b Mills Inc. markets office furniture but does not manufacture it. The company o niture from the manufacturer only when a customer makes a purchase. The ma ivers it directly to the customer. Bringing together materials when they are need led production. A. ISO 9000 B. ISO 14000 C. just-in-time D. supply chain management
Q: Use the table below to answer questions 7-9 Demand and Supply Table Quantity Quantity Price Supplied…
A: As per Law of Supply, other things being constant as the price of good or service increases, the…
Q: rice Ceiling of Low-Cost Homes The Malaysian government has implemented a price ceiling on…
A: A price ceiling is an upper limit on the price.
Q: uestion 6 define marginal utility. Explain the law of marginal utility with a diagram. what do you…
A: (a) Marginal Utility A consumer's increased enjoyment from owning one more unit of an item or…
Q: #6
A: Oligopoly is a form of market structure in which there are few large sellers for a homogeneous or…
Q: Consider the aggregate supply-aggregate demand (AD-AS) model that we saw in class. Assume that…
A: Goods market ia in equilibrium when SRAS= AD in short run . But in long run It is where LRAS= AS =…
Q: #H
A: Price elasticity of demand measures the responsiveness of change in quantity demand to change in…
Q: On the market of good Y there are 70 identical consumers. Each consumer has a demand function…
A: In a two-part tariff, a monopolist charges two types of fees, namely: 1. Access fees/ Fixed fees 2.…
Q: QUESTION 7 Imagine the very relevant situation in developing countries where people can either…
A: Introduction How many types of equilibrium could we arrive in this example. two stable and unstable…
Q: 3. A firm has the following total-cost and demand functions: C =}Q3 – 7Q2 + 111Q+50 Q = 100 P (a)…
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…
Q: You are a manager for Herman Miller, a major manufacturer of office furniture. You recently hired an…
A: PLEASE FIND THE ANSWER BELOW.
Q: (8) For each situation, solve whether collusion is sustainable using "trigger strategy" (infinitely…
A: Grim trigger, often known as the grim strategy or just grim, is a trigger strategy for a recurring…
Q: The income elasticity of demand for your firm's product is estimated to be 0.75. A recent report in…
A:
Q: Why is Managerial Economics relevant to you as a student?
A: Managerial economics refers to the analysis or study of economic conditions and making plans to deal…
Q: DQ Saved He Check my work mode : This shows what is correct or incorrect for the work you have…
A:
Q: A monopoly seller is able to divide its overall market into two submarkets with the demand…
A: Profit maximizing quantity is where marginal revenue is equal to marginal cost.
Q: Choose one theory of economic development and draw/graph/write an economic model that described this…
A: Linear stages theory - This a historical growth model given by Walter Whitman Rostow in 1960. His…
Q: 6. Why might a monopolist advertise heavily for its product even though it isn't competing with any…
A: The structure of the market that controls and dominates the market for a particular service or good…
Q: S = 20L0.30c0.70 his formula L represents the units of labor input and C the units of capital input.…
A: Both part solved below,
Q: Is there salary fairness in professional sports?
A: Concept: Salary fairness refers to when the salary paid by the employee is considered fair. This…
Q: What are the main components of measuring GDP with what is demanded? (briefly)
A: A country's Gross Domestic Product (GDP) is the market price of all finished (final) products and…
Q: 1. Match the description to the type of tax, v Tax on the use of vehicles, gasoline, alcohol,…
A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…
Q: The actual GDP is currently $100 billion per year and potential real GDP is currently $200 billion.…
A: Use the below formula: GDP gap = Potential GDP - Actual GDP
Q: (a) define marginal utility. Explain the law of marginal utility with a diagram.
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Calculate average cost when total cost Is 100 and total quantity is 8
A: Total cost is defined as the sum of all the expenses being faced by the producer in the production…
Q: On the standard Phillips curve diagram, why do both the Y axis (unexpected inflation) and the X axis…
A: The Phillips curve indicates that the level of unemployment and the rate of inflation are inversely…
Q: Consider the following game: Player 2 D х, у 3, 0 Player 1 6, 2 0,4 a) Suppose that x = 2 and y = 2.…
A: Introduction a) Let x =2, y=2 Player 2…
Q: hand written asap
A: The utility is the level of satisfaction that a consumer gets by consuming the units of a commodity.…
Q: 5. A profit-maximizing firm is producing where MR = MC %3D and has an average total cost of $4, but…
A: Profit maximization is the process by which firms ensure that they have the best output and pricing…
Q: Consider the neoclassical growth model. Suppose in the current period a country's saving per worker…
A: The Solow model is an economic growth model that examines the change in the output level in an…
Q: How does perfect competition lead to allocative and productive efficiency? Perfect competition leads…
A: The structure of a market where there are a large number of buyers and sellers in the market selling…
Q: Assignment 5 • Given the Utility Function: • U = u(q1, 42), where u(q1 , 92) = aq a? „Y • (a) Derive…
A: Given u(q1, q2)=aq1ϕq2γ .... (1) Let the price of good 1 is p1 and the price of good 2 is…
Q: What is the Maxi-Min strategy for player 1 and for player 2? Explain why. What are the Nash…
A: Nash equilibrium is an equilibrium outcome of players in the game where the decisions of other…
Q: Butore staring in Guardans of the Galary, Chris Prat had appeared in 11 movies that grossed an…
A: Opportunity cost is the next best alternative forgone for selecting the current alternative. As…
Q: What are some examples in the real world of monopoly, perfect competition, oligopoly, and…
A: There are different market structures depending on the number of firms, entry barriers and types of…
Q: (a) A manufacturer has a fixed cost of $2200 and a production cost of $ 60 for each unit produced.…
A:
Q: Which of the following events would be expected to result in an upward shift of the standard…
A: Philips curve shows inverse relationship between inflation rate and unemployment rate.
Q: (15 marks) Public utilities, like local electricity providers, are likely natural monopolies. They…
A: The answer is as follows:-
Q: On the standard Phillips curve diagram, why do both the Y axis (unexpected inflation) and the X axis…
A: The Philips curve is an economic concept stating that inflation and unemployment have a stable and…
Q: In a two-period model, as long as wealth effects are small, an increase in the world real interest…
A: Two period model deals with current as well as future consumption.
Q: 1. A study indicated that the optimal price for a consumer product is $32.45. Most products in the…
A: When there are many substitutes available in the market for a particular good, its demand becomes…
Q: Which of these is True? O. The world credit-money supply was hugely contracted before the crash,…
A: Introduction a) The world credit money supply was hugely contracted before the crash, which is why…
Q: Unexpected Inflation Phillips curve Region 0% Region 0% Output gap In Region B, any positive…
A: Short run Philips curve shows inverse relationship between inflation and unemployment.
Q: 1. An investment of P270, 000 can be made in a project that will produce a uniform annual revenue of…
A: Answer is given below
Q: 13 For bungee to be a valid proxy for riskaverse, it must be Uncorrelated with the error term…
A: Note: We will answer the first question as the exact one was not specified. Please resubmit the new…
Q: The quantity theory of money predicts that, in the long run, inflation results from the O velocity…
A: here we select the correct answer for The quantity theory of money predicts that, in the long run,…
Q: Consider the following goods and services. Which are the most likely to be produced in a perfectly…
A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…
Q: LAW OF DEMAND I choose Betty crocker Scenario 2: a. If the company decides to earn more profits and…
A: The rule of demand is one of the most fundamental concepts in economics. It integrates the laws of…
Q: (9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market…
A: With one dominating firm and five fringe firms (price-taking) in the tennis shoe industry, the…
Q: Factors of production are normative are studied primarily in represent the classification of…
A: Factors of production are the economic resources that are used to produce goods and services in an…
Q: Consider the market for ice cream cones. Suppose that supply in this market is given by PS =QS and…
A: "Since you have posted a question with multiple sub parts .We will solve first three subpart for…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- What is die difference between accounting and economic profit?Why Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. ThanksA firm produces two different kinds, A and B, of a commodity. The daily cost of producingx units of A and y units of B isC(x, y) = 2x2 − 4xy + 4y2 − 40x − 20y + 514Suppose that the firm sells all its output at a price per unit of $24 for A and $12 for B. Findthe daily production levels x and y that maximize profit. (Be sure to show your first andsecond order conditions.)
- This is a repeated question since you guys only answerone question at a time! Let's assume that a firm's total weekly costs are as follows: 1. Salaries = $2,600. 2. Supplies = $400. 3. Rent = $800.In addition, the owners have invested their own money into the business. This could have earned them interest of $150 per week if they had chosen to put it into a bank instead of investing it into their business. If the firm has weekly revenue of $4,000, what are the firm's accounting profit and economic profit? Show your work please.Suppose a food company has both food and store divisions. The food divisionproduces burgers that are sold downstream at the store. Assume that the storesells 1,000 burgers at $10, 2,000 burgers at $9, 3,000 at $8, and so on up to10,000 burgers at $1. The price the food division charges for a burger is$3.50. What will be the profit-maximizing price for the entire company? How muchprofit will the company make? What is the revenue-maximizing quantity for thestore?Question: How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain. need help
- Title is my answer for this question correct please advice me Description Making dresses in a labor intensive process. Indeed, theproduction function of a dress making firm is well described by theequation Q=L - L^2/800, where Q denotes the number of dresses perweek and L is the number of labor hours per week. The firms cost ofhiring an extra hour of labor is $20 per hour (wage plus fringebenefits.) The firm faces the fixed selling price, P = $40. a.) How much labor should the firm employ? What are itsresulting output and profit? b.) Over the next 2 years, labor costs are expected to beunchanged, but dress prices are expected to increase to $50. Whateffect will this have on the firm's optimal output? Explain.Suppose that inflation is expected to increase the firm's laborcost and output price by identical (precentage) amounts. Whateffect would this have on the firm's output. c.) Finally, suppose that MCL =$20 and P=$50 but that laborproductivity (output per labor hour) is…The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…Q3_A The Break even Analysis of firm show that: BEP = 1000 FC = 10,000 $ P = 3% of the quantity of zero profit. A) The point of intersection of TR with TC is at the cost point of $ 45,000 for TR. B) At the point where (zero units sold) TC equals $ 5,000 C) the start of the line drawing for TR is at cost point $ 0 D) the value UVC for the product in question equals $ 10) E)the FC value in a point for BFP equals $ 10,000 For the given choices, showing which one is True and which one is False, correcting the False ones and given a reasonable reason for the True. Write your answer below:
- A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) What is social welfare at the socially optimal number of trains? a) 200 b) 225 c) 210 d) 350…A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) What is social welfare at the socially optimal number of trains? a) 200 b) 225 c) 210…A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) If a court grants the railroad the property right throw sparks, and transaction costs are $1400 (split evenly by the…