1. What are the characteristics of a PC firm?

Q: Market price is always more than factor cost. True /False

A: We must remember that to calculate the Market price we have to add up the net Indirect taxes to the…

Q: The demand function of "İsot Capsicum Biber Komandit Şirketi" of Ceylanpınar is: p = 1000 e 2 q…

A:

Q: You get a discount on items when you order 500. The price of the item is $10 if you order less than…

A: Economic order quantity is positively related to the annual demand. It means as annual demand rises…

Q: An entrepreneur intends to sell his product for 6.4$ each. The daily cost or expenses can be…

A: Price is 6.4$ each. cost or expenses= x+9.1+.11x^2,

Q: An optimal tort system minimizes: A) Accident costs B) Avoidance costs C) The product of (A) and…

A: Optimal System Cost is the economic law established to protect the accidental cost incurred in…

Q: Discuss the supplier evaluation and selection process.

A: The supplier selection is the process by which the firms in the economy selects the suppliers…

Q: The normal profit are those which are earned in the short period only True/False

A: Normal profit refers to that point in which the total cost are always or initially equal to the…

Q: According to ISO 17025:2017, an accredited organisation is required to inform HKAS Executive of any…

A: This is a  standard that can facilitate the exchange of information as well as corporation and…

Q: Consumers may not experience the benefits of economies of scale if a natural monopoly

A: A firm experiences economies of scale when the average cost of production falls as the production…

Q: Please select Correct answer  impulse buying takes place when consumers (a) always buy the same…

A: There are many factors affecting implusive buying which are: to reduce stress due to promotional…

Q: Total cost is $320 and the fixed cost is $100 Calculate variable cost

A: The data presented in the question about is:- Total cost = $320  Fixed cost = $100 Variable cost is…

Q: T/F. It is always sensible to simultaneously produce two related films if it costs less to produce…

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

Q: A decline in the average cost of producing bank services as the size of the bank expands is called…

A: Option a: This option is correct or incorrect because decrease in unit costs after a merger due to…

Q: Give the advantages and disadvantages of outsourcing.

A: Outsourcing was first perceived as a business procedure in 1989 and turned into a basic piece of…

Q: has the greatest advantage of lower cost labor, regional suppliers, and local knowledge when making…

A: A strategy where greatest advantage of lower-cost labor, regional suppliers, and local knowledge is…

Q: A company has established that the relationship between the sales price for one of its products and…

A: Profit Maximization:Profit maximization is an objective pursued by firms. It entails optimizing…

Q: Multichoice company broadcasts to subscribers in Lusaka and Solwezi. The demand for each of these…

A: Monopoly uses discrimination policy to increase their profits high . It is the form of market where…

Q: In the event of the death of a licensee, a temporary license may be issued to which of the following…

A: Answer: In the event of the death of a licensee, a temporary license may be issued to either…

Q: Bill is a small farmer. You ask Bill how he decides whether to plant beans or corn. He claims the…

A: Production, in economics and business, alludes to the most common way of changing over inputs or…

Q: When US cities are grouped for analytical purposes the Bureau of the Census labels each as an blank…

A: Economics as a subject is used to study and plan the allocation of scarce resources among humans…

Q: Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of…

A: The measure that depicts the point total cost is in turn equal to the total revenue is known as the…

Q: Identify any two potential drawbacks that Unilever could face given their choice of sourcing method.

A: The RSP comprises a set of Mandatory Requirements that must be met by all of our suppliers in order…

Q: A hair salon has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 –…

A: Answer to the sub parts (g), (h) and (i) are as follows :

Q: If it costs $50 per lost haircut due to customer dissatisfaction and $100 for each unit of capacity…

A: Part-4) Cost per haircut dissatisfaction's = 50 Each Unit of Capacity = 100

Q: There is value in evaluating the products you buy out of habit because you may find that you have…

A: In a market, there are various types of products offered by the producers from which some of the…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: According to the table there are 300 units demanded at the price of $10. Assuming one customer buys…

Q: There is a monthly profit objective of $17,000 for Ricky's Repair Shop. 60 percent of for by…

A: The profit margin is a proportion of an organization's benefit (deals short all costs) separated by…

Q: Bags Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200…

A: Break-even Analysis- Breakeven is the point at which a firm must cover its costs of production.…

Q: Its variable cost per unit grew with the quantity generated in a break-even study. Every node in a…

A: The break-even point of a business can be stated in terms of dollars of income , or items produced…

Q: The revenue and cost functions for a particular product are given below. The cost and revenue are…

A: Given values; R(x) = −0.2x2 + 172x   C(x) = 78x + 10065

Q: What type of pricing does this represent? a. Limit pricing. b. 1st degree price discrimination c.…

A: Price discrimination refers to the practice of firms charging different price to different…

Q: Condensation polymerisation of formaldehyde with not produce phenolic resin. does Resorcinol Phenol…

A: Thank you.

Q: When choosing a distribution strategy, which of the following statements are true?

A: The strategy which involves deciding the channel through which the goods and services are to be made…

Q: As a result of the rapid pace of innovation:    A) market segmentation has reduced.    B)…

A: Pace of innovation refers to development of new technology, new invention which leads to rapid…

Q: XYZ company can manufacture their own products and sells them. They are able to control the demand…

A: Profit maximizing quantity of output is where marginal revenue equals marginal cost.

Q: None

A: QUESTION D: To find the order quantity (q) that results in the minimum annual cost and to determine…

Q: It costs $1,000 to produce one pill and $1,002 to produce two pills. The incremental cost of a pill…

A: In economics the incremental cost refers to an amount of money that company incures to make an extra…

Q: When average cost decreases as output increases, Group of answer choices marginal cost is below…

A: The economies of scale curve is a long-run average cost curve since it permits all variables of…

Q: An example of technology is a) earning plumbing certification Ob) new patent c) degree in finance…

A: Technology is a scientific method and knowledge which is used for the practical purposes.

Q: Calculate the optimal markup on cost for each service, based on the following estimates of point…

A: When there is low price elasticity of demand, the optimal markup cost is high. There is an inverse…

Q: Fixed cost Variable cost No. of cupcake Total cost (FC+VC)   $420 $2.10 1 $422.10…

A: (I) Graph of both functions on the same coordinate axes is shown below:

Q: Which of the following businesses is most likely to use process costing? Custom home builder CPA…

A: Chemical manufacturing typically involves continuous production processes where products are…

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.