Q: If a firm has an accounting profit it must have an economic profit. O True
A: Profit = total revenue - total cost
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A: A short-run production function tells us how a firm makes use of its variable factors to facilitate…
Q: A bookstore sells 90 textbooks at a price of $70 a book. The average total cost is $50 per textbook.…
A: Given that : Number of textbooks = 90 Price of a book = $ 70 Average total cost = $ 50
Q: Price, marginal venue, marginal cost, average total cost $35 ATC 29 26 MC 160 220 250 300 Quantity…
A: The profit is maximized where the MR = MC.
Q: Explain the law of diminishing returns.asap
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Q: iven - p=35−0.5QTC=0.5Q2+5Q D)What are the break-even quantities? E)What quantity minimizes total…
A: Given Demand function: p=35-0.5Q ......... (1) Total cost function: TC=0.5Q2+5Q .......... (2)…
Q: sarah earns 400 per week and spends 15% of her earning on tranpotation every week
A: Given:- Earning per week= 400 Spend on transportation = 15%
Q: QUESTION 10 If the marginal cost is below the average cost, the average cost must be: a. increasing.…
A: Solution for Q10 :- For answering this question, we have to look into the relationship between…
Q: Find the value of X. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000| $1,000…
A: Total cost is the sum of fixed cost and variable cost
Q: A firm can produce only 2900 units per month. The monthly total cost is given by C(x) = 400 + 200x…
A: A firm’s main objective is to maximize its profits which it does by producing at an output where the…
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Q: QUESTION 9 If the marginal cost is above the average cost, the average cost must be: Oa. increasing.…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
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A:
Q: Accounting and economic cost Economic cost
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Q: Find the value of Y. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $1,000| $1,000…
A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building,…
Q: Explain using diagrams, the law of diminishing returns
A: The rule of diminishing marginal returns is an economic theory that states that once an optimal…
Q: A small farmer produces two types of crops, A and B. A and B generate $30 and $25 per bushel…
A: You have asked multiple questions. We will answer the first question for you. If u want any specific…
Q: Find market price if factor cost is$10and NIT is $20?
A: According to question Factor cost =$10 NIT=$20 market price has to be calculated
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A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
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A: Marginal gain of working on problems refers to increase in number of problems answered from…
Q: A firm can produce 100 units per week. I Junits Find the maximum profit.
A: Answer to the question is as follows :
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Q: a. Analysis: Point J signify inefficient use of available resources O A. False B. True
A: Answer - Thank you for submitting the questions.But, we are authorized to solve one question at a…
Q: What’s law of diminishing returns
A: The law of diminishing returns would operate since the output would not expand at rising rates.
Q: Costs
A: The amount pay to buy something ie good or service or the expense which is paid to have something .…
Q: Explain the law of diminishing returns. Asap
A: Meaning of Production Function: The term production function refers to the situation under which a…
Q: Explain that ''A price change isnot necessarily always in the contractor’s favor''?
A: A price change is not always in contractor's favor in many ways :- When price has increased:- When…
Q: Now fill in the column for marginal cost. (Recall that MC = ATC/AQ). What pattern do you see? %3D
A: Marginal product is defined as the output contributed by an additional unit of worker. It is…
Q: Ima New is a recent employee who initially requires 20 minutes to complete a job task. If she…
A: Job: It refers to the work which an employee has to do or the work which is assigned to him has to…
Q: An efficiency wage premium is a good way for a firm to reduce shirking if A. the cost of the higher…
A: The efficiency wage theory refers to a labor market theory which primarily focuses on improving the…
Q: e. When output is 5, marginal cost is
A: Marginal Cost(MC)= change in total cost(∆TC) ÷ change in quantity(∆Q)
Q: ment I lelhat as Cost Of producton.
A: The production involves producing the various goods and services. The production process would…
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A: The Fifth and Fourteenth Amendments' Due Process Clauses and, more directly, the Fifth Amendment's…
Q: Due to he learning effect it gets harder to produce each new product. Select one: True False
A: The learning effect describes the process through which education boosts productivity and raises…
Q: State the law if Diminishing Returns
A: A consumer's increased enjoyment from having one more unit of an item or service is referred to as…
Q: If a Prof leaves their $100,000 per year job to start a business that earns annual revenue $400,000,…
A: Explicit cost is the actual monetary expenditure. The annual labor and rental costs is $200,000…
Q: When a firm takes the short-down decision?
A: Shut down is a situation when it is better for the firm not to produce instead of producing.
Q: E. Formulate this as a linear program. F. Solve the problem in (E) and round-off the solution and…
A: Answer E) Linear Program formulation is as follows: Decision variables: H = Number of workers hired…
Example of law if Diminishing Returns
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