Answered: Some firms solicit the services of…

Some firms solicit the services of other companies on an "as needed" basis and then release them when the job is done. These companies form a flexible structure known as an)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.
i need the answer quickly
A profit-maximizing firm will: O reduce employment if VMPL exceeds MCL. O expand employment if the VMPL exceeds MCL. O reduce employment if VMPL equals MCL. O expand employment if VMPL equals MCL
Brian lives in New York City and runs a business that sells pianos. In an average year, he receives $726,000 from selling pianos. Of this sales revenue, he must pay the manufacturer a wholesale cost of $426,000; he also pays wages and utility bills totaling $264,000. He owns his showroom; if he chooses to rent it out, he will receive $13,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Brian does not operate this piano business, he can work as a paralegal and receive an annual salary of $22,000 with no additional monetary costs. No other costs are incurred in running this piano business. Identify each of Brian's costs in the following table as either an implicit cost or an explicit cost of selling pianos. Implicit Cost Explicit Cost The rental income Brian could receive if he chose to rent out his showroom The wholesale cost for the pianos that Brian pays the manufacturer The salary Brian could earn if he worked as a paralegal The…
Suppose a firm produces bicycles will the firms accounting statement reflect the opportunity cost of the bicycles why or why not?
14. A Sixteen Tons Question: A coal mine in a small town is a monopsony with a supply of labor function given by w = 4L. Its production function is given by Q = ½L. The coal it produces is sold in a PC market at a price of $32. A) What is this monopsony’s MFC function? B) How much labor will the mine hire and what will be the wage?
(This is a single question with five parts to the answer. I would appreciate help with all five parts if possible. Image screenshot of the original question with the formulas more easily readable than can be identified here is attached) Tech firms produce goods and services from labor and energy. The total cost in dollars to produce y amount of goods and services for each firm j is cj(yj) = yi2. There are 100 identical tech firms which all behave competitively. What is the individual supply of technological goods and services? What is the market supply of technological goods and services? Suppose the demand curve for these goods is D(p)=200-50p. What is the equilibrium price and quantity sold? How much is the total surplus of this economy? Now suppose that the industry makes a one-time investment for $K amount of dollars to innovate in a new technology of production that allows every firm to reduce its cost of production to a 1/4 fraction of the previous cost. What is the new total…
. Walmart follows a centralized purchasing system; they achieve high efficiency in their operations, concentrate on small towns, and reap the experience curve's benefit. What generic strategy does Walmart follow? Briefly explain the strategy. . Explain briefly the traditional approach to strategic control (you can even explain using a diagram) . Briefly explain the school of thought that argues against CEO Duality. Mention components of emotional intelligence with a brief explanation. What is matrix structure in the organizational design approach? (you can even explain using a diagram) Discuss the four criteria that a firm's resources must possess to maintain a sustainable .
The answers you provided is what I got for total profit. I believe marginal profit should be different...
Each widget firm has the cost structure illustrated in the left graph below. The right graph illustrates two different possible demand curves for widgets, D1 and D2. MC ATC D2 AVC D1 0123456789 10 11 400 1200 1500 2000 2400 2000 Suppose the required assumptions for a perfectly elastic long run supply curve hold for the widget industry. Also, assume that the demand for widgets is depicted by the demand curve D1, and that the industry is in long-run equilibrium. What is the long- run output (quantity produced) for the entire industry? O 1600 1200 2000 O 800 O 400 Previous