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- Suppose you are chatting to a friend in Brazil on the Internet. Your friend tells weather is forecast to be really cold in the next few weeks and the frost that's expected will damage the coffee crop. Your friend says, "If there are going to be fewer coffee beans available, rll bet that coffee bean prices will rise. We should buy enomous quantities of coffee beans now and put them in storage. Later we will sell them and make a huge profit." you that the 4. Can you "beat the market" with public information? That is, can you use publicly available information to help you buy something cheap and quickly sell it at a higher price? Why or why not? In order to reduce smoking, the government places an additional tax of €2 on a pack of twenty cigarettes. After one month, while the price to the consumer has increased a great deal, the quantity demanded of cigarettes has been reduced only slightly. 5. Is the demand for cigarettes over the period of one month price elastic or price inelastic?…May and Raj me the only two growers who provide organically grown corn to a local grocery store. They know that if they cooperated and produced less corn, they could raise the price of the com. If they work independently, they will each earn 100. If they decide to work together and both lower their output, they call each earn 150. If one person lowers output and the other does not, the person who lowers output will earn $1 and the other person will capture the entire market and will earn 200. Table 10.6 represents the choices available to Mary and Raj. What is the best choice for Raj if he is sole that Mary will cooperate? If Mary thinks Raj will cheat, what should Mary do and why? What is the prisoners dilemma result? What is the preferred choice if they could ensure cooperation? A = Work independently; B = Cooperate and Lower Output. (Each results entry lists Rajs earnings first, and Marys earnings second.)KIND can be considered a "social enterprise." Again, what does the term mean? Whatever the term means, what do we learn about the strategy of such an enterprise?
- What is productive efficiency? Allocative efficiency?Imagine that you own your business. It does not need to be the same as in other questions, youare allowed to pick a different firm or product.a.Think about your production process. Please explain the technology that youuse in the production process.b.How do you think the technology that you use, affects the market structureand/or the demand of your product? Note that this question is NOT about howtechnology affects your production process, therefore, NOT about productivity, NOTabout the cost structure.< The accompanying table shows the total daily output for a firm producing specialty cakes and operating with a fixed amount of capital. The cost of labour is $100 per unit per day and the fixed cost of the capital is $2000 per day. Click the icon to view the table. a. Using the information provided, compute all of the short-run costs for this firm and complete the table. Remember to record the marginal costs between the rows indicating total cost. Complete the third, fourth, and fifth columns of the table. Units of Labour Total Output (per day) (per day) 100 20 40 60 80 100 120 140 40 60 300 80 800 1370 1570 1630 1670 300 800 TFC $2000 1370 $ 2000 $ 2000 TVC $2000 Complete the last four columns of the table. Units of Labour (per day) Total Output (per day) 20 100 $ 4000 $ 6000 $ 2000 $ 8000 $2000 $10000 TFC TC $ 4000 $6000 TVC $ 8000 2000 $12000 $14000 $10000 $2000 $14000 $16000 $12000 TC MC MC $10 4 $3.50 $10 4 AFC AFC $20 $2.5 AVC $6.67 $ 13.33 $ 1.46 AVC $20 $7.5 $5.84 ATC ATC $40…
- Alexi and Tony own a food truck that serves only twoitems, street tacos and Cuban sandwiches. As shownin the table, Alexi can make 80 street tacos per hourbut only 20 Cuban sandwiches. Tony is a bit faster andcan make 100 street tacos or 30 Cuban sandwiches inan hour. Alexi and Tony can sell all the street tacos andCuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer. b. Who has a comparative advantage in the production ofCuban sandwiches? Explain your answer. Assume that Alexi works 20 hours per week in thebusiness. Assuming Alexi is in business on his own, graphthe possible combinations of street tacos and Cubansandwiches that he could produce in a week. Do the samefor Tony.d. If Alexi devoted half of his time (10 out of 20 hours) tomaking street tacos and half of…homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA Diana Arenas - REFERENCIAS CORRESPONDENCIA REVISAR VISTA X Cortar A Buscar - - |11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCc AABI AaBbCcD ab Copiar Sac Reemplazar A- aby , A 1 Normal 1 Sin espa.. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 11. Price discrimination only occurs under monopoly. True or false 12. It is true that the distribution process carried out by the price system A. All of the responses are true B. accomplishes the task more efficiently than central planners would. C. favor the rich D. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences 13. It is in society's best interest that the MC of the last unit product of a good is equal to its MU. True or false 14. For a monopoly, MC=MRAn anicle on forbes.com discussed a business decision by Mant OHayer, owner of Vital Farms. OHayer was one of the first poultry farmers to begin selling pasture-raised eggr. He commited to raising his chickens with each having 108 teet of oundoor space. According to the article, "It was one of many decisions he made knowing it would likely limit his company's growth." Source: Chloe Sorvino, "How Whole Foods Favorite Vital Farms Made Pasture-Raised Eggs Mainstream," torbes.com, May 31, 2018. a. in what sense did OHayer's decision to take on these additional costs of raising chickens imit his company's growth? OA Chickens raised in larger cages move around more and will therefore eat less chicken teed that those raised in smaler cages OB. Chickens rased in larger cages are less kely to be injured or kled by being pecked by other chickens OC Raising chickens in larger cages reduces the rumber of chickens he can raise on a given amount of land D. Al of the abovePlease help me solve this problem? Thank you!K Joey "Jaws" Chesnut really likes eating Krystal burgers. The following table shows Joey's total cost (TC), marginal cost (MC), total benefits (TB), and marginal benefits (MB) for consuming Krystal burgers. Marginal Cost ructor Quantity of Krystal Burgers 0 1 456A W N 3 7 Total Cost $0.00 $1.00 $2.00 $.0 $4.00 $5.00 $6.00 N/A $1.00 $ $1.00 $1.00 $1.00 $1.00 $1.00 a.) Fill in the missing numbers table above. b.) How many Krystal burgers should Joey "Jaws" Chesnut optimally eat? Total Benefit $0.00 $4.41 $6.45 $8.03 $9.14 $10.05 Krystal burgers Clear all Marginal Benefit N/A $2.32 $2.09 $ $1.58 $1.11 $0.91 $0.36 Check answer 9. | ТСНIIP UI UDC | LTIvaty ruilty. I I CHTIIDDIUTƏ | LUTILOLL US TEconomic efficiency means using the method that produces given level of output at a. Low cost Ob. More production O c. Better technology O d. All of these given optionsSEE MORE QUESTIONS