Suppose a local retailer is running the following sale on jugs of detergent: $20 each or 3 for $56. The total cost or purchasing two jugs is The marginal cost of the third jug is ____. $60; $56 $56; $16 $56; $60 $40; $16 $16; $40 0000
Q: Jennifer is working on a word puzzle and is looking for four-letter "scrambles" form the clue word…
A: Jennifer is working on a word puzzle and is looking forfour-letter "scrambles" from the clue word…
Q: international textile company's North America Division must decide which type of fabric cutting…
A: Salvage value is the measured book value of an asset after depreciation is done, according to what a…
Q: a. b. C. QUANTITY 100 200 300 400 500 600 700 800 900 1000 d. 5 Demand 10 Refer to Figure. At a…
A: The quantity of goods or resources that exceed the portion that is utilized is the surplus. In other…
Q: 1. Does the first welfare theorem apply to the market for oil and gas? Explain your answer in one or…
A: The first welfare theorem is a fundamental concept in economics that states that under certain…
Q: Explain the consumption duality to derive Marshallian and Hicksian demand curves. Discuss why this…
A: Neoclassical economics is a wide theory that concentrates on supply and demand as the driving forces…
Q: Compare and contrast Pigouvian welfare economics and Paretian Welfare economics.
A: The allocation of goods and resources to promote social welfare is known as welfare economics. It is…
Q: Purchasing power parity (PPP) implies that exchange rate movements should mirror relative price…
A: According to the economic principle known as purchasing power parity (PPP), the usual exchange rate…
Q: Suppose that the residents of Vegopia spend all of their income on cauliflower, In 2014 they buy 100…
A: Given information: In 2014, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for…
Q: Evaluate the one specific law which states that the marginal utility of a good or service declines…
A: The additional pleasure or advantage that a consumer receives from consuming one more unit of an…
Q: Plot the following hypothetical demand and supply schedules for Good V. QUANTITY DEMANDED 1,100 900…
A: Equilibrium is a crucial notion in microeconomics because it appears to be a scenario in which…
Q: What do you understand by Economic Planning? Explain Planning by Combination of Direction and…
A: Economic planning is pursued across the world to attain certain objectives of the government. The…
Q: (i) The Chinese Renminbi (RMB) is very strong against the US dollar due to increased supply of…
A: A country's trade and the flow of money between nations are regulated by the exchange rate, which is…
Q: Game theory er a simultaneous move game with two players. Player 1 has three possible actions (A,…
A: There are two players : Player 1 & Player 2 Strategy Set of player 1 : { A , B , C } Strategy…
Q: Suppose that the world price of oil is roughly $50.00 per barrel and that the world demand and total…
A: Given - long run demand function is in form - Q1 = a - bP price = $50/barrel quantity demanded= 34…
Q: Complete the figure below with the appropriate terms. You do not need to edit the image simply…
A: The circular flow is the continuous movement of revenue, expenditure, and the production of products…
Q: The digital divide is a) Caused by lack of access to technology b) A big canyon in Northern Arizona…
A: Answer to the question is as follows:
Q: Under pressure from the Canadian and U.S. governments in the early 1980s, Japanese automobile…
A: A trade restriction on the quantity of a good that an exporting country is permitted to export to…
Q: In the context of intergenerational inequality, regression toward the mean is captured by which of…
A: Inter generational equity refers to the notion of justice or fairness between generations in…
Q: 11. A piece of earth-moving machine equipment was purchased at a cash price of P25,0000. The life of…
A:
Q: According to David Hume’s theory of automatic price adjustment, countries experiencing current…
A: David Hume established the automatic price adjustment mechanism to illustrate how imbalances in…
Q: The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…
A: One who sells on a market with no other competitors is known as a monopolist. He is the sole seller…
Q: The banking industry is impacted by changes in its external environment from political, economic,…
A: The banking industry operates as a network of financial institutions, which offers many services…
Q: The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…
A: Returns to scale quantify the shift in productivity resulting from a long-term increase in all…
Q: 9. The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…
A: A seller who has no other rivals in the market is said to be a monopolist. In the entire market, he…
Q: Assume that a monopolistically competitive industry is in the long-run equilibrium. Show the effect…
A: Monopolistic competition is a type of market structure.
Q: Engineering economics Alfredo Auto Parts has two options for increasing efficiency. It can expand…
A: Year Expansion Remodeling 0 -850000 -230000 1 175000 71000 2 195000 68300 3 215000 64790 4…
Q: A Corporation sold an issue of 20-year bonds, having a total face value of 10,000,000 for 9,500,000.…
A: Fundamentally, engineering economics entails articulating, calculating, and assessing the economic…
Q: f eggs and bacon are complements, then a decrease in the price of eggs will result in a decrease in…
A: Complements goods are consumed together by consumers. When two goods are compelements goods, a…
Q: Consider a simultaneous move game with two players. Player 1 has three possible actions (A, B, or C)…
A: "In game theory, a payoff matrix is a matrix which indicates the payoffs of players involved in a…
Q: (b) Over the past 8 years, PQR Sdn Bhd has placed varying sums of money into a special capital…
A: Effective Annual Rate (EAR) will be calculated as: i = (1 + r/m)m - 1where m stands for the number…
Q: The UK inflation rate is predicted to be 10% and the Eurozone inflation rate is predicted to be 6%.…
A: The rate at which one currency can be usually exchanged for another is known as the exchange rate.…
Q: Review the concept of overpopulation. What agricultural regions have relatively limited capacities…
A: Overpopulation means it is the process in which a species population becomes larger than the…
Q: Roles of Ethiopian commercial banks in international business
A: Financial institutions refer to those institutions whose main role is to help firms and people with…
Q: The price of comparable French wines decreases. One hundred new wineries open in California. The…
A: We are assuming ourselves to be managers of California winery. We have to identify the effects of…
Q: Calculate the Nominal and Real Exchange Rate Indices for the euro in periods 1 to 5. $/€ rate US…
A: The exchange rate that depicts the number of units of domestic currency (here, dollar) that is used…
Q: In the market for widgets, the supply and demand curve are "normal" 45° lines. The equilibrium price…
A: A market achieves equilibrium when widgets' demand and supply intersect. The price at this level is…
Q: How can FISCAL POLICIES help for a low-carbon economy?
A: Fiscal policies are policies that are used by the government to achieve various goals relating to…
Q: Ś 50 48 46 44 42 40 38 36 34 32 30 28 26 26 24 22 20 18 16 AVC ATC MC 14 12 10 8 6 4 2 0 0 0.5 1 1.5…
A: Here, the given graph shows the average total cost, average variable cost, and the marginal cost…
Q: Assume an economy that produces two goods experiences technological improvements in the production…
A: The production possibility curve represents the different combinations of two goods that can be…
Q: Why perfect competition is unrealistic Example of perfect competition Competitive market
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: It is estimated that at a large fertilizer plant the fixed costs are $245,101 and the cost to…
A: The Break Even Quantity is termed as the amount of additional units that a business must sell to…
Q: Consider the balance sheet for the DI listed below Assets Cash Securities Loans Total assets…
A: Asset Amount Liability and Equity Amount Cash 5 Deposits 68 Securities 20 Equity 7 Loans 50…
Q: A home video entertainment set is offered for sale for P18,000 down payment and P1800 every 3 months…
A: The cash equivalent is the present value of a future sum of money or a series of future payments. It…
Q: Two players play the following game for infinite times. For the player to continue to cooperate what…
A: In the game theory, each player focuses on maximizing its own payoff, given the payoff of the other…
Q: Use the supply and demand analysis of the market for reserves to visually illustrate and explain how…
A: The federal funds rate is the cost of borrowing from other depository institutions, whereas the…
Q: “The total demand for goods and services consists of consumption demand, investment demand,…
A: Aggregate demand: Aggregate demand or AD is a term associated with the Macroeconomic growth of an…
Q: 8. Agreement and disagreement among economists Suppose that Musashi, an economist from a college in…
A: Inflation is the rate of rise in prices over a specific time. Inflation is typically a broad…
Q: True/ False Marginal utility decline with the increase in the unit of consumption of a good.
A: Utility refers to the satisfaction or benefit that a consumer derives from consuming a good or…
Q: Exercise 4 (Bank regulation/ Basel accords Banks are regulated by e.g. Basel-II or -III-rules. a)…
A: The Basel Committee on Bank Supervision established the Basel Accords, a set of three agreements…
Q: a) Explain verbally and digramatically why Christmas trees are cheaply sold on Christmas Eve…
A: (a) The production of Christmas tree is done before Christmas. Now, on the day of Christmas eve for…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Bill runs a business that makes custom-printed towels. It will cost him $8 each to purchase and print on towels, and he will have to pay a rent of $1,700 per month for him workshop. Based on market research, Bill estimates that he can sell custom towels for $25 each. a) Calculate the number of towels he needs to sell per month to break-even. towels b) Calculate the break-even in dollars (round off to the nearest cent).You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long termHappy Go Lucky Electric Company is the only company providing electric power to the city of Go Lucky. The accompanying graph depicts their marginal costs (MC), total costs (ATC), demand (D), and marginal average t revenue (MR). Move point E to the firm's profit maximizing price and quantity. At the profit maximizing point, what is Happy Go Lucky level of profit? 0 $150 $90 -$30 Price and Costs ($/unit) 10 9 8 7 6 10 4 3 2 1 0 0 5 10 15 20 25 30 35 MR MC 0 ATC D 40 45 50
- The following graph shows the daily demand curve for bippitybops in Denver. 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 bippitybop) 240 220 200 180 160 140 120 100 80 8 60 40 20 0 mớ H + 0 9 18 27 36 45 54 63 72 81 QUANTITY (Bippitybops per day) * Demand 90 B 99 108 Total Revenue (?)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 ?A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…
- 6. esc A company sells one of its products for $42 each. The monthly fixed costs are $2700. The marginal cost of the product is $10. Let q=quantity and C(q) = cost. a) Express the total monthly costs, C, as a function of q, the quantity produced each month. C(q) = 9= :0: 21 O Express the total monthly revenue, R, as a function of the quantity, q, sold each month. R(q) = c) Find the quantity, q, produced and sold each month at which this company will break even. Round your answer to a whole number. F1 50,252 8. F2 20 F3 ITEMS 000 000 F4 F5 INFO MacBook Pro S F6 tv F7 RA ► 11 F8 W < Previous Nex F9 Instructions ^ F10 4) F11 €Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a bookstore inhis neighborhood. He now pays $500 in rent, $80 in utilities and $120 in wages every month. He also paysthe publisher $5 per book sold. This month Jeremy sold 100 books at the price of $30 per book.a. What was the total revenue this month? Calculate this month’s explicit fixed cost, the variable costand the total cost.b. How much accounting profit did Jeremy make?c. How much economic profit did Jeremy make?d. If Jeremy had not quit his job at the bank, he could have been promoted and got a pay raise of 30percent. How would this affect his accounting profit and his economic profit?Vintage Camera T Temple MIS G is You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term O drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long term
- Q.5 A firm is making two products A & B. Each unit of A incurs a cost of production to the tune of $150 and that of B incurs a cost of $200. Product A earns a profit of $15/unit and B gets $20/unit. The estimated monthly demand of both A & B is at maximum 500 units. Monthly production budget is set at $50,000.How many units of A & B should the firm make in order to maximize profit. Conduct sensitivity analysis and answer the following questions: 1. State the optimal solution. 2. What is the objective function value? 3. Find out the range of profit for A in the objective function for which the above solution remains optimal. 4. Which constraint/s is/are binding? 5. Interpret the shadow price for production budget.22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Suppose a consultant tells Ace it can sell 700,000 heel repair kits, what price must it charge to achieve a profit of $2.5 million? (Please show your calculation steps|1.6.1 A company manufactures and sells x dellphones per week. The weekly price-demand and cost equations are given below. p= 400 - 0.5x and C(x) = 20,000 + 140x (A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximum weekly revenue? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly revenue is $ (Round to the nearest cent as needed.) (B) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly profit? What is the maximum weekly profit? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly profit is $ (Round to the nearest cent as needed.)