A company can produce 25 items for a total cost of $ 2250 with a fixed cost of $ 1000 and a selling price of $ 75. Find the cost, revenue, and profit function. Find the break even point. Sketch on the same graph the revenue and cost function and clearly label where the break even point is. When does the company have profit? Explain.

Q: Fill in the Blank Question The price of a of a good is one of the nonprice determinants of its…

A: Non-price determinants affect the demand for a product. Demand could either increase or decrease…

Q: Consider oligopoly models with two firms who have identical marginal costs. The size of the…

A: The objective of the question is to determine whether the size of the deadweight loss in an…

Q: 4. Show that the two utility functions given below generate identical demand functions for goods X…

A: Utility refers to the economic concept where individuals or consumers aim to make choices that…

Q: Question 2: Assume that good 2 is an inferior good after consumers have income of at least $1000 and…

A: The Engle curve shows the relationship between the quantity demanded of a good and consumer income,…

Q: The accompanying graph shows curve XX' and tangents at points A, B, and C. Calculate the slope of…

A: A curve's slope is determined by measuring the difference between two locations on the curve between…

Q: Akila and her family are the only inhabitants of a small oasis in the middle of the desert. They…

A: “Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: Discuss the advantages and disadvantages of fiscal rules. Is fiscal policy in Zambia driven by rules…

A: Fiscal rules are predetermined guidelines or constraints set by governments to govern their fiscal…

Q: Patrick has the following labour supply curve: WAGE RATE (Dollars per hour) W3 W2 W1 Labour Supply…

A: Income effect refers to the change in demand for a good or service caused by a change in the…

Q: Find Nil given a 5% interest rate at home and a 6% interest rate abroad with a home owned investment…

A: A proportion of the amount charged on borrowers' money is referred to as an interest rate. The…

Q: Xplain how advances in technology change labor productivity. Do diminishing returns arise? Provide…

A: In a market economy, the production function links supply (such as labor and capital) to output.…

Q: Every city and county in California is required to have a long-term general plan that establishes

A: The long term general plan is the planning of the government through which the major changes for the…

Q: Talia lives in Houston, Texas. She has traveled to India several times and is interested in working…

A: Economics refers to the study of scarcity and its implications for the use of resources, production…

Q: 1.Suppose a second firm namely Pure Water Ltd enters the market. Let q1 be the output of Clear Water…

A: An oligopoly market model known as "Cournot competition" occurs when two or more enterprises…

Q: We modeled growth in an economy by a growing population. We could also achieve a growing economy by…

A: The number of people born in each period is 404. The constant stock of money is 199. The young…

Q: 7. How can a company economically justify owning a private fleet given the potential costs…

A: The objective of the question is to understand how a company can economically justify the ownership…

Q: Tom Tolkien, the CEO, is not happy with the quality of information being presented by his business…

A: Game theory is a mathematical concept that is used in business economics to analyze strategic…

Q: 2.4 The Ford Motor Company employed fewer people in 2013 than it did in 1980. Is this decline in…

A: Unemployment is an adverse condition where people are jobless. High growth of population and slow…

Q: Suppose there are two types of people, high risk (H) and low risk (L) with utility function U(c) =…

A: This can be described as a form of market in which no single producer or consumer has the power to…

Q: Problem 1. Use the one - period model to explain why tax on capital is not a good idea. Determine…

A: Capital gains taxes are the profits earned by selling an asset. The tax gain is mostly earned by…

Q: roduces only two final goods: fish and berries. The table shows Question Viewer the quantities…

A: The gross domestic product of an economy refers to the value of all the goods and services produced…

Q: Home has 12,000 units of labor available. It can produce two goods, apples and bananas. The unit…

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

Q: The figure shows the flows of expenditure and income in an economy. In 2013, U was $2.0 trillion, V…

A: The circular flow of income and expenditure signifies the model of an economy in which the income…

Q: How much will real GDP increase by if the Federal Reserve decrease the reserve ratio from 20% to 10%…

A: The investment multiplier gauges the influence of investment spending on the entire economy. It is…

Q: 1. Find all pure strategy Nash equilibria. 2. Find all strictly dominated strategies. 3. After…

A: The game has four Nash equilibria related to pure strategy:(a,C): Player 1 chooses strategy [ a ]…

Q: Gains from Trade - End of Chapter Problem Some people enjoy gardening and will grow their own…

A: The gains from trade demonstrates the advantages of specialization and exchange between individuals…

Q: A microbrewery operates next to the Bushville Lake and uses water from the lake during production.…

A: The objective of the question is to determine the quantity of beer that will be produced by the…

Q: city in a developing country does not have a provider of water and sanitation services, leading to…

A: The government needs to set p below the marginal cost. Then, part of the producer surplus will…

Q: a) an increase in supply.   b) a decrease in quantity supplied.   c) a decrease in supply.…

A: Price has a direct relationship with quantity supplied.

Q: The table shows some of the items in a country's National Income and Product Accounts in 2017. Use…

A: The sum of a country's final goods and services in a specific period of time is known as gross…

Q: A housecleaning company receives $36 for each house cleaned. The table below gives the relation…

A: Number of workersHouses cleaned0019217324430535636

Q: Nation 1: China Good 1: Smartphones Nations Given: China and Japan produce only two goods. They have…

A: Comparative advantage is the skill set of an economy to produce goods at a lower opportunity cost.…

Q: You have charged your client $8,650 on a cost plus percentage purchase of two sofas, two lounge…

A: The objective of the question is to find out the net price of the occasional tables at a 15% markup.

Q: The table describes the weekly prices and quantity demanded for two goods, A and B, over a…

A: Cross Price Elasticity: The quantity demanded of one item (good A) in response to a percentage…

Q: Suppose the market for loanable funds is currently in equilibrium. Which of the following factors…

A: 1. An rise in business confidence (c) is likely to result in an increase in interest rates in a…

Q: Calculate the missing values in the table below by using the provided data collected in the…

A: The labor force refers to people who can engage in economic actions and are willing to get involved…

Q: Some cities impose rent control laws, which are price controls or limits on the price of rental…

A: Demand:Demand is the desire of an individual ability and willingness to pay for a product. The…

Q: Hans can do 4 loads of laundry and type 6 pages per hour. Heidi can do 12 loads of laundry and type…

A: The objective of the question is to determine which option would be most beneficial for both Hans…

Q: Joey "Jaws" Chesnut really likes eating Krystal burgers. The following table shows Joey's total cost…

A: The total cost represents the cumulative cost of producing each quantityTotal benefit represents the…

Q: If price is greater than average variable cost and less than average total cost at the…

A: This question involves understanding the short-run decision-making of a perfectly competitive firm…

Q: 1) People respond to incentives A) by ignoring negative incentives and responding to positive…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: Refer to the graph, which shows the market for a product. Which of the following could not explain…

A: Equilibrium price refers to the price at which the quantity demanded by consumers matches the…

Q: Ivan faces a labor supply decision. His well-behaved preferences over the two goods "hours of…

A: The "time expansion path" describes the relationship between Ivan's available free time (T) and his…

Q: Consider the following public good provision game. There are 3 players with private infor- mation…

A: There are three players who have private information about their contribution towards public good…

Q: Total population using economic base analysis Total employment using economic base analysis Total…

A: The expected or forecasted population for a certain future year is referred to as the projected…

Q: The following table shows the average nominal interest rates on six-month treasury bills between…

A: The table in the question shows that the average nominal interest rate on six-month treasury bills…

Q: Hourly Wage (dollars) $8.00 8.50 9.00 9.50 10.00 10.50 Quantity of Quantity of Labor Labor Supplied…

A: At equilibrium, both the quantity supplied and quantity demand will be equal. A surplus arises when…

Q: deadweight loss

A: Deadweight loss refers back to the monetary inefficiency and loss of standard monetary…

Q: Which of the following statements is accurate? a.When unplanned inventory changes are positive, GDP…

A: ***Since the student has posted multiple questions, the expert is required to solve only the first…

Q: 4. The ratio between price and marginal cost p/MC is largest when demand is very elastic at the…

A: The objective of the question is to determine whether the statement is true or false: 'The ratio…

Q: please solve for the sub questions from d to k...you already solved for a to c..thanks

A: The demand function signifies a functional correlation between the price and the quantity demanded…