Lesson 8 - CostsQuestion 7 Consider the following two concepts. Are theseconcepts properly defined?Definition I) An economy of scale is when shortrun average costs rise as output (q) increases.Definition II) A perfect substitutes productionfunction is one where the marginal rate oftechnical substitution is either zero or infinity.Select one:a. Definition II is correct but definition I isincorrect.b. Both terms are correctly defined.c. Definition I is correct but definition II isincorrect.d. Both terms are incorrectly defined.

The correct answer is:d. Both terms are incorrectly defined.Explanation:Definition I is incorrect…

Answered: Consider the following two concepts.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 1. Suppose it costs XYZ Airline 120,000 dollars to fly its 500 - seater A380 passenger plane from Dubai to London. The flight service does not include drinks/meal. The passengers pay for food and drinks separately on demand. (a): What is the average cost of a Dubai – London seat on this plane? (b): Currently XYZ airline charges 550 dollars for a Dubai-London ticket (economy) on this plane. Suppose 10 economy seats are left unsold when the plane is starting to board the passengers. A standby passenger offers to pay 250 dollars for a seat. Should the airline sell the ticket to this passenger at 250$? Yes or No? Briefly explain your reaso
1. Zagart's Zambonis manufactures Zambonis (ice rink machines). Its cost of quality data appears below. Total manufacturing cost this year was $4.6 million. Sthou Engineering tests at supplier's factory 18 Field testing new product 12 Inspection costs 42 Process re-engineering 50 Product redesign 42 Rework 45 Sales returns (at cost) 105 Scrap 22 Training employees on new system 6 Warranty repairs 60 Waste 14 Total 416
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2. Hakim works 40 hours per week and currently earns $10.25 per hour at his job. His supervisor tells him that next month, he will receive a 7% pay increase. a) Calculate Hakim's new hourly pay. b) How much will Hakim earn per month after the increase? Assume a 4-pay month.
choices for 1 and 2 are its either "variable" or "fixed" please also do the rest of the questions and graph thank you!
Question 7 If a seller's marginal cost is MC-15+4Q, calculate the seller's total cost (TC) of supplying 9 units of the good, and enter your final answer in the answer box. Round to 1 decimal place. Instructions: (a) Round your answer to 1 decimal place. (b) Enter only your final answer in the answer box. (c) Do not put any words, letters, or special symbols in the answer box. (d) Round your answer to 1 decimal place.
The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Total Revenue 60 70 80 Price per Skater $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? O The revenue increases. O The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) = (d) Find the number of skaters that will maximize the revenue. skaters (e) Find the maximum revenue. $ (f) When the revenue is at the maximum possible, what price is paid per skater? $
/courses/137060/quizzes/485275/take/questions/12956024 k Dashboard Customer Portal - R... Dashboard | Labcor... Clinician SimonMed FLORIDA STA... D Question 3 20 pts In MLA format, how should the following parenthetical citation for the newspaper article, "Ways to Save for College," appear if the article does not have an author and you do not use a signal phrase? O (no author C4) O (anonymous, C4) O("Ways to Save" C4) O (newspaper C4) ◄ Previous Q Search Quiz saved at 10:30pm Next ▸ Submit Quiz a H
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