JPOLT-8Kx 26. Finding ways to limit competition led to a fortune in the oil business for O A. J.P. Morgan O B. John D. Rockefeller O C. Henry Ford O D. Andrew Carnegie
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- 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.Title: Profit-maximizing behavior in perfectly competitive factor markets The value of a firm’s marginal product of labor (VMPL)(VMPL)left parenthesis, V, M, P, L, right parenthesis equals the marginal revenue product of labor (MRP_L)(MRPL)left parenthesis, M, R, P, start subscript, L, end subscript, right parenthesis. What kind of market does this firm sell its product in? Choose 1 answer: A. a monopoly market B an oligopoly market C. a monopsony market D a perfectly competitive market E a monopolistically competitive marketSolve the firm's profit maximization problem. c(y) = W1X1 + W2X2
- Give typing answer with explanation and conclusion A new law requires companies to pay a 40% premium on the wage rate for employees working time beyond 8 hours within a day. If an employer currently pays its workers $30 per hour for a 12-hour workday, what hourly wage should the employer offer so that the total pay for a 12-hour workday stays the same as before?1. Where does a firm set its outlut .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…How do we measure a Herfindahl—Hirshman Index? What does a low measure mean about the extent of competition?
- Should a firm shut down immediately if it is making losses?Does either the four-firm concentration ratio or the HHI directly measure the amount of competition in an industry? Why or why not?Our firm produces two products: generators and solar panels. Name five economies of scale you would expect our company to leverage and explain how you would expect the company to leverage them.