Terrell is a barber who can perform a shave and a haircut to a customer at a constant marginal cost of $+. If Terrell charges each customer $10 and serves seven customers, how much producer surplus has he earned?
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- Q. Analyze relation between law of demand and law of deminishing marginal cost?The price of the commodity is P4/unit. Complete the table below Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17The graph shows the supply curve of fitness trackers and the market price of a fitness tracker. Draw a point that shows the marginal cost of the 30th fitness tracker. What is the marginal cost of the 30th fitness tracker? The marginal cost of the 30th fitness tracker is OA. the producer surplus received by the seller from the 30th fitness tracker O B. the minimum price at which the seller has an incentive to sell the 30th fitness tracker OC. the value that the buyer places on the 30th fitness tracker OD. the price that the seller receives when the 30th fitness tracker is sold 120- 100- 80- 60- 40- 20- Price (dollars per fitness tracker) 0+ 0 20 40 Market price 60 80 100 Quantity (fitness trackers per day) >>> Draw only the objects specified in the question. 120 o o 2
- If the demand curve faced by a firm is downward sloping, we can reasonably believe that the firm can influence the price of the product it sells. firm must lower prices if it hopes to increase its profits. firm has no control over the price of the product it sells but can vary the output. firm will have no effect on the price of the product it sells. O firm's contributions to total output of the product is insignificant.The price of the commodity is P4/unit. Complete the table below Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17 1. Graph the demand and supply2. Graph the TR, TC, and profit3. Graph the ATC and MC4. Graph the ATC, MC, MR, AVC & MC5. Provide a brief explanation on the graph no. 4What is the cost of operations in the factors of production determines the price such organizations quote on the market?
- The quantity demanded each month of russo Espresso Makers is 250 when the unit price is $140; the quantity demanded each month is 1000 when th e unit price is $110. the suppliers will market 750 expresso makers if the unit price is $60 or higher. At a unit price of $80 they are willing to market 2250 units Both the demand and supply equations are known to be liniear. A: Find the demand equation. B: Find the supply equation. C: Find the equilibrium quantity and the equilibrium price.It has been mentioned that there should be a match of supply and demand in a company that produces spare parts.Department A can produce parts at a rate of 80/day.Department B uses those parts at the rate of 10/day.Each day unused parts are added to inventory.At what rate does inventory of unused parts buid up?Bill runs a business that makes custom-printed towels. It will cost him $8 each to purchase and print on towels, and he will have to pay a rent of $1,700 per month for him workshop. Based on market research, Bill estimates that he can sell custom towels for $25 each. a) Calculate the number of towels he needs to sell per month to break-even. towels b) Calculate the break-even in dollars (round off to the nearest cent).
- The price of the commodity is P4/unit. Complete the table below. Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17 4. Graph the ATC, MC, MR, AVC & MC5. Provide a brief explanation on the graph no. 4A subsidy is defined as a payment that must be made to the government whenever a good or service is sold. the number of trades that are eliminated from a market when a tax is imposed. O the difference between total revenue and total cost for a business firm. a payment to either the buyer or seller of a good or service, usually on a per-unit basis, when a good or service is purchased.What is the total profit of cleaning five driveways if the price mr plow can charge is $10 per driveway?