income taxes. Specifically, the…
A: We know, N=160/w If, w=16 N=160/16 = 10 hours of leisure Consume = 24-10 = 14 hours
Q: If the demand for chapati is elastic then a decrease in the price of chapati will: (a) Incresase…
A: Price elasticity of demand measures the responsiveness of quantity demanded for a good due to…
Q: Kenji lives in New York City and runs a business that sells guitars. In an average year, he receives…
A: The difference between total sales and total economic costs is known as economic profit. The…
Q: The Return of Detroit City: Enpar manufactures engine parts for Ford using steel as an input. Enpar…
A: Answer: Given, Production functions: Detroit:QD=12SD-0.25SD2QG=42SG-0.5SG2WhereQD=Outputs of engine…
Q: a Suppose that we have the following data for Amazon operations in the US: Sales Cost of Goods…
A: The Gross Domestic Product (GDP) is the measurement of the monetary value of all the final goods and…
Q: Hey! Need help with the following macro question, thank you in advance! (chart attatched below)…
A: The additional income produced by adding one more unit of labor is measured by the marginal revenue…
Q: Table 11.5 Units of Variable Resource Total Product Product Price ($) 0 0 22 1 15…
A: We are going to calculate Marginal Revenue Product of labour to answer this question.
Q: QUESTION 4 Suppose a department store has two major departments: furniture and clothing. Due to…
A: Explicit cost is the cost which is actually incurred by the firm, during production. The firm adds…
Q: Short analysis about Tesla Inc. in 2018?
A: Tesla Motors was formed in Silicon Valley in 2003 by a group of engineers, including the…
Q: Kate quit her job, where she earned $120,000 per year, to start her own financial consulting firm.…
A: Economic profit is a metric used to assess a company's overall financial performance after deducting…
Q: Donny, of Donny's Doughnuts, bakes and sells 100 dozen doughnuts a day using one mixer and one…
A: Both the firms produce the same products and the exact same machinery as well as method of…
Q: In the island nation of Autarka, cardboard boxes are manufactured by four rms: Andrew's Industries,…
A: Four firms in a market: Andrew's Industries, Brett's Boxes, Carla's Cardboard, and Delia's Durables…
Q: III. PROBLEM SOLVING: Lino Batumbakal is now exploring the option to start selling beef wellington.…
A: Given below is the solution for 1, 2, 3 and 4.
Q: affiliates in the course of business. The company has determined that on average a remittance from…
A: International fund transfers are started in one nation and get comfortable another. Shippers should…
Q: Suppose you are considering whether to purchase a house off of Lake Erie for $400,000. You expect…
A: The money that is left over after all costs have been deducted from the entire amount of revenue is…
Q: 3.1. DRAM factory. You own and operate a facility located in Taiwan that manufac- tures 64-megabit…
A: The originally spent $5 million for the land, plant, and equipment is sunk cost and therefore is not…
Q: A breeder tells you he has determined for each 1-lb increase in weaning weight profit increases by…
A: GIVEN A breeder tells you he has determined for each 1-1b increase in weaning weight profit…
Q: Announcing in his Budget 2023 speech on Tuesday, Deputy Prime Minister and Finance Minister Lawrence…
A: In this question, we are presented with a news article regarding the announcement of an additional…
Step by step
Solved in 4 steps with 4 images
- Bob lives in Toronto and runs a business that sells guitars. In an average year, he receives $701,000 from selling guitars. Of this sales revenue, he must pay the manufacturer a wholesale cost of $420,000; he also pays wages and utility bills totalling $247,000. He owns his show room; if he chooses to rent it out, he will receive $9,000 in rent per year. Assume that the value of this show room does not depreciate over the year. Also, if Bob does not operate this guitar business, he can work as a financial advisor, receive an annual salary of $32,000 with no additional monetary costs, and rent out his show room at the $9,000 per year rate. No other costs are incurred in running this guitar business.Kendall is a successful data analyst working at Amazon. She had one passion for all these years, she loves organizing parties. She decides to quit her job that she was making $150,000 per year, and uses her $200,000 savings, on which she was earning 10 percent annual return, to start her own business. In the first year, she earns revenue of $500,000, and her costs are as follows: Lease $50,000 Utilities $8,000 Wages $32,000 Materials $26,000 Food/Beverage $50,000 a. What is Kendall’s accounting profit? b. What is Kendall’s economic profit?Quiz 2 (page 3 of 10)- Google Chrome eleaming.yu.edu.jo/class/mod/quiz/attempt.php?attempt3D284915&cmid3D153872&page=D2 Yarmouk University ش1 )105 ECON( مبادئ في الإقتصاد الرياضي Question 3 The overall percentage change of an increase by 40% followed by a decrease of 30% is Not yet answered a. 98%. Marked out of 1.00 b. -2%. C. -10%. d. 10%. Clear my choice Next page
- Andrew lives in Houston and operates a small company selling drones. On average, he receives $773,000 per year from selling drones. Out of this revenue from sales, he must pay the manufacturer a wholesale cost of $452,000. He also pays several utility companies, as well as his employees wages totaling $277,000. He owns the building that houses his storefront; if he choose to rent it out, he would receive a yearly amount of $3,000 in rent. Assume there is no depreciation in the value of his property over the year. Further, if Andrew does not operate the drone business, he can work as a nurse and earn a yearly salary of $32,000 with no additional monetary costs, and rent out his storefront at the $3,000 per year rate. There are no other costs faced by Andrew in running this drone company. Identify each of Andrew's costs in the following table as either an implicit cost or an explicit cost of selling drones. The salary Andrew could earn if he worked as a nurse The wholesale cost for the…III. PROBLEM SOLVING: Lino Batumbakal is now exploring the option to start selling beef wellington. He is trying to find out how many must he sell in order to start earning money. From an initial feasibility study, he will incur a total of 200,000 pesos for equipments and other fixed expenses. He is planning to sell the wellington at 500 pesos for each incurring direct expenses of 150,000 pesos in the production. According to Lino Bataumbakal's feasibility study, should he start selling the beef wellington, he will have the following data: Price 500 2,100 12 10 6. What is the Supply Function? 7. What is the Equilibrium Point? Q 4 6 1. What will be the TOTAL COST EQUATION? 2. How many units must he sell in order to break even? 3. How much should be her revenue to earn a profit worth 100,000 pesos? 4. If Lino would like a Net Profit of 300,000 pesos, how many units should he sell? 5. What is the Demand Function?. ANSWER 567(9N9.2) Would a lump-sum profits tax affect the profit-maximizing quantity of output? How about a proportional tax on profits? How about a tax assessed on each unit of output? How about a tax on labor input?
- III. PROBLEM SOLVING: Lino Batumbakal is now exploring the option to start selling beef wellington. He is trying to find out how many must he sell in order to start earning money. From an initial feasibility study, he will incur a total of 200,000 pesos for equipments and other fixed expenses. He is planning to sell the wellington at 500 pesos for each incurring direct expenses of 150,000 pesos in the production. According to Lino Bataumbakal's feasibility study, should he start selling the beef wellington, he will have the following data: Price 500 2,100 12 10 6. What is the Supply Function? 7. What is the Equilibrium Point? Q 4 6 1. What will be the TOTAL COST EQUATION? 2. How many units must he sell in order to break even? 3. How much should be her revenue to earn a profit worth 100,000 pesos? 4. If Lino would like a Net Profit of 300,000 pesos, how many units should he sell? 5. What is the Demand Function?.Round Answer to 2 decimal points. 9.560,979 xQUESTION 6 Four panels in the figure below show four different evolutions of an economy's output over a year. In all figures, the solid line depicts the actual level of output, the dashed line stands for the full-employment output, and the markered line shows the interest rate set by the central bank. Panel A Panel B 102.50 0.06 101.00 0.05 100.80 100.60 100.40 100.20 102.00 0.05 0.04 101.50 0.04 0.03 101.00 0.03 0.02 100.50 0.02 100.00 99.80 0.01 100.00 0.01 99.60 99.40 99.20 99.50 99.00 -0.01 -0.01 actual output (left axis) actual output (left axis) full-employment output (left axis) full-employment output (left axis) -interest rate (right axis) - interest rate (right axis) Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20
- The timber rights to a tract of forest can be purchased for $250,000. The harvesting agreement would allow 25% of the timber to be cut in each of the first, second, fourth, and fifth years. The purchaser of the timber rights would be required to replant, at its expense, the logged areas in Years 3 and 6. Arrowsmith Lumber calculates that its profit in each of the four cutting years would be $90,000 and that the cost of replanting the harvested areas in each of Years 3 and 6 would be $30,000.a) Should Arrowsmith Lumber buy the timber rights if its cost of capital is 5.5%?b) By what amount would the economic value of Arrowsmith Lumber be increased or decreased if it proceeded with purchasing the timber rights for $250,000?7. Answer the given question. Do not round off answers while solving, instead just the final answer will be rounded off to two decimal places.Fill out the tabe using the formulas for each (AFC, AVC, ATC, MC) and plot each on the graph.
