Question 21 Markup Qc What is the level of profit for the monopolistically competitive firm in the above diagram? positive zero negative impossible to determine MC ATC
Q: Manchester United TV Subscription (annual) Value to a non-Manchester United soccer fan Value to…
A: Profit portrays the financial advantage acknowledged when revenue produced from a business action…
Q: 3) Diminishing marginal rate of substitution can be seen when indifference curves A) become flatter…
A: The curve that depicts combinations of goods that could provide the consumer with an equal level of…
Q: A firm marginal-cost curve is increasing when: A. Marginal Product is deceasing B. Average fixed…
A: Marginal cost is the change in total cost or total variable cost per unit change in output.
Q: Given information: Fixed factory overhead costs: $60,000 Fixed selling overhead costs: $12,000…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: A manufacturer's total cost equation per day is given by the equation TC = 440 + 4q+,0001Q². If each…
A: Given Manufacturer's cost function TC=440+4q+0.0001q2 .... (1) Demand function:…
Q: Assume that the market for soybeans is perfectly competitive. Currently, firms growing soybeans are…
A: There are a huge number of buyers and sellers in a perfectly competitive market. The market forces…
Q: All documented information shall be Legible O Dated O Maintained in good order Retained O All the…
A: The documented information refers to all of the important information that must be kept organized…
Q: surplus imply the economic growth is strong? Please between level of GDP and Net capital outflow.
A: A trade deficit happens when a nation imports more than it sends out. Otherwise called a negative…
Q: You are given the following information about an economy. C=20+0.8(Y-T) 1=100 G=520 T=0.25Y and…
A: Equilibrium GDP is denoted to be as that level of the output whose certain level of the production…
Q: If median weekly earnings of $865 were to increase by 9%. at a time when the inflation rate were to…
A: given that, median weekly earnings of $865 increase by 9% the inflation rate was to drop by 4%
Q: 12/12 points During the pandemic of 2020, disinfecting wipes were very popular because people…
A: Here, it is given that in 2021, scientists asserted that the COVID-19 infection is not caused by the…
Q: 2. Let the production function be as follow: q(L,K) = 10.7 K0.3 Also assume w=2 and r=4 a. Find out…
A: Production function is the function or the relation between the technology and quantities of…
Q: Discuss methods to overcome unemployment in India
A: Unemployment occurs when a person is ready and willing to work at the prevailing wage rate but is…
Q: ges are high in poor countries because businesses are run D a. True b. False efficiently.
A: Wages are the remuneration that are recieved by the labors.
Q: Price (dollars per unit) 120 100 80 60 40 80 20 0 20 40 60 Quantity efer to the figure above. Which…
A: The law of demamd expresses that at greater costs, purchasers will demand less of a economic…
Q: Which of the following statements is true? OA. When a large proportion of income is spent on a…
A:
Q: 3) Using benefit-cost ratio analysis, a 10-year useful life and a MARR of 25%, determine which of…
A: The benefit-cost ratio (BCR) is an indicator showing the relationship between the relative costs and…
Q: was one of the first countries to experience long-term economic growth during the nineteenth…
A:
Q: key difference between S corporations and C corporations is that: al the owners of C corporations…
A: Introduction Corporation refers to the entity that has the authority to act individually different…
Q: What are the expected effects of austerity measures over the longer
A: Austerity measures Austerity measures are economic strategies used by governments to cut spending in…
Q: EXPECTED INTEREST RATE the real risk free race a 33%. Infation is expected to be 3.03% this year…
A: The nominal yield is the coupon rate on a bond. Essentially, it is the interest rate that the bond…
Q: 1) Mr. Bora's disposable income is 10 000 TL. per month. His zero level autonomous consumption is…
A: MPC is the marginal propensity to consume and MPS is the marginal proprnsity to save. We use the…
Q: A firm practices third-degree price discrimination. With the aid of a graphical illustration,…
A: Price Discrimination Price discrimination is a marketing approach in which a marketer charges…
Q: Which of the following statements is a positive statement? cigarettes ought to be taxed due to…
A: Positive statement is based on facts and figures which can be tested and verified with given…
Q: What do a firm's opportunity costs of production amount to? Question 13 options: explicit…
A: Opportunity Cost is the value of next best alternative sacrificed.
Q: Using the NPV as key indicator for the success of a major organisational change project in a company…
A: The total of the Present Values of all future Cash Inflows minus the sum of the Present Values of…
Q: Which of the following statements is true? OA. When a large proportion of income is spent on a…
A: Elasticity of supply depicts how much consumer responds with the change in the price level.
Q: Differentiate, whenever possible, the items bought Purchase products at the highest cost Accomplish…
A: For a businessman organisation, minimising costs is the main challenge that it has to overcome.
Q: Which of the folowing statements is TRUE? OA. Statistical discrimination cannot persis in the long…
A: Profit maximization refers to the condition of private firms trying to increase their revenues from…
Q: Consider a particular market-clearing price and quantity under a perfectly competitive equilibrium.…
A: Consumer surplus is the economic proportion of a customer's overabundance benefit. It is determined…
Q: If a society allocates resources so that it produces eficiently, then it is producing at a point A…
A: The answer is - A. On its production possibility frontier that is most desirable.
Q: Kim spends all her weekly income of R200 on two goods, X and Y. The prices of the two goods are R5…
A: A budget constraint refers to all the different combinations of goods and services that a consumer…
Q: Which of the following best describes what happens when you move along the supply curve? Quantity…
A: The law of supply explains the movement along the supply curve. When prices rises, producers are…
Q: 1. The following prices and quantities produced were recorded in computer land during the years…
A: GDP Deflator = (Nominal GDP/Real GDP)*100 Nominal GDP is the value of the current basket of goods at…
Q: For each of the following given information, indicate which form of the efficient market hypothesis…
A: Efficient market hypothesis is a financial theory which says the securities prices reflect all the…
Q: Which of the following statements is true? OA. When a large proportion of income is spent on a…
A: If the change in quantity demanded outweighs the change in price, the demand for the good is said to…
Q: Its variable cost per unit grew with the quantity generated in a break-even study. Every node in a…
A: The break-even point of a business can be stated in terms of dollars of income , or items produced…
Q: Consider the following table of long-run total costs for three different firms: Quantity 1 2 3 4 6 7…
A: Question is related to the topic Economies of scale
Q: urrent income tax rate. non-IRA account has to pay income taxes on the funds deposited and on inte s…
A: *Answer: Given, Bonus amount, P=$10,000 Interest rate, r=10% Tax bracket, t=30% Number of years,…
Q: llen mean by "reserves were no longer relatively scarce"? ancial crisis, banks chose to hold…
A: The Federal Reserve System is the national bank of the United States. It was established by Congress…
Q: Economic of scale can serve as a barrier to entry that covers an existing firm from potential…
A: Economies of scale are the cost benefits. These benefits are that businesses gain as a result of…
Q: Firm A High Price Low Price A = $250 A $325 B = $250 B = $200 A = $200 A $175 B = $325 B = $175…
A: Game theory is concerned with the choice of an optimal strategy in conflict situations.
Q: explain how "Combine losses" and "Split up gains" are related to prospect theory.
A: Prospect theory is a concept in economics that explains how people make decisions when faced with…
Q: Your firm is offered an investment, as follows: If you pay $1 million today, then you will receive…
A: We use Net Present Value (NPV) to answer this question. NPV is the sum of initial investment and the…
Q: Why will profits for firms in a perfectly competitive industry tend to vanish in the long run?
A: Perfect competition is a type of market structure in which there are large number of buyers and…
Q: The O&M cost of an equipment is given in the table below. Determine the EUAC of this equipmen in…
A: Equivalent Uniform Annual Cost. is the tool by which a firm can expresses the life period of costs…
Q: The market demand for Good X is given by QD=250-10√P+21², where P is the price and I is the per…
A: Income elasticity refers to the responsiveness in the demand for goods due to corresponding change…
Q: Jake is a full-time worker. Today, he is fired from his job, and he suddenly decides to retire. Due…
A: Here, jr is given that that an lost his job and become unemployed, but at the same time, he decides…
Q: 3) Diminishing marginal rate of substitution can be seen when indifference curves A) become flatter…
A: Typically, marginal substitution is lessening, meaning a shopper picks the substitute instead of…
Q: The blue curve on the following graph represents the demand curve facing a firm that can set its own…
A: A manufacturer's extra money by selling one more unit of his product is referred to as "marginal…
Step by step
Solved in 3 steps with 3 images
- Aside from advertising, how can monopolistically competitive films increase demand for their products?What is the relationship between product differentiation and monopolistic competition?Costs and Revenues (dollars per room) 200 180 160 140 120 ➜ 100 80 60 40- 0 5 10 Market for Monica's Hotel 15 20 25 30 35 Quantity (rooms) 40 D₂ MC ATC MR 45 50 Multiple Choice Question Use the graph of a monopolistically competitive firm above to answer the following question. What is the amount of profit or less Monica will make at the profit maximizing price and quantity? O Profit of $2000 O Profit of $0 O Loss of $2000
- The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 8 60 40 20 0 mớ H + 0 9 18 27 36 45 54 63 72 81 QUANTITY (Bippitybops per day) * Demand 90 B 99 108 Total Revenue (?)(b) You are the CEO for a lightweight compasses manufacturer. The demand function for the lightweight compasses is given by p = 40 – 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (i) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, but you would like to reduce production. What smaller number of lightweight compasses could the company produce to yield the same profit? Problem зReview Question 12-01 O A monopolistically competitive firm gets a massive amount of free advertising when a government agency gives it an award and millions of people mention the award to each other on social media. Which of the following is most likely to happen? Mc Graw Multiple Choice O Demand becomes more elastic and pricing power increases. Demand becomes less elastic and pricing power decreases. Demand becomes less elastic and pricing power increases. Demand becomes more elastic and pricing power decreases. < Prev 10 of 10 MacRook Di Next
- ollingOnelED.. App Inventor Tic Ta... Calendly-Kathryn.. eaaesID JO Ə V Diane owns a store that sells computers. Her profit, in dollars, is represented by the function P(x) = x - 22x2 - 240x, where x is the number of computers sold. Part A: Diane hopes to make a profit of at least $10,000 by the time she sells 36 computers. Explain whether or not Diane will meet her goal. Justify your reasoning. Part B: Diane states that there are three possible values of x for which she will have a profit of$0. Find the values of x that produce a zero profit to show whether Diane is correct or not. Justify your reasoning.un x SCC PortalGuard -SCC Portal Lo X Assignments: Microec onomics Chapter 12 HW ect.mheducation.com/flow/connect.html Saved In the News: What's Behind Starbucks' Price Hike? The Coffee Company Will Raise Drink Prices in October, Even as Other Chains Crowd the Market with Similar (and Cheaper) Products Starting on Cctober 3, the prices on lattes, cappuccinos, drip coffee, and other drinks will go up 5 cents at company-operated stores in North America. Starbucks is also jacking up the price of its coffee beans by roughly 50 cents per pound, or an average of 3.9 percent. The timing is certainly odd. For a while now, Starbucks has been struggling with labor disputes. Rivals McDonald's, Dunkin' Donuts, and Canadian restaurant chain Tim Horton's are steaming into its turf.... A Confident Company If Starbucks were really worried about any of these issues, the last thing its senior execs would consider is a price hike. In fact, Starbucks' dominant market position gives it unique pricing…What is the difforence between acounting proft and economic prof? OA Economic profit subtracts both expict and implicit oosts trom total revenue, while accourting proft only sutiracts explicit oosts. OR Accourting profe only nuttracta imglicit coeta from total revenue, whie ecoromic proft only suberacte explicit coste OG Economic proft oriy subtracts implict costs from total revenue, while accounting profit only subtracts enplicit costs OD. Accourting proft suberacts boh explict and impict costs from total ravanue, while economic proft only sutracts explicit oosts.
- 2. Refer to the following graph to answer Question #1 40 35 30 25 20 16 15 12 10 5 I 10 20 MC ATC P₁ AVC P₂ P3 30 45 50 60 70 80 90 100 110 a) What is profit if the price is P1? b) What is profit if the price is P2? c) What is the profit maximizing level of output if the price falls to P3?4. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 120 110 100 Total Revenue 90 B0 70 50 40 30 20 10 Demand 10 20 30 40 50 70 90 100 110 120 QUANTITY (Bippitybops) PRICE (Dollars per bippitybop)The following discussion describes a new inventorysystem used by J. C. Penney39:In an industry where the goal is rapid turnaroundof merchandise, J.C. Penney stores now holdalmost no extra inventory of house-brand shirts.Less than a decade ago, Penney would have storedthousands of them in warehouses across the U.S.,tying up capital and slowly going out of style.The entire program is designed and operated byTAL Apparel Ltd., a closely held Hong Kong shirtmaker. TAL collects point-of-sale data for Penney’sshirts directly from its stores in North America foranalysis through a computer model it designed.The Hong Kong company then decides how manyshirts to make, and in what styles, colors, andsizes. The manufacturer sends the shirts directlyto each Penney store, bypassing the retailer’swarehouses and corporate decision makers. a. Discuss how this case illustrates the concept ofthe opportunity cost of capital.b. How does this innovation also help in demandmanagement?