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Briefly describe the significance of the system marginal
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- The following graph shows the daily market for extra-large cardboard boxes in New York City. Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1, 2, or 3 boxes each day. Quantity (Boxes) Price (Dollars per box) Total Revenue (Dollars) Marginal Revenue (Dollars) Average Revenue (Dollars per Box) 0 0 1 2 3Use the table below to calculate the accounting and economic profit for Abner's Apple Art. Item Amount Total revenue $250 Costs Apples $30 Utilities $20 Lease $21 Abner's forgone wages $80 Numbers in the table are in thousands What is Abner's Apple Art's accounting profit? Accounting profit = $ thousand What is Abner's Apple Art's economic profit? Economic profit = $ thousandWhat happens to the supply curve when prices of factor of production rises
- Explain how to find the equilibrium priceand quantity for a factor of production.Only typed answer and please don't use chatgpt How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.You are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change demand for labor. You own a sports equipment manufacturing firm. You were just informed rent at your warehouse space would double.
- so do i not draw a supply curve. whats the reasoning for not drawing it.Suppose a devastating cyclone had destroyed enormous amount of forest land in theSundarbans area of Bangladesh. Instead of reforestation, the government has decidedto clear those enormous amount of forest land for agricultural use.a. Graphically show the impact of this event on the market for agricultural landin Bangladesh. What has happened to the marginal product of land and therental price of land in Bangladesh?b. Show the impact of this event on the market for Bangladeshi farm workers inanother graph. What has happened to the marginal product of farm labour andthe wage of farm labour?Q1. A colonial era firm was producing 50 basket and the selling price of each basket was $5. Find the total earning of colonial era firm.
- Read each article linked below and summarize the implications of the events being discussed using the tools of supply and demand. Identify the following: • What has changed or is expected to change? • Explain how the supply curve and/or the demand curve are affected by the change(s)? • What would you expect to be the impact on the price and quantity? You should illustrate your answer with a diagram. Be sure to give each diagram a title, and to label the axis and curves in your diagram. Include any shifts in the supply or demand curve and show both the original and the new price and quantity. Make sure that you explain why curves shift and why the price and quantity change. Answers must be typed. However, you can hand-draw, scan and insert figures. There is a page limit of one page single spaced (12 point font and at least 1 inch margin all around) for each question, including your diagram(s). Article link…You are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change demand for labor. There is an increase in the price of steel. You make tractors.Read each article linked below and summarize the implications of the events being discussed usingthe tools of supply and demand. Identify the following:• What has changed or is expected to change?• Explain how the supply curve and/or the demand curve are affected by the change(s)?• What would you expect to be the impact on the price and quantity?You should illustrate your answer with a diagram. Be sure to give each diagram a title, and to labelthe axis and curves in your diagram. Include any shifts in the supply or demand curve and showboth the original and the new price and quantity. Make sure that you explain why curves shift andwhy the price and quantity change. i think the graph is a supply and demand graph.Link to article:https://www.cbsnews.com/news/why-egg-prices-will-likely-rise-in-2015/Article text: The new standard backed by animal rights advocates has drawn ire nationwide because farmers in Iowa, Ohio and other states who sell eggs in California have to abide by the same…
