ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 9, Problem 5.6PA
To determine
The reasons for worse performance of the society under
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Question 17:
The sequence of processes required to produce and distribute a product is know as
A
Supply chain
B
Conglomeration
C
Integration
D
Process Management
Assignment Content
Suppose a firm uses sugar in a product that you purchase. The firm vertically integrates by purchasing sugar farms that produce the sugar organically and in a way that makes it also sustainable for the environment. How would that influence your demand for that product? What other purpose than profitability might cause the firm to make this decision to vertically integrate in this way?
Your journal entry must be at least 200 words in length. No references or citations are necessary.
6. The price for the effort and energy of the entrepreneur used in production is part of the _____.
a.
Real cost
b.
Nominal cost
c.
Opportunity cost
d.
Explicit costs
Chapter 9 Solutions
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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- 4 The higher labour costs under skilled-based pay indicate that it may be a better fit to companies where _____________. labour costs are a small share of total costs labour costs are a large share of total costs employees lack motivation to increase their skills employees focus on seeking promotions to earn more pay the focus is on average performance rather than optimum performancearrow_forwardquestion7) the following is the total cost function and demand function of a certain firm TC= 100 +20Q + 7QQd = 130-2Pa)- What is the type of this market? why? b)Calculate the profit maximizing level of output and price for this firm. c) Does the firm make profit or loss at this level of output? Why? d)Should the firm produce this level of output or shut down? Why? please all do subparts because I have very urgent solutionarrow_forward27-Muscat Electricity Distribution Company disconnected the electricity supply to a flat owned by a very poor family that was not able to pay electricity bills for the last 6 months . This action is: O aEthical and illegal O b Unethical and illegal Oc Unethical and legal O d Ethical and legalarrow_forward
- 1. True or False: explain why your answer is true or false a. We can expect the average cost curve of a software product downloadable in the internet to have no minimum point. b. Decreasing returns to scale implies that production exhibits economies of scale. c. Fixed costs tend to infinity when output is zero d. While the distance between the total and variable cost curves does not change, the distance between the average total cost and the average variable cost curves decreases with increasing output. e. In general, production can display diminishing returns in all variables but still display increasing returns to scale. Explain your answer.arrow_forwardQUESTIONS are based on Carl's Jr case study article 1. Discuss what are potential sources of competitive advantage for a company? Give examples 2. Argue is a competitive advantage sustainable? Give examples 3. Conduct an analysis of the strengths, weaknesses, opportunities, and threats (a SWOT analysis) of Carl’s Jr. 4. What changes should Carl’s Jr. make in order to develop a sustainable competitive advantage? (Hint: to help answer this question, think of how you might further segment the YHG group that Carl’s Jr. is trying to sell to, and develop a strategy around these subgroups.)arrow_forward17. Refer to Figure 1. Curve 2 is Outdoor Equipment's Select one: a. Average total cost curve. b. Marginal cost curve. c. Average fixed cost curve. d. Average variable cost curve.arrow_forward
- Table 11.4 Number of Workers Total Product Product Price ($) 0 0 4 1 15 4 2 29 4 3 42 4 4 54 4 5 65 4 6 75 4 7 84 4 8 92 4 9 99 4 10 105 4 Refer to Table 11.4 for the data for a perfectly competitive firm. The first column shows the number of workers employed in production, the second column shows the total product of the firm, and the third column shows its product price. From the data in the table, it can be said that the marginal revenue product begins to decline with the second worker hired. Group of answer choices False Truearrow_forward1 Question 6: What matters for the success of the Ford's Model T? What did Ford do to take the position of market leader and to maintain their advantage? Explain how does Ford manage and successfully their techonological innovation with tremendous effects on the nature of competition. Explain developments in frugal innovation and provide your evaluation of how it is used in an organisational context of Ford's Model T.arrow_forward12 true or false The point at which the marginal product of a variable input is at a maximum corresponds to the point at which marginal cost is at a maximumarrow_forward
- Return to the problem explained in Table 7.13 and Table 7.14. If the cost of labor remains at 40, but the cost of a machine decreases to 50, What would be the total cost of each method of production? Which method should the firm use, and why?arrow_forward14 Refer to Figure 1. The vertical distance AB is Outdoor Equipment's Select one: a. Total cost. b. Average fixed cost. c. Fixed cost. d. Marginal cost.arrow_forwardQuestion 4 a. The following presents the costs and revenues for a firm. Calculate the marginal cost, marginal revenue and profit for each unit of production. How many units should the firm produce to maximise profit? b. Describe the relationship between the marginal product and the total product of a firm?arrow_forward
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