1. An economy has two sectors: Electricity and Services. For each unit of output,Electricity requires 0.8 units from its own sector and 0.3 units from Services.Meanwhile, Services require 0.4 units from Electricity and 0.6 units from itsown sector to produce one unit of Services. The production vector necessary tosatisfy a final demand of 1,000 units of Electricity and 2,000 units of servicesis (a, b). What is a+b?1. 8,5002. 9,0003. 9.5004. 10,0005. 10.500

Correct Answer and CalculationsThe correct answer is 1.8,500.Here's how to solve the problem using…

Answered: 1. An economy has two sectors:…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. The function of a company's product to produce output at the level of input use is Q = -1/3x3 + 9x3 + 70. If the input price x used is IDR. 800, - per unit, while the output price is IDR. 10, - per unit, specify: a. The amount of input that must be used by the company in orderto produce the amount of output that provides maximum finance! How much is the output? b. What is the average size of the company?
A company produces and sells a product. The company has found that the costto produce x units of the product is given by C(x) = 50x + 200 (in dollars),and the revenue from selling x units is given by R(x) = 100x - x? (in dollars).What is the number of units the company should produce and sell to maximize profit
Problem. 9: A simple economy consists of two industries, services and manufacturing. The production of 1 unit of services requires the consumption of 0.2 units of services and 0.3 units of manufacturing products. The production of 1 unit of manufacturing products requires the consumption of 0.4 units of services and 0.3 units of manufacturing products. (a) Find the total output of goods needed to satisfy a consumer demand of $ 140 million worth of services and $ 150 million worth of manufacturing products. (Round your answers to two decimal places.) services ? million manufacturing products $ ? million (b) Find the value of goods consumed in the internal process of production in order to meet the demand. (Round your answers to two decimal places.) services ? million manufacturing products ? million %24 %24 24
You are an industry analyst that specializes in an industry where the market inverse demand is P = 100 - 2Q. The external marginal cost of producing the product is MCExternal = 8Q, and the internal cost is MCInternal = 18Q.Instructions: Enter your responses rounded to the nearest two decimal places.a. What is the socially efficient level of output? unitsb. Given these costs and market demand, how much output would a competitive industry produce? unitsc. Given these costs and market demand, how much output would a monopolist produce? unitsd. Which of the following are actions the government could take to induce firms in this industry to produce the socially efficient level of output.Instructions: For correct answers place a check mark. check all that apply Nonrival consumptionunanswered Pollution taxesunanswered Pollution permitsunanswered
(1)Use the graph to answer the question that follows. Based on the chart above, if the product sells at a price of $3 per unit, what is the marginal revenue product of the second unit of labor? A-$30. B-$45. C-$90. D-$120. E-Indeterminate (2)The number of units of output that a machine will produce increases, ceteris paribus. How will this change in productivity affect demand for the machine? A-Demand for the machine will increase. B-Demand for the machine will decrease. C-There will be no change in demand for the machine. D-Demand will not change, but quantity demanded will decrease. E-Demand will not change, but quantity demanded will increase.
Suppose a ceiling fan manufacturer has the total cost function C(x) = 35x + 1200 and the total revenue function R(x) = 65x. (a) What is the equation of the profit function P(x) for this commodity? P(x) = (b) What is the profit on 20 units? P(20) = Interpret your result. The total costs are less than the revenue. The total costs are more than the revenue. The total costs are exactly the same as the revenue. (c) How many fans must be sold to avoid losing money? fans
Suppose that real domestic output in an economy is 20 units, the quantity of inputs is 30, and the price of each input is $4. The per-unit cost of production in the economy described is Multiple Choice $6. $10. $8. $5
How much would be needed today to provide an annual amount of $50000 each year for 20 years, at 9% interest each year? a. $546,000 O b. $456,427 O c. $645,000 O d. $456,000
Let S represent the amount of steel produced (in tons). Steel production is related to the amount of labor used (L) and the amount of capital used (C) by the following function: S = 20 L0.30 C 0.70 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 50,000 tons of steel at minimum cost. If your answer is zero, enter “0”. Min L + C s.t. L0.30 C 0.70 L, C (b) Solve the optimization problem you formulated in part a. Hint: When using Excel Solver, start with an initial L > 0 and C > 0. Do not round intermediate calculations. Round your answers to the nearest whole number. L = C = Cost = $
Ay 3. Suppose the cost and the demand for a daily product is: C=10 d(p) = D(1 - w(p)) = 200-10p What is the total contribution (profit) based on the optimal price?
Suppose that the total cost function, in dollars, for the production of x units of a product is given by the equation shown below. C(x) = 4,500 + 30x + 0.2x² Then the average cost of producing x items is represented by the following equation. total cost 4,500 C(x) + 30 + 0.2x (a) Find the instantaneous rate of change of average cost with respect to the number of units produced, at any level of production. (b) Find the level of production at which this rate of change equals zero. X = (c) At the value found in part (b), find the instantaneous rate of change of cost and find the average cost. instantaneous rate of change of cost average cost What do you notice?
Consider a product market with three consumers A, B and C with demand function PA = 6 – QA, PB = 6 – 2QB and PC = 12 – QC respectively, where P is the price in dollars and QA, QB and QC are the quantities demanded by Consumer A, B and C respectively. The marginal cost of the product is constant at $4. (i) If the product is public good, analyse the product and determine the optimal quantity of the product in the market.(ii) How will your answer be different if the product is a private good instead? (Hi there, may I requst for a detailed step by step explanation as i struggle with this topic. Thank you)

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