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- Which of the following is true? OA. Quantity rises and the effect on price is unknown B. Quantity is unknown and price rises OC. Quantity rises and price falls OD. Quantity and price rise qHey! Need help with the following question, thank you in advance! Question: You read a newspaper report that compares wages paid to employees at Starbucks in India and in the United Kingdom. At the time, 1 pound was equal to 87 rupees. The report says that Starbucks baristas in India are paid a mere 56 pence an hour, which is lower than the price of the cheapest coffee that Starbucks sells in the United Kingdom. A friend of yours who read the report is appalled by this information and thinks that Starbucks ought to raise its salaries substantially in India. Is your friend necessarily correct? Explain your answer.The Augsburg math club paid $200 for fancy souvenir water bottles that they are going to sell next year for $6 each at the Taste of Augsburg during Homecoming Weekend. Define two variables that relate quantities in this story. Which one is the input of this function and which one is the output? Write an equation for your function, and briefly explain why your function is valid.
- Let S represent the amount of steel produced (in tons). Steel production is related to the amount of labor used (4) and the amount of capital used (C) by the following function. S- 20100.70 In this formula L represents the units of labor input and C the units of capital input. Each unit of labor costs $50, and each unit of capital costs $100. (a) Formulate an optimization problem that will determine how much labor and capital are needed in order to produce 55,000 tons of steel at minimum cost. Min s.t. -55,000 L.C20 (b) Solve the optimization problem you formulated in part (a). (Hnt: When using Excel Solver, start with an initial L>O and Co. Round your answers to the nearest integer.) at (L. C) =Need help with this questions. Remember its all together as 1 question. Thank you!Suppose Nicholas owns a business making Christmas tree ornaments. Currently, he makes 300 ornaments a month. At this level of production, each additional ornament takes him 30 minutes to make and costs him $5 in materials. Nicholas makes his ornaments in a small studio that he rents for $300 a month. Nicholas can easily increase or decrease the amount of time he spends making ornaments, and he can easily go to the store to buy additional materials to make the ornaments, but he has a year-long lease on his studio, so he has to pay his monthly rent no matter how many ornaments he produces each month. Nicholas values his time at $10 per hour. Other than his time, the cost of the materials and the rent on his studio, Nicholas has no additional production costs. a At Nicholas's current level of production, what is the marginal cost of making an additional ornament each month? b. At Nicholas's current level of production, what is the monthly average fixed cost of each ornament? c. Assuming…
- Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Use the table to answer the following questions. The marginal, or additional, gain from Manuel's first hour of work, from 8:00 AM to 9:00 AM, is problems. The marginal gain from Manuel's third hour of work, from 10:00 AM to 11:00 AM, is problems. Later, the teaching assistant in Manuel's physics course gives him some advice. "Based on past experience," the teaching assistant says, "working on 25 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours…MICROECONOMICS Questions 3 ( ALL OF IT IS ONE QUESTION!!!) For article 3 write the number of the graph that best describes what happened. Fill in only the appropriate boxes in the chart for article 3 and be sure and indicate if it is an increase or a decrease. For the graph use an arrow to indicate an increase or a decrease. Make sure you fill in the graph PLEASE Leave it blank if there is no change Masks (Now). The easing Covid-19 pandemic is expected to reduce demand for medical masks this year, joining a group of companies that have forecast a decline in business from Covid-19 prevention. Masks became a billion-dollar business for the St. Paul, Minn., manufacturer starting in 2020, when the virus’s rapid spread sent consumers and healthcare workers looking to secure facial coverings to try to avoid infection. Now, as the latest U.S. surge caused by the Omicron variant fades, 3M said they are seeing slowing mask sales. WHICH GRAPH BEST FITS THE ARTICLE. Graph # Graph…On the following graph, place the green line (triangle symbol) directly on top of the upward-sloping line you are given. Hint: Make sure you plot the green line at the grid lines. Line 1 Line 2 14 16 18 20 4 6 8 10. 12 QUANTITY (Thousands of boxes) True or False: The vertical intercept of the line will always be a snap point. True False PRICE (Dollars per box)