Explain the situation in the market when a cost of grouper fingers is $7 per plate

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Q: 7. On short notice, Walter creates blue ice according to the following production function:…

A: * ANSWER :-  (7)

Q: The cost function of producing Q units of good s.t:

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A: If price is equal to AC then at this situation TR= TC ( since TR=AC×Q and TC=AC×Q )

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Q: Suppose a market basket contains two goods: bread and milk. Use the table below to calculate the…

A: Given: Quantity of bread=488 Quantity of milk=323

Q: True or False ? Why ? In the long run, Betty’s factory produces 10,000 widgets with cost-minimizing…

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A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…

Q: Tripod Store has been so successful in Paris that it wants to set up a new operation in Nantes.…

A: The production function of a firm shows the maximum output that a firm can produce with the given…

Q: Briefly describe the significance of the system marginal price and explain why it varies with time.

A: The Variable Generation Cost of the most costly Generation Unit that would be sent to fulfill one…

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A: The marginal product is the change in the total output when one additional unit of labour is used.…

Q: If output is produced according to Q = 4LK, the price of K is $10, and the price of L is $40, then…

A: Producers utilize value minimization as a basic guideline to spot what combination of labor and…

Q: A firm produces and sells a good for $119. To produce this good they purchased materials for $14,…

A: Profit can be calculated by using the formula given below:

Q: Ginny is a hard-working college senior. One Sunday, she decides to work nonstop until she has…

A: The marginal, or additional, gain from Ginny’s second hour of work at each time is shown in below…

Q: In industry, when the price of electricity goes up, the company employs more low-skilled workers.…

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A: Utility maximising condition: Slope of Indifference Curve = Slope of Price Ratio Marginal Rate of…

Q: 2.1. The law of demand states that the higher the price of a good, the higher the quantity demanded…

A: 2.1) The law of demand states that the higher the price of a price changes the quantity demanded…

Q: Q1. A colonial era firm was producing 50 basket and the selling price of each basket was $5. Find…

A: Given data: Output given, Q = 50 Price of the basket, P = $5 Total Revenue = ?

Q: Your boss asks you to calculate the selling price of a good such that the profit margin is 34%. The…

A: Answer to the question is as follows:

Q: Yennefer's current production level, a extra bunch of herbs adds 24 extra spells. Each bunch of…

A: In financial matters, the marginal expense of production is the adjustment of aggregate production…

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A: With Price of the apple is 4 $ per basket where Margina physical product = Total apple output 2 -…

Q: We know there is a link between productivity and costs. For example, recall the link between the…

A: In an economist's terms, when we talk about productivity, then we are talking about the marginal…

Q: a) Explain what is meant by the terms marginal cost and sunk cost in production theory, and give…

A: In economics, the marginal cost of production is the adjustment of complete production cost that…

Q: If output is produced according to Q = 4LK, the price of K is $10, and the price of L is $40, then…

A: Profit is maximized when firm produces output at a level where marginal rate of technical…

Q: input prices or an increase in efficiency would affect costs.

A: The cost of production is the expenditures incurred by the firm to produce the required output.…

Q: Mike’s Auto Art is a company that applies pinstripes to vehicles. Mike's cost for a basic 1-color…

A: Marginal cost is the addition made to the total cost by producing one additional unit of a product…

Q: Question What will be the demand of inputs when the input price depends on the demand

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Q: According to the diagram, hot dogs cost each, and beer costs $ per glass. %24

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Q: QUESTION 7 · 1 POINT The following chart shows the number of workers and hourly wage rate required…

A: Answer: Cost=units of workers at 9 output level×Wage rate per hourCost=4.97×15.46Cost=76.84

Q: 9. Cost-curve shifters The following graph shows the average total cost (ATC) curve, average…

A: Given the price of pizza including sales tax = $5 The price of pizza excluding sales tax = $4

Q: Refer to the figure below:

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Q: In the competitive electrical motor industry, the workers at Galt Inc. threaten to go on strike. To…

A: Answer: Introduction: Labors are variable inputs of a company. Production of a firm can be increased…

Q: At Yennefer's current production level, a extra bunch of herbs adds 19 extra spells. Each bunch of…

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Q: calculate the profit at the production level.

A: Profit is the difference between Total Revenue and Total Cost. The assumption is the total cost…

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A: The quantity of output that can be sold in the market is equal to 10,000 and the per unit price that…

Q: If the shop pays its mechanics a wage of $600 per day, then what is the shop's marginal profit from…

A: Marginal profit is the difference between the value of the marginal product and marginal cost.…

Q: Which of the following is the best example of a transactions cost? O the price of labor and…

A: Cost is the expenditure of producing goods and services. It is the sum total of the total fixed cost…

Q: bet o cu 1. PRODUCTION COSTS The graph of a typical total cost func- tion C(x) associated with the…

A: There are two types of costs in a firm, namely variable cost which varies with the quantity…

Q: A decrease in the wage rate will cause a firm’s marginal cost curve to shift down. True or False and…

A: The amount that is in turn being paid to workers for providing their services is known as wages.…

Q: Lydia runs a small nail salon in the town of New Hope. She is debating whether she should extend her…

A: Total revenue is the total receipts collected from the sale of goods or services in the market.…

Q: are likely a fixed cost of a firm. A Utility costs B The costs of raw materials used in production

A: Total cost encompasses the fixed cost as well as a variable cost. However, in the long run, there is…