Give explanation of correct option and incorrect option and take like Price ($)30-20-10-MCMR50100150OutputATCAVCIf the firm is maximizing profits (minimizing losses), this firm charges a price of appro$10.50$14.00$18.50$26.00

Breakdown of each choice assuming a typical cost and revenue graph for a firm:$10.50: This price…

Answered: Price ($) 30- 20- 10- MC MR 50 100 150…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate: Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $
Please no written by hand solutions Consider a game between two friends, Amy and Brenda. Amy wants Brenda to give her a ride to the mall. Brenda has no interest in going to the mall unless her favorite shoes are on sale at the large department store there. Amy likes these shoes as well, but she wants to go to the mall even if the shoes are not on sale. Only Amy subscribes to the newspaper, which carries a daily advertisement of the department store. The advertisement lists all items that are on sale, so Amy learns whether or not the shoes are on sale by showing the newspaper to Brenda. But this is costly for Amy, because she will have to take the newspaper away from her sister, who will yell at her later for doing so. In this game, nature first decides whether or not the shoes are on sale, and this information is made known to Amy (Amy observes whether nature chose S or N). Nature chooses S with probability p and N with probability 1-p. Then Amy decides whether or not to take the…
How is the Rational decision making a complex process?
Question 2 A rational person makes a choice if Group of answer choices the choice makes money the benefits outweigh the costs the costs outweigh the benefits the choice is ethical
Hello, please help me to solve part (d) and (e):Charlie finds two fifty-pence pieces on the floor. His friend Dylan is standing next to him when he finds them. Chris can offer Dylan nothing at all, one of the fifty-pence pieces, or both. Dylan observes the offer made by Charlie, and can either accept the offer (in which case they each receive the split specified by Charlie) or reject the offer.If he rejects the offer, each player gets nothing at all (because Charlie is embarassed and throws the moneyaway).(a) Formulate this interaction as an extensive-form game. To keep things simple, players’ payoff is equal to their monetary gain.(b) List all histories of the game. Split these into terminal and non-terminal histories.(c) What are the strategies available to Charlie? What are the strategies available to Dylan? Draw the strategic-form game.(d) Find the pure-strategy Nash equilibria of this game.(e) What do you think will happen?
The first step to take when you consider making a major purchase is to decide (a) whether you need the product (b) whether you have enough money to buy the product (c) what make and model of the product you should buy (d) where the best place is to purchase the product.
4
In economics, what is the term for the highest-valued alternative that must be sacrificed when making a decision? A. Marginal cost B. Opportunity cost C. Sunk cost D. Average cost

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Price ($) 30- 20- 10- MC MR 50 100 150 Output ATC AVC If the firm is maximizing profits (minimizing losses), this firm charges a price of appro $10.50 $14.00 $18.50 $26.00