Q: do fast
A: The objective of the question is to find the salvage value (SV) that makes the sum of the cost and…
Q: Consumer Surplus Producer Surplus Neither о Identify whether each of the following statements best…
A: Consumer Surplus refers to the surplus available to the buyer. It is calculated as the difference…
Q: Use the price-demand equation to find E(p), the elasticity of demand. x= f(p)=90-0.8eP E(p)=
A: The price elasticity of demand is given as
Q: Price level targeting: (1-7) Pe+YPO + (1+ yt) 12' 1 2π* Inflation averaging: (1) S Pt+Pt-s+12 where…
A: Central banks use price level targets to keep prices stable over the long term, which helps the…
Q: Calculate the value of the money multiplier in each of the following situations: Banks hold no…
A: Required reserves and money multiplier:The required reserve ratio of a bank depicts the minimum…
Q: 6. Fred found that fine flowers grow faster with fertilizer. In one month, Fred can harvest between…
A: Dear student, find a detailed answer and step by step solution in the explanation part…
Q: If this firm maximizes profits, how much will they produce? Answer: 5 X
A: The marginal revenue is the revenue acquired by the producer by selling an additional unit of good.…
Q: Upvote for correct and downvote for incorrect answer Moral hazard in equity contracts is known as…
A: The concept of moral hazard in equity contracts refers to a situation where one party, typically the…
Q: Refer to VWQ7 Q8. The picture below shows 4 short-run average total cost curves (SRATC), one for…
A: Short run average cost is the total cost of production of a single unit of goods. It is affected by…
Q: 1. Consider a monopoly firm with the total cost function C(q) = 120 + 6q and the inverse market…
A: Since you have posted multiple questions, we will provide the solution to only the first question as…
Q: Exhibit: Deposit Expansion Stages What is the required reserve ratio? Group of answer choices 1)…
A: The reserve ratio is the ratio or percentage of the deposits that the banks are required to keep to…
Q: It costs $27,000 to retrofit the gasoline pumps at a certain filling station so the pumps can…
A: The answer is in the explanation.Explanation:1. Calculate the Monthly Profit: The monthly profit…
Q: 2. The Demand Elasticity at the (11,000, $300) point is equal to Elasticity of Demand formula) and…
A: The demand curve represents the quantity demanded by consumers at different price levels. The price…
Q: 15. Which of the following statements about the 'Stag Hunt' game is true? (a) The pure strategy Nash…
A: The Stag Hunt game alludes to a two-player game where every player can decide or choose to hunt a…
Q: 15. Given the data provided in the table below, what will the marginal revenue equal for production…
A: Marginal Revenue (MR) is the additional revenue that is gained from selling one more unit of a…
Q: Acid rain pollution is produced from two sources, a power plant and a smelter. Studies show that the…
A: Demand measures the willingness and the ability of the individual to pay for the commodity. The…
Q: Suppose a company has fixed costs of $40,800 and variable cost per unit of x+222 dollars, where x is…
A: The fixed cost is given as $40800The variable cost per unit is The selling price of the product is
Q: What factors affect the cost of production in the long-run? Pick all that apply Multiple answers:…
A: The inputs such as capital, labour and land are used to produce and output in the market is known as…
Q: Problem 3. Consider a world with only two countries, which are designed to home (H) and Foreign (F).…
A: "As per the policy, the first three sub parts are answered. Kindly raise the question again for the…
Q: Please answer in detail according to the picture. Find µ*. What is its interpretation? Find əc/əy…
A: Parameters:w (wage rate), r (rental rate of capital), y (desired output level).α and β are the…
Q: Table 6.2.1 gives the supply and demand schedules for teenage labour in Genoa City. In an…
A: The unregulated market refers to free market system where the market forces of demand and supply…
Q: 1) Why did you make the choices you did? What are the costs and benefits of these choices? 2)…
A: The main problem is managing your personal finances efficiently within the stipulated time frame as…
Q: do fast
A: The objective of the question is to determine the amount that SINCO Ltd. could claim for…
Q: **Practice** Consider a profit-maximizing multinational pharmaceutical company that uses a rare…
A: The correct answer is e. More than one statement is correct.Explanation:Let's analyze each…
Q: Consider the extensive form game portrayed below. The top number at a terminal node is player 1’s…
A: Subgame perfect nash equilibrium is a form of nash equilibrium used in dynamic games. It provides…
Q: Questions for Chapter 7 Following figure shows the demand and supply curves in Olive Oil market ↑…
A: We have given the demand and supply graph. The demand curve passes through the points (0,20) and…
Q: The Federal Reserve decides to buy bonds and there is a change in the equilibrium bond price. What…
A: The Federal Reserve is the central bank and its role is to maintain price stability, i.e., the…
Q: equilibrium
A: Game theory is a department of mathematics and economics that studies choice-making in interactive…
Q: **Practice*** Amy and Bob are playing the following board game:(I) Amy starts. She has three…
A: a. There are 6 subgames.Explanation:Option a: There are 6 subgames.This option is correct or…
Q: 2. Solve for the short-run profit maximization problem for f(x1, x2) = 2x1 + x2 and f(x1, x2) =…
A: Lagrange multipliers can be used to solve this problem and determine the ideal input levels (x1 and…
Q: **Practice** Consider a market with three firms. Each firm has a different cost function. We assume…
A: In oligopoly market structure, there are handful of suppliers and numerous buyers. Firms compete…
Q: Price of A Used S.U.V. Now show the change in the market for a used S.U.V. that is consistent with…
A: The demand curve represents the quantity demanded by consumers at different price levels.The supply…
Q: Explain and show graphically how monetary and fiscal policies can be used in a closed economy IS-LM…
A: In a closed economy IS-LM model, the IS curve represents the equilibrium in the goods market and the…
Q: 4. Miguel and Jake run a paper company. Each week they need to produce 1,000 reams of paper to ship…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 1. In Figure 7.1, panel (c) shows the case where Country 1 has higher output than Country 2 because…
A: Production function signifies the technical correlation between inputs and output associated with…
Q: The following graph shows the demand (D) for gas services in the imaginary town of Utilityburg. The…
A: A natural monopoly is a monopolist which enjoys very low cost of production and therefore offers…
Q: Alter the interactive graph in order to witness how an upward shift of the MP curve affects the…
A: Monetary policy is the set of actions to control the nation's overall economic growth and money…
Q: A monopolist with total costs C=8Q sells to a market where demand is P=28-Q a. Compute the…
A: In a monopoly, a single supplier dominates the market, setting prices and limiting production. In…
Q: The nominal interest rate is 14% compounded semiannually. What amount will need to be deposited…
A: The answer is in the explanation.Explanation:The nominal interest rate is 14% per annum, compounded…
Q: PRICE $4 Supply Demand 10 QUANTITY (units) In the market shown in the graph above, at a price of $5,…
A: Market equilibrium refers to a scenario at which the quantity demanded is equal to the quantity…
Q: Refer to the table. Planned Planned Consumption Saving Planned Real GDP Investment $6,000 $1,000…
A: It shows what portion of income(Y) of individuals belongs to saving(S) rather than spending or…
Q: 28. (Figure: Three Firm Oligopoly in the Coal Mining Industry) Use Figure: Three Firm Oligopoly in…
A: A market that has a small sum of suppliers is referred to as oligopoly markets The interdependence…
Q: Figure 5-6 Price 22 20- A 18+- 16+ 14 B 12 10 8 C 6 4 Demand ← 100 200 300 400 500 600 700 800 900…
A: Revenue refers to the total amount of money created by an organization from its business works out,…
Q: Suppose the figure to the right represents the market for cotton. To help reduce debt, the…
A: This can be described as a concept that shows the contribution of an individual, organisation or any…
Q: Which of the following would increase the consumption component of U.S. GDP? Select one: OA. A Baton…
A: GDP refers to the gross domestic product that refers to the monetary value of all final goods and…
Q: Given the following functions for shoe factory in Ohio: fi: Qa=2(90 - P) : P = 4Qs Where Q is…
A: Note: Since you have posted a question with multiple sub-parts, we will provide the solution only to…
Q: Suppose that a paper mill "feeds" a downstream box mill. For the downstream mill, the marginal…
A: Marginal Revenue (MR): Marginal Revenue is the additional revenue that a firm earns from selling one…
Q: In the accompanying figure, labor costs $60 per unit. The manager wants to produce 2,500 units of…
A: The optimal input (labor-capital) combination arises at a point where an isoquant is tangent to an…
Q: C=800+0.8Y XN=500 -0.2Y I = 1200 G=2000 Refer to the information above to answer this question. What…
A: The (Aggregate demand) measures the total demand for goods and services in an economy. It sums up…
Q: ******ONLY ANSWER PART 3 IN PICTURE PLEASE**** Demand for Thunder games in Oklahoma City is given…
A: The marginal cost of production measures how much the overall cost increases when a company makes…
Step by step
Solved in 5 steps
- Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150How do we calculate the total amount of pagecant costs, price profit, profit make up and selling costs12 st L8 Get & Transform Data 4 6 7 1 2 Available Product 3 8 9 10 11 12 13 A 14 15 16 17 18 19 20 All :X ✓ fx B Pounds made Workbook Links Queries & Connections 3000 Flour (ounce) 1500 Egg (piece) 4500 Labor (man-hour) Unit Price Variable Cost Demand UCM Adiucted C 3.2 1.5 6 D $12.50 $6.50 960 $6.00 2.6 1.5 5 Data Types $11.00 $5.70 928 $5.30 E 1.5 1 4 <1 $9.00 $3.60 1041 $5.40 F 0 0 0 0 Banana Muffin Choc Muffin Banana Cookies Choc Cookies Milk Bread White Bread 0.7 0.3 0.5 0 2.5 1.5 $6.00 $3.00 $2.20 $1.20 1084 1055 $3.80 $1.80 AV 0 0.8 1 3 G $7.00 $2.80 977 $4.20 Sort & Filter H Advanced 0
- The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. What is the total revenue of the profit maximising firm in the short run? a) R720 b) R800 c) R960 d) R2 000 20 2 Cost, price (Rand) MC I 100 60 80 Output per day AC AVC Price+ Output Variable Total AFC AVC ATC Marginal Price Cost Cost Cost $100 300 $150 350 $210 410 $300 500 $430 630 1 2 3 4 5 6 7 $600 $819 800 1019 180 170 160 150 140 130 120 Total Revenue MR Assume the producer was planning to produce a quantity of six units. What would you advise the producer to do in terms of production and pricing to maximize their profit? Provide an explanation of your reasoning. Be specific in your price and quantity targets.Macmillan Learning Quantity (units) Fixed cost ($) Variable cost ($) Total revenue ($) 10 100 11 100 12 888 36 1,000 74 1,100 100 145 1,200 13 100 14 100 15 100 16 100 17 100 88888 202 1,300 300 1,400 435 1,500 588 1,600 774 1,700 a. What is the marginal revenue received from the 11th unit? b. What is the marginal cost of producing the 11th unit? $ c. What price does this firm charge for each hard drive? d. How many units should this firm produce to maximize profits? e. When profit maximizing, what is this firm's profit? $ per unit units
- IIT Ball Bearings Inc. faces costs of production as follows: Quantity Total Fixed Cost Total Variable Cost 100 100 100 100 100 100 100 1 50 70 90 140 200 360 3 4 5 (A) Calculate the company's average fixed costs, average variable costs, average total costs, and marginal costs. (B) The price of a case of ball bearings is $50. Seeing that she can't make a profit, the Chief Executive Officer (CEO) decides to shut down Operations. What are the firm's profits/ losses? Was this a wise decision? Explain. (C) Vaguely remembering his introductory economics course, the Chief Financial Officer Tells the CEO it is better to produce 1 case of ball bearings, because marginal revenue equals marginal cost at that quantity. What are the firm's profits/losses at that level of production? Was this the best decision? ExplainWhat is the total cost associated with producing eight units of the control varlable, a (identify point B in the tablej? 34 Marginal Harginal Harginal Net Bеnefit Control Total Net Costs Benefits Benefit Total variable Benefits Cost Sepped B(Q) C(Q) MB(0) MC(0) MND (0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 1,000 1,500 400 500 2,000 2,000 1,800 1,400 4 600 200 3,500 500 3,900 2,100 D 600 -200 4,200 4,400 4,500 2,800 300 700 -400 800 200 800 -600 4,500 100 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 3,000 3,600 3,800 4,200You’ve been given a firm’s production and cost functions:p = 132 −2qMC = 12 + 4q(a) Assume this firm is in a perfectly competitive market. Calculate the equilibrium price andquantity.(b) What is the firm’s profit here?(c) Assume this firm is in a monopoly market. Calculate the equilibrium price and quantity.(d) What is the firm’s profit here?(e) Give an example of a perfectly competitive agricultural market, and give an example of amonopoly agricultural market.
- The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 260 240 220 200 180 160 140 120 100 80 60 40 20 0 0 9 18 27 A X B Demand 36 45 54 63 72 81 QUANTITY (Scooters) 90 99 108 117 Total Revenue ?1. The cost function for a commodity is given by C(x) - 200+12x+0.1x² (S) and the demand funct is p-300-0.02x ($/unit) where x- quantity (demanded and produced). (a) What is the profit function for this commodity? (b) Find the marginal profit function. (c) What is the marginal profit when x-10?! (d) What does this marginal profit tell you? (e) Find the level of demand at which profit is a maximum. Show how you do this using calculus. (1) What is the maximum profit, and what is the selling price that realizes this profit? Ans: R(x)-300x-0.02x², P(x)=-0.12x² +288x-200, P'(10) - 285.6 (S), approximate increase in profit from selling one more unit when sales are at 10 units, solving P'(x)-0 gives max at unit. x-1200 units, max profit - $172,600, price = 300-0.02(1200)-$276 perDescribe the various cost components that affect the retailgasoline price?