3-) Use the following information to answer the questions below: The Kentucky Coal Company sells its coal in a nearly perfectly competitive market. It estimates its total costs of production as TC-1000+40+0.0502 where Q-tons of coal per day. a-) What is the fixed cost for this firm? b-) What is the total variable cost when quantity is 10 units? c-) What is the marginal cost of producing 10 units?
Q: Consider a bond without an expiration date that makes a fixed interest payment of $210 per year.…
A: Bond yield is calculated by dividing the face value of a bond by the amount of interest it pays to…
Q: 229 I invest $10,000 in an for 3 account years. The interest is 5% annually. How much money will I…
A: Given information, Principal amount (P): $10,000 Interest rate (r): 5% annually Time period (t): 3…
Q: Fiscal policy involves increases or decreases in Multiple Choice O interest rates. the money supply.…
A: Fiscal policy basically refers to the use of government spending and taxation to influence the…
Q: 1) Analyze the core competitive industries of Bangladesh? In this field, does Bangladesh adopt a…
A: Bangladesh is a growing economy, GDP the economy is increasing at a higher rate. Their manufacturing…
Q: S Why is а perpetuity? share in equitis considered a
A: answer to question no. 5. - Share in equity is basically an investment in the operations of a…
Q: A company is investigating three alternatives as follows: Ho Alternative A Initial cost $60,000…
A: Given cash flow information Alternate A Initial cost=$60000 Annual benefit=$32000 Salvage…
Q: Given a firm's total cost function: TC = 50 +2Q +2Q², where Q is the quantity of output. Solve for…
A: Cost of production undergoes change when output increase or decrease.
Q: = - 5. In a recent strategy meeting, the Chief Operating Officer (COO) had asked you to report on…
A: Profit = TR - TC Profit for Firm 1: P1 = q1(125 - 0.25q1 - 0.25q2) - q12 P1 = 125q1 - 0.25q12 -…
Q: 1. Critique GDP per capita as a measure of welfare.
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: What is 'The New Deal' refers to in industrial relaions.
A: Between 1933 and 1939, the New Deal was a domestic programme of US President Franklin D. Roosevelt…
Q: Recommend valid changes Livestock Wealth can make to their mission statement to make it more…
A: Economics is the study of how the scarce resources of society are exploited. It is a social science…
Q: Done 1 2 3 I Undertanding the determinants of Supply and Demand, and the impact on Changes to…
A: The correct answer is given in the second step.
Q: What does national security have to do with trade barriers?
A: A tariff is a tax levied on goods imported, and a quota is a quantitative limitation on goods…
Q: One of the mutually exclusive alternatives below must be selected. Base your recommendation on…
A: Answer is given below
Q: Number of Votes 63 43 A reality show is considering three cities for their new season: Philadelphia…
A: Answer is given below
Q: In recent years, almost all new job creation in the United States has occurred in the sector.…
A: The process of creating new jobs, particularly for those who were previously unemployed or inactive,…
Q: Consider a monopolist with the following demand and cost function: Demand: P = 200 -0.10 Cost: C =…
A: We have downword sloping demand for monopolist and given cost function a function of Q.
Q: 3) A Gillette Stadium vendor sold 500 hamburgers at $10 each and 750 hot dogs at $5 each during…
A: Cross price elasticity measures the percentage change in quantity demanded of good 1 with respect to…
Q: Suppose demand for masks is Q-21-P. The supply of masks is Qs =2P Set QpQs and use algebra to find…
A: the equilibrium is at Qd=Qs 21-P=2P 3P=21 P=7 Q=2*7=14
Q: The marketing team of "Hi" restaurant reduced the price of their special triple-decker with double…
A: Break even point refers to a level of output at which the total cost of production of a firm is…
Q: 2. The opportunity cost of holding assets as money Suppose you've just Inherited $10,000 from a…
A: Answer; Ans 1) Interest rate =8, opportunity cost= 800 Interest rate= 10, opportunity cost=…
Q: Suppose you've just inherited $10,000 from a relative. You're trying to decide whether to put the…
A: *Opportunity cost when interest rate is 5 % = 10000 x 5% = 500 *Opportunity cost when interest rate…
Q: The $1.4 billion trick to make us accept income inequality Lotteries take money from the poor and…
A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…
Q: 2. Use the data below to do a 3 year and 5 year mov Explain what happens to the data. Year Data 1996…
A: *Answer:
Q: 1. Let preferences of both individuals be given by log(c) + log(c₂). Suppose that the endowment…
A: Consumer preferences basically refers to as subjective (individual) tastes for distinct bundles of…
Q: Price Question 3 What would happen to equilibrium price and equilibrium quantity of khaki pants…
A: Equilibrium in the market occurs at the intersection of demand and supply curves.
Q: Problem 2: Fractional Reserve Banking Suppose your little cousin decides to take $500 out of her…
A: The banks are able to create new money in the economy through the system of banking called…
Q: Suppose the equilibrium real interest rate is 5% and inflation rate is 3%. Determine the equilibrium…
A: Real Interest rate = 5% Inflation rate = 3%
Q: A producer can produce 2500 units of wood rts per day at a plant located in USA. e steady demand for…
A: Given that, Yearly demand is 500 * 200 = 100000 The arrangement cost is $50 holding…
Q: COMPUTE THE NOMINAL GDP
A: A country's nominal GDP is determined using current prices and is not adjusted for inflation.…
Q: Concent of competitive advantag the aspect of qualify LOW COST technology and other
A:
Q: What are the strengths and weaknesses for establishing base pay in international contexts for host…
A: Base wages is the underlying wages paid to a worker, excluding any advantages, rewards, or raises.…
Q: Income mobility measures changes in the required commuting time for a cross-section of workers. is…
A: Economic mobility refers to how a person's financial situation varies through time.
Q: Suppose real GDP is growing at a rate of 3%, and money supply is growing at 6%. What is the…
A: Answer; Answer = 3percentage
Q: Year: 2021 Value added of agriculture, fishery and forestry sector Value added of industry sector…
A: Given information table
Q: d. What was the growth rate of nominal GDP between 2019 and 2020? What was the growth rate of real…
A: (a) Nominal GDP in 2019=14×18+15×11=$417 and Nominal GDP in 2020=16×13+17×12=$412 (b) real GDP…
Q: What is meant by the term “market power”? Can a monopolist charge any price it wants because it is…
A: Monopoly market is defined as a market structure in which there is only a single seller in the…
Q: William purchased a universal life policy on his own life. When his son Ben turned 25, William…
A: Answer - Taxable Income:- The total income generated by an individual or a firm . If the total…
Q: If good X plotted on the x-axis, and good Y plotted on the y-axis, an increase in the price of good…
A: Budget constraint shows the amount of the two goods that can be purchased given their prices and…
Q: 7) Refer to the graph below. Which move leads to a decrease in revenue? 11.0 100- a) The move from A…
A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…
Q: 1. A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four…
A: A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four…
Q: Assume you are examining the economy of India. Assume the Indian economy is initially in…
A: The measure that depicts the final value of goods and services during a specified period of time is…
Q: Prospect Y = ($4, 0.25 ; $16, 0.75) If Will's utility of wealth function is given by u(x)=x0.25,…
A: Prospect Y = ($4, 0.25 ; $16, 0.75) And Will's utility of wealth function is given by u(x)=x0.25
Q: Workers in socialist countries often get longer vacations and more social benefits than workers in…
A: Only companies that innovate and create items that consumers demand survive in a free market.…
Q: The demand and supply curves of fire extinguishers are given by Qa= 10,000 - 10P and Qs = 15P,…
A: Given information Demand function Q=10000-10P Supply function Q=15P External benefit=$4
Q: If the monopolist is incurring a short run economic loss, what are some options the monopolist has?
A: Monopoly is a market condition where there is a single seller. It sells a unique commodity in the…
Q: Will a profit-maximizing firm in a competitive market ever produce a positive level of output in the…
A: The change in total cost to change in output is known as marginal cost. The marginal cost is the…
Q: How does neoliberalism differ from classical liberalism in its approach to economics? Group of…
A: Neoliberal proponents may use classical liberal logic to justify neoliberal policies. The…
Q: 16. Suppose there are two manufacturers A and B in the society, and each manufacturer will produce…
A: Answer -
Q: Prospect Z = ($7 , 0.25 ; $19 , 0.50 ; $26 , 0.25) If Anna's utility of wealth function is given by…
A: Prospect Z = ($7 , 0.25 ; $19 , 0.50 ; $26 , 0.25) and Anna's utility of wealth function is given by…
Step by step
Solved in 2 steps
- 12. The monthly total cost of production for Flavell Corp., is related to the level of output Q in the following way: TC = 15Q -8Q² +Q³ Which of the following represents the marginal cost of this total cost curve? a) MC=15-16Q+ 3Q² b) MC=-16Q+3Q² c) MC=15-8Q+ 3Q² d) MC=15+8Q-3Q²(a) The marginal cost of two firms are given by the following | cost Firm 1: C'(Q) = 300e® 1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (ii, (iii) avee (iv) Find the total cost for producing up to 100 units3) A firm produces 50 000 boxes in one month and market price of these shoes is 10 TL per box. The total cost of the firm 400 000 TL and 20% of that cost is variable cost. Given that information a) Calculate the profit, ATC, AFC and AVC of that firm b) Suppose that market price is up to 11. The firm considers to increase its output to 55 000 when the price is 11 which however will lead to a total cost of 480 000. Should this firm increase its output and if so, why?
- 1. The total cost of producing a quantity q is C(q). The average cost a(q) is given in figure below. The following rule is used by economists to determine the marginal cost C'(q0), for any qo: Construct the tangent line ti to a(q) at qo. Let t, be the line with the same vertical intercept as t, but with twice the slope of t, . Then C'(q0), is the vertical distance shown in figure below. Explain why this rule works. $/unit a(q) t2 t1 C'(qo)PROBLEM 1 Suppose a single firm has total costs of production given by the equation TC = 4q+59² - 9³ and marginal cost given by: MC = 4 + 10q-q² where q> 0, is the quantity produced by a single firm. 1. Find the breakeven price and quantity for this firm? 2. Graph your findings by showing the breakeven price and quantity for this firm. ANSWERThe figure shows a bakery's marginal and average cost curves, and its isoprofit curves. The bakery is a price-taker in a large bread market. Suppose the current market price is P₁. Based on this information, which of the following statements is correct? Price, Cost €6 (5 20 40 60 80 Quantity MC hoprofits AC 100 120 140 160 180 number of loaves Select one or more: a. The bakery would be better off raising its price up to its AC level. O b. The bakery would be minimising its loss at A. Oc. If the bakery is not yet in the market then it would not enter the market. d. If the bakery is already in the market, then it would always immediately exit the market because it is making a loss.
- The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If the company’s fixed costs are $30, what is the marginal cost X? Quantity Variable Cost Fixed Cost Total Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 $30 1 $10 $30 2 $25 $30 X 3 $45 $30 4 $70 $30 5 $100 $30 6 $135 $30 Group of answer choices $15 $55 $5The following are the cost information of a typical ice tea company in an industry with 100 firms. Output (ice tea per hour) Marginal Cost ($ per ice tea) Average Variable Cost ($ per ice tea) Average Total Cost ($ per ice tea) 3 2.50 4.00 7.33 4 2.20 3.53 6.03 5 1.90 3.24 5.24 6 2.00 3.00 4.67 7 2.91 2.91 4.34 8 4.25 3.00 4.25 9 8.00 3.33 4.44 a) At the price of $2.20 per ice tea, what is the firm’s profit maximizing level of output? Why is this the profit maximizing level of output for the firm? b) If the market price is $8 per ice tea and the firm is producing six (6) ice tea per hour, is the firm maximizing profit or not? Why or why not? If the firm is not maximizing profit, what should it do to maximize profit? c) At the price of $8 per ice tea, what is the firm’s profit-maximizing level of output? Why is this the profit maximizing level of output? What is the firm’s economic profit at…7. Assume that the marginal cost curve is given by mc(q) = 100 + 2q. (a) If the price is $160, what is the optimal production for the firm? What if the price is $120? (ignore the shut-down decision for this part) (b) Assuming that the market is cleared at $160 (no shortage/surplus). If the market demand is equal to 10,000 units of the product. How many firms are currently operating (n) in the market? (Hint: if the market clears qª = n x q°) (c) If the total cost curve is TC 256 + 100g + q², what's the average total cost curve? %3| what's the break-even price? (d) If the demand curve is given by qd = 8, 452 – p, what's the long-run equilibrium price, the equilibrium quantity and the long-run total number of firms (n) in the industry?
- The following are the cost information of a typical ice tea company in an industry with 100 firms. Output (ice tea per hour) Marginal Cost ($ per ice tea) Average Variable Cost ($ per ice tea) Average Total Cost ($ per ice tea) 3 2.50 4.00 7.33 4 2.20 3.53 6.03 5 1.90 3.24 5.24 6 2.00 3.00 4.67 7 2.91 2.91 4.34 8 4.25 3.00 4.25 9 8.00 3.33 4.44 d) Is the price $8 a short-run or long-run equilibrium price for the industry? If the price is not a long run equilibrium price, what adjustments are likely to happen in the market for it to reach long run equilibrium. e) What price must prevail in the market for a typical firm to operate in the short run? At this price, how many ice tea will be supplied by all firms in the market?Central Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery. Muffaletta Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78 Fill in the table What are the profit-maximizing price and quantity, and what…The table gives some of the costs of the Delicious Pie Company. The marginal cost per pie of increasing the output of pies from 100 to 200 is Total variable cost (dollars) Output (pies) 0 100 200 300 400 $8.00 $600 $6.00 $5.00 0 400 1,000 1,800 2,800 Total cost (dollars) 300 700 1300 2100 3100 ?