Time left 0:39:- You are the operations manager for a production company. You are given the technical rate of substitution between factors î₂ and ₁ as -4. If you will like to produce the same output but you want to decrease the use of ₁ by 2 units since it cost more than ₂ to acquire, how many additional units of 2 will be required? Select one: O a. 1 O b. 2 О с. 16 O d. 8
Q: The government has to observe a balanced budget, i.e. expenditures for public pub schooling equal…
A: Budget line:It is a graphical representation of the combination of two sets. That is earning od…
Q: Consider the following information about a closed economy: GDP is $1,200 million, taxes are $125…
A: Estimates of national income provide informed perspectives on a country's economic health,…
Q: A pallette conveyor system used to transport pallettes of product at the Browning Harvey plant in…
A: Economic life, in the context of finance and business, refers to the estimated period during which…
Q: 7.11 Determine the rate of return for the following cash flow series. N i=? 300 300 300 300 7 12,000…
A: Investment refers to the allocation of resources, typically money, with the expectation of…
Q: PROBLEM (1) Firms 1 and 2 have total cost functions TC₁(q) = q² and TC₂ (q) = 2/3 (with MC₁(q) = 2q…
A: The cost function defines the relationship between two variables i.e. the inputs and their prices.…
Q: A UK-manufactured car sells for GBP 14.000. A french-manufactured car sells for EUR 15.750. If the…
A: The movement of currency from one country to another country through exchange is called the exchange…
Q: For problems 1 – 5, use a discount rate of 10%. 1. What would be the value of an asset that returns…
A: Cash flow in economics is the financial vitality of a business, representing the continuous movement…
Q: In period t, a parental household (indexed by i) equipped with human capital h earns a labour income…
A: Utility FunctionBudget ConstraintHousehold Income - Cost of educating children =
Q: a. Monetary Policy involves changing (Click to select) (Click to select) b. (Click to select)…
A: Monetary policy is the policy of the central bank through which the money supply and the interest…
Q: The market for fidgets has only three firms, (A, B, and C), that compete in quantities. The market…
A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…
Q: What is M1 in Ironmania? $ million b. What is M2 in Ironmania? $ million
A: The two halves of the money supply, M1 and M2, represent the various forms of money that are used in…
Q: Yongling is a monopoly seller of a good in a town. She has a fixed supply of 8 units and no other…
A: A monopoly is characterized by one manufacturer or seller who forbids others from offering the same…
Q: Question 25 Burritos 160. 9 009654 8 7 3 2 - 1 3 0 0 0 о 1 O $25 2 3 4 5 6 7 The graph shown…
A: The budget constraint is the mathematical relationship between the income of a consumer and bundles…
Q: True/False (Explain): Higher the interest rate, higher the Present Value of future cash flows.
A: Cash flow:Thе nеt amount of cash or cash еquivalеnts that еntеrs and еxits a businеss or financial…
Q: $16T $14T $12T SIOT S8T 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 a) Calculate the rate…
A: Inflation is the general increase in price level over a period of time.
Q: Year Unemployment Rate Inflation Rate Economic Growth Rate 2009 18.9% 0.4% -1.38% 2010 19%…
A: The economic performance of developing countries, particularly those in the Caribbean, has been…
Q: Calculate the rate of inflation from 2016 to 2018 Explain what happened to interest rates from 2020…
A: a) Calculate the rate of inflation from 2016 to 2018: To calculate the rate of inflation, you…
Q: 3. Assume that scientific studies provide you with the following information concerning the benefits…
A: Externalities occur when there is an indirect impact on a party that is not directly related to the…
Q: Draw the Cash Flow Diagram Associated with Each option
A: The objective of the question is to draw the cash flow diagrams for two options that Rivertown…
Q: Find the consumers' surplus and the producers' surplus at the equilibrium price level for the given…
A: The demand and supply curves are representative of the quantity demanded and quantity supplied…
Q: QUESTION 1 Given a demand curve of P = 1200 - 40Qd and supply of P = 200 + 10Qs and a binding price…
A: Demand equation: Supply equation: Binding price control is at $363.This price control can be a price…
Q: If countries X and Y produce only either baseballs or golf balls, their maximum outputs are shown in…
A: Opportunity cost refers to the cost of what is being given up in order to produce what you want to…
Q: At its profit-maximizing output, the nondiscriminating pure monopolist whose information is in the…
A: This can be defined as a concept that shows the cost incurred in the production process of a…
Q: Figure 3 Refer to the following diagram of the open-economy macroeconomic model to answer the…
A: Import quota is the quantitative restriction which is placed on the imports and the importer cannot…
Q: Show in a graph a market where there is simultaneously a positive and a negative externality. Give…
A: When an expense is borne by a third party, it is referred to as a negative externality. When a…
Q: Aggregate price level P₂ P₁ Po Select one: LRAS a. P₁-Po. b. P₂ - P. C. P₂ - Po. d. Y₁ - Yp Yp Y₁…
A: Aggregate demand is the sum of consumption, investment, government spending and net export. This…
Q: The prisoner's dilemma shown displays the payoffs associated with two firms: Firm A and Firm B.…
A: In a game, one of the players often experiences the advantage of experiencing a higher pay-off rate…
Q: Optimal package size: Optimal package price: $ units
A: Total Revenue is defined as the total amount that the producer earns from the sale of the muffins…
Q: 4. Suppose that any given individual firm in this same perfectly competitive industry has the…
A: The study and analysis of commercial difficulties impacting businesses using abstract economic…
Q: The demand for office chairs in thousands is Q-40-2 P2 At a price of $2, the price elasticity of…
A: Elasticity is a key concept in economics because it describes how a quantity responds to changes in…
Q: In 2003, the median price of a house in a city was $195,000. Assuming a rate of increase of 2% per…
A: Price refers to the value in monetary terms that is assigned to a particular good or service. The…
Q: The government has to observe a balanced budget, i.e. expenditures for public schooling equal tax…
A: The objective of the question is to derive the level of public education, denoted as 'epub', given a…
Q: Consider a hypothetical economy. Households spend $0.50 of each additional dollar they earn and save…
A: In a hypothetical economy, a household spends $0.50 of each additional dollar they earn and saves…
Q: People often run up high credit card debts because they fail to fully appreciate the difference…
A: Credit card debt is the total amount of money that people have borrowed and are required to pay back…
Q: The area representing deadweight loss is the area of government revenue is Domestic Consumption…
A: Deadweight loss is a concept used in economics to describe a cost to society created by market…
Q: A healthcare provider that is a monopoly - faces the following market demand schedule: P 100 90 80…
A: Profits refer to the financial gains realized by a business or an individual from their operations…
Q: The following graph shows a decrease in short-run aggregate supply (AS) in a hypothetical economy…
A: The short-run aggregate supply curve refers to the total output of an economy in a given fiscal…
Q: The graph below shows supply and demand curves before tax $65 $60 $55 $50 $45 $40 $35 $30 $25 $20…
A: Deadweight loss is the amount of loss a society bears when supply and demand forces don't work…
Q: In Hayward, there are 100 people who want to sell their used cars. The problem is that nobody except…
A: The objective of the question is to find the minimum probability for a used car to be a peach such…
Q: Refer to the graph above. Which statement is true? O The market equilibrium is point a and the…
A: The link between the amount of a product provided and its price, while maintaining other variables…
Q: Movers & Shakers Co. is very keen on investing in a Wind Farm in the energy sector in Dominica.…
A: The objective of the first part of the question is to identify and explain three factors of…
Q: a. Game is repeated few times and discount rates are low b. Game is repeated many times and discount…
A: Below is the pay-off matrix for each player.Player 2ConservePlunderPlayer 1Conserve 100, 100-100,…
Q: Use the supply and deman Price $5 8 11 14 17 Quantity Demanded 75 65 55 45 35 Instructions: Enter…
A: Supply and demand is an economic model of price determination in a market. It postulates that,…
Q: Question 3: The following Table shows a Firm's total cost at various levels of output. a) Complete…
A: The total cost is provided Quantity Total Cost0120114521603171420052456312
Q: Instead of reacting to the negative supply shock, policymakers choose not to respond and continue…
A: In economics, long-run equilibrium is the situation where the long-run aggregate supply curve( which…
Q: (Ref 6-4 Table: The Market for Chocolate-Covered Peanuts) Use Table: The Market for…
A: Equilibrium in the market is determined at the point where the demand is equal to supply. If the…
Q: Year Unemployment Rate Inflation Rate Economic Growth Rate 2009 18.9% 0.4% -1.38%…
A: The objective of this question is to critically evaluate the statement that developing countries,…
Q: Suppose the consumer's utility function is given by U(x,y) = X3/5y2/5, and the exogenous variables…
A: Utility function represents the relationship between utility and consumption of goods. The change in…
Q: An economy's GDP is $2000 billion, desired consumption spending $1200 billion, desired investment…
A: National income estimates provide informed viewpoints on a country's economic health, challenges,…
Q: You notice that the prices of coffee at your local supermarket vary from week to week, causing you…
A: This can be defined as a concept that shows how much there is change in the demand for any commodity…
Step by step
Solved in 3 steps with 6 images
- Salisbury Smacthic Coimalies bet ucen O and lo00 Smeathies each manth. Their fixed costs $2000 a monthpand their monthly Varisble Gre cest is Cv Cx) = 0.o00123-0.082²+40x . dellars and where Cy is in number of smacthies sold R the . O what is the cost functicn cCx) accohnting for fixed cad Variable cests? Compute the merçinsl cost functien.Remaining Time: 01:34 23 Suppose a fiem's total variable costs are given by TVC(9) -3 g, and it has a fixed cost of 787 of which 507 is avonidatle, We want to find the firm's Bupply Lets finst find the minimum of the average variable and avoidable costa. This will allow us to find the price below which the firm wil not produce. Remember for decisionmaking only the avoidatble fixed cost matter. This occurs are The price at which the firm just breaks even is P= The firm's supply, then is q for PS 国助nd for P> Please give the supply in terms of upper case P and please use fractions.The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…
- 1. Suppose Firm A has a budget of P1.5 million pesos in outsourcinginputs, labor and machines, that would lend support in its 1 yearoperation. Suppose further that the cost of labor for 1 year is P150,000and for a machine is P200,000. If it decides to hire 6 laborers, howmany machines would it accept?QUI The figure below depicts the production function of grain for farmers under average growing conditions with the currently available Noi technology. Mar 9007 PF 800- 700- 600- 500- 400- 300- 200어 100- o Slope 732,000/ 1,600 = 458 04 400 800 1200 1600 2000 2400 2800 Number of farmers Select one or more: In a year with exceptionally good weather conditions, the production function curve will be higher and parallel to the curve O a. above. O b. A discovery of new high yielding crop seeds would tilt the production function curve higher anti-clockwise, pivoted at the origin. O C. In a year of bad drought the production curve can turn downwards for large numbers of farmers. O d. If there is an upper-limit on the amount of grain that can be produced, then the curve will end up horizontal for large number of farmers. S Type here to search 25 hp t4 15 16 eSC 5 6. 7. 00 %24 3. . ........ Kilogrammes of grain produced (thousands)Awer saved Polts out el 1.00 Nemove tag There can be at least one input for production which can be considered as fixed in the ultimate long run Select one: O True False
- The fixed cost of a firm is 32000, the variable cost is 5 per unit, and the labour Cost is 10x², of then the actual cost of producing the 10th unit is cion Select one: O a. 185 О ь. 195 O c 215 O d. 205 e. 225 geInput Total Product 5 20 32 4. 42 50 55 7 58 8 58 9. 56 1. From the table given above, answer the following questions. a. Find AP and MP b. With the addition of how many units does diminishing marginal returns set in? c. At which unit of input does negative marginal returns set in? O123The currency exchange rates between different countries are very important for firms selling their products in another-country market since They may affect company profitability They may affect company revenues Ob. They may affect company costs They may affect all of the above Od. A hot dog stand operates five days a week. Each day she sells 120 hot dogs for $3 cach, 50 pretzels for $2 each and 4o sodas for $1 cach. The cost for each hot dog is 50¢, for each pretzel 20¢ and for each soda 10¢. How much is her weekly profit? $426 $500 $1500 $2130 d.
- In economics, how long is the long run? O 5 years or more More than 12 months O 24 months or longer Whatever time it takes a firm to vary all inruts.The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?According to Little's Law, which statement is correct for a stable process: O a. For a given throughput, the average inventory is independent of the average flow time O b. For a given throughput, increasing the average inventory results in an increase in the average flow time. O c. For a given throughput, decreasing the average inventory results in an increase in the average flow time. O d. For a given throughput, increasing the average inventory results in a reduction in the average flow time.