Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Problem: Given the quantity and total fixed and variable costs, calculate the remaining costs the complete the following table.
Q1. Which is the dependent variable and which is the independent variable? Explain. Q2. Assuming that a linear functional relationship exists, determine the equation that relates total costs to total
Question 1: If total cost, T(X), is related to output, X, by the equation: T(X) = 0.001X2 + 0.5X + 50 a. What is the variable cost function? b. What is the average cost function?
At a price of $1.20 calculate the total revenue and profit at each level of production. Where do they Maximize Profits?
Two partners who own Progressive Business Solutions, which currently operates out of an office in a small town near Boston, just discovered a vacancy in an office building in downtown Boston.
Problem 1. Firms under perfect competition receives zero profit, because a. There are too many firms to compete. b. There are no barriers to entry. c. There is complete information. d. The firms' prod
Should you take the $500 rebate and finance through your credit union or forgo the rebate and finance through the dealership at the lower 2.9% APR?
Q1. Determine the breakeven output and total sales revenues. Q2. Determine the output that would generate a total profit of $60,000 and the total sales revenues at that output level.
The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit.
Describe the information asymmetry, the adverse selection problem,and why soft selling is a successful signal.
Q1. Should General Medical accept the Defense Department order? Q2. If sales for the balance of the year are expected to be 50,000 units less because of some lost customers who do not return, should
You are the manager of a firm that has an exclusive license to produce your product. The inverse market demand curve is P = 900-1.5Q. Your cost function is C(Q)=2Q+Q^2. Determine the output you shou
Derive the average- and marginal-cost schedules. Please explain answers and show work.
I am exploring the option of starting my own business. In addition to creating a business plan (which I am not quite sure how to do), I am reviewing factors and costs.
Explain why setting price by marking up cost is inherently circular for a manufacturing firm.
Each firm currently has five units of K. The price of each worker is $50 per day. The price of capital, K, is $100 per day. Suppose the industry is in long and short-run equilibrium.
Problem: Cost figures for a hypothetical firm are given in the attached spreadsheet. Use them for the exercises below. The Firm is selling a perfectly competitive market. What is the minimum price
Assume that total fixed cost equals $3,000,000, and recalculate the values of the four variables listed above. For both cases, calculate the firm's profit or loss.
As you begin reviewing the company's production information, you learn that labor is paid $12 per hour and the last worker hired produced 150 rollers per hour. The company rents roller cutters and c
Suppose a firm in monopolistic competition has the following demand schedule. Suppose the marginal cost is a constant $70. How much will the firm produce? Is this a long- or short-run situation? If
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, how much output must the f
Q1. What is the component cost of the equity raised by selling new common stock? Q2. What is the maximum amount of new capital that can be raised at the lowest component cost of equity?
Do the two inputs exhibit the characteristics of constant, increasing, or decreasing marginal rates of technical substitution? How do you know?
If a single firm produces crayons in both locations, then it will obviously want to get as large an output as possible given the labor input it uses. How should it allocate labor between the locatio
Which variable (s) is (are) statistically significant in explaining variations in the average operating expense ratio?