A textile firm in a competitive industry employs a particularly efficient manager to run the operations at its production facility. In the textile industry, a plant manager typically makes a salary of $4,500 per month. The textile firm employing the superior manager faces the LAC and LMC curves shown in the figure below. In long-run competitive equilibrium, the price of the product is $9. D-If the superior plant manager also owned the textile firm, she would earn $___________ of economic profit.

Q: Which one of the following accounting system gives information regarding the savings of the communit...

A: National income can be defined as the total value of goods and services produces within a year in an...

Q: Consider the following payoff matrix. L C R U 6, 3 3, 4 7, 2 1 D 3, 4 | 6, 2 8, 1 What is the probab...

A:

Q: Give ideas/ways that the UN Member States look into to properly ameliorate the issue of women’s acce...

A: There are many measures that can be taken in order to provide protection for women on the ground of ...

Q: 3. Types of unemployment The three people described in the following table are categorized as unempl...

A: unemployment, the state of one who is equipped for working, effectively looking for work, however in...

Q: A simple macro-economic model is given by Y = C+1+G C = 10 + 0.4Yd | = 25+ 0.2Y Yd = Y -T T= 10 + 0....

A:

Q: At Jody's bakery they are currently selling 400 loafs of bread. It cost them $4,000 to buy an oven, ...

A: Variable cost: A variable cost is a corporate expense that changes in proportion to how much a compa...

Q: The Taiwan debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16% yea...

A: Total amount of debt is 12 trillion. So 12 trillion in dollars will be 12,000,000,000,000. Here inte...

Q: Do you believe or think PPP(Public Private Partnership) could be a game changer in the post covid HR...

A: When a certain product is manufactured, cost is involved and process of business then follow ups. Bu...

Q: Determine the ERR of the engineering project shown below when the MARR is 18% per year and the reinv...

A: * SOLUTION :-  Given that ,    The MARR is = 18% The reinvestment rate is = 15%

Q: b) i. Explain two reasons why some analysts argue that FDI will promote development & ii. two reason...

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: Suppose demand for labor is given by the equation P = 75 – 20 and the supply for labor is given by t...

A:

Q: It is given that the initial quantity demanded is 40 units when the price of the good is $10. Now, t...

A: As per question, "initial quantity demanded = 40 units." Let this initial quantity demanded be repre...

Q: 14. Country A has a GDP of $400,000, and country B has a GDP of $100,000. The standard of living in ...

A: GDP is the value of all final goods and services in the economy in a given year produced within the ...

Q: The Situation It is time to negotiate a new contract with some of Lightning Wholesale's unionized em...

A:    The company increases salary by 3% so monthly wage increases by 4000*0.03=$120 and yearly wage in...

Q: Two firms compete as Stackelberg duopolists in a market with inverse demand given by 132.00 – 20, wh...

A: In Stackelberg duopoly, one firm is leader and choose the quantity to produce first. The other firm'...

Q: Question 20 Suppose consumers buy 70 million packs of cigarettes per month at a price of $5 per pack...

A: The price elasticity of demand measures how a change in the price of a product affects the demand fo...

Q: Imagine that the demand curve for beer is given by P=9-Q and supply for beer is given by P=1+Q. What...

A: Demand and supply  In perfect market competition the optimum quantity is produced where the demand c...

Q: A perfectly competitive, profit maximizing firm earns zero economic profit in the long run. The firm...

A: Total Cost of the firm : TC=a+bQ2 In the long run,perfectly competitive firm produces quantity at wh...

Q: (a) Write down the expression of the profit function of the firm if its total costs (TC) are giv TC ...

A: Profit function is a mathematical relation between firms total profit and output. Cramer's Rule is a...

Q: Using a method similar to that used to calculate the consumer price index, the percentage change in ...

A: Consumer price index "it measures the average change in price over time in a fixed market basket of ...

Q: Looking at the lessons of the East Asian Development Model, which claim is not true: -Over time eco...

A: The East Asian model, which was pioneered by Japan, is an economic growth strategy in which the gove...

Q: Suppose that the price of basketball tickets at the college is determined by market forces. Currentl...

A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be...

Q: 12. Discuss how the interdependence of input markets for labor, capital, and land might affect suppl...

A: The above inputs like labor, capital, and land are the factors of production without which productio...

Q: I want to model a decision maker whose risk attitude is risk seeking, Ishould use which of the follo...

A: For a risk seeker, the preference function gets steeper as wealth increases. It implies that the mar...

Q: Which of the following characteristics does NOT describe a perfectly competitive market? Group of an...

A: The market is a location where the transaction of services and commodities takes place. It is import...

Q: his question requires a (very modest) amount of reading ahead in the early section h of the followin...

A: The Multiplier can be defined as the change in income due to the change in the investment in the eco...

Q: ick on the items on the left to read a description. Then, drag each item to the correct implication ...

A: The government takes several measures in order to enhance the export and overall trade of an economy...

Q: Think of a situation where tier pricing was used very effectively. What was the mechanism used and w...

A: Tier Pricing method- This is a pricing method where by the producer resorts to differential pricing ...

Q: If the elasticity of demand is -0.8333 and the Price of the good is 65. What is the MR? 108 O 143 17...

A: Marginal Revenue is the cash a firm makes for each extra deal. As such, it decides how much a firm w...

Q: In penalty shoot-outs, the Nash Equilibrium strategies of goalies and players depend on how importan...

A: TRUE. The players will still try to equate his expected utility from each strategy given the other p...

Q: Match the following List 1 List 2 i. Dummy variables li. Dicky fuller test. ili. R2 iv. Durban Watso...

A: "Correct option is I-3,ii-4, iii-1, iv-2."

Q: Interest-The Money Market Exercise 2 The table below depicts transaction demand for money (D and ass...

A: Demand for money is a downward sloping function of the interest rate while supply of money is an upw...

Q: If the exchange rate is constant and U.S. exports increase, then in the foreign exchange market the ...

A: In the international market, exports and imports of goods and services influence the relative demand...

Q: There is often litter along highways but rarely in people's yards. Provide an economic explanation f...

A: Externality: The unintended consequences caused by activities of the market create externalities.  I...

Q: economics, money refers to wealth income currency assets used and accepted as payment.

A: Money consider as a medium of trade, as a store of significant value, and as a unit of record. Mode ...

Q: After economics class one day, your friend suggests that taxing food would be a good way to raise re...

A: The curve that depicts various quantities being demanded by individuals at various levels of price i...

Q: . A monopoly is currently producing an output level where P = $30, MR = $20, AVC = $16, AC = $24, a...

A: Monopoly Monopoly refers to a market in which there is only one single seller. Due to high hurdles t...

Q: SRATC or small plant SRATC tor medium plant SRATC for arge plant LRATC S500 Diseconomies of Scale S4...

A: Costs in the long run are determined by the firm's level of output, factor costs, and the quantities...

Q: The demand for bicycles is given by the equation: Q = 1000 – 5P There are currently 100 identical fi...

A: Given information Market Demand function Q=1000-5P Firms Cost function C=25/2*q2+20q+50 There are 10...

Q: Bill has a job that presents no risk of injury or death, has always wanted to be adventurous. The cu...

A: Here, it is given that Bill's current job has no risk with the income of $50,000 and he is an advent...

Q: If the Fed tries to prevent the U.S. dollar exchange rate from rising, the Fed U.S. dollars, foreign...

A: In the United States, US government can influence the exchange rate by making changes in the supply ...

Q: 3. The second glass of lemonade gives lesser satisfaction to a thirsty biy, this is a clear case of ...

A: The second glass of lemonade gives lesser satisfaction to a thirsty biy, because as he consumes more...

Q: Opportunity cost is all about making choices and how you adequately and effectively manage it. What ...

A: Answer - 

Q: Rock-paper-scissors is a game in which players typically use mixed strategies. Can you think of othe...

A: The theory for conceiving social situations among the players that are competing and producing optim...

Q: The producer is in equilibrium at a point where the cost line is Above the isoquant

A: To find : When producer is in equilibrium at point 

Q: for the below Cash flow, find the total Present value using 10% interest rate. years $ cost 2,330 1 ...

A: Present worth" it is the amount of money today is worth more than that same amount in the future. fo...

Q: Suppose that Romeo in Problem 8 has the utility function U= S6 RS, and Juliet has the utility functi...

A: Given; Romeo's utility function; U=SR6SJ4Juliet's utility function; U=SR4SJ6where;SR=Romeo's spaghet...

Q: How to convert daily interest rate into monthly interest rate?

A: Calculating the annual equivalent of a daily charge or per diem interest, or compounding annual grow...

Q: QUESTION 42 For participating countries, a drawback of a single currency in Europe is that A. costs ...

A: In the European union, approx 19 members have euro as the official currency, which implies that they...

Q: A monopoly has a demand curve given by P = 20-Q and its cost function is TC = Q2+70. Find the monopo...

A: Given The demand function for the good:       P=20-Q                 .... (1) Cost function:        ...