Price and cost (cents kilowatt hour) MSC 20 15 S= MC 10 5. 150 200 Quantity (billions of kilowatt hours per day) 50 100 250 The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal cost borne by producers when 200 billion kilowatt hours are produced is O Og per kilowatt. O 10¢ per kilowatt. O 20¢ per kilowatt. 15¢ per kilowatt. O 5¢ per kilowatt.
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- 20-3. Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service;s rescue teams to locate those lost or in trouble in the wilderness. How will this affect the costs that the Forest Service incurs?Q 0 A: 1 2 3 4 5 6 7 8 9 10 TB 0 1350 2 550 A 4500 5 250 5 850 6 300 6 600 6750 6 750 B: TC 0 150 450 900 1500 2250 3 150 4 200 B 6750 8 250 rate. Calculate then enter the correct answer for the missing numbers: The marginal cost in the above table is C: rate. The marginal benefit in the above table is NB 0 1 200 2 100 2 700 3 000 3 000 C 2 100 1 200 0 -1500 MB D: 1 350 D 1 050 900 750 600 450 300 150 0 E: MC - 150 300 450 600 750 900 E 1 200 1350 1 500 at a(n) at a(n) MNB F: 1 200 900 600 F 0 - 300 -600 - 900 -1 200 -1 5001. The transportation cost is $100 per ton per mile. A factory is producing 10 tons of output per year and pays $5000 for rent for its half-acre plant at 3 miles away from the CBD, where the train station is. i. What is the rent per acre for land at 2 miles away from CD? 6000 12000 O 8000 4000
- The graph below shows the market for mandarin oranges in Odin for the month of November (in thousands of kilos). 1 6 5 X 4 3 2 450 750 10501200¹ 1350 300 600 900 Quantity per month Price 8 7 DS 0 150 Tools D₂ S2. $ per ton 10 8 6.50 0 140 zero, P= $6.00 $53,000, P= $6.50 $840, P=$6.00 284 MC₁ Calculate profit at the minimum efficiency scale, Which price corresponds to this? $426,000, P=$8.00 AC Thousand metric tons of lime per yearDuring the night, the electricity sector has a marginal cost of $1/MWh (megawatt-hour) forthe first 100 MWh produced (from wind turbines), and $20/MWh for each additional unit (from gasgenerators). During the day, they have a marginal cost of $1/MWh (megawatt-hour) for the first 50MWh produced (from solar panels), and $20/MWh for each additional unit (from gas generators).Nighttime and daytime demand are given by QnightD = 50 −P and QdayD = 200 −P , respectively.What are the market quantity and price during the day, and the market quantity and price at night?This is a model of the wholesale market for electricity, which you can think of as being competitive,but there is no resale between night and day.
- Atlantis produces only coral beads and exotic shells. The table shows the marginal benefit and marginal cost schedules for exotic shells. If Atlantis produces 43 exotic shells, the marginal benefit from exotic shells To achieve allocative efficiency, Atlantis must O A. is less than; increase OB. exceeds; increase O C. is less than; decrease O D. exceeds; decrease the marginal cost of exotic shells. the quantity of exotic shells produced. 1 Exotic shells (per month) 39 40 1 42 43 4 41 44 Marginal benefit (beads per shell) 11 9 7 5 Marginal cost 4 1 1 2 3 5 17 29For each of the following examples, explain whether it is a case of external or internal economies of scale: a. Almost all Hermès products are manufactured in France. b. Apple has its displays mainly made in Japan and some made in Korea. c. All units of Toyota Land Cruiser and Prius sold in the U.S. market are assem- bled in Japan. d. Gerber used to be an American-owned company, now a subsidiary of the Nestlé Group, headquartered in Fremont, Michigan. It is often argued that the existence of increasing returns is a source of conflict between countries, since each country is better off if it can increase its production in those industries characterized by economies of scale. Evaluate this view in terms of the external economy model.The owner of Barb’s Burgers has suggested the firm should invest in more moderntechnology and created a list of potential changes she thinks may be helpful as aninvestment. She has asked you to analyze the four potential choices and comment onwhat this would change in terms of cost:1. Build kiosks in the dining area for people to place their orders without having tointeract with a cashier. The kiosks would need also need to be integrated into thepoint of sales system to track orders for the kitchen Question: Argue how each of these is likely to change the cost of the firm once implemented (i.e. are any of these a fixed cost or a variable cost). How this adjust theamount of labour and/or capital currently necessary for the firm? Would the technology be a general technology, labour-saving, or capital-saving?
- 2500 2000 1500 Returns te scale: 0.33 1000 Price 2 10 15 20 25 30 Size dength in feet) 35 40 Rental price 100 The interactive above is from the loarning object, it will automatically find the profit maximizing length of the truck Adam should rent at given prices, rental rates, productivities, and returns to scale. It only the productivity of the truck Adam chooses to rent decreases, which of the following would be true at the new profit maximizing level of output and length of truck? Select the two that apply O A decrease in marginal cost O A decrease in total costs O A decrease in total revenuo O An incroase in the amount of labor Adam hires RevenueThe total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity adriveways cleared) Abbreviation Formula: Total Revenue TR Total Cost TC $0 $25 20 30 40 50 60 70 80 34 41 46 49 51 54 60 70 95 145 10 100 What is the total profit of cleaning five driveways if the price Mr. Plow can charge is $10 per driveway? s 01/21 VIEW sOLUTION O OF 21QUESTIONS COMPLETED 28 MacBook Pro 59Josh and Alex work as design engineers creating high-end lighting fixtures. After one particularly enlightened afternoon, they decide to follow their dreams and open a cupcake bakery. Please sort their various costs, listed below, into the correct category. Implicit Costs Not a Cost Explicit Costs ! Q A N Ⓒ2 Advertising space taken out on a social networking website The money they pay their neighbor's six year old son to deliver cupcakes to their customers. W S 12 #3 16 80 F3 E D X C $ 4 888 F4 R his previous job designing The salary Alex earned in lighting fixtures. LL 25 % U The garage space used for baking that can no longer be rented out to a college student FS T Da A 6 V B Y Supplies like sugar, butter and baking trays G H Ⓒ Previous Check Answer Next Exit 87 & 44 N 17 U J * 8 ∞ 3 14 9 K → 19 O 1 AA F10 P