In theory, the discriminatory firm will go out of business because: A its MPL is lower than nondiscriminatory firm B nondiscriminatory firms generate more revenue C discriminatory firms are being sanctioned D No one will work for them. E the nondiscriminatory firm has lower cost
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- Young MBA Erica Cudahy can invest up to $20,000in stocks and loans. Each dollar invested in stocksyields $0.08 profit, and each dollar invested in a loanyields $0.13 profit. At least 40% of all money investedmust be in stocks, and at least $7000 must be in loans.Determine how Erica can maximize the profit earnedon her investments.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…Explain why earning zero economic profit is not as bad as itsounds.
- The expansion path of a firm gives five different quantities of output such as 10,20,30,40 and 50 units; and the price of labor is $25 and the price of capital is $100 per unit. The table shows the long-run costs of the firm at given quantities of output. Q L K LTC( $) LAC( $) LMC ($) 10 64 20 3600 360 360 20 120 40 7000 350 340 30 200 58 10800 360 380 40 288 80 15200 380 440 50 440 90 20000 400 480 a. With the help of graph, analyze the properties of LAC and LMC b. Interpret and evaluate the numerical and graphical data and illustrate the relationship between LAC and LMCPakMonoG’s inverse demand function is P = 100 – 2Q and cost function is TC = 10 + 2Q, where Q is quantity in units and P price in PKR. (need answers of 2 & 3) 1. Given your calculations in (a), illustrate the demand, marginal revenue and marginal cost curves of the firm in a graph. 2. If we were to compare PakMonoG with a perfect competitive firm in the market, are there differences in characteristics of the two structures? 3. What are welfare implications? Is total societal welfare of the firm higher or lower than that of a competitive firm? Support your answer using the graph in (b) above.Not for profit hosptials, do they eliminate the need to have a for-profit hosptial?
- A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week. 1,400 1,200 1,000 MRP and ARP (dollars) 800 - 600 ARP 400 200 MRP 1 -L 0 2 4 6 6 8 10 12 14 16 18 20 Labor (workers per week) Show Transcribed Text Given the information in the graph, suppose the weekly wage rate increases to $1,400 per worker. The firm would hire _____ workers and earn a profit of _____ per week.3. A company makes fidget spinners. They have written formulas for their revenue, R, and their costs, C, based on the number of spinners they make and sell, S: R = 4.31S C = 423 + 1.87S Determine their "break-even" point, where revenue and costs are equal 4. A different company makes dice. They have written formulas for their revenue, R, and their costs, C, based on the number of dice they make and sell, D: R = 0.65D C = 432 + 0.19D Determine their "break-even" point, where revenue and costs are equal.Assume that you are an economic consultant. The firm that hired you has provided the information below. The firm is a price searcher and wants to maximize its profit (or minimize its loss). InformationPrice: $4Elasticity of demand at price of $4 is Ed=-1Quantity of output: 2000Total variable cost: 4000Average fixed cost: 1Marginal cost is constant and equal to the average variable cost: MC=ACV=2. Which of the following answers correctly describes this case? a) The firm is maximizing profits at the current price of $4.b) The firm should increase price and reduce quantity produced.c) None of the other answersd) Firm should reduce price and increase quantity produced.
- (TCO C) You have been hiredto manage a small manufacturing facility whose cost and productiondata are given in the table below.No. of workers Total LaborCost Output TotalRevenue 1 $150 100 $170 2 300 108 550 3 450 114 1150 4 600 119 1470 5 750 123 1600 6 900 125 1700 7 1050 126 1750 What is the marginal product of the secondworker? What is the marginal revenue product of the fourthworker? What is the marginal cost of the fifth worker?Based on your knowledge of marginal analysis, how manyworkers should you hire? Explain youanswer. QUESTION TITLE :- 7. (TCO C) You have been hired to…Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one more worker, the firm’s total monthly revenue will increase from $50,000 to $62,000. If he adds one more tractor, monthly revenue will increase from $50,000 to $58,000. Each additional worker costs $4,000 per month, while an additional tractor would also cost $4,000 per month. Instructions: Enter your answers as a whole number. a. What is the marginal revenue product of labor? $ The marginal revenue product of capital? $ b. What is the ratio of the marginal revenue product of labor to the price of labor (MRPL/PL)? : What is the ratio of the marginal revenue product of capital to the price of capital (MRPC/PC)? :5. The Marginal Product of the first worker is _______ units of output 6. Diminishing Returns sets in when output is equal to_______.7. The TVC of 90 units of output is equal to ______dollars.8. The TC of 125 units of output is equal to ______dollars.9. If the market price of output is equal to $2, then this firm will realize a profitof _________ dollars.10. If the firm employs 3 workers, its TVC is equal to _________dollars. Plz solved all part I give u thumb
