Ralph runs a small bakery in D.C. He is debating whether he should extend his hours of operation. He figures that his sales revenue will depend on the number of hours the bakery is open. This detail is shown below. Hours Open 1 2 3 4 O 4 hours 5 6 O none of the above O2 hours O 3 hours O 5 hours Revenue ($) 35 60 80 92 100 105 The hourly wage is $12/hour. How many hours should he stay open? Marginal Revenue ($) Marginal Costs ($)
Q: Consider the following supply schedule for shoes. Price Quantity Supplied $5 425 $10 445…
A: Price elasticity of supply measures the percentage change in quantity supplied due to percentage…
Q: An economy has neither imports nor income taxes. The MPC is 0.75 and the real GDP is $120 billion.…
A: Aggregate demand is the sum of consumption, investment, government spending and net export. The…
Q: An economy has neither imports nor income taxes. The MPC is 0.75 and the real GDP is $120 billion.…
A: The equilibrium is where the aggregate demand curve intersects the aggregate supply curve. The…
Q: To what extent were the actions taken by Teens take charge in Save SYEP successful?
A: Summer Youth Employment Program (SYEP) is an employment program in NYC that provides career…
Q: The 3-month June 2023 dollar interest rate futures contract is currently priced at 95.50. The…
A: An interest-rate futures contract is an agreement between the seller and buyer for the sale of an…
Q: The demand curve for a monopolist is inelastic. Why?
A: A monopoly is a market structure in which total market control is exercised by just one seller.…
Q: The demand equation for milk is p = 44.894 − 0.23x, and the supply equation is p = 0.053x, where p…
A: Demand and Supply of milk in the economy: Here, the demand function is- p = 44.894 - 0.23x and the…
Q: (Table: Marginal Utility per Dollar of Twix) Use Table: Marginal Utility per Dollar of Twix. The…
A: Marginal utility per dollar (also known as the marginal utility-to-price ratio) is a measure of how…
Q: 1. Tonio wants to have P95,000 for his traveling expenses four years from now. How much must he save…
A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…
Q: Quikpak sells returnable containers to major food processors. The price received for the containers…
A: In economics, the total cost of each element of production includes the entire opportunity cost…
Q: Ś 50 48 46 44 42 40 38 36 34 32 30 28 26 26 24 22 20 18 16 AVC ATC MC 14 12 10 8 6 4 2 0 0 0.5 1 1.5…
A: Here, the given graph shows the average total cost, average variable cost, and the marginal cost…
Q: Explain the consumption duality to derive Marshallian and Hicksian demand curves. Discuss why this…
A: Neoclassical economics is a wide theory that concentrates on supply and demand as the driving forces…
Q: Using the AD-AS model discuss the implications of the natural rate hypothesis for economic policy.
A: The natural rate hypothesis: The natural rate hypothesis formulated by Milton Friedman depicts two…
Q: Define the Role and Coverage of Financial Institutions in providing credit t the Agriculture Sector…
A: A financial institution refers to an organization that provides financial services, such as…
Q: Kratos plans to build a new house in Midgard and borrows €100,000. The loan states that the money…
A: A monthly annuity is a series of equal payments made on a regular basis, typically monthly. It can…
Q: he entities on which data are collected are Group of answer choices None of these alternatives is…
A: Data are collected to study the population behavior. The data are key to take economic decisions.…
Q: China’s economic transformation since the late 1970s has been a process of neoliberalization,…
A: Economic transformation is the process of altering an economy's composition and functionality. This…
Q: Choose the best answer and provide a solution. How much will a deposit of P1,000.00 be in 20 years…
A: In economics, compounding refers to the process of earning interest on both the original principal…
Q: The January 2023 S&P 500 cash index is 3950 points while the S&P 500 futures March 2023 index is…
A: To minimize the risk of the pension fund, the fund manager should sell a futures contract on the…
Q: Seafarms is building a new plant where the equipment maintenance costs are expected to be $150 the…
A: Given P =$150 Increase in cost every year = $50 The expected life of the plant = 10 years Interest…
Q: Alice only consumes bread (x₁) and butter (x2). Her preferences over these goods are represented by…
A: Economics uses the term "utility" to define a good or service's value or worth. Utility is, more…
Q: Discuss the effects that COVID-19 may have had on the money multiplier. Give at least two examples…
A: A measure of how much the money supply expands in response to an increase in reserves held by…
Q: Supermarché Jean Claude has decided to manufacture its own brand of non-alcoholic beverages, called…
A: The production possibility curve represents all the possible combinations of the products and…
Q: On December 30, 1974, the hypothetical country Alpha decided to introduce a minimum wage policy.…
A: The Minimum Wage is meant to prevent employers from paying any employee a wage that is less than the…
Q: Using the IS-LM-UIP diagram, show and explain the effect of the increase in taxes in the fixed…
A: A fixed exchange rate is a policy put in place by a government or central bank that connects the…
Q: (i) The Chinese Renminbi (RMB) is very strong against the US dollar due to increased supply of…
A: A country's trade and the flow of money between nations are regulated by the exchange rate, which is…
Q: James deposited $150 at the beginning of each month for two years into his savings account. For the…
A: Monthly deposits = 150 Interest rate = 4% compounded monthly Monthly interest rate = 4% /12 =…
Q: Calculate the external rate of return using the MIRR method if i;= 18% per year and i = 10% per…
A: External rate of return is the return that considers the interest rate that is external to a…
Q: (a) What is meant by consumer surplus and producer surplus? Using a diagram show that there is a…
A: The additional gain received by both producers and consumers in an economic transaction is used to…
Q: What is globalization. What is the pro and con of it.
A: Globalization refers to the interconnectedness of countries through the exchange of goods, services,…
Q: A software firm has only two inputs to production: domestic programmers based in the firm’s U.K.…
A: The production function shows the functional relationship between the inputs and the output…
Q: Cyclists travel faster on their bicycles when wearing helmets. Is this an example of adverse…
A: Moral hazard refers to a situation where one party's actions can affect the welfare of another…
Q: Draw a negatively sloped yield curve and label it curve 1. On the same diagram draw a new yield…
A: The yield curve has long been used as a measure of the condition of the economy. Typically, a…
Q: Solar 25,000 × 7= 125,000+10,000= 135,000 3,000 0 0 3.5% 1.5% 25 25 ALTERNATIVE A: A solar panel…
A: Present value depicts the current value of the future series of payments received from an annuity…
Q: 3. Jeff opens a charge card account with a department store. In the charge account agreement, the…
A: The nominal interest rate is the rate of interest quoted by a lender or financial institution before…
Q: 15. How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded…
A: The current worth of a future cash flow that has been discounted to reflect time value of money is…
Q: 1) What are the key differences between the theory of multinational enterprises and conventional…
A: Trade: The primary theory of economics includes the buying and selling of goods and services with…
Q: Discuss the effects of trade policy on poverty and inequality. Despite potential adverse…
A: Trade policy can have a significant impact on poverty and inequality within a country.…
Q: ALTERNATIVE A: A solar panel costs 25,000. 7 solar panels are needed in a company. The installation…
A: Given that; Power line Solar First cost 20000 25000×7=125000+10000=135000 Annual cost…
Q: Assume that a monopolistically competitive industry is in the long-run equilibrium. Show the effect…
A: Monopolistic competition is a type of market structure.
Q: Alice would be willing to pay up to £15 for a gamble giving a 35% chance of £50 and a 65% chance of…
A: Given information 35% chance of getting 50. 65% chance of getting 10. Alice is willing to pay up to…
Q: QUESTION 41 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: 10…
A: A perfectly competitive firm is a price taker, and that implies that it should acknowledge the…
Q: Consider the product mix problem summarized in the table with 3 products (A, B, and C) and 5 types…
A: A product mix problem determines the combination of products that are used by an organization to…
Q: (Figure: Budget Lines for Tangerines and Watermelons) Use Figure: Budget Lines for Tangerines and…
A: Alberts Income = $5. Price of Tangerines = 0.50 and Price of Watermelons = 0.25
Q: Suppose the price elasticity of demand for the market of mobile phones is 0.90. If all…
A: Price elasticity of demand refers to the degree of responsiveness of quantity demanded to change in…
Q: Wonderland is a developing economy with two distinct regions. The eastern region has great…
A: As wonderland is a developing economy with two distinct regions. The development of the financial…
Q: Jennifer is working on a word puzzle and is looking for four-letter "scrambles" form the clue word…
A: Jennifer is working on a word puzzle and is looking forfour-letter "scrambles" from the clue word…
Q: “Prices gouging” is the practice of raising the price of essential goods during a shock to demand.…
A: The supply and demand framework is a basic model used in economics to explain how prices are…
Q: (Table: Optimal Choice of Yogurt and Cheese) Use Table: Optimal Choice of Yogurt and Cheese. The…
A: The principle behind utility maximisation is that individuals seek to get the most out of their…
Q: A consumer has a budget of $3000 in a given period, and wishes to buy two goods, X and Y, so as to…
A: "Rational consumers buy and consume goods in order to gain maximum satisfaction or utility from…
Asap plzz...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Johnson Controls spent more than $2.5 millionretrofitting a government complex and installing acomputerized energy-management system for theState of Massachusetts. As a result, the state’s energybill dropped from an average of $6 million a yearto $3.5 million. Moreover, both parties will benefitfrom the 10-year life of the contract. Johnson recovers half the money it saved in reduced utility costs(about $1.2 million a year over 10 years); Massachusetts has more money to spend on other things. Whatis the rate of return realized by Johnson Controls inthis energy-control system?1. Direct laborrate: $15.00perhour Production material: $375 per 100 items Factory overhead: 125% of direct labor Packing costs: 75%ofdirectlabor Desiredprofit: 20%oftotalmanufacturing cost use the above information to answer how many units must be sold to achieve a profit of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired profit. 2. A small textile plant was constructed in 2004. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2014 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years. Show work and Select the closest answer. a) $4,618,000 b) $10,623,000 c) $14,342,000 d) $ 14,891,000Upon graduating with an accounting degree, you open your own accounting firm of which you and your assistant are the only employees. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $50,000 annually. Last year you earned a total revenue of $120,000. Rent and supplies last year were $50,000. Your assistant's salary is $30,000 annually. annual operating profit? A) -$10,000. B) $40,000. C) $70,000. D) $80,000.
- Sandra Mahfood is one of 15 Grace distributors in the island. She has contracted with Kerry Foodsto supply its chain of supermarkets with various Grace items.Ms. Mahfood’s contract, which is renewed annually, states: "You will be providing Kerry Foodswith your services, as and when they are required, during the term of the contract". Ms. Mahfoodoperates on her own time and is paid a salary of $10,000.00 plus travel expenses. She is responsibleto pay for her own statutory taxes and is not covered for damage to her health or damage she mightsustain or cause while providing the service to Kerry Foods.While supplying one of the supermarkets in Mainland, Ms. Mahfood failed to stop at a stop signin the parking lot and hit a pedestrian. This resulted in the pedestrian sustaining injuries.A. Identify the type of Contract between Sandra Mahfood and Kerry Foods. B. Distinguish between Contract of Services and Contract for Services. C. State whether the pedestrian can sue Kerry Foods for the…pls answer this on paperYou own a family farm, worth $500,000, and need to decide what to do with this year’s earnings of $400,000. (i) You could put the money in the bank and earn a safe 5% return. (ii) Or you could pay $200,000 to plant a new crop, which will yield a harvest in six months; if there is rain, the harvest will bring in $1.000,000 in revenues, but if there is a drought it will yield just $100,000 in revenues. (iii) A third alternative is to plant Santo drought-resistant seed corn, which will cost $500,000, but yield revenues of $1,000,000 if there is rain or $700,000 if there is no rain. You are risk averse, and your reference for family wealth (W) is given by U(W) = √W [Square root of W]. The probability of a summer drought is 0.33. Which of the three options should you choose? Explain.
- Mutale, a lawyer, working for a large law firm and earning K60, 000 per year, is contemplating setting up his own law practice. He estimates that renting an office would cost K10,000 per year, hiring a legal secretary would cost K20,000 per year, and purchasing supplies, paying for electricity, telephone and so forth would cost another K5, 000 per year. The lawyer estimated that his total revenue for the year would be K100, 000. a) How much are the explicit costs of running the law firm? b) How much are the implicit costs? c) How much are the economic costs? d) Should the lawyer go ahead to set up the law firm?Give typed solution only You are deciding whether to buy a car for $22,000 or to accept a lease agreement. The lease entails a $800 fee plus monthly payments of $260 for 48 months. Under the lease agreement, you are responsible for service on the car and insurance. At the end of the lease, you may purchase the car for $9000. Does the total cost of purchasing the car at the end of the lease agreement exceed the cost of purchasing the car at the outset? A.Yes, the total cost of the car at the end of the lease is B.No, the total cost of the car at the end of the lease is c) What is the monthly profit or loss if the company stays with Clunker and sells 90,000 bags per month? The monthly profit or loss if the company stays with Clunker and sells 90,000 bags per month is $enter your response here. (Round your response to the nearest dollar and include a minus sign if necessary.)
- It’s time to get a new laptop that is $2500. If you save up for it each month it will take one year in an account that earns 5% annual interest. (A)How much would you have to put aside each month to have enough for it? (B)What are the total acquisition costs of saving up for the laptop? answer it using the annualize percentage change formulaQuestiion 4.1Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $55,000 and her store made $120,000 in profits (not counting payment to her top manager). She suspected the store could do much better and feared the fixed salary was causing her top manager to shirk on the job. Therefore, this year she decided to offer him a fixed salary of $28,000 plus 15% of the store's profits. Since the change, the store is performing much better, and she forecasts profits this year to be $260,000 (again, not counting the payment to her top manager). Assuming the change in compensation is the reason for the increased profits, and that the forecast is accurate, how much more money will the owner make (net of payment to her top manager) because of this change? Does the manager make more money under the new payment scheme?