At the profit-maximizing output level, the slopes of the revenue and total cost curves are not equal, that is; MR(*) < MC(*). Select one: True False
Q: You are a department manager in a large software firm, and you have an assignment to produce a custo...
A: The isoquant shows all the possible combinations of factors that yield maximum output. Whereas the i...
Q: Deadweight loss under first-degree (perfect) price discrimination is: O Varies depending on the shap...
A: Concept: 1) A deadweight loss is a cost to the society which is created due to market inefficiency t...
Q: Consider the following game between Visa and Mastercard. They are trying to decide whether to invest...
A:
Q: On January 1, 2018, Kline Inc. borrowed P9,000 from Harvard Co., and on January 1, 2020, it borrowed...
A: Introduction Here Kline Inc. borrowed money from Harvard on Jan 1 , 2018. Time has taken for these a...
Q: Below are the long-run cost data of a representative firm in a perfectly competitive industry. In th...
A: In Perfectly competitive market, Price is constant so it is equal to marginal revenue. At profit max...
Q: What is linear stages of growth model in ecomonics? Explain by your own understanding
A: Linear stages theory - This a historical growth model given by Walter Whitman Rostow in 1960. His th...
Q: In the United States, the dollar is backed by silver. backed by gold and silver. backed by Bitcoin. ...
A: A currency is backed means that a commodity backs or supports, like gold or silver. It means the cur...
Q: uppose that out of the original 100 increase in government spending, 60 will be recycled back into p...
A: Savings are the amount of money that an individual sets aside from his total income.
Q: Define Economics and its Types?
A: Economics is a branch of economics that examines human behavior with the objective of allocating sca...
Q: A company's second year operations can be summarized as follows: Revenues: $110 000 Expenses (except...
A:
Q: What is theories and patterns of structural change in economic development? Explain in your own word...
A: The structural aspect of economic development is becoming increasingly crucial as the Ukrainian econ...
Q: The marginal utilities derived from each product are as follows. Number of MU of apples MU of orange...
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...
Q: Suppose U = ×1×2 subject to, 10x1+ 20x2 = 100 To reduce the consumption of x2 by half, government im...
A: Introduction Utility and consumption function of x1 and x2 has given. U = x1 x2 Consumption function...
Q: In the short run, when a firm produces 60 units of output, its total fixed cost is $120. Then the co...
A: Total Cost is the sum total of fixed cost and variable cost incurred in the production of all the go...
Q: Indifference Curves Uj Uz U, LA B 10 20 Quantity of x Suppose the consumer is on the highest budget ...
A: Introduction An indifference curve has given. Its answer is b) consume y less and more x because if ...
Q: Be x ~exple) and d constunt. Fid expressions tor 1)Ax iv)n Ax
A: Introduction An exponential function has given. Its answer is Ax. because the above exponential func...
Q: imagine that Mr Smlth takes But 1oan for 000 to start a new businesS. The bank credits the £ T0,000 ...
A: Commercial bank is basically a financial institution that accepts deposits, offers checking account...
Q: This is a Solow model question. Suppose δ=0.1, s=0.4, K0 = 40, L0 = 10, AF(K,L) = K1/2L1/2, and ther...
A: Y = K0.5 L0.5 δ=0.1, s=0.4, K0 = 40, L0 = 10 k0 = K0/L0 = 4
Q: Which of the following statements is TRUE? O Assume that wheat farmers operate in a competitive indu...
A: A competitive industry refers to a perfect competition market structure. Perfect competition market ...
Q: What are the 3 basic economic problems? Briefly
A: An economic problem is one that arises as a consequence of a scarcity of resources and requires deci...
Q: Explain the advantages and disadvantages of monetary policy and macroprudential policy in dealing wi...
A: Monetary policy is a set of tools that a country's central bank can use to encourage long-term econo...
Q: Problem 4. (Bundling) Consider a case where there are three consumers with respective valuations for...
A: Answer - "Thank you for submitting the question. But, we are authorized to solve only 3 sub parts. F...
Q: Consider a perfectly competitive market for a product Y and assume that the market is at the long ru...
A: At equilibrium in the perfectly competitive market, the firm produces at the point where P = ATC in ...
Q: How is the problem of what and how much to produce resolved in the capitalist system?
A: A capitalist system is an economic system where private enterprises own and control the resources of...
Q: Consider the competitive market for dress shirts. The following graph shows the marginal cost (MC), ...
A: In economics, a cost curve is a graph depicting production costs as a function of total output. Prod...
Q: The short-run aggregate supply curve will shift to the left if: O A) the aggregate price level falls...
A: Aggregate supply refers to the total amount of goods and services that the producers are willing to ...
Q: The image attached, is a screen shot of the question. The question is: If the marginal propensity t...
A: Please find the answer below.
Q: (Table: Fresh Fruit Murket and Spoiled Not Foxxd T) Payofls are in thousands of dollars. Spoiled Not...
A: Nash Equilibrium is a situation when every player plays their best response and has no incentive to ...
Q: For the next two questions, consider a consumer with utility function U(x1, X2) = x1+X1X2+X2 who obe...
A:
Q: Select TWO true statements. O a. A commercial bank's net worth is the sum of its liabilities minus i...
A: Commercial bank refers to a type financial institution that accepts deposits from customers and lend...
Q: Calculate the marginal rate of substitution (MRS12) for the following utility function: U(q1, 92) = ...
A: "Marginal rate of substitution indicates the rate at which a consumer can give up some units of a go...
Q: Assume that an investor is expecting to receive P606,060.00 at the end of 6 years. Compute for the t...
A: The amount the investor is expected to receive after 6 years =606060 We need to find the principal v...
Q: Inflation calculation: CPI basket: 1,400 kg pork, 1,600 kg chickens) Price of chicken(baht per Price...
A: CPI measures the cost of market basket of goods and services purchased by a consumer in a specific y...
Q: Alana orders a pink shirt from BuyClothes.com but receives an orange shirt instead. The store advert...
A: a demand for something owed or accepted to be owed a protection guarantee.
Q: need help wity these two thank you!!! Ys Prices $6 $5 $4 12 14 15 $7 16 15 13 11 13 $6 19 16 14 $5 1...
A: Answer -
Q: (3) Suppose there are two consumers in the market for a good and their demand functions are as follo...
A:
Q: A pharmaceutical company has spent $500 million to date working on a blood pressure treatment. It ha...
A: Perpetuity is a security that pays for a limitless measure of time. Perpetuity is a consistent strea...
Q: 1. You have a choice of getting a degree in economics, computer science or neither. Either degree de...
A: Answer - Thank you for submitting the questions but, we are authorized to solve one question at a ti...
Q: i l-year bond, ti' t+1 5 percent i't +3 5.88 percent i't +2 5.65 percent premium = 0.10 premium = 0....
A: Given The interest rate on 1-year bond at time t (it) iFt+1 iFt+2 iFt+3 5 % 5.65 5.78 5.88 P...
Q: Genovia has experienced exceptional growth in recent years. Its GDP per capita (or Income) has incre...
A: Given:Initial income=io=$30,000New income=i1=$50,000Initial demand for personal carss=Do(PC)=450,000...
Q: Question 6n Firms become more optimistic about the economy and decide to buy more capital goods. Thi...
A: Answer - "Thank you for submitting the questions. But, we are authorized to solve one question at a ...
Q: How many Nash equilibria does this game have? hand written plzz
A: In this game player 1 has strategy a, b, c, and d and player 2 has strategy E and F. Nash equilibri...
Q: The Keynesian economic framework is based on an assumption that: A) an increase in government spendi...
A: In economics, different frameworks have different assumptions. And this difference in assumptions le...
Q: •Suppose demand is Q = 100 – 2P •a.) Calculate the price elasticity of demand at P = $5. •b.) Calcul...
A: There are many different ways to define elasticity. Still, the most frequent definition is a measure...
Q: A man borrows Rs. 1,000 and agrees to pay back every month one half of the amount due. After how man...
A: this is given that a man borrows Rs 1000 and agrees to pay back every month one-half of the amount d...
Q: A Compare and contrast the productivity and technology over the entire time period. a. What are the ...
A: The non-farm labor productivity for all the employed captures the change in labor efficiency when pr...
Q: identify and explain the economic theory about the costs and benefits of inflation?
A: The situation that depicts the general increase in the level of goods and services during a period o...
Q: 3. Suppose the following production function is given for a Solowian type of economy: Y = K°L- (a(2 ...
A: The production function of a business is the link between the inputs it consumes and the output it g...
Q: A competitive fishing industry consists of five independently owned and operated fishing boats worki...
A: Answer a. The completed table is as follows: Average Catch = Total Catch / Number of Catchs Margin...
Q: In a monetary union, individual countries cannot do which of the following: Select one: a. Set thei...
A: Monetary union:- A monetary union is a pact among different nations to form a monetary union zone. ...
At the profit-maximizing output level, the slopes of the revenue and total cost
Select one:
True
False
Step by step
Solved in 2 steps with 1 images
- marginal revenue equal marginal cost" condition for profit maximization is rather confusing.Discuss the rationale behind the condition, highlighting how different it is from the break-even analysis.Recall that profit equals revenue minus cost. For the revenue and cost functions shown, answer parts (a) through (e) below. R(x)equals=400x−2x^2 and C(x)equals=200x+4250, with 0≤x≤100 (a) Find the break-even point. The break-even point(s) is(are) x=?. (Type an integer or decimal rounded to one decimal place as needed. Use a comma to separate answers as needed.) (b) Find the x-value that makes profit a maximum. x=? (Type an integer or decimal rounded to one decimal place as needed.) (c) Find the maximum profit. The maximum profit is $? (Type an integer or decimal rounded to one decimal place as needed.) (d) For what x-values will a loss occur? Select the correct choice below and fill in the answer box(es) to complete your choice. (Round to one decimal place as needed.) A. x<? or x>? B. x>? C. x<? D. ?<x<? (e) For what x-values will a profit occur? Select the correct choice below…How many of the following will occur with a linear total revenue curve? (i) A linear cost curve (ii) A linear profit curve (iii) A single break-even point (iv) Increasing profits as output increases beyond the upper break-even point a.None b.Four c.Three d.One e.Two
- Dalahla Company Limited, focusing on producing tooth paste (in units) has a demand function4? = 35 − 0.5?. If total fixed cost is GH¢80 and average variable cost per unit function is 3? −51+325/Q, where Q is number of tooth paste produced and P is the price per tooth paste (in GH¢).What is the total profit at the profit maximizing level of output, and what is the best pricing policyoption?Tasty Inc. sells table salt to both retail grocery chains and commercial users (e.g., bakeries, snack food makers, etc.). The demand function for each of these markets is: Retail grocery chains: P1 = 180 − 8Q1 Commercial users: P2 = 100 − 4Q2 where P1 and P2 are the prices charged and Q1 and Q2 are the quantities sold in the respective markets. Tasty's total cost function (which includes a "normal" return to the owners) for salt is: TC = 50 + 20(Q1 + Q2) (a) Determine Tasty's total profit function. (b) Assuming that Tasty Inc. is effectively able to charge different prices in the two markets, what are the profit-maximizing price and output levels for the product in the two markets? What is Tasty's total profit under this condition?Distinguish clearly between Marginal Revenue and Marginal Costs using suitable examples.
- A company has a linear total cost and a linear total revenue, where the slope of the revenue line is greater than the slope of the cost line. How many of the following will allow the firm to reduce the level of their break-even point? (i) Increase their selling price (ii) Increase their output (iii) Increase their fixed costs (iv) Decrease variable costs a.Four b.One c.Two d.Three e.NoneCells A1 to A3 contain the quantity produced for the three products. Whereas cells B1 to B3 and C1 to C3 contain profit/unit and production time required per unit respectively for the same three products. What is the content of the Set Objective cell for maximising Total Profit? a. =SUMPRODUCTS (A1:A3, B1:B3) b. None of these c. =SUM(A1:A3) d. =SUMPRODUCTS (A1:A3, C1:C3)If a perfect competitor was earning an economic profit in the short run, would this situation continue through the long run? Why or why not? (Answer with diagram) 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.
- A two - product firm faces the following demand and cost functions: Q1 = 40 - 2P1 - P2 Q2 = 35 - P1 - P2 C = Q 2/1 + 2Q 2/2 + 10 (a) find the output levels that satisfy the first order condition for maximum profit. (use fractions) (b) check the second - order sufficient condition. Can you conclude that this problem possesses a unique absolute maximum? (c) What is the maximal profit?ABC Company Limited is a new business established to produce tables (in units). The demand function for tables is given as 4? = 35 − 0.5?. It has been estimated that the total fixed cost is GH¢80 and average variable cost function is 3? − 51 + 320, where Q is number of tables produced ? and P is the price per table (in GH¢). Given this information, what is the total profit at the profit maximizing level of output, and what is the best pricing policy option?A two product firm faces the following demand and cost functions: Q1 = 40 - 2P1 - P2 Q2= 35 - P1 - P2 C = Q21 + 2 Q22 + 10 (a) Find the output levels that satisfy the first-order condition for maximum profit. (use fractions.) (b) Check the second-order sufficient condition. Can you conclude that this problem possesses a unique absolute maximum? (c) What is the maximal profit?
