Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: 1. Find fixed cost 2. find variable cost 3. find marginal cost 4. find average cost

Q: A Company manufactures and sells one product. The product has the following cost and revenue data:…

A: Total fixed cost = 457816+100000+100000 Total fixed cost = 657816

Q: Two companies produce similar items for the same market. Company 1 produces 91 items and Company 2…

A: Given information The demand function for the 2 firms in the market P=A-q1-q2 The cost function for…

Q: 1. What happens to the reservation wage if non-labour income increases and why? 2. What economic…

A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…

Q: 1.4. Consider two economies, labelled A person be endowed with 20 units of the consumption when…

A: welfare economics matters are the investigation of what the portion of goods and products means for…

Q: . Start in Equilibrium (be sure to label all relevant points) b. Change at least one of the ceteris…

A: The total number of buyers and sellers in a certain area or region is referred to as a market. The…

Q: Gilberto and Juanita are farmers. Each one owns a 12-acre plot of land. The following table shows…

A: The country produces that good in which it has a ‘comparative advantage’ in producing that good. The…

Q: Review the neoclassical model's basic microeconomic presumptions regarding customer behavior.

A: Neoclassical model: This term refers to a model in which supply and demand is used to account for…

Q: In the ice cream industry, in the short run, what cost includes the cost of cream and sugar, but not…

A: The marginal cost-  is the difference in overall production costs resulting from manufacturing or…

Q: QUESTION 7 In the first chapter of The Wealth of Nations, Smith introduces the idea of the which…

A: Adam Smith is one of the principal defenders of Modern financial matters who is otherwise called the…

Q: Burger King has introduced new strategy by reducing the price of its Whopper by 75 percent if…

A:

Q: Price Figure 3-3 E 52 50 51 Quantity Refer to Figure 3-3. A change from Point A to Point E…

A: Supply refers to the quantity of the goods the producers are willing unable to produce in the…

Q: You have just moved to a new country to take up a two-year assignment. You need  to buy a car and…

A: In new car case  Cost of car = $20000 Depreciation= 50%  Value of car after 2 years will be $10000…

Q: • Use the data from the table below to construct correctly labeled side-by-side graphs showing the…

A: Microeconomics refers to the branch of mainstream economics that studies the behavior of individuals…

Q: 5   In a discussion with your friend, LeeAnna, you mentioned you have studied Price Elasticity of…

A: Price elasticity of demand (PED) is the number that describes how changes in prices of a certain…

Q: what is entrepreneur? in your own words essay

A:

Q: Divide each circle proptionately according to the percentage exports made up by primary products and…

A: The gross national product of a country is the total value of all goods and services generated by…

Q: What would the value of spending be if you had $1300 in savings and $2250 in income?

A: The benefit gained from spending would amount to $2,250.         Explanation: If you don't have any…

Q: Bond has a face value of ₡3000 and pays coupon of 12% per annum for 4 years, if the  market interest…

A: Note:- since you have asked multiple questions, as per the guidelines we can solve only one question…

Q: Discuss the relationship that exists amongst the three short-run total cost curves. Motivate your…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If you…

Q: Consider the market for High-Definition television sets in an average town in America. a. Start in…

A: In a free market, the equilibrium is attained by the forces of the demand and supply curve. The…

Q: Which of the following statements is correct? A. The manager's objectives are to increase profits…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output…

Q: A. → Use Hessian Matrix to classify the stationary point of the function - π = 50Q₁-20…

A: A scalar field is another name for a square matrix that contains partial derivatives of a…

Q: A local defense contractor is considering the production of fireworks as a way to reduce dependence…

A: The optimum level of output for a firm that maximises profit is given at the point where marginal…

Q: Consider a product market with three consumers X, Y and Z with demand function PX = 6 - QX, PY = 12…

A: Public goods are the goods which are non-excludable and non-rival in nature. Non-rival are the goods…

Q: It is known that in an economy the standard basket is compound according to this table: Year Food…

A: Given,

Q: 4. Add the old demand schedule and the demand schedule for the new students to calculate the new…

A: The distribution of the goods is ideal in a free economy. When a commodity's supply and demand are…

Q: Choose all answers that are correct:  the marginal cost is the slope of the... a. The variable cost…

A: Marginal cost = Change in total cost / Change in quantity of output

Q: 1.4. Consider two economies, labelled A and B. In each one, let every two-period-lived person be…

A: Two economies - A & B The young person's choice maximizes lifetime welfare Every two period…

Q: What happens in the market for bike sharing if the supply of bikes increases by more than the demand…

A: An equilibrium cost, otherwise called a market-clearing cost, is the buyer cost doled out to a few…

Q: Please pass question on to someone with more knowledge. I do not like using up my questions for…

A: The procedure followed is correct only. This is how it is done. There is only a calculation mistake.…

Q: A positive demand shock and negative supply shock, then equilibrium quantity will 1.3 a) the answer…

A: Negative demand shock: A negative demand shock reduces aggregate demand in the economy because…

Q: Give any Philippine Businesses/Companies that engages Internationally. Write at least a 2 paragraph…

A: One example of a Philippine business that engages in international business is Jollibee, a fast food…

Q: Does a surplus or a shortage arise at the original price when more firms produce   smartphones ?   A…

A: Demand refers to the quantity that a consumer wishes to buy at a particular price in a given period…

Q: Consider the market for pita bread. All else equal, when tastes change such that more people like…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: When timber mills process logs, they produce both beams and sawdust. In the market for timber beams,…

A: The concept of supply in economics is used to calculate the quantity of a good or service produced…

Q: 3. Determine the annual worth (AW) of a project, where it requires capital investment of BD 50,000,…

A: the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum Rate of…

Q: A Company manufactures and sells one product. The product has the following cost and revenue data:…

A: In economics, business, and cost accounting, break-even analysis refers to the situation where total…

Q: given a simple economy with consumption, government and investment. suppose income (Y)= 1000 , the…

A: Gross Domestic Product refers to the total income of an economy which are the incomes from all…

Q: Revenue and cost figures can be observed in the table below for Greensons Organic. Use the…

A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…

Q: 6. Explain the following quotations; 1. " Greater production is not tantamount to greater profit"…

A: In the field of economics, it is assumed that firms work towards maximizing profits. The profits of…

Q: a. Start in Equilibrium (be sure to label all relevant points) b. Change at least one of the ceteris…

A: Supply and demand, two economic forces, govern the creation of goods and services in a market…

Q: • Use the data from the table below to construct correctly labeled side-by-side graphs showing the…

A: Microeconomics refers to the branch of mainstream economics that studies the behavior of individuals…

Q: Like a good economist, you calculated the cost of getting your college degree, including the…

A: Let's summarize the given information  Tuition cost in university is $12000 per year The total cost…

Q: Why would neoclassical economists think that the government doesn't need to take many steps to…

A: People that are able to work but are unable to do so are considered to be unemployed. People who are…

Q: All sellers may be tempted to raise the price of what they sell, but an unintended effect of raising…

A: Supply curve shows association between the quantity supplied by a seller at different prices keeping…

Q: Name and explain the main economic advantage of business combinations. Regarding business…

A: A business combination is an exchange wherein the acquirer gets control of another business.…

Q: SM is on sale; all non-perishable goods are discounted by 30%. A man buys 2 pants of P500 each, 2 kg…

A: Introduction A men buys pants, fish and bags. But here are 30% discount on the non - perishable…

Q: According to the figure showing 2020 GDP for selected countries, how much larger (in percentage…

A: We use the following formula to calculate the percentage asked: For Russia:  America's GDP -…

Q: Suppose you find that MU1(x1+x₂)=2x2 and MU₂(x1+x₂)=2x1. What is the rate at which the consumer is…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: O'Sullivan, 2.12) Consider a region where the self-sufficient wage is constant at $4. Suppose the…

A: A payoff matrix is a procedure for communicating the consequence of players' decisions in a game. A…