The best definition of the value of a good today is the current cost of it production O its value in a current competitive market the purchase price its face value its historical cost as determined by accountants today

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Concept: Price floor: A price floor is a minimum price set by the government or its authorities for…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Profit maximizing or loss-minimizing output for a monopolist occurs at the point where MR is just…

Q: The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…

A: A monopolist is a seller who has no other competitor in the market. He is the only seller in the…

Q: If profit of the firm is $1090 and total cost is $4300 Calculate the value of total revenue

A: The given information is as follows:- Profits of the firm = $1090 Total cost of the firm = $4300 We…

Q: You’ve been given a firm’s production and cost functions: p = 132 −2q MC = 12 + 4q (a) Assume this…

A: Equilibrium is where demand equals supply.  In a competitive market,  Equilibrium is where price…

Q: A clothing merchant purchases a shipment of clothes for $38,000.00 with discounts of 11% and 5%. He…

A: Given information Total cost of shipment of clothes = $38000 He sells it at a discount of 11% and 5%…

Q: LLBean orders a supply of its house brand hiking boots when stock on hand drops to a given level at…

A: Given:

Q: Price of Quantity of Total Marginal Utensil Utensils demanded Revenue Revenue $50 100 $45 200 $40…

A: The sum of money that a firm earns without deducting the expenses is called revenue.

Q: Ram Roy's firm has developed the following supply, demand, cost, and inventory data. Supply…

A: total cost, in economics, the sum of all costs incurred by a firm in producing a certain level of…

Q: The value of Total revenue is $400 and the average revenue is $40 Calculate the output

A: # if we are given the value of total revenue and average revenue then we can easily calculate the…

Q: Price is given to be as $70 and the total quantity sold are 87 calculate the total revenue generated

A: # We know that we can calculate the total revenues generated by the firm by simply multiplying the…

Q: What is the profit maximizing profit?

A: The revenue is the amount of money earned from selling the units of output. The cost is the cost of…

Q: Complete the table. A. B. C. D. E. F. G. H. I.

A: A. Marginal Revenue at Price 18=11900−10800/700−600=11B. Marginal Cost at Price…

Q: Identify the goods or services does the Dairy products industry produces

A: The following problem has been answered as follows:

Q: On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when…

A: The total receips collected from the sale of goods at the market price is known as the total…

Q: Describe the various cost components that affect the retailgasoline price?

A: Gasoline is one of the many petroleum products which is made by refining crude oil. The price of…

Q: Quantity Fixed Costs Variable Costs Total Cost Marginal Cost 10 200 50 250 *********** 20 200 100…

A: (A) If the equilibrium price is $20, find the profit-maximizing quantity.  The profit is maximum at…

Q: Is a farm business considered Land, Labor, Capital

A: Factors of production are the inputs used in the production process and they can be broadly…

Q: Price per unit of chair is $330 and the output sold is 16 units Calculate Total revenue

A: The information being given is:- Price per unit of chair = $330 Output = 16 units We have to…

Q: b. Calculate the profits (or losses) for this typical firm. per month c. At this market price, will…

A: Firm produces at the point where P=MC since, in perfect competition price is constant and equal to…

Q: Quantity Total Price Demanded Revenue Revenue Marginal Total Marginal Cost Cost $24 1000 $24,000…

A: According to the guidelines answer is provided to the first three subparts: a) "Total revenue is…

Q: What specific data must a firm examine to decide the quantity of product it should produce to make…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: DECREASING MARGINAL COST OCCUR FROM 0 TO20 TONS OF STEEL BECAUSE THE WORKERS A. WORK OVERTIME B.…

A: Total cost is the sum of total fixed cost and total variable cost. Marginal cost is the change in…

Q: (a) Complete the table. (b) Identify the equilibrium output and price. (c) How much profits does the…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Solve and analyze the following problems. Make sure all the steps are properly justified. Correctly…

A: The equilibrium is the stable state where the demand and supply are equal. When the price are above…

Q: When there is increase in denmanc and decrease in supply, equilibrium price: (a) Falls (c) Constant…

A: According to the given question Equilibrium price is relatively what is when the amount of quantity…

Q: Which of the following best describes why the Hours of Service Regulations were put into place? O To…

A: The driver test is important to ensure the safety of peope with having the all relevant information.…

Q: Calculate the value of average revenue when total revenue is $400 and the no of units employed are…

A: Average Revenue is given as:- = Total revenue / No of units of employed

Q: Economic Costs Owner/operators of small gas stations rarely pay themselves an hourly wage. How does…

A: The economic cost of a product or service refers to the total cost of production, including all of…