Calculate the Total Revenue, Total Cost, and Profit for the firm below. Show your math. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer.  Take care of plagiarism. Answer completely. You will get up vote for sure.

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A: Demand refers to the quantity that a consumer wises to buy at a given price in given period of time

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A: The real value is the price-adjusted nominal value.=> Real value = (Nominal Value / CPI)…

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A: It can be defined as the concept that shows the rate at which a consumer is willing to exchange one…

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Q: Suppose we find that the price elasticity of demand for a product is 0.4 when its price is increased…

A: Price elasticity of demand measures the responsiveness of quantity demanded with respect to change…

Q: The Kenyan flower industry sprang up primarily because of increases in the price of oil. Select one:…

A: Economic growth is the long-term, steadily rising production and consumption of products and…

Q: 51. The Fed is conducting expansionary monetary policy if it: A. increases the discount rate, buys…

A: Expansionary monetary policy is a powerful tool employed by central banks to invigorate and bolster…

Q: Question 7 You have decided to retire in 38 years and you want to have $2,100,000 in the bank at…

A: Future value (FV) = $2,100,000Present value (PV) = $26,500 Interest rate (i) = 3.5%Time (n) = 38…

Q: Supply. S Quantity O Movement from S2 to S1 Movement from $1 to $2, O Movement from A to B Movement…

A: Supply curve shows  graphical representation of the relationship between the price of a product  and…

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A: Equilibrium price and quantity occurs at the point where the quantity demanded by consumers equals…

Q: The diagram to the right displays short-run cost curves for a facility that produces liquid crystal…

A: Average cost refers to total cost per unit of output. It is calculated as total cost divided by…

Q: Consider the following graph depicting (linear) demands for good A and good B, denoted Da and Db…

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Q: One year ago Sam purchased bonds for $100,000. He just sold them for $120,000. During the year the…

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Q: 3. Using the graph below, show the market equilibrium when a $30 per-unit tax is imposed. 4. What…

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Q: uestion 1 hat differentiates a Subgame Perfect Nash Equilibrium from a Nash Equilibrium? A Subgame…

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Q: Change in Demand Determinants: The PRC's increased demand for US crop products, such as corn and…

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Q: compare the results of this graph for small vs large time windows. ( the first graph= small time…

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Q: The figure shows the flows of expenditure and income on Lotus Island. In 2016, R was $11 billion; W…

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Q: Please use the ARC Method to calculate the own-price elasticity for the scenario below: Cason…

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Q: 2. Explain each of the following statements using supply-and-demand diagrams. A. Smartphones:…

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Q: explain four properties of isoquants

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Q: Question 7 Total revenue increases as price increases, as long as demand is elastic. always…

A: Total revenue is the total income generated by selling goods or services in the…

Q: Sam owns a water pump. Because pumping large amounts of water is harder than pumping small amounts,…

A: A supply curve is a graphical representation of the relationship between the quantity of a good or…

Q: 1. Mary has $100 to spend on goods X and Y. The price of Y is pY = $2.50. Mary has wellbehaved…

A: A budget constraint, additionally regarded as a price range line or earnings constraint, is a…

Q: The future worth in year 10 of a decreasing geometric gradient series of cash flows was found to be…

A: Future worth F= $40,000Interest rate (i) =10%rate of change (g) =-8%Let the cash flow in year 1 is…

Q: duction function: Y = K1/2L1/2 Balance equation: Y = C + I + G + NX Consumption function: C =…

A: When a country opens up to trade two components are added one is exports, what the domestic country…

Q: The table below shows data for the production of Avocados for an individual firm operating in a…

A: Monopolistic competition refers to a market structure where firms produce identical goods with some…

Q: he University of Iowa was voted the #1 "party school" in 2013. The University of Iowa is located in…

A: Demand is the desire backed by a willingness and the ability to pay by an individual. As price…

Q: Consider the following ppfs. Apples 300 Canada Apples 100 10 70 LE 30 20 40 60 80 130 120 140 160…

A: Opportunity cost is the next best alternative.Opportunity cost shows the forgone units of one good…

Q: According to the "World View" below, World View: Comparative Macro Performance The performance of…

A: Misery index is considered as the seasonal adjustment of unemployment rate and the inflation rate.…

Q: Kiwidale Dairy is considering purchasing a new ice-cream maker. Two models, Smoothie and Creamy, are…

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Q: Consider a firm that produces ships and submarines. This firm's production transformation curves for…

A: Economies of scope say that the unit cost to produce a product will decrease as the variety of…

Q: If the goal in managing nonrenewable resources is to extend the life of these resources by slowing…

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Q: On May 1, 1950, M deposited $100 in a savings account which pays 3% compounded semiannually and…

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Q: Figure 4-9 Price per pack $12 Tax Demand Quantity of cigarettes (1000s of packs) e 4-9 shows the…

A: Tax is a compulsory financial charge or levy imposed by the government on individuals, businesses,…

Q: A passive monetary policy adjusts money supply automatically in response to economic conditions.…

A: Passive Monetary Policy:A policy approach where central banks make minimal or no active adjustments…

Q: Number of Baskets of Fish (per hour) 0 1 2 3 4 5 Price $13 13 13 13 13 Total Revenue SO 13 26 39 52…

A: Total revenue is the total receipts a seller can obtain from selling goods or services to buyers. It…

Q: Assume that coffee and tea are substitutes. John and Pamela are vendors at MANCOSA campus. John…

A: Person J and P sell tea and coffee respectively. The price for the person is R15 for each cup.On a…

Q: When the price of coffee increases 5%, quantity demanded decreases 10%. The price elasticity of…

A: The price elasticity of demand is calculated as the percentage change in quantity demanded divided…