Price of Bo MC₁ MC₂ Quantity of Books Now suppose the patent expires and other firms are free to use the technology. Which of the following statements are true about what happens in the long run? Check all that apply. All firms' average-total-cost curves decline to ATC₂. All firms make positive profits. The market price falls to P2.
Q: Please answer the following question: 1. Economic advisors who fear that economy is growing too…
A: Introduction - Things will become more expensive if the economy expands more swiftly than it can…
Q: Of all the Americans who live in poverty, most are families. A. black; white B. Hispanic; white O c.…
A: Blacks and Hispanic have the highest poverty rate at 19.5% and Non- Hispanic whites have the lowest…
Q: Hegemonic stability theory O is a realist theory. O has become of less interest to most IR scholars.…
A: Hegemonic stability theory is a theory focused on international relations. It indicates that the…
Q: The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary…
A: Ans Solution
Q: A country should specialize in the production of the good in which it has the lowest opportunity…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Find the nominal rate compounded monthly which is equivalent 14% compounded quarterly.
A: The compounded quarterly rate can be first converted to a yearly rate and then can be divided…
Q: The federal government decides to require that automobile manufacturers install new anti-pollution…
A: Elasticity of demand measures the responsiveness of quantity demanded to changes in price
Q: Examine how surpluses and deficits in the balance of payments (BOP) affect exchange rates.
A: Introduction - All central bank transactions are recorded in the account on the balance of payments…
Q: .35 Price .50 .30 .15 Electricity Generation MR 2,000 2,700 3,000 AC Demand MC Quantity (GWh)
A: A monopoly market is the market with single seller due to which government sometimes regulate this…
Q: Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for…
A: Fixed cost does not depend on quantity produced. It remains fixed. Variable cost increases with…
Q: A bond you are evaluating has a 10 percent coupon rate (compounded semiannually), a $ 1,000 face…
A: Given Bond face value = 1000 $ Time = 10 years Coupon rate = 10 % compounded semi annually Semi…
Q: Consider that the quantity of Milk A sold will increase by 50%, the sales revenue of Milk A will…
A: In the mentioned question we have been asked to calculate the price of Milk A of april when there is…
Q: Parks confer many external benefits on society: open space, trees that reduce pollution, and so on.…
A: External benefits are the positive spillover effect of an economic activity on third party which is…
Q: Sony announces Smart Tennis Sensor Tennis racket maker Babolat introduced its smart racket Play Pure…
A: Monopolistic competition is where there are numerous sellers selling homogeneous but separated…
Q: A machine that produces a certain piece must be turned off by the operator after each piece is…
A: Given:- Machine produces=50,000 pieces Operator earns=$5 Brake require servicing=After 520 hours…
Q: Assume a infinitely elastic short-run aggregate supply. Consider the following economy: C=C+8/10 X…
A: Y = AD (Aggregate demand) Where; AD = C + I + G + X - M {C: Consumption, I : Investment, G :…
Q: The following situation will be used in questions 3, 4 and 5. A hotel is projected to have $ 55 mi…
A: The Estimated Hotel value:- Year Formula 1 2 3 4 5 6 7 - Growth rate (Revenue) 1.02 1.03…
Q: Which of the following both shift aggregate demand right? O A. net exports rise for some reason…
A: Change in the price level causes movement along the demand curve. Change in factors other than the…
Q: Problem (2) Twelve payments of $10,000 each are to be repaid monthly at the end of each month. The…
A: The correct answer is given in the second step.
Q: What are the principles of Tax-incidence?
A: Taxes are described as mandatory fees collected from citizens by the government. These taxes are the…
Q: Again, please consider the following information, related to Economy Alpha. Economy Alpha contains…
A: Bank reserves are the cash essentials that monetary organizations should have close by to meet…
Q: Cambrian Railways runs a daily container freight train between Cardiff and Birmingham. Its major…
A: Inverse Demand: P = 410-5Q Total Cost: TC = 3Q2 + 10Q – 100 where: P = unit selling price Q =…
Q: he AS curve shifts to the left when O All listed options are correct. O the cost of production rises…
A: Supply curve has a direct relationship with price of the good.
Q: Answer question on first picture using the options provided. Answer the second part of the question…
A: The Phillips curve tells us the relation between inflation and unemployment. It shows that as…
Q: According to the Clayton Act OA. price discrimination is always illegal OB. tying arrangements are…
A: There are various government regulations and acts that are introduced to improve the market…
Q: Answer all four questions! Is a monopolistically competitive firm productively efficient? How can…
A: Note:- Since we can only answer up to three subparts, we'll answer the first one, Please repost the…
Q: What is a nation doing when it decides to choose a possibility A on its PPF producing nine million…
A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…
Q: The price index in year 2 is 110 and the price index in year 3 is 115. The rate of inflation between…
A: A consumer price index is a price index, the price of a weighted average market basket of consumer…
Q: 11 12 0.45 0.30 22 24 25 0.25 0.35 0.30 5 /unit /unit /unit 0.25 profit per unit for the base-case,…
A: DISCLAIMER “Since you have asked multiple questions, we will solve the first 3 subparts for you. If…
Q: much new amount of loan will this bank be able to create
A: If required reserve ratio is 10% Required reserve = deposits × 10% 100,000 * 0.1 =10000 And Total…
Q: Consider the following closed economy, which we shall call Gazzalestan. C=100+6/10 X YD. I=1700…
A: Private savings:- Private saving is the total of what individuals, private businesses, and…
Q: Using the Lorenz Curve, answer the following questions. . . Approximately what percentage of the…
A: A Lorenz curve shows the spread of distribution. It is used to show inequality of distribution. The…
Q: which requires labor hours along with time on two machines. Producing a unit of trash cans requires…
A:
Q: Streaming services like Hulu and Netflix sell ______ access to movies and TV shows. Group of answer…
A: Streaming services like Hulu and Netflix are online platform which provide access to movies and TV…
Q: Why does the marginal product of labour fall as more workers are hired? Motivate your answer.
A: A change in the output caused by using one additional unit of a specific input is known as a…
Q: Due to the impact of Tropical Storm Harry in the Caribbean, the price of sugar rises from $0.50 to…
A: Price rise from $0.50 to $1 Quantity demand falls from 120 to 40
Q: Diagram 1 Price Level (PL) O ADO O AD1 YF O AD2 ADS O AD3 AD4 AD2 If you cannot see the image above,…
A: Aggregate Demand Aggregate demand refers to the entire amount of demand for all completed goods and…
Q: Question 7 Suppose that currently we are in the era of ample reserves. The total amount of reserves…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: K The four-firm concentration ratio for audio equipment makers is 30 and for petrochemicals it is…
A:
Q: What is the importance of public finance?
A: Public Finance is the study of government expenses and income and management of the revenue and…
Q: The CPI in year 1 is 125, in year 2 is 130, and in year 3 is 135. What is the inflation rate in each…
A: The rate at which prices grow over a specific time period is known as inflation. Inflation is…
Q: able: Samsung and Apple’s Payoff Table) Suppose that a market is dominated by two large firms,…
A: We have given a game like a prisoner's dilemma, Here the players are Samsung and Apple which are two…
Q: Complete the third column of the following table by calculating the marginal cost per dozen pizzas…
A: A change in the total cost of producing various quantities of a product is divided by a change in…
Q: Nigeria has a positive trade balance of $10 billion. If it has a negative balance of services of $8…
A: Balance of trade is otherwise called net export, trade balance, or global trade balance.
Q: A concrete and rock crusher for demolition work has been purchased for $50,000, and it has an…
A: Depreciation allowance is the estimation of the annual cost of using an assets that is form on…
Q: 2. What is the largest component of the federal budget? A) Entitlements C) Defense B) Net interest
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: What are the objectives of fiscal policy in developing countries?
A: The phrase "fiscal policy" refers to how the government controls the amount of money in the economy.…
Q: You just made an investment in an insurance policy that is guaranteed to pay you $2.3 million 20…
A: Given, Future return on investment= $2.3 millionNumber of years=20Market interest rate=8%Inflation…
Q: D) TC = 8Q² + 9Q + 16 MC = 16Q + 9 MR 329 a) Profit maximizing quantity ? b) Total cost at profit…
A:
Q: Business travelers riding on Amtrak from Rocklin to Oakland are charged $20 for a daily pass, but on…
A: Different prices charged on different days is also a type of price discrimination and this type of…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Suppose the imaginary company of Roobek is a small, Reno-based American apparel manufacturer specializing in athleisure. The following table presents the brand’s total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 60 — — 1 160 2 220 3 270 4 340 5 450 6 630 On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC…Suppose the imaginary company of Roobek is a small, Reno-based American apparel manufacturer specializing in athleisure. The following table presents the brand’s total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 120 — — 1 210 2 270 3 315 4 380 5 475 6 630Souvlaki Taverna is one of many restaurants in Athens, Greece which sell Souvlaki kebabs. All restaurants make the dish slightly differently. Use the following graph showing the demand (D), marginal revenue (MR), average variable cost (AVC), average total cost (ATC) and marginal cost (MC) curves of Souvlaki Taverna to answer the questions below. (a). The goal of Souvlaki Taverna is to maximize its profit. How many Souvlaki kebabs per day should it make? What price per kebab (in euros) should it charge? If Souvlaki Taverna maximizes its profit, how much is its total revenue? What about its total costs? What is its daily profit? What would the profit-maximizing output level of this business be if it operated in a perfectly competitive market instead? What price per kebab would it charge? Does the economic outcome in part (a) imply allocative efficiency? Why or why not? Does the economic outcome in part (a) imply productive efficiency? Why or why not?
- The two side by side graphs are for two firms that between them supply all the original grown advocados for a local area. With vigorous competition between the firms, the price per pound has settled at a point where both firms are just breaking even. For each firm, the marginal cost (mc) average variable cost (avc) and average total (atc) curves are shown In the blank graph below, use the straight line tool to draw a straight line representing the short run market supply curve for quantities above zero. (that is Dont worry about operating points for which the quantity is zero)Giocattolo is a profit-maximizing firm producing toy cars, which it can produce and sell in its home country, Italy, and abroad in Spain. The average cost (AC) curve on the following graph represents Giocattolo's cost of producing toy cars within one factory, whether in Italy or in Spain. COST (Dollars per toy car) 10 1 0 10 I 1 20 30 40 50 60 70 80 QUANTITY (Thousands of toy cars) AC 90 100 Suppose that at the current market price of toy cars, the demand for Giocattolo's product is 10,000 toy cars per year in Italy and 20,000 toy cars per year in Spain. (Hint: Select each point on the previous graph to see its coordinates.) (?) Based on Giocattolo's average cost curve, within one factory it can produce 20,000 toy cars at S per toy car, and produce the total of 30,000 toy cars at S per toy car. Complete the following table by indicating Giocattolo's total production cost for each scenario. Total Production Cost (Dollars) Scenario Produce 10,000 toy cars in Italy and 20,000 toy cars in…Suppose that Tommy Hilfiger's marginal cost of a jacket is $200 and at one of the firm's shops, total fixed cost is $500 a day. The profit maximizing number of jackets sold in this shop is 30 a day. Then the shops nearby from other retailers start advertising their jackets. The Tommy Hilfiger shop decides to spend $1,000 a day advertising its jackets, and its profit maximizing number of jackets sold jumps to 60 a day. Before advertising: Suppose that the price elasticity of demand is 2. Can you compute the price of a Tommy Hilfiger jacket? And the markup? Please, compute the amount of maximal profits.
- The graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for a firm in a competitive market. These curves imply a short-run supply curve that has two distinct parts. One part, not shown, lies along the vertical axis (quantity-0); this represents a condition of production shutdown. Where is the other part? Use the straight-line tool to drawit. To refer to the graphing tutorial for this question type, please click here Price and cost 18 15 14 13 12 10 19/21 SUBMIT ANSWER 13 OF 21 QUESTIONS C OMPLETED 28 MacBook Pro 금□ F7 F8 F9 F1o F2 F3 F5Suppose the imaginary company of Panthera is a small, Cedar Rapids-based American apparel manufacturer specializing in athleisure. The following table presents the brand’s total cost of production at several different quantities. Fill in the remaining cells of the following table. (Graph is in images)Suppose the book-printing industry is competitive and begins in a long-run equilibrium. Then Hi-Tech Printing Company invents a new process that sharply reduces the cost of printing books. The following graph shows Hi-Tech's initial marginal-cost curve (MC1) and average-total-cost curve (ATC1) before the new technology, and its marginal-cost curve (MC2) and average-total-cost curve (ATC2) after the new technology. ATC, ATC2 MC1 MC2 Quantity of Books +--- P. Price of Books
- Suppose the book-printing industry is competitive and begins in a long-run equilibrium. Then Hi-Tech Printing Company invents a new process that sharply reduces the cost of printing books. The following graph shows Hi-Tech's initial marginal-cost curve (MC1MC1) and average-total-cost curve (ATC1ATC1) before the new technology, and its marginal-cost curve (MC2MC2) and average-total-cost curve (ATC2ATC2) after the new technology. Now suppose the patent expires and other firms are free to use the technology. Which of the following statements are true about what happens in the long run? Check all that apply. The market price stays at P1P1. Hi-Tech's average-total-cost curve rise back to ATC1ATC1. All firms earn zero profit.Torushka is a profit maximizing firm producing wooden dolls, which it can produce and sell in its home country, Russia, and abroad in France. The average cost (AC) curve on the following graph represents Igrushka's cost of producing wooden dolls within one factory, whether in Russia or in France. COST (Dollars per wooden doll) 10 9 0 D 10 20 30 40 50 60 70 80 QUANTITY (Thousands of wooden dolls) AC 90 100 ? ←Consider the competitive market for sports jackets. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. For each price in the following table, use the graph to determine the number of jackets this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero jackets and the profit-maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will make a profit, suffer a loss, or break even at each price. Price Quantity Produce or Shut Down? Profit or Loss? (Dollars per jacket) (Jackets) 4 8 12 36 48 60 On the following graph, use the orange points (square…