Assume that a business firm finds that its profit is greatest when it produces $42 worth of product A. Suppose also that eac the three techniques shown in the table below will produce the desired output. Resource Units Required Price per Unit of Resource Resource Technique 1 Technique 2 Technique 3 $2 5 2 3 Labor Land 4 2 4 Capital 2 2 4 Entrepreneurial ability 2 4 2 a. With the resource prices shown, which technique will the firm choose? Technique 2 # Why? This technique represents the least-cost combination. 2 5 4
Q: 4. Suppose that a firm has a total cost function C(Q) = 5000-40Q² +4Q³. Find AVC, MC, min ATC. What…
A: Given cost is a function of output level (Q) only, which means that cost function has only varaiable…
Q: Urgent need Write short notes on (a) ILO’s Conventions (b) Bipartism and…
A: International labour standards are legal documents established by the International Labour…
Q: Dollars F $15- e $10- $6 D $2 2,000 1,000 1,200 Quantity per period Use the graph above. If the…
A: Equilibrium is achieved at the output level where Qs equals Qd. Thus Q*= 2000 units and P*= $ 10
Q: q 0 1 2 TFC TVC 0 65 105 3 135 4 167 5 a. 203 6 244 7 293 8 55 355 9 432 10 527 4. Explain why the…
A: Cost can be understood as a price that has been paid for availing anything. They are majorly of two…
Q: 1.D Assume the money supply grows at a rate of μ> 0 initially. At some time later, an immediate…
A: The money supply is the supply of currency in an economy. It means the central bank uses the money…
Q: Question 10 d Anwser only question d please thank you Assume that there is a free-floating…
A: Free-Floating exchange rate The demand and supply factors in the international market determine the…
Q: Suppose Sam has a weekly budget of $48 to spend on juice and yogurt. Juice is priced at $4 per…
A: Given Weekly budget of Sam = $48 Price of juice =$4 per gallon yogurt price = $2 per container
Q: A company produces electric devices, the fixed cost is 30,000 LE and the variable cost is 100 LE per…
A: The amount cash that the offer of every unit will add to taking care of total fixed costs is known…
Q: Define
A: In economic matters, inflation is a general expansion in the costs of labor and products in an…
Q: Which of the following statements correctly explains the average cost and the marginal cost of…
A: Marginal cost refers to additional cost that incurs from producing one more unit of output.
Q: In the short run, the decrease in investment spending associated with business pessimism causes the…
A: The curve that depicts various quantities of goods and services being demanded at various levels of…
Q: Economic profit is: total revenue minus explicit costs. total revenue minus explicit and implicit…
A: Merely Economic profit is actually is a certain form of the profit or the output which is derived…
Q: There are three kinds of individuals in a community: a low risk type (L) whose probability of…
A: The predicted net pay-off of actuarially fair insurance is $0.An insurance contract is actuarially…
Q: b+I+G-aT 1-a The reduced form of a macroeconomic model is Y = constant values of investment and…
A: Y = (b + I* + G* - aT*) / (1-a) Where I* and T* denotes the constant value of investment and…
Q: Jane thinks that two 6-ounce cans of beer are exactly as good as one 12-ounce can of beer. Suppose…
A: Let's represent 6-ounce cans of beer by X1 and 12-ounce cans of beer by X2 Jane thinks that two…
Q: 2. The internal rate of return on an investment refers to the interest rate earned on the: a.…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: xample: Interest rate adjusted for inflation if the market interest rate is 10% and the overall…
A: Given information: The market interest rate is 10%. => Nominal interest rate = 10% -----------…
Q: Discuss the following terms in an EIA process (a) study area (b) base map (c) terms of reference and…
A: the EIA processes help to find the conceivable natural impacts of a proposed movement and how those…
Q: 011,000 070,500 51,500
A: Future worth is the worth of a resource at a particular date. It estimates the ostensible future…
Q: Maria produces pizzas using labor, an oven, and flour. When Maria uses 4 workers she can produce 100…
A: When all input levels, including the use of physical capital, are variable, the concept of "returns…
Q: 4. Suppose that a firm has a total cost function C(Q) 5000-40Q2 +4Q³. Find AVC, MC, min ATC. What…
A: A cost function is composite of varaiable cost and of fixed cost. Where varaiable part is a function…
Q: If pizza is a normal good, then which of the following could be the value of income elasticity of…
A: A normal good always have a positive income effect. This means that if income rise then the demand…
Q: Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC=…
A: A perfectly competitive firm is a price taker, and that implies that it should acknowledge the…
Q: Select one: a. are generally shorter than monetary policy lags. b. are generally longer than…
A: Fiscal policy is what we can convey in simple words that it actually explains the collection of the…
Q: 3. Using the graph to the right, suppose the country opens up to international trade, the world…
A: Equilibrium is achieved at a point where demand curve intersects supply curve. When world price lies…
Q: Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC=…
A: We have a firm which is operating in a competitive market and in short run.
Q: Question 189 of 190 FINAL - Social Studies The United States has put quotas (limits) on the number…
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: practise papers will be on time series and forecasting. You will use quarterly (GDP, GDP deflator)…
A: GDP GDP stands for the Gross domestic product, it is an economic element that is used to measure…
Q: 9. A cash flow has the following income values: $100 at end of year 2, $200 at end of year 3, $300…
A: The present value (PV) of a future sum of money or stream of cash flows is the value of that sum or…
Q: Suppose withdrawals of 10,000 every year starting at time 8 will be made and will go on forever. How…
A: When you earn interest on the principal amount of an investment (or loan), it is added back to the…
Q: 2. Fill in the blank your numeric answer for each of the following question. 1. A machine with a…
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: employment rent. If Maria loses her job, her government provides an unemployment benefit for up to…
A: Here, the information about employment rent and unemployment benefits to Maria is given to explain…
Q: q TVC 0 0 1 65 2 105 3 135 4 167 5 a. 203 6 244 7 293 8 55 355 9 432 10 527 4. Explain why the…
A: MC(marginal cost) is the change in TC(total cost) when an additional unit of good is produced. MC…
Q: Which of the following is an example of a nominal variable? A.) Output B.) Employment…
A: There are two types of variables Macroeconomics is concerned with, nominal and real variable.
Q: A4) In the circular flow of income model, which of the following equation must hold in equilibrium?…
A: The circular flow of income refers to the economic model to explains the connection between…
Q: n contrast to the united states, Japan has realized continuous current account surpluses. What could…
A: Current account of balance of payment shows the monetary transaction between nations which doesn't…
Q: Concentrate on the following production function: 10KL Q K+L Suppose w = Php 1, r = Php 4, and K = 4…
A: "A production function depicts a relation between inputs involved in the production process and…
Q: TVC 0 65 105 135 167 203 244 293 d. 8 55 355 9 432 10 527 e. 1. Use the table above to find the…
A: Total cost = Total fixed cost + Total variable costAverage variable cost = Total variable cost /…
Q: Let's consider an economy where all firms are favouring remote work to favour physical distancing…
A: Subsidy to promote remote work is the good idea to stop the spreding of the virus in the pandemic…
Q: TVC ATC/AC MC 0 0 1 65 2 105 3 135 4 167 5 203 6 244 7 293 d. 8 55 355 9 432 10 527 e. 6. Suppose…
A: Perfect competition market Perfect competition is the market in which there is a large number of…
Q: Adapt the two-sided search model to include government activity as follows. Suppose that the…
A: Two-sided search model The two-sided search model refers to the supply of labor and demand of them…
Q: 5. Why the aggregate supply curve slopes upward in the short run In the short run, the quantity of…
A: The sticky wage theory estimates that worker pay will in general answer gradually to changes in…
Q: Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56…
A: Budget line shows different combinations of two good that can be bought with the given level of…
Q: Explain the effect of expansionary monetary policy (increase in money supply) using IS-LM Model.
A: We will answer the first question since the exact one was not specified. Please submit a new…
Q: TVC ATC/AC 0 65 105 135 167 a. 203 244 7 293 d. 8 55 355 9 432 10 527 5. Explain why the short-run…
A: A complete table is a follows : TC = TFC + TVC AVC = TVC / Q ATC = TC / Q MC = TC - TC1 Q TFC…
Q: Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56…
A: Budget line refers to the locus of points which depicts the affordability of goods determined by the…
Q: find the total utility given the maximum umbination of good x and y. Use. Lagraangian approach. w…
A:
Q: The demand function for a firm's domestic and foreign markets are: AT) (5.4) P¡ = 50 - 401 Pa=40-…
A:
Q: Having the ability to utilise a computer effectively offers a variety of benefits. In terms of…
A: Technology improves the use of goods and services in a secure manner. It seeks to add value.…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?You are working for the chiefeconomist at Microsoft. Microsoft’s only significantcosts to producing and distributing a new version itit’s operating system is $30,000 in wages to itsemployees, $15,000 in computer testing, and$5,000 in utilities. Microsoft’s marketing department estimates that thedemand a new version it it’s operating system is Q = 320 – 0.5 P, with Pmeasured in dollars.What price should Microsoft charge for a new version it it’s operatingsystem? What profit should Microsoft expect?
- 20-3. Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service;s rescue teams to locate those lost or in trouble in the wilderness. How will this affect the costs that the Forest Service incurs?The owner of Barb’s Burgers has suggested the firm should invest in more moderntechnology and created a list of potential changes she thinks may be helpful as aninvestment. She has asked you to analyze the four potential choices and comment onwhat this would change in terms of cost:1. Build kiosks in the dining area for people to place their orders without having tointeract with a cashier. The kiosks would need also need to be integrated into thepoint of sales system to track orders for the kitchen Question: Argue how each of these is likely to change the cost of the firm once implemented (i.e. are any of these a fixed cost or a variable cost). How this adjust theamount of labour and/or capital currently necessary for the firm? Would the technology be a general technology, labour-saving, or capital-saving?ompleted 14 out of 20 stion 15 of 20 > A network good is one where the number of other users of the good. cost to the user rises if there is a large cost to the user falls if there is a small O benefit to the user falls if there is a large O benefit to the user rises if there is a large LAPTOP LOGIN acer USERNAME: student PASSWORD: Broward1
- Completed 17 out of 20 estion 14 of 20 > A network externality is an external cost or benefit generated from the O virtuous cycle. O production of a network good. consumption of a network good. O network effect. LAPTOP LOGIN cen PASSWORD: Browarg USERNAME: studentDefine (a) externalities and (b) sunk costs, andthen give examples of each that might be involvedin a proposal by an energy company to build anew coal-fired electric power generating unit. Howwould these factors be worked into the analysis?A customer has purchased one pack of 100 pairs of disposable face masks. The price of the second pack is $45, and the burer estitnated its net benefit from buying this second pack to exceed $50 What should the buyer do? Select one O a The buyer should not buy the second pack as buying the second packiwitl increase total benetts by less than total costs b. The buyer should not buy the second pack as buying the second pack will increase total benefits by more than total costs OC The buyer should buy the second pack because the marginal beneft of the second packit so igh that ts marginat cost does not mater umy more d. The buyer should buy the second pack because the marginal benefit of the second pack exceeds the marginal cost
- Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?What is die difference between accounting and economic profit?A small manufacturing plant makes three types of inflatable boats: one person, two-person,and four-person models. Each boat requires the services of three departments, as listed in thetable. The cutting, assembly, and packaging departments have available a maximum of 380,330, and 120 labor-hours per week, respectively.Department One-PersonBoatTwo-PersonBoatFour-PersonBoatCutting 0.5 hr 1.0 hr 1.5 hrAssembly 0.6 hr 0.9 hr 1.2 hrPackaging 0.2 hr 0.3 hr 0.5 hra) Calculate how many boats of each type must be produced each week for the plant tooperate at full capacity.b) Calculate how is the production schedule in part (a) affected if the packagingdepartment is no longer used.c) Calculate how is the production schedule in part (a) affected if the four-person boat isno longer produced