An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost functions is associated with this estimate? a. MC = -2Q + 0.1Q2 b. TVC = 96Q-2Q2 + 0.1Q3 c. TVC = 96Q - 4Q2 + 0.15Q3 d. MC 96-4Q+0.15Q2 -
Q: Just need the last two parts to be done. Thankyou ABC Computer Company has a $20 million factory in…
A: Gross domestic product is the sum total of the final values of goods and services produced in a…
Q: Suppose that the government imposes a constant per-unit tax of 2 cent on producers. In the diagram,…
A: Taxation basically refers to the usual process through which a government or other taxing body…
Q: 2. According to the following table, what is the GDP deflator in 2005? 2004 Nominal GDP Real GDP…
A: Given information: Nominal GDP of 2004 = $10000 Real GDP of 2004 = $8000 Nominal GDP of 2005 =…
Q: Trends in globalization continue to have an impact on businesses in every region of the world.…
A: High-quality content and brand consistency are guaranteed via a standardization strategy across all…
Q: Theoretically, when we are going through the procedure to calculate the incremental ROR (ΔROR), we…
A: When there are two competing investment possibilities with differing investment quantities, the…
Q: 5. Joe needs a new HVAC system for his home. He is comparing these three models. One Temp $7000…
A: Given that; The future worth of various alternatives will be calculated as part of the alternative…
Q: Consider a general utility function U(x₁, x₂). Let's now solve for the optimal bundle generally…
A: A mathematical function that is known as a utility function is one that assigns a number to each of…
Q: 3 Price $1.60- 100- 50+ 130 Multiple Choice 200 Quantity $1.00 and 200 4 Refer to the diagram. The…
A: Given : A diagram of the market is given where Demand is downward sloping curve and supply is upward…
Q: conect answer below se data are responses from a survey ese data are outcomes of a designed…
A: *Answer: . option-E: These data are results of an observational study is the correct answer.
Q: 5. What is Impact of governement expenditure on economic growth in rwanda?
A: After the decimation of 1994 which carried the Rwandan economy to grassroots, the public authority…
Q: If the economy's real GDP doubles in 9 years, we can not say anything about the average annual rate…
A: In the standard of 70, the "70" addresses the profit or the distinct number in the recipe. Partition…
Q: 1. • True/False: Net exports = exports plus imports. . True/False: The estimated market value of…
A: 1. a. The difference between the exports and imports refers to the net exports. Net…
Q: Water Works Plumbing Company is a small owner-managed plumbing services company that serves the…
A:
Q: After seven years of negotiations, 12 countries—including the United States, Japan, Vietnam, and…
A: Economic equilibrium is the mix of economic factors (typically price and quantity) toward which…
Q: 3. Indicate whether following statement is true or false and justify your answer. Concave…
A: Concave preferences result in the average of A and B being inferior to A. The inverse of convex…
Q: If $2000 is invested at 7% interest compounded continuously, calculate its value after 3 years
A: Given the invested amount = $2000 Interest rate = 7% Time period = 3 years
Q: Assume the prices of product X and Y are $1.50 and $1.00, respectively, and that Mr. Chen has $24 to…
A: Two products = X & Y Price of good X (PX) = $1.50 Price of good Y (PY) = $1.00 Total Income (I)…
Q: A firm is producing 1,000 units at a total cost of $5,000. If it were to increase production to…
A: The sum of the fixed and variable costs is the overall cost. The price of fixed inputs into…
Q: Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal.…
A: In the mentioned question we have been given the existing project proposal and the new upcoming…
Q: Lorelai's choice behavior can be represented by the utility function u(x₁, x₂) = 0.9ln(x₁) + 0.1x2.…
A:
Q: The price elasticity of demand for health care is Multiple Choice O perfectly inelastic. relatively…
A: So we can say that the Price elasticity of demand is merely known to be as the critical concept in…
Q: You need to borrow $250,000 right now and can repay the loan in 9 months. Since you want to pay as…
A: Given; Amount needed to be borrowed= ₱250000 Time= 9 months Formula to calculate future value:-…
Q: Mead Plumbing currently sells thread seal tape at a price of $42.00 per roll. Their research…
A:
Q: 12. Which of the following is NOT a way for employees to become unionized? Select one: a.…
A: The labor unions are the organization of the workers which represents the workers as a whole. They…
Q: Table 1 shows the demand and supply of jobs in a retail industry Quantity jobs demanded( in million)…
A: The measure that depicts various quantities of goods and services being demanded and supplied at…
Q: invest today in order to withdraw ₱ 14,766 annually for6 years if the interest rate is 2.24% if…
A: *Answer: Given information, Annual amount (A): ₱ 14766 Time period (N): 6 years Interest rate…
Q: copyright ownership of his musical creations, he creates a monopoly by constraining unit production…
A: A copyright is a sort of licensed innovation that gives its proprietor the selective right to…
Q: Suppose a firm's marginal cost is increasing as it produces more output. Then the firm is said to be…
A: The addition cost that is incurred by the producer to make an additional unit of output is called…
Q: 4. Refer to the diagram below for a private closed economy. In equilibrium the level of consumption:…
A: The measure that depicts the final value or market value of goods and services that are being…
Q: Focus on the concept of marginal propensity to consume and reflect on which of the following would…
A: A metric is the marginal propensity to consume we use in economics. It measures induced consumption,…
Q: Which of the following will decrease physical capital per worker? O increase in saving in the…
A: Physical capital per specialist is the supply of gear and designs that are utilized to deliver labor…
Q: In Portland, let's assume that Maria sells coffee in a monopolisticly competitive market. Maria…
A: In the monopolistically competitive market, firm's output decision is same as a perfectly…
Q: WHICH OF THE FOLLOWING IS NOT A GENUINE CONCERN ABOUT THE ISSUE OF RISING INTERNATIONAL PUBLIC DEBT?…
A: When talking about international public debt, it can be said that government of different countries…
Q: 8. Assume that the economy of Belleland can produce a maximum of 400 products. Determine the status…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: Assume a consumer has current-period income y=200, future-period income y'=150, current and future…
A: Given information Current income Y=200 Future income Y'=150 Current tax t=40 Future tax t'=50…
Q: Janice wishes to safeguard her business at all given times. She has heard from a friend that there…
A: Contract is a kind of an agreement for any service, company or things which is enforced by law. In…
Q: monopolist, as opposed to a company in a perfectly competitive market:
A: Perfect competition market ;- where large numbers of sellers and buyers exist and exchange…
Q: An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost…
A: Here, average variable cost function is given as: AVC=96-2Q+0.05Q2 This function can be used to…
Q: When the price of Good 1 changed from $7 per unit to $10 per unit, demand for Good 2 changed from…
A: Cross price elasticity of demand refers to the responsiveness in Quantity demanded of good X due…
Q: According to macroeconomic theory, a concurrent increase in AD and decrease in AS will cause…
A: Equilibrium in the economy occurs at the intersection of aggregate demand and aggregate supply
Q: Assume the real interest rate increases from 5% to 6%, the interest elasticity of money demand is…
A: Interest elasticity of demand illustrates the proportional change in the quantity of money demanded…
Q: An economy can produce 2 hamburgers and 10 French fries and 3 hamburgers and 8 French fries as…
A: Opportunity cost of producing an additional unit of a good is a sacrifice of production of other…
Q: Let’s see how GDP per person can be affected by changes in the fraction of citizens who work. This…
A: Given "Every employed worker produces $50,000 worth of output" Part a) If the employment-population…
Q: The optimal level of output can be achieved by levying a tax on a company producing a negative…
A: Negative externality refers to the external cost associated with the action of an individual and…
Q: opulation growth mproved health and nutrition enforcement of property rights increased educational…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If…
Q: a) In the long run, the real interest rate is determined by and, in the short run, the Reserve Bank…
A: Taking into the effect of inflation, the relationship between nominal interest rate and real…
Q: The graph below depicts an economy where an increase in aggregate demand has caused inflation.…
A: Given information: Initial long-run equilibrium occurs at the intersection point of LRAS, AS, and…
Q: Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase…
A: According to the question, it is said that : A graph is given that indicates the relationship…
Q: Review the following hypothetical scenario and answer the following question: Our only competitor…
A: Establishing a value for a good or service is the act of pricing, as the word is used in economics…
Q: How did you get step 2? I am confused on how you went from dQ/dE= 6*1/2*E-1/2 to…
A: We know,Q=f(E)= 6E1/2P=6Now,MPP=dQ/dEMPP=dQ/dE= 6*1/2*E-1/2
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Azree an accountant, working for a foreign consultant firm and earning RM 78,000 per year is contemplating giving up his job and set up his own tax consultant firm. He estimates that renting an office would cost RM 780 per month, hiring a secretary with salary RM 1,500 per month and purchasing for required supplies would cost him RM 10,000 per annum. He estimated that his total revenues for the year would be RM 120,000. a)Define the explicit cost and implicit costA certain seed and fertilizer company compiled the following estimates for its operations. Capacity per period is sales of $160,000. Find (a) the revenue function (b) the cost function if Sales $121,800 Total variable cost 51,156 Total cost 92,356 Net income $26,400 (a) Write an algebraic expression for the revenue function. Assume a selling price of $1. Total Revenue=........... (Type an expression using x as the variable.) (b) Write an algebraic expression for the cost function. Total Cost=........ (Type an expression using x as the variable.)a) Determine the variable cost per unit and the fixed cost using the high-low method.b) What is the equation of the total mixed cost function?c) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scaleof 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the yaxis.
- Consider the long run total cost function LRTC = 30*Q - .006*Q2 + .00001*Q3. What is Q when LRAC when it is at its minimum? You can use a Spreadsheet, but I recommend using Solver to answer this question. Q will be a whole number. Only enter a number, for example, 40, and nothing else.Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the form AVC = a + bQ + cQ2 and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. DEPENDENT VARIABLE: AVC R-SQUARE F-RATIO P-VALUE ON F OBSERVATIONS: 35 0.8713 108.3 0.0001 VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 43.40 13.80 3.14 0.0036 Q −2.80 0.90 −3.11 0.0039 Q2 0.20 0.05 4.00 0.0004 If Straker Industries produces 20 units of output, what is estimated short-run marginal cost (SMC)? a. $1,348 b. $463.20 c. $171.40 d. $2,348The estimated cost for a multitube cyclone system with a capacity of 60,000 cubic feet per minute is $450,000. (a) If the $200,000 actual cost for a 35,000 cubic feet per minute system was used in the cost-capacity equation, what was the value of the exponent? (b) What can be concluded about the economy of scale of the costs between the two systems?
- A survey of total project construction costs for a wide range of buildings (hospitals, schools, banks, nursing homes, etc.) in 2006 found that the average cost was $13,136,431. The mechanical and electrical portions of that cost were $2,511,893 and $1,585,384, respectively. If the total project cost in 2017 increases to $15,700,000, what would the mechanical portion of the total cost equal, provided the percentage (a) remained the same as in 2006, and (b) increased by 20% from the 2006 portion?The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. To determine a formula for the total cost, we need to know two things. The first is the manufacturer's fixed costs. This amount covers expenses such as plant maintenance and insurance, and it is the same no matter how many items are produced. The second thing we need to know is the cost for each unit produced, which is called the variable cost.Suppose that a manufacturer of widgets has fixed costs of $1000 per month and that the variable cost is $20 per widget (so it costs $20 to produce 1 widget). Explain why the function giving the total monthly cost C, in dollars, of this widget manufacturer in terms of the number N of widgets produced in a month is linear. C always increases by $20 when N increases by ______. Therefore, C has a constant rate of change and so is a linear function of N. Identify the slope and initial value of this function. slope…Classification analysis as the method for approximation of variable and fixed costsa) Is using for cost classification at fixed and variable elements an expert approximationb) Is using for cost classification at direct and indirect (overhead) elements empirically-statistical approaches. c) is using for cost classification at fixed and variable elements mathematical and statistical approachesd) None of the previous answers is correct.