MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Question
Chapter 12, Problem 4QAP
(a)
To determine
Some example of firms, which reduce their own accounting costs.
(b)
To determine
Explain the implication for this policy.
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Chapter 12 Solutions
MICROECONOMICS
Ch. 12.1 - Prob. 1QCh. 12.1 - Prob. 2QCh. 12.1 - Prob. 3QCh. 12.1 - Prob. 4QCh. 12.1 - Prob. 5QCh. 12.1 - Prob. 6QCh. 12.1 - Prob. 7QCh. 12.1 - Prob. 8QCh. 12.1 - Prob. 9QCh. 12.1 - Prob. 10Q
Ch. 12.A - Prob. 1QECh. 12.A - Prob. 2QECh. 12.A - Prob. 3QECh. 12.A - Prob. 4QECh. 12.A - Prob. 5QECh. 12.A - Prob. 6QECh. 12.A - Prob. 7QECh. 12 - Prob. 1QECh. 12 - Prob. 2QECh. 12 - Prob. 3QECh. 12 - Prob. 4QECh. 12 - Prob. 5QECh. 12 - Prob. 6QECh. 12 - Prob. 7QECh. 12 - Prob. 8QECh. 12 - Prob. 9QECh. 12 - Prob. 10QECh. 12 - Prob. 11QECh. 12 - Prob. 12QECh. 12 - Prob. 13QECh. 12 - Prob. 14QECh. 12 - Prob. 15QECh. 12 - Prob. 16QECh. 12 - Prob. 17QECh. 12 - Prob. 1QAPCh. 12 - Prob. 2QAPCh. 12 - Prob. 3QAPCh. 12 - Prob. 4QAPCh. 12 - Prob. 5QAPCh. 12 - Prob. 1IPCh. 12 - Prob. 2IPCh. 12 - Prob. 3IPCh. 12 - Prob. 4IPCh. 12 - Prob. 5IPCh. 12 - Prob. 6IP
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- 1200 100.0 20.0 F20 100 -100 A company produces school buses. The graphs of the Cost function (red) and the Revenue function (blue) are given on the figure. (You may click on the figure to see a bigger version.) The horizontal axes represents quantity in number of units. Cost and Revenue are measured in thousands of dollars. Answer the following questions. 1. What are the fixed costs? Answer: thousand dollars. 2. Suppose the current level of production is 19 buses. Should the company produce 20 th bus? Answer "yes" or "no" 3. Between 0 and 100, approximately what level of production maximizes the profit? (Or minimizes the losses if the company doesn't make any profit). Answer:arrow_forwardThe table below presents the production quantity, total revenue, and total cost of a company in its production process. Using the Excel program, you make a graph that represents the total income and total cost. Determines the level of economic gain or loss for eadch production level. Identifies the point where the gain is maximized. Identifies which of the four market structures studied this example belongs to. Explain your answer in a paragraph of at least five sentences. Quantities in production Total income Total cost 0. 0. 27.23 1 36 55.69 21 72 81.68 3. 108 105.19 144 123.75 180 141.08 216 155.93 252 174.49 8. 288 198.00 9. 324 226.48 10 360 259.88 396 303.19 11 12 432 371.25 13 468 445.50 504 536.25 14 15 540 605.00 OFocus 5:48 AM ds English (United States) ) G ESP 2/23/202 4. 5.arrow_forwardi need the answer quicklyarrow_forward
- Explain why clear understanding of the environment within which it operates is important for business..arrow_forwardQ3. If a point lies on the curve this means the company is being efficient. If a point lies inside the curve, this tells the company what? They are being over efficient They are not efficient It is impossible None of the above Answer ____ Explain your answer:arrow_forwardQ: In your opinion, who should be the owner of the product created in manufacturing process?arrow_forward
- The question is related to economics/finance/accounting.arrow_forwardCan you write the answer for part b by hand pleasearrow_forwardEconomist T. Yntema estimated the short-run total cost function of the United States Steel Corporation in the 1930s to be as follows: C=182.1+55.73Q where C is total annual cost (in millions of dollars) and Q is millions of tons of steel produced. a. b. C. d. What was U.S. Steel's fixed costs? If U.S. Steel produced 10 million tons of steel, what was its average variable costs? What was U.S. Steel's marginal costs? If there were diminishing marginal returns to the variable inputs in the production of steel, do you think that this equation provided a faithful representation of U.S. Steel's short-run total cost function? Briefly explain.arrow_forward
- A producer borrows money and start a business . He himself looks after the business. Identify the explicit and implicit costs from this information. Please write the answer in brief.arrow_forwardIn your own words/don't copy from the internet write 800 word How do firms contribute to the efficiency of the market economy in ways that networks of independent contractors do not? Use your organization, or one with which you are familiar, to illustrate your response.arrow_forwardSuppose a hugely successful Web company has used freeconomics, expanded its scale of operations, and spread its long-run costs over larger and larger audiences. However, after years of profits, its continued growth has now caused the company’s profits to fall. Using production costs theory, explain why this situation might be occurring.arrow_forward
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