Q: Explain why firms face different costs in the long run than in theshort run.
A: The firm is operated under Short-run means its production is for a short period of time for e.g. One…
Q: 2.6 Isabel runs her family's small pineapple processing plant, which takes fresh pineapples and cuts…
A: Cost of processing per pineapple Cost of processing total pineapple Machine maintenance per day…
Q: Use the following data to answer the question. The letters A, B, and C designate three successively…
A: By refering to the above table, In the long run, the firm should use plant size "A" for 10 to 30…
Q: Complete the table, assuming that labour and materials cost $8 an hour. For all $ amounts, round…
A: (a) Table Q Total hours Average hours=total hours/Q Marginal hours TVC =8× total hours…
Q: 2 (a) Why would a firm that incurs losses choose to produce rather than shut down?
A: In a market, there are different situations faced by the firms according to which they make their…
Q: 6. Consider in this question that the market for truffles operates in a free market economy. The…
A: Q VC FC TC 0 21,000 10 80,000 20 2,10,000 30 3,10,000
Q: Output TFC TVC TC MC ATC A 25 25 --- --- ---- -- В 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E…
A:
Q: Which of the following constrain (that is, limit) a firm's profits? I. its technology II. its…
A: A firm's profits is constrained by its technology, information and the market in which it operate.
Q: Suppose that firms in the zipper industry have the production technology: F(K,L)=4K^(3/4) * L^(1/4)…
A: Answer: Given: Production function: FK,L=4K34×L14 Cost/price of labor = 27 Cost/price of capital =??…
Q: S. Short-run supply and long-run equilibrlum Consider the perfectly competitive market for steel.…
A: For a serious firm, the vertical slanting piece of the MC curve is the Supply curve Thus, the supply…
Q: Based on the following table, which of the following statements is true? P TR MR TC MC $30 $15 ---…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: what are the three stages of production? explain with TP, MP, and AP graph
A: there are three stages of production that can be shown through varying slopes of total product(TP),…
Q: The accompanying table presents the expected cost and revenuedata for the Tucker Tomato Farm. The…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Graph the ATC and MC below and explain
A: The marginal cost (MC) represents the additional costs incurred in producing one extra unit of the…
Q: Following is the information available for Bubble Gums produced by Bano and Co. Output (Q) Labor…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3.Please resubmit the question…
Q: Christ Embassy Complete the hollowing coA schedules LoutPutTodalcostlAverage coA Marginal cost LCA…
A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Complete the following table (6 points): Quantity/Output Total Fixed Cost Average…
A: A cost function is an element of info costs and yield amount whose worth is the expense of making…
Q: What is kaly to happen in the long nun te fems that do net reach minimum efficient scale? Afm hat…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Use the figure below to answer questions 17 and 18 below: Price ATC AVC and MC cost PA P3 P2 Pr Q,…
A: Shutdown point:Shut down is the price level that is equal to the minimum of average variable cost.…
Q: 2.5 A firm's costs are given in the following table. TC TFC TVC AVC АТС MC $50 1 70 80 3. 90 4. 110…
A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…
Q: Please read the article attached below titled “Notable & Quotable: Gouging” (March 31, 2020) and…
A: A perfectly competitive market is a place where there are large numbers of buyer and sellers.…
Q: 2 Complete the following table Price Output (0fied cost Variable co Revenue Total Cos Marginal…
A:
Q: possible. 3.- If the marginal income is greater than the marginal cost, the competitive company…
A: 3. If the marginal income is greater than marginal cost, then it gives out a positive output.
Q: Economic costs are the sum of costs and costs O sunk; implicit O explicit; implicit O explicit; sunk…
A: Implicit Cost is the imputed cost, which is also referred to as opportunity cost that is given up by…
Q: In the table above, what is output (Q) when L = 2? Select one: a. 55 b. 65 C. 50 d. 70
A: When labor is 2 , output will be = output at labor 1 + Marginal production = 30 + 50 = 70
Q: Use the following data to answer the question. The letters A, B, and C designate three successively…
A: Plant 'C' ATC is below other ATC for output level 80 units and above so plant C should be used for…
Q: SE THE GRAPH TO ANSWER THE FOLLOWING QUESTIONS: (IF REQUIRED, USE THE DISCREET NUMBER OF BARRELS).…
A: The maximizes profits where the MR= MC. The MC curve cuts the AVC cost curve at its minimum point.…
Q: 4. Consider the table below which shows the total fixed costs (TFC) and variable costs (TVC) for…
A: The average cost can be calculated by dividing the total cost by the level of output. Marginal cost…
Q: A Managment instutute can operate for a maxium 12 hours .lectures are the outout of the institute…
A: A function affirms the connection between one info and one result, or many contributions to yield a…
Q: a. Complete the table by filling in the values for profit, marginal revenue, and marginal cost. b.…
A: Total cost is the cost incurred by the firm for the production of final goods. The cost is divided…
Q: 12. Suppose a farm in a perfectly competitive marke: produces and sellsa unis bl ou qutput and…
A: Given, Q=8 units (as 8 units are produced and sold), Marginal Revenue (MR)=RO 8
Q: 4. Fill in the table below. Assume that the firm uses 5 machines that have a price of $200 each per…
A: Total fixed costs (TFC) are the total obligations of the firm per time period for all fixed inputs.…
Q: 3. You own WYNELL's Fashions, which sells prom dresses. Your firm has the following cost schedule:…
A: The cost schedule of the firm producing the prom dress shows that the average cost of producing the…
Q: Does the state of mr=mc in a perfect competitive market mean that the firm is supposed to sell out…
A: Here the point E is the state of equilibrium between supply and demand. suppose the producer…
Q: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in Table 7.16 for…
A: Fixed cost is independent of output produced whereas variable cost varies with the level of…
Q: Part I Given that the marginal cost (mc) to manufacture an Iphone per day is represented by the…
A: Answer - "Thank you for submitting the questions .But, we are authorized to solve one question at a…
Q: Q Price TR AR MR TC MC Profit 0 30 70 5 27 135 10 24…
A: Total revenue (TR) is the product of P (the price) and Q (the quantity sold that could be sold at…
Q: The table below shows the cost data of a furniture manufacturer named Cindy’s Custom Made.a)…
A: Hi! thank you for the question but as per the guidelines, we answer only up to three subparts at one…
Q: Crawford Computing finds that its weekly profit, in dollars, from its production and sale of x…
A: Hi, thank you for the question. As per the Honor code, we are allowed to attempt only 3 subparts in…
Q: What are ways the profit arises in the changeable/dynamic word ? Comment
A: Answer: As we know that Idleness is defined as the state of being unable to do anything productive.…
Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…
A: Ike's bikers is a major manufacturer of bicycles. It currently produces bikes in one factory, and…
Q: How do you derive the marginal cost (MC) curve of a firm? b) How are average variable cost (AVC) and…
A: Marginal cost is the additional cost that is incurred in order to produce an additional unit of an…
Q: Use the data in the table to find the marginal cost of producing the 6th units of output. Q P TC TR…
A: Marginal cost refers to the additional expenses incurred when one more unit of output is produced by…
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: Cost basically refers to the total expense that occurs in a production process. It includes both…
Q: 16) Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q, where q is…
A: Marginal cost refers to the change in total cost with respect to change in output. Variable cost is…
Q: Complete the following table: Units TFC TVC TC AFC AVC AC MC 0 24 0…
A: Total cost (TC) can be computed as: TC=TFC+TVC Average cost (AC) can be computed as: AC=TCQuantity…
Q: How much will the firm produce in order to maximise profits at a price of £8 per unit and What…
A: With price of 8$, the profit maximizing firm in perfectly competitive market will produce 70 units…
Q: c. What is the average and marginal cost of gumball production (again, measure output in thousands…
A: Total cost is the sum of total fixed cost and total variable cost. The average cost is the total…
Q: 4. Complete the table below Output VC FC TC AVC AFC ATC 30 4 2 40 48 4 63 5 46 6. 70
A: Output VC FC TC AVC AFC ATC 0 - 30 30 - - - 1 4 30 34 4 30 34 2 10 30 40 5 15 20 3 18 30 48…
Q: Each graph illustrates three short-run cost curves for firms, where ATC is average total cost (also…
A: AVC is the average variable cost. It is equal to VC/QATC is the average variable cost. It is equal…
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- Given: C = 100 + 0.75Yd (where Yd = Y-T)I = 120-600iG = 200T = 20 + 0.2YMs/P = 300Md/P = 50+0.5Y-600i obtain equilibrium consumptionTom's income is 32. He consumes a single consumption good, C, which has a price of 2. His utility function depends on his marital status: when happily married, his utility is given byU=C^(1/2) When he is not married, his utility is given by U=0.5C^(1/2) a. Suppose that Tom is not currently married. What is his utility? Now suppose that Tom gets married.What is his utility? Assume Tom can spend all his income on his own consumption when he is married. b. Use compensating variation (CV) and equivalent variation (EV) to calculate the value of marriage to Tom. How do the two figures compare?Mega Partner is selling two products Marker(m) and Eraser(e) and their budget is given with thefollowing equation: 15Qe+ 30Qm= 3000. Now answer the following questions. I. Draw the budget line for Mega PartnerII. What would be the highest amount spend on Marker with the existing budgetIII. If Total budget increases to 4500 what would be the new budget line (use diagram)IV. If Price of the Marker becomes 15, how this changes the existing budget line keeping allthe values remain same.
- Ewa spends all her 600 PLN bonus on the purchase of sweets and cosmetics. Draw the Ewa's budget line, knowing that her favorite sweets cost PLN 10 per pack and the price of cosmetics is PLN 25. •How will Ewa's situation be affected by the PLN 50 bonus increase? •What will happen if the price of cosmetics increases to PLN 30? •How, from the point of view of initial situation, we will evaluate the following quantitative combinations: –30 packages of sweets and 15 cosmetics –60 packages of sweets and 24 cosmetics –20 packages of sweets and 10 cosmetics –10 packages of sweets and 15 cosmeticsa) You are given a utility function described as:U= U(K, L, M) = 10LogK + SLogL. + 2LogMWhere K, L and M are goods consumed. The individual has K100 to spend on the threeitems. Furthermore, you are informed that monthly salary is $500 and the prices of K, Land M are $2, $10 and $4 respectively. Calculate the consumer's optimal bundle.D.b) Provided a demand curve for Beans is as followsO = 4000 - 255PWhere Q is the quantity demanded and P is the price. Find the elasticity at K7, K10 and K15.Q = f(L) = 15L2 – L3 Price = 10Wage Rate = 270Graphically and mathematically show that the optimal input level is within the stage II of production. Calculate for the firm’s optimal output and maximum profit
- 24- In equilibrium, if a consumer gets 4 units of marginal utility from a pear and the price of a pear is 2 TL per kg, if he gets 6 units of marginal benefit from an apple, how much should the kg price of an apple be?a)6 B)2nd NS)5 D)3 TO)4Give typing answer with explanation and conclusion Grande Zot, Inc., an electronics manufacturer, sells its DVD players to Hi-Lo Retail Stores for $50 but charges It's Less! Store—which is located just down the street from Hi-Lo—$75 for the same players. This may be?(a) Dividing MUX and MUY by their respective prices compute the weighted marginal utility or marginal utility of money expenditure and draw up Table 2 showing diminishing returns for the consumption of the 6 units? (b) Briefly state what you can infer on this equation; MUX/PX = MUY/PY as far as equi marginal principle and managerial economics is concerned? C)Given that MUX/PX and MUY/PY are equal to 6 when 5 units of X and 3 units of Y are purchased. By purchasing these combinations of X and Y, calculate the amount the consumer will spend and derive the maximum satisfaction from combination of these units. (d) Applying the above principle illustrate in terms of a figure, and draw marginal utility curves for goods X and Y. You need to use marginal utility and price i.e. Marginal utility per Kwacha spent on good X = MUX/PX, and that of Y = MUY/PY. The MUX/PX curve should be shown in figure (a) while the MUY/PY curve should be shown in Fig (b). Please do not draw negative…
- 31- : If the total utility increases from 32 to 34 when the consumption of good X increases by one unit, what is the marginal utility? a) 5 B) 6 NS) 2nd D) 4 TO) 3Suppose the consumer's utility function is given by U(x,y) = X3/5y2/5, and the exogenous variables are given by M = 500, Px = 5, and Py = 4. Price of y changes to Py = 2. What is the income effect ony?O A.-14.53O B. +14.53O C. +24.21O D. +25.79O E. None of the above Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Co. XYZ manufactures a productand sells it for $8 per unit. Her fixedcosts are $5,000 and her variablecost per unit is given by the equationCalculate the equilibrium quantity qalgebraically. 2.444 (X)-2200 A. (q-800) B. q=900 C. (q 650) D. None of the above In the previous problem (27), calculate the amount ofequilibrium Total Income. A. 4,500 B.$3,000 C. $7,200 D. $9,000 In the above problem (27), calculate thebreak-even Total Cost amount. A. 4,500 B. $3,000 C. $9,200 D. 7,200 In the previous problem (27)determine the profit when q-1800.modes of A. $4,500 B. 5,000 C.$6,000 D. 7,000 In the previous problem (27), determine the gain when q-450. A. $2,500 B. -$2,500 C.$6,000 D. -$4,500 In the aboveproblem (27), find the required output (q), to make a profit of$10,000. A. 3,000 B. 4,000 C. 2,500D. 2,700
