A company active in a free competitive market with a market price equal to 20 per unit has a total cost equal to TC(Q)= 5000 +2.5Q^(1.25) , where Q is the quantity produced (ie the number of units produced, which need not be an integer). What is the firm's maximum profit?
Q: Inflation has been 2% per year in the last couple of years. At the same time, the price of paella…
A: The objective of the question is to calculate the present value of selling 1000 paella pans annually…
Q: Consider an individual for whom utility is U = ln(I) There are two states of the world (G,B):…
A: According to the theory of uncertainty, an individual's expected utility represents the average…
Q: Consider the macroeconomic model shown below: C 1,500+0.90Y | = 1,500 G = 1,250 NX = 100 Y = C++ G +…
A: Gross domestic product refers to the total output of all the goods and services produced in an…
Q: Name 7 forms of indexing in the private and the public sector? Idenitify several parties likely to…
A: The public sector comprises government-operated entities delivering community services, financed via…
Q: Suppose country A has a central bank with full credibility, and country B has a central bank with no…
A: Central banks serve a critical function in the worldwide economy by controlling monetary policies,…
Q: Consider a small macroeconomy located near the South Pacific Ocean where the current interest rate…
A: Potential output refers to the level of production that an economy can achieve when all resources…
Q: If all government budgets are balanced, and S is greater than I, thenQuestion 2 Select one:A. the…
A: A balanced government budget occurs when a government's total expenditures equal its total revenues…
Q: Suppose Lucia earns $600 per week working as a software engineer for Casement. She uses $8 to have a…
A: Factor market allows businesses to sell their resources to produce goods and services. Here the…
Q: a.) Looking at these graphs, suppose that the good 'X' is labour-intensive, while 'Y' is…
A: Here's a concise summary:a. Capital Abundance: Nation 2 is relatively more capital abundant.b.…
Q: 2. In a federal system of government: a) Power is concentrated in the central government. b) States…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A bag factory produces 30 units of output. Its average fixed cost (AFC) = $32, average total cost…
A: The objective of the question is to calculate the total variable cost (TVC) of the bag factory given…
Q: Chapter 08 Homework 30 40 QUANTITY (Blinkies) Complete the following table, given the information…
A: Tax is the sum of money that the government of a particular country imposes and collects from its…
Q: What were the factors that led to the adoption of modern monetary and fiscal policies
A: Note: “Since you have posted a question with multiple sub parts, we will provide the solution only…
Q: You are the manager of a monopoly. Your analytics department estimates that a typical consumer’s…
A: Market: MonopolyConsumer’s inverse demand function: P = 200 − 20QFirm's Cost function: C(Q) =…
Q: Can you show me the answer of question c and d? Thank you so much for your help
A: To answer parts (c) and (d) of the first question and part (a) of the second question, we need to…
Q: Suppose that Lionel Messi is negotiating a contract with FC Barcelona. Messi has an offer from Real…
A: Game theory in sports economics investigates the tactical interplay of players, squads, and…
Q: Consider an economy located near the Indian Ocean where the main industries are agriculture and…
A: Natural Rate of Unemployment: The natural rate of unemployment represents the level of unemployment…
Q: Price of Canadian dollars in U.S. dollars 1.05 1.03 1.01 0.99 0.97 20 40 60 80 100 Quantity of…
A: a) The intersection of the demand and supply curves gives the equilibrium quantity of dollars…
Q: 1 1 2. Suppose a producer's production function is F(K, L) = 3KZL The cost of K is 20 (r = 20) and…
A: Microeconomic firm theory investigates how companies maximize profit through production, resource…
Q: Consider a country with the national income of $300 billion, the amount of taxes paid by households…
A: Keynes has proposed increasing government spending during times of recession and economic…
Q: a) There is small parking lot behind a Floral Shop that has two parking lot spaces. Let X be the…
A: (i)The value of a is 0.3 (ii)The probability that there will be at most one car in the parking lot…
Q: The UK is currently building HS2, a new railway that runs from London to the north of England.…
A: The relationship between the amount required (horizontal axis) and the price of an item or service…
Q: What is the benefit of having state and local taxes on income instead of collecting all such taxes…
A: Taxes are compulsory financial charges or levies imposed by governments on individuals, businesses,…
Q: Two countries, Pakistan and India, produce two commodities: apples and mangoes. The amount of each…
A: In short:Opportunity Cost for Mangoes:Pakistan: 1 apple per mango.India: 1.25 apples per…
Q: City Beautiful Brewer is a beer maker in Orlando that produces and sells four varieties of beer.…
A: Total revenue refers to the revenue from sales at different levels of output.Average cost refers to…
Q: The most recent trade data can be found on the BEA site. (Links to an external site.) It shows that…
A: A discipline of economics called "international economics" studies the economic exchanges and…
Q: Suppose the nominal interest rate on savings accounts is 11% per year, and both actual and expected…
A: Inflation is the change in the price levels of goods and services in an economy over a certain…
Q: How do economic evaluations in Healthcare inform policy and other decision makers
A: Economics deals with the allocation of limited resources to maximize the welfare of the economy. It…
Q: Compare and contrast the following concepts and indicate their implications to the provison of…
A: In public transport, economies of scale relate to the financial benefits realised when operations…
Q: The “economic way of thinking” is language used to describe a way of thinking that considers the…
A: 1. **Law of Diminishing Returns**: Initially, increasing the amount of money spent on education in…
Q: Following is a list of credit customers along with their amounts owed and the days past due at…
A: 1.Estimated balance for allowance for doubtful accounts$1,1702.DateAccount TitleDebitCreditDec…
Q: Suppose that you are an otherwise law-abiding college professor earning $80,000 a year. Suppose…
A: The term "marginal benefit" (MB) describes the additional value or satisfaction a customer receives…
Q: Use the table to find GDI, GDP, gross private domestic investment, personal income, and personal…
A: GDP is the measure of all final goods and services produced in the economy within a specific time.…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The statement is false. The function of the judicial branch is not to make the law, but to interpret…
Q: 3. Union Water Purification Company (UWPC) is evaluating two possible designs for a new production…
A: Average Sales = (1100+1075+1200+1250+1150+1100+1125) / (7*2.600) = 8000 /…
Q: Donna Mia's is currently selling their dinner specials for $15.00 each. The restaurant is thinking…
A: Kindly note as per the guidelines we are allowed to solve only three sub parts of a question at a…
Q: Drive the first order Condition Maximization for Intermediate good proclucers with respect to P+ (1)…
A: A company aiming to make the maximum profit by selling goods or services is known as profit…
Q: - Suppose that f(w₁, w2) = (w + w½). What is the associated cost function?
A: The objective of the question is to find the cost function associated with the given production…
Q: The following table shows some information on a hypothetical economy. The table lists real GDP,…
A: Real GDPCIGX-MAEUnplanned InventoryDirection of Real GDP and…
Q: e. Electric power providers become more confident in the ability for wind farms to meet electricity…
A: Electric power providers become more confident in the ability for wind farms to meet electricity…
Q: Assume that you want to decide whether Country A or Country B to live. You have only information…
A: The statistical measure of income inequality is expressed through Gini coefficient. The value lies…
Q: explain with example the interest rate channel of monetary policy
A: The interest rate channel is an important channel for the central bank of the economy (such as the…
Q: Price $16 $15 $14 $13 $12 432 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 0 D S 10 20 30 40 50 60 70 80 90…
A: Producer surplus is the difference between the price a producer receives for a good and the minimum…
Q: Fare F ($/trip) and travel time T (hr/trip) for Bus and Rails are given Bus: F= 40, T = 3 Rail: F…
A: Fare F ($/trip) and travel time T (hr/trip) for Bus and Rails are givenUtility function,
Q: Consider an economy located near the Indian Ocean where the main industries are agriculture and…
A: In the face of globalization, the practice of maintaining budget deficits has gained favor. Most…
Q: State THREE roles and TWO functions of any large financial institution in the commonwealth of…
A: 1. Three roles of a large financial institution in Dominica: 1. Providing financial services 2.…
Q: type plz
A: The first part of the question is asking for reasons why inflation is a problem in South Africa.…
Q: 7. What is the law of comparative advantage? According to the law of comparative advantage, what…
A: 1. The law of comparative advantage states that nations should specialize in producing goods and…
Q: Discuss THREE monetary strategies currently implemented in the commonwealth of Dominica.
A: Fiscal Consolidation:Citizenship-by-Investment (CBI) Program:Promotion of Economic Growth:…
Q: What can cause the demand curve to shift in? a. Increase in income b. Technological Decline C.…
A: The demand curve shows an inverse relationship between price and quantity demanded. Demand is a…
Step by step
Solved in 3 steps
- A firm's demand function is Q = 16 – P and its total cost function is defined as TC = 3 + Q +0.25Q 2 . Use these two functions to form the firm's profit function and then determine the level ofoutput that yields the profit maximum. What is the level of profit at the optimum?A firm currently produces 500 units at a price of $40. If it earns $1,500 profit, what must the average cost be? Note: The formula for Profit = Quantity X (Price - Average Cost) Provide your answer below:A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Question
- A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (b) Find a function for the average cost of this company?
- The market for smart thermostats has grown increasingly competitive. Producers of smart thermostats all rely on the same technology and face the same costs. The cost function for a smart thermostat producer is given by the following function: c(y)=-10y+2003 where y stands for the number of smart thermostats produced and sold in a month. 2nd attempt Suppose the market demand for smart thermostats in any month is given by QD = 305 - p. In the long-run equilibrium, we would expect to find firms in the industry. See HintA particular computing company finds that its weekly profit, in dollars, from the production and sale of x laptop computers is P(x) = -0.006x³ -0.3x² +600x-800. Currently the company builds and sells 7 laptops weekly a) What is the current weekly profit? b) How much profit would be lost if production and sales dropped to 6 laptops weekly? c) What is the marginal profit when x = 7? d) Use the answer from part (a) and (c) to estimate the profit resulting from the production and sale of 8 laptops weekly a) The current weekly profit is $ (Round to the nearest cent as needed) b) The decrease in profit is $ (Round to the nearest cent as needed.) c) The marginal profit when x=7 is $ (Round to the nearest cent as needed) CLOT d) The profit resulting from the production and sale of 8 laptops weekly is approximately $ (Round to the nearest cent as needed)A firm in a competitive industry has the following cost function: c(y) = y3/3 - 20y2 +310y. (Note that this is a different cost function than the one used in the earlier problems.) What is the minimum price at which this firm will supply any output? (Also note that the question is asking for price, not quantity.) Answer is integer.
- Assume a competitive firm faces a market price of $100, a cost curve of: C = 0.25q + 50q + 1,600 and a marginal cost curve of: MC = 0.50g + 50. The firm's profit maximizing output level is 100.00 units, the profit per unit is $9.00, and total profit is: $900.00. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produce units. (round your answer to two decimal places) If the firm produced this output level, what would be the profit? Its profit would be S. (round your answer to the nearest penny)A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed cost of $200.a). Is the efficient scale of the firm more than, less than, or exactly 100 units?Suppose that the cost of producing q appliances is C(q) = 500 – 4q + q? and the demand function is given by p = 14 – 2 q. The quantity that minimizes the average cost function and the corresponding price are g= 22.36 and p= -30.72 a) Why the corresponding price is negative? explain The maximum profit would be -473 b) Why the maximum profit is minus? explain what happens