Use the table above to answer this question. If the market price is $80, what is the profit-maximizing output and will be the firm profit or loss?
Q: A country has an absolute advantage in the production of a good if it can _____ of the good than…
A: A country is said to have absolute advantage in producing specific good or service if it can produce…
Q: Whose interest should be paramount concern of government trade policy- the interest of producers…
A: I hope that the policy that the government is putting in place will not only help the producers but…
Q: The table below contains data for country A for the year. Household purchases of durable goods…
A: Gdp is the composition of C+I+G+NX. We have C household purchases of durable goods + household…
Q: Refer to Figure 1. The imposition of the $20 tax causes the price paid by buyers to
A: Equilibrium in the market occurs at the intersection of market demand and market supply curve. The…
Q: Expected inflation is 3%, and initially the output gap is zero (percent). A(surprise) tariff…
A: According to the question, it is given that : Expected Inflation = 3% Cost-Push Inflation = - 0.5%…
Q: The following graph shows the aggregate demand curve (ADAD), the short-run aggregate supply curve…
A: Aggregate Supply is the total quantity of all goods and services produced in an economy at all…
Q: Simple majority rule can generate inefficient outcomes because It does not register the…
A: Voting is a process that can be used by a group, such as an electorate or gathering, to arrive at a…
Q: +Cash Flow -Cash Flow O 10 O 3.82 EOY O 30.13 Find the unknown value Q from the given information…
A: Cash flow alludes to the net balance of cash moving into and out of a business at a particular…
Q: Refer to the table below. During which years did the country have a budget surplus? Year Government…
A: When the government's revenue from taxation exceeds its spending for the quarter or fiscal year,…
Q: Jamie owns a Nail Salon. The marginal product of the labor Jamie employs (MPL) is equals 20…
A: Marginal product is the change in total product due to an additional unit of input. Marginal…
Q: Suppose there is some hypothetical economy in which households spend $0.50 of each additional dollar…
A: The marginal propensity to save is the proportion of family income that is saved for each extra…
Q: With reference to measurements of the dimensions of the Human Development Index which of the…
A: Human Development index is a tool that collectively measures the life expectancy, education and per…
Q: What are the ethical issues of having increased automation in the workplace?
A: A moral dilemma that has to be resolved might occur in corporate refers to the ethical issue . In…
Q: 1. Give 2 main causes of income inequality in the Philippines & explain each of them thoroughly. 2.…
A: Numerous studies point out that since the middle of the 2000s, the expansion of secondary education,…
Q: Q2 Michelle is in shoe industry. She has 10 regular employees and 3 seasonal/hourly employees,…
A: Total cost is the sum of fixed and variable cost. Fixed costs are the total obligations of the firm…
Q: If the economy struggles in 2023 Lincoln Electric will seedemand ____________ for its products.…
A: The two most fundamental ideas in economics used to comprehend consumer and producer choices are…
Q: Luke is an engineering consultant who lives North Carolina and works around the world. In 2019 Luke…
A: GNP: Gross National product is the sum of the monetary values of all goods and services that are…
Q: If there are externalities leading to underproduction of a given good, command and control methods…
A: Introduction: Externalities: Costs or benefits that a producer creates but does not directly benefit…
Q: Entrepreneurship is unique among factors of production because it
A: Land, Labor, Capital and Entrepreneurship are usually four factors of production that are used to…
Q: The expected real interest rate on bond will be less than the realized real interest rate if a…
A: Real interest rate doesn't include inflation. It is calculated by subtracting the inflation rate…
Q: Benefit–cost analysis requires the monetization of all relevant benefits and costs of a proposed…
A: A technique for calculating the value that a person places on something is called contingent…
Q: QUESTION 5 "Suppose the parameters of the IS curve are a-0,b-3/4, and r= 2%. Suppose further that…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Billy Penny is trying to determine how many units of two types of lawn mowers to produce each day.…
A: Two lawn mowers are given:- Standard and deluxe To calculate:- Unit of each product=? Please find…
Q: When a tariff is imposed on a good, the price to consumers rises; rises falls; falls falls; rises…
A: When the tariff is imposed on a good the price for the consumer increases because it is like a hike…
Q: Determine the maximum number of i* values for the cash flow shown below Expense Cumulative CF…
A: In contrast to an investment with a negative NPV, which would result in a financial loss, one with a…
Q: Problem 8 (Marginality Principle and Profit Maximization II). Correct the following statement. "If…
A: The profit is maximized where the MR = MC. The MR or Marginal revenue refers to the change in total…
Q: The tangent point between the isocost and isoquant shows: Select one: O a. MPL MPK O b.…
A: A firm will produce where the average total cost of production is minimum. This is the tangency…
Q: An economy has full-employment output of 6,000. Government purchases, G, are 1,000. Desired…
A: National saving can be thought of as the amount of remaining income that is not consumed, or spent…
Q: Use a diagram to show that the Nash bargaining solution satisfies the independence of irrelevant…
A: To see the if the assumption of irrelevant alternatives hold we take an example with following…
Q: Higher savings means a lower demand for goods and services. Use the DD-AA model with flexible…
A: DD-AA model studies the changes in the exchange rate due to changes in the aggregate demand of an…
Q: 5) As the price of a frozen banana increases from $3 to $5, quantity demanded for ice cream…
A: Substitute goods are those goods in which when price of one good increases , the demand for other…
Q: Why is a common resource overused? CEE A common resource is overused because A the marginal social…
A: A common resource is a resource that is available to everyone. Users get benefits from it but its…
Q: The average monthly balance in Yolanda's bank account is $1,800. Yolanda spends the same amount of…
A: The demand for money makes sense of the craving of individuals for a positive amount of money. Money…
Q: The consumer price index is used to: a. Track changes in the level of wholesale prices in the…
A: Inflation refers to the increase in the prices of goods and services over a period of time, it is…
Q: 1. Give 2 main causes of income inequality in the Philippines & explain each of them thoroughly.
A: Numerous studies point out that since the middle of the 2000s, the expansion of secondary education,…
Q: 4. Consider the following utility function of a consumer: u(x₁, x₂) = a ln x₁ + (1 - a) ln x₂ where,…
A: Engle Curve: Engle curve for a good shows different combinations of demand for the good and…
Q: Refer to Figure 11.2. An increase in the money supply, ceteris paribus, will likely Group of…
A: The increase in money supply means the rightward shift in money supply curve and vice versa. The…
Q: its short-run supply function is given by (a) q = 3Pw. (b) q = 3P/w. (c) q = P/(3w). (d) q = 3w/P.
A: In order to find the supply curve first and foremost there is a need to find the optimum amount of…
Q: Question 27 Refer to Figure 1. Suppose the per-worker production function in the figure above…
A: A production function refers to the maximum set of output(s) that can be produce with a given set of…
Q: A drawback of the linear probability model is that the error terms do not have a normal distribution…
A: The linear regression model with the binary dependent variable is called the "Linear Probability…
Q: 7. As the COVID-19 alert levels ease, more food-related establishments are operating while more…
A: In economics, "demand" means how likely a consumer is to buy something at a certain price. The word…
Q: When the reserve requirement changes, which of the following will change for an individual bank?…
A: Reserve are the part of deposit that is kept by the bank. Multiplier = 1/r r is the reserve…
Q: What factors will shift the supply and demand for currency?
A: According to economic definitions, money is a good that acts as both a store of value and a means of…
Q: What is the effect of a decrease in population (perhaps caused by the plague) on the market for…
A: The market is said to be in equilibrium when there is no pressure on the market price to change.…
Q: As the pandemic has waned the demand for airline ticketshas increased. If the price elasticity of…
A: The measurement of change in the quantity required of a good owing to changes in the determinants of…
Q: For a cost minimizing firm, what is the price of capital If the price of labor is $8 and the…
A: Equipment and machinery employed in the production process are referred to as capital factors of…
Q: Why do perfectly competitive firms avoid using advertising? O. They can sell all they want at the…
A: Advertising is the sales promotion strategy used by businesses to raise product demand. Advertising…
Q: If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) =…
A: The average cost is the per unit cost of the output produced. It is calculated using: Average Cost =…
Q: 9. Antitrust laws Cooperation among oligopolies runs counter to the public interest because it leads…
A: Governments has developed Antitrust laws to restrict unlawful practices among business enterprises…
Q: Mary is paid on the 1st of every month and her rent is due on the 15th of every month. This is an…
A: money management alludes to how you handle all of your funds, from planning to effective money…
Step by step
Solved in 2 steps
- How do we calculate the total amount of pagecant costs, price profit, profit make up and selling costsHere's the table showing quantity and total cost Q - 0, 1, 2, 3, 4, 5 TC - 8, 9, 10, 11, 13, 19 Calculate MC.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. $150
- What 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 4,200GivenMonthly rent25,000Monthly Salary/employee10,000Market price of slippers520Total units sold20,000 Solve for the followingTotal RevenueTotal CostProfit/Loss (indicate if its a profit or loss)Find the value of X. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $5,000| $1,000 $1,000 $4,000 10 ***** **** 25 8000 40 11300 X 55 15050 19700 70 $220 $1000 $4000 $10,300
- answer the attaced questionTeresa is a hard-working second-year university student. One Thursday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Teresa's second hour of work, from 9:00 AM to 10:00 AM, is The marginal gain from Teresa's fourth hour of work, from 11:00 AM to noon, is problems. problems. Later, the teaching assistant in Teresa's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 35 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during…For Problems 15-17It costs a company $500,000 to produce 1,000 treadmills. The company’s cost will be $500,350 if it produces an additional treadmill. The company is currently producing 1,000 treadmills. A) What is the firm’s average cost for 1,000 treadmills? B) What is the firm’s marginal cost for the 1,001 treadmill? C) A customer is willing to pay $200 for the 501st treadmill. Should the company produce and sell it? (Enter yes or no and briefly explain your reasoning)
- Typed plz and asap please I want quality answer so I can give better feedback I don't want any AI answer PleaseFind the value of Y. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $1,000 $1,000 $5,000 $4,000|********** 10 25 8000 40 11300 Y 55 15050 70 19700 $1000 $2000 $4000 $7000Quantity of Utensils demanded Revenue Price of Total Marginal Utensil Revenue $50 100 $45 200 $40 300 $35 400 |$30 500 $25 600 $20 700 $15 800 $10 900