In one to two sentences, explain whether it makes sense for a business to increase its output from 13 units to 14 units? Output Total Cost Revenue 8 $7,000 $13,500 13 $17,000 $23,500 14 $19,000 $24,500
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- In choosing a production technology, how will firms react if one input becomes relatively more expensive?The total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity adriveways cleared) Abbreviation Formula: Total Revenue TR Total Cost TC $0 $25 20 30 40 50 60 70 80 34 41 46 49 51 54 60 70 95 145 10 100 What is the total profit of cleaning five driveways if the price Mr. Plow can charge is $10 per driveway? s 01/21 VIEW sOLUTION O OF 21QUESTIONS COMPLETED 28 MacBook Pro 59The 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?
- QUI The figure below depicts the production function of grain for farmers under average growing conditions with the currently available Noi technology. Mar 9007 PF 800- 700- 600- 500- 400- 300- 200어 100- o Slope 732,000/ 1,600 = 458 04 400 800 1200 1600 2000 2400 2800 Number of farmers Select one or more: In a year with exceptionally good weather conditions, the production function curve will be higher and parallel to the curve O a. above. O b. A discovery of new high yielding crop seeds would tilt the production function curve higher anti-clockwise, pivoted at the origin. O C. In a year of bad drought the production curve can turn downwards for large numbers of farmers. O d. If there is an upper-limit on the amount of grain that can be produced, then the curve will end up horizontal for large number of farmers. S Type here to search 25 hp t4 15 16 eSC 5 6. 7. 00 %24 3. . ........ Kilogrammes of grain produced (thousands)Josh and Alex work as design engineers creating high-end lighting fixtures. After one particularly enlightened afternoon, they decide to follow their dreams and open a cupcake bakery. Please sort their various costs, listed below, into the correct category. Implicit Costs Not a Cost Explicit Costs ! Q A N Ⓒ2 Advertising space taken out on a social networking website The money they pay their neighbor's six year old son to deliver cupcakes to their customers. W S 12 #3 16 80 F3 E D X C $ 4 888 F4 R his previous job designing The salary Alex earned in lighting fixtures. LL 25 % U The garage space used for baking that can no longer be rented out to a college student FS T Da A 6 V B Y Supplies like sugar, butter and baking trays G H Ⓒ Previous Check Answer Next Exit 87 & 44 N 17 U J * 8 ∞ 3 14 9 K → 19 O 1 AA F10 PQuantity 0 1 2 3 4 5 6 7 8 Total Cost $60 90 109 125 140 160 184 210 240 TVC AVC 49 $0 30 30.00 90.00 24.50 54.50 65 21.67 41.67 16 80 20.00 35.00 15 100 124 150 AC -LL_ 20.00 32.00 MC 21.43 30.00 180 22.50 30.00 30 19 20.67 30.67 24 20 26 30 Given the costs above, what is this perfectly competitive firm's total profit* when the market price is $15? *Note: Be sure to use a negative sign if the firm incurs a loss.
- Course dashboard Soru 15 SCENARIO 1 You are the owner and only employee of a company that writes computer Henüz software that is used by gamblers to collect sports data. Last year you earned a total revenue cevaplanmadı of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business 4 üzerinden you invested an amount of your own capital that could pay you a return of $40,000 a year. ışaretlenmiş Refer to Scenario 1. During the year your economic costs were P Soruyu işaretle Lütfen birini seçin: O A $30000 OB$130000 O C.S 60000 ODS 40000 O ES 100000 SONRAKİ SAYFA ÖNCEKİ SAYFA 日 O Aramak için buraya yazın4 Long Run Production Capital labor Units Qty $3,000 5 32 outputs % inputs % change - change returns to Scale - $5,000 10 40 100 25 increasing $7,500 12 90 20 125 decreasing $8,000 13 110 8.33 22.22 decreasing $9,000 15 125 15.38 13.636 increasing $11,000 16 130 6.66 4 increasing $11,700 18 320 132 12.5 1.54 increasing 300 280 260 240 220 200 edited 180 160 140 120 100 80 60 For my long run production I wanted to see the different out comes if I my and capital variable After doing so! was able to calculate my output & input % change using the formula (original-new) original Х labor cost per duvet cover 40 20 10 20 30 40 50 60 70 80 90 100 120 130 140 150 160 qty of duvet covers (per month 100Output TFC TVC TC MC ATC A 25 25 ---- -- ------- 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 2nd unit of output? Cannot be determined. 15 25 30 O O O O
