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Q: 3. Explain why speed is important in the production process of the fashion industry, but why…
A: Fast fashion is a boon for retailers due to the constant introduction of new products encouraging…
Q: Montresor Fortunato's PED for amontillado (a pale dry sherry) is known to be 1.78 when price is…
A: PED, price elasticity of demand is a measure that captures the responsiveness of a goods quantity…
Q: Lt a product price of $56 Vill this firm produce in the short run? ii) If it is preferable to…
A: Short run is defined as the time period in which atleast one of the factors used is fixed and others…
Q: 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles.…
A: As per the question, the short run is the period where the firm would not be able to adjust with…
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: 5. The following are some of the costs of a clothing manufacturer. State which among them will you
A: Fixed costs, otherwise called roundabout costs or upward costs, are operational expense that are not…
Q: Who’s in the flow? By understanding the following image ans the following question: the role of…
A: The circular flow of income is an economic model that represents transactions that occur in a market…
Q: Alan buys a basket of apples on sale for $7 before tax. The sales tax is 12.5%. What is the…
A: Before the tax sale price of apples = $7 Sale tax = 12.5% The total tax would be 12.5% of $7
Q: Quantity TC TVC AFC ATC MC AVC 1 200 2 100 3…
A: Total Fixed cost is same at all levels of output. Variable cost is the cost that varies with the…
Q: Suppose Bull Gator Ben has paid his $14,300 donation and purchased eight season tickets at $32 per…
A: Total Profit = Total Revenue - Total Cost In case of profit total revenue exceeds total cost and in…
Q: Bob recently retired. A. seasonal frinti
A: Labor force = employed+unemployed
Q: (a) What is the profit-maximizing level of output and how much daily profit will the producer below…
A: 2 (a) The perfectly competitive firm is a price taker and can sell any quantity of commodity at the…
Q: FOR CHART, FIND: Mid-point AVG Quantity Total Revenue (pxQ) Fixed costs calculations Variable…
A: A perfectly (PC) competitive firm always tries to maximize its profits and attains equilibrium when…
Q: The table below is extracted from Goodland Republic Bureau of Statistics records for 2016-2017. Use…
A: Nominal GDP : GDP calculated in prices of the current year.
Q: Suppose you are Marketing Manager of a Football making company. What Macro Environmental factors…
A: Macro Environmental factors are uncontrollable external forces that impacts decision making of a…
Q: 1- Explain briefly perfect market cond:
A: There are four types of market structures in economics: (1) perfect competition, (2) pure monopoly,…
Q: 2. Individual Problems 21-2 Planes frequently push back from the gate on time, but then wait 2 feet…
A: Given: To Find: In this scenario, who does not have an incentive to push back from the gate as…
Q: Please read the article attached below titled “Notable & Quotable: Gouging” (March 31, 2020) and…
A: A perfectly competitive market is a place where there are large numbers of buyer and sellers.…
Q: hual 1 menunjukkan beberapa data harga dan kuantiti untuk sebuah ekonomi sederha. g menghasilkan…
A: GDP measures the market value of goods and services produced within an economy within a given period…
Q: 2/4 class 2 revenue Microsoft PowerPoint View Text Direction Shape Fitl Shape Outline u6ite -Convert…
A: The total cost incurred by a firm operating in a market includes fixed cost and variable cost. Fixed…
Q: 12) Referring to question # 1, what is the Marginal Cost to produce 1 more unit?
A: 12. The cost of production is the summation of all the costs incurred while producing the commodity…
Q: Sara is planning to start a new designer cloth shop. Her problem is to decide how large her shop…
A: (i) Pessimistic criteria: Pessimistic refers to a person's attitude of constantly expecting the…
Q: Using the midpoint formula, calculate elasticity for each of the following changes in demand.
A: -1 -0.355 62 -0.5775
Q: Principles of Microeconomics Name: Homework #3 Prof. R. Harris DUE: Wednesday, April 17, 2019 at the…
A: Let us first understand what the following costs mean:Total Cost (TC): Total costs are the total…
Q: A. Explain, how or why the commodity (say bottled water) market can be considered as a good example…
A: A commodity market is a market that trades in the primary economic sector rather than manufactured…
Q: 5. If you have the following table fill in the blanks : TFC TVC MC AC 200 1 40 76 3. 106 130 150
A: The formula used to fill the table: Total cost = Total variable cost + Total fixed cost TC = TVC +…
Q: Price () 8. 6. 4 Output (units) TR () 3 4 MR ()
A: Total revenue (TR) means the total amount of income earned by a seller from selling units of a good…
Q: Fverry mile le Venue A = Venue B: Miles 2 The table shows the cost of hiring two different venues.…
A: "Since you have posted multiplier part question and mentioned to solve part 'e', I am solving that…
Q: 2. Individual Problems 21-2 Planes frequently push back from the gate on time, but then wait 2 feet…
A: What motivates the ordinary person to put in extra effort, aim higher, and succeed in their…
Q: Question 1. Suppose it costs XYZ Airline 120,000 dollars to fly its 500 - seater A380 passenger…
A: Average cost per seat = Total cost / Number of seats
Q: ACTIVITY: 005 A. Complete the following table using data below: FC VC AVE. TC MC OUTPUT 1. 6. 10 16…
A: Fixed cost refers to the cost incurred by the firm that is independent of the output. Whereas,…
Q: Explain the economics in terms of Additive manufacture (AM
A: Production is the process of using inputs (the factors of production) to make useful output. Cost…
Q: given in the table below: Years Calculators Notebooks 1. Quantity Price Quantity Price 2017 400 $35…
A: Nominal GDP versus Real GDP Since GDP is perhaps the main measurement for assessing the financial…
Q: Are there any major sales revenue as well as side revenue that can be earned in the business?
A: Revenues are the amount that is earned by the business.
Q: b What they show? Interpreter them. C. If the number of IT graduated students rise to 400 in 2020…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 2. (a) What is the profit-maximizing level of output and how much daily profit will the producer…
A: a. The total revenue can be calculated by multiplying the output with the price level. In this case,…
Q: Quantity (Cases) Price Total Revenue Marginal Revenue Marginal Cost Average Total Cost Total Cost 0…
A: The profit-maximizing output is the level of output when profit is maximum.Formula:Profit=Total…
Q: 8-hour physical work capacity 60% 40% 20% 0% 3 4 5 7 Time Working on Job Figure 2: Maximum physical…
A: here we explain the MPWC shown in the given diagram of male and female as follow;
Q: 3) What rule do economists follow to determine the quantity that should be produced in order to…
A: 3) Profit maximization is the key feature or characteristic of the firms. Under this problem of…
Q: Analyze relationship btween law of demand and law of diminishing marginal cost?
A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…
Q: COSTS REVENUES- Quantity Tetal Marginal Quantity Total Marginal Produced Cest Cest Demanded Price…
A: Maximize profit is where when MR=MC , so here we calculate the table and complete it and calculate…
Q: 4. Complete the table below Output VC FC TC AVC AFC ATC 30 4 2 40 48 4 63 5 46 6. 70
A: Output VC FC TC AVC AFC ATC 0 - 30 30 - - - 1 4 30 34 4 30 34 2 10 30 40 5 15 20 3 18 30 48…
Q: 4. A decision at the margin Raphael is a hard-working college senior. One Saturday, he decides to…
A: When a consumer purchases an additional good or service, he or she earns a marginal advantage in the…
Q: Define the terms “Short Run” and “Long Run”. b. Would the short run be longer for Tonino’s Pizza…
A: a. Short run is defined as period during which at least one of the factors of production is fixed or…
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- Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?What term would an economist use to describe what happens when a shopper gets in good deal on a product?Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?
- Complete the table below Quantity TC TVC AFC ATC MC AVC 1 200 2 100 3 20 4 240 5 24 6 660 160The reaping, processing and sale of sugarcane is a booming sector. However, the late1990s and early 2000s saw a crisis for sugarcane producers. During this period, thequantity supplied of sugarcane outweighed quantity demanded and the market was inturmoil.Over time the price of sugarcane recovered after 2014, peaking in July 2018. In part, thiswas due to farmers diversifying into other crops; in part, it was due to buoyant globaldemand for alternate products. In 2019, however, a combination of good harvests and afall in fertilizer sugarcane prices caused supply to increase substantially. Althoughdemand was still growing in developing countries, the onset of recession in developedcountries was halting the growth in demand. a. Illustrate and explain how the market for sugarcane will maintain equilibriumover time given the problem that exists in the late 1990s and early 2000s. B. Explain how revenue for sugar cane would have been impacted in July 2018relative to the early 2000s.Since most consumers spend very little on salt, a small increase in the price of salt will:A. reduce quantity demanded by a large amountB. not reduce quantity demanded by very muchC. not change quantity demandedD. increase quantity demanded by a small amount 2.Fred is considering opening a ski shop in Colorado. Assume Fred will incur the following costs: building rent= $100000/year, inventory= $250000/ year, energy=$50000/year, and labor (one clerk) = $10000/year. In addition, Fred’s current income as a computer programmer is $40000 per year. Assuming Fred would earn $ 460000 in revenues, he could expect to earn:A. an accounting profit of $10000 per yearB. an accounting profit of $ 60000 per yearC. an economic profit of $ 10000 per yearD. an economic profit of $50000 per year 3.Suppose a firm employs only capital and labour (K and L) and its production function is Q = 2KL. If the quantities of labour and capital are fixed at K =10 and L = 25, then:A. total output cannot exceed 125B.…
- Price1 Price2 Quantity 1 Quantity2 demand for a.cashews 7.50dollar per pound 6.00 dollar per pound 800 pounds per month 1,000 pounds per month 65 per year b.portable hard drive (1 terabyte) 80 dollar 120 dollar 75 per year 65 per year c.12-gauge copper wire 0.60 per lineal foot 0.45 per lineal foot 2,5000 lineal feet per week 5,000 lineal feet per week d.Toothpaste 2.00 dollar per tube 2.40 dollar per tube 10 tubes per moth 9 tubes per month Using the midpoint formula, calculate elasticity for each of the following changes in demand.11- Al Shaihani is a halwa manufacturer which is famous for Omani Saffron Halwa. They wanted to increase their supply of halwa for the coming month of August 2021. However, due to COVID-19 Pandemic, the only available resources they could change are the number of their workers. Determine which type of production period Al Shaihani business is facing? a. Long run b. All of these c. Short - run d. Mid-runQuestion: How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain. need help
- Course: Microeconomics - Theory of ProductionA field produces wheat. Land is a fixed factor, so the annual harvest depends on the number of hired workers. The following table shows the production of the farm measured in quintals per year. Workers 1 2 3 4 5 6 7 8 9 10 Total Product (TP) 125 ? ? 725 925 1.125 1.275 1.275 1.175 1.000 Average Product (AP) ? 150 ? ? 185 184 175 160 131 100 Marginal Product (MP) ? ? 200 ? 200 180 120 50 -100 -175 We ask: 1) Fill in the missing spaces in the table. 2) The farmer can hire workers for w (salary) = 1,200,000. The price per quintal of wheat is $10,000. How many workers should she hire and why?3) Suppose now that the price is COLLECTIVE OWNERSHIP and no wages are paid, but production is shared equally among those who produce it. How many members should be accepted in the COOPERATIVE if the welfare of the participants is to be maximized?Question: How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain. please answerSuppose you are Marketing Manager of a Football making company. What Macro Environmental factors will affect your marketing decisions and also explain how will these factors affect your marketing decisions.?
