Question 10 Suppose a firm produces two goods, A and B. If they produce the goods jointly, the total cost is TC = 100 + 50QĄQB – /QAQB If they produce the goods separately, the total cost of producing good A is TC = 75 + 3000QA+ 1000QB +Qu² + QB° If the firm produces at QA = 40 and Qв 3D 100 then the firm should produce the goods because of of scope. separately; diseconomies jointly; economies jointly; diseconomies separately; economies
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- answer this question bu not on exceldent A boss notices that one of his unscrupulous employees has been stealing company materials lately. He values honesty in himself and his employees, but the stolen property was not valu Consequently, the boss prefers keeping her around rather than having to fire and train a repl Nevertheless, he would ideally like to stop her from stealing. The boss is thinking about issuing a warning: the next person caught stealing any company property will be immediately fired. I Should the boss issue such a warning? (Hint: You need to first find the subgame perfect equilibrium (SPE)) Below is the game in extensive form. The top payoffs belong to the Boss, the bottom payoff belong to the employee. Employee Stop No warning Steal Figure 1: Extensive form of the game Boss Ignore Boss Fire Warning Boss Follow Test Forgive 21 Employee Quit 0Ans all.. otherwise don't give
- The owner of a retail footwear business is considering opening a second retail store. The owner would use marginal analysis to compare O The incremental benefit expected from the second store to the cost of the second store O The total benefits gained from the two stores. O The incremental benefit expected from the second store to the total cost of running both stores. O The total benefits gained from the two stores to the cost of running the two storesAsnwer to this Q?Afcasible production combination for a firm producing/twO: outputs must.be (aOutside tlie pröduction sstbitities fronticrtPPF)" (b) Iaside the PPF ) On the PPE.at-the-pointoftangency with-the iso-revenue Line
- Is it cost of production or utility that governs? What is Marshalls responce? What is the argumetn he makes and how can we see this today?A rational decision-maker takes an action only if the Select one: a. average benefit is greater than the average cost O b. marginal benefit is greater than both the average cost and the marginal cost Oc marginal benefit isgreater thanthe.marginal cost O d. marginal benefit is less than the marginal cost age ter4 ELAST CTYAND ITS APPLICATION TAutosaved.Are ordeing costs and carying couts cconomic ording quantily of mathial?
- Sweaters sell for $19 at the crafts fair. Allie knits sweaters and her marginal costs are given in the table below. Allie's marginal costs increase with each additional sweater. If Allie is behaving rationally, how many sweaters will she sel? Marginal Cost ($) Sweater 2nd Sweater 11 ard Sweater 15 th Sweater 21 sth Sweater 28 eth sweater 35 Allie will sell sweater(s).Suppose that a fim's production tuncson is 2000 1800 in the short run, where there are foed conts of s2.000, und xis the variabie irput whow cont $120 per unt 160 140 1400- What the total coet of producing a leel at cusput q? in oher words, idertify the totsl cost function Cigi S 1200 The total coet of produsing a ve of ouput q 1000- OA CI2,000 OB. Ci-2,000- 00 Cig-2,000 OD. 200- 1250 25 10 12 14 16 Quanity OE 1250g Ci-2,000. 25 Wite down the equstion for the upply ourve The supply curve is 200 OA paso. OB P-2,000 - 00e OC. P-2004. OD. P-504. OR P-100 ece If price is S00, how many units wil the fm produce? The fim wil produce unts of ouput (Enter your reeponse rounded to two decimal places) What is the level of prot Proft equals . (Enter your response roundud to hwo decinal places.) Ilustrate your anewer on a cost aurve graphn. 200 12 14 Quantity 1) Using the ine drawing tool, draw the maginal cost curve. Label it MC. 2) Luing the point druning oal, indicate the profi masimizing…End of Chapter 5.6 p e The e t Nuber of Sudet Taking Avernge Avernge Average Marginal the Coure Total Co Veriable Cot Fied Cest Cont then ok Ch 88888 E RTY