Use the concepts of production and cost to explain why NASCAR teams might have to spend far more to move up from an average finish of 2nd to 1st than from 20th to 19th.

Q: Supply of Money Suppose the monetary base is GHS 800 billion, the current reserve-deposit ratio is…

A: a cash multiplier is one of different firmly related proportions of business bank cash to national…

Q: Explain UK small business with appropriate examples

A: A small company is one that operates on a small scale and requires less capital investment, fewer…

Q: 5. Choice between direct exporting and FDI Das Spielzeug is a profit-maximizing firm producing…

A: The best production strategy is a strategy that minimizes the overall average cost of production.

Q: Find the sales tax and total sale. Item marked price Sales tax rate Sales tax Total sales $582.41…

A: Given; Marked price= $582.41 Sales tax rate= 5.017% Formula to Sales tax:- Sales tax=Price of…

Q: Opositively affect aggregate real output in the long run. negatively affect the real quantity of…

A: Introduction. This is a MCQ question of inflation

Q: Merck is a multinational American company, headquartered in the US Steve is an American citizen who…

A: Multinational companies are those companies who operates or do businesses more than one nations .

Q: Question 12 For each of the following pairs of goods, tell me which of the two goods you predict…

A: At the marketplace, the demand will be more elastic for a product if there is relatively more…

Q: exercise equipment company produces exercise equipment designed for people with back injuries. Since…

A: In advertising, the term market alludes to the gathering of shoppers or associations that is keen on…

Q: Use the framework of the Romer model and the following parameters to determine the growth rate of…

A: Romer took three vital components in his model, in particular externalities, expanding returns in…

Q: 1. Suppose that the National Bank of Georgia increases the money supply. How would that affect the…

A: Inflation is the pace of expansion in costs over a given timeframe. Inflation is normally a wide…

Q: Explain the advantages of Islamic economics

A: The core concepts of Islamic economics are taken from the Holy Quran, and are backed up by hadith…

Q: a) Draw the demand process cycle and label it fully. b) A door company has the following materials…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: For the following exercise, refer to the graph of the coffee market on the right. Event: Suppose…

A: "Demand curve indicates an inverse relationship between price of a product and quantity demanded of…

Q: The newly founded country of Cardamom, which has similar laws to the United States, has a wealthy…

A: Those actions which are reasonable known as Plausible actions whereas those which are not reasonable…

Q: When capital recovery (CR) is calculated, the annual operating maintenance (AOC) is: Select one: O a…

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

Q: our client, InsureCorp, is an insurance company considering launching an ‘income insurance’ product…

A: An insurance policy is a type of contract in which one party, the insured, is indemnified against…

Q: Which of the following WOULD be counted in GDP? Baking a cake for a family gathering Buying some…

A: The answer is - Paying a local kid cash to cut your grass

Q: Consider the following game (image attached) (i) Can Backward induction be applied in this…

A: In the field of game theory, a Nash Equilibrium is a collection of strategies, one for each…

Q: The Treasury notes that there are several ‘risks’ to its predictions. These include that “ The…

A: The Russia-Ukraine war will not only impact these two countries but will impact the world trade as…

Q: 23, Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards.…

A: Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards. He…

Q: Explain the main economic issue law and lawlessness ,and describe the factors that cause…

A: Most economic activities and exchanges contain key characteristics that, when combined, necessitate…

Q: Following a real GDP - trough; increases trough; decreases peak; increases Otrough; decreases for…

A: Answer: Trough: it refers to the lowest point of declining business activities. After the trough,…

Q: B1. In a closed economy, these are the demand and supply curves in the perfectly competitive apples…

A: According to the question, it is given that : There is a closed economy and a perfectly competitive…

Q: A consumer chooses an optimal consumption point where the marginal rate of substitution equals the…

A: Budget line shows different combinations of goods that a consumer can purchase with the given budget…

Q: The maintenance cost of Ford Manufacturing Plant, Dearborn, Michigan will increase according to an…

A: Equivalent annual worth gives the value or the amount that is incurred as cost in the maintenance of…

Q: If the output level is such that the Y=AE line (45-degree line) is below the aggregate expenditure…

A: Answer: If the Y=AE line lies below the aggregate expenditure line it means the aggregate…

Q: Data generally education not worth it? Multiple Choice that the meme dide When a student incurs debt…

A: An investment is an asset or thing procured determined to generate income.

Q: Suppose that a firm produces 100 units a month and sells them all for $5 each. The explict costs of…

A: "Explicit costs are direct expenses incurred by the business in the process of production of…

Q: Under free-trade conditions, suppose Australia imports TV sets at a price of $100 each. Determine…

A: A country imports a particular product only when the free trade price of the product is less than…

Q: A materials engineer wants to understand the relationship between the strength of plastic cases and…

A: Introduction Coefficient of determination is used for the interpretation of coefficient of…

Q: Assume that the economy is in a full employment equilibrium. There is an increase in consumer…

A: Aggregate demand (AD): - It is the total demand of goods and services in an economy at a particular…

Q: 11 Q3. y LAK and (p = $10, w = $5,r= $5). Find the optimal labor and capital, (L", K") to maximize…

A: Optimal labor is that quantity of labor that maximizes the production and profit and also minimizes…

Q: Extract B (lines 2-3) states: 'a recent survey found that only a third of adults had used a library…

A: Demand for library services has fallen drastically.

Q: (a) Define the following terms: (1) Absolute advantage; (2) Comparative advantage. Consider the…

A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity…

Q: Suppose in Year 1 a country has an inflation rate of 10% and in Year 2 the country has an inflation…

A: Disclaimer :- Since you asked multiple question we are solving the first 1 only as per the…

Q: a) What is the equation for the firm's short-run marginal cost (SRMC) curve. Draw it on a graph with…

A: Here, the short run total cost is SRTC=200+5q+0.5q2 where q is the number of rugs a firm produces.…

Q: The goal of many countries is to have: 1) A distinction between high employment and low employment…

A: There are few macroeconomic goals most of the countries work to have.

Q: Consumer satisfaction from consuming goods X and Y is as follows: U=10X+14Y-X2-Y2 and consumer…

A: Consumer equilibrium is the situation where he gets maximum satisfaction level of utility with given…

Q: Suppose that autonomous consumption is 2,190, government purchases are 590, taxes are 0, planned…

A: An autonomous spending depicts the parts of an economy's total use that are not influenced by that…

Q: When the price of ulcer medication increased by $20 per 100 tablets, a drug company's revenue…

A: Given; Increase in price= $20 per 100 tablets. Increase in revenue of the drug company= $10 million

Q: Consider the market for steel. Suppose that a steel manufacturing plant dumps toxic waste into a…

A: Social cost is a sum of private cost and external cost. External cost is the cost imposed on society…

Q: Consider the market for oranges. What happens when fewer Visas for temporary workers reduces the…

A: The curve that depicts various quantities of goods and services being supplied at different price…

Q: Which of the following industries had the highest unionization rate in 2011? O Construction…

A: Unions are the instructions that are created by the employees. Unions protect the interests of the…

Q: What will happen if two assets are earning the same expected return, but one is more risky than the…

A: The uncertainty that may occur in the future is referred to as risk. The minimum profit you obtain…

Q: James enjoys having either a peanut butter sandwich or a bologna sandwich for his lunch. A drop in…

A: consumer equilibrium is the situation where consumer gets utility maximised with given level of…

Q: Consider the price-taker market for sports jackets. The following graph shows the marginal cost…

A: in short run and long run the , the firm should continue the business of not it depends on the…

Q: Consider the economy of XYZ, has the following indicators in the table below: Ct = 0.7Yt ̅Gt = 0.2Yt…

A: Disclaimer :- Since you asked multipart question we are solving the first 3 subparts as per…

Q: Naked Economics: Undressing the Dismal Science Book by Charles Wheelan   This question is based on…

A: Answer: Budget deficit: it the government spending is more than the government revenue then there…

Q: In a DBOMF contract arrangement, the contractor is responsible for managing the cash flow to support…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: QUESTION 9 A company currently sells for $100 a product that has a variable cost per unit of $48.…

A: Variable costs change in light of how much result created. Variable expenses might incorporate work,…

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.