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- 2014 Tennis balls Golf balls Bottles of Gatorade Price $2 $4 $1 Quantity 100 100 200 2015 Price Quantity Tennis balls Golf balls Bottles of Gatorade $6 100 $2 $2 100 200You are the owner and only employee of a company that sets odds for sporting events. Last year you earned a total revenue of $100,000. Your costs for rent and supplies were $50,000. To start this business you invested an amount of your own capital that could pay you a return of $20,000 a year. Your economic profit last year was O $50,000 O $60,000 O $10,000 O $30,00049
- Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one more worker, the firm’s total monthly revenue will increase from $50,000 to $58,000. If he adds one more tractor, monthly revenue will increase from $50,000 to $62,000. Each additional worker costs $4,000 per month, while an additional tractor would also cost $4,000 per month. LO16.5 a. What is the marginal product of labor? The marginal product of capital? b. What is the ratio of the marginal product of labor to the price of labor (MPL/PL)? What is the ratio of the marginal product of capital to the price of capital (MPK/PK)? c. Is the firm using the least-costly combination of inputs? d. Does adding an additional worker or adding an additional tractor yield a larger increase in total revenue for each dollar spent?Please answer fast a and c pleaseThe GDP of the U.S. represents about O 25 O 35 O 45 O 55 % of the GDP of the world.
- The graph below shows the market for oats. Price per bushel 10 9 8 7 6 LO 5 4 3 2 1 0 15 45 30 75 105 135 120 150 60 90 Quantity per period (in millions of bushels) D Tools S₂ (i)4. A decision at the margin Megan is a hard-working college sophomore. One Thursday, she decides to work nonstop until she has answered 200 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 80 140 180 200 Use the table to answer the following questions. The marginal, or additional, gain from Megan's first hour of work, from 8:00 AM to 9:00 AM, is The marginal gain from Megan's third hour of work, from 10:00 AM to 11:00 AM, is problems. problems. Later, the teaching assistant in Megan's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 70 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of…23
- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingIn the year 2014, the world's average per capita GDP was $14,517. What percent of the world's population lived in a country with per capita GDP that was below $14,517? O 21% 43% 56% OOOO 73% Show Transcribed Text Roughly what percent of the world's population live in countries with per capita GDP lower than the average world per capita GDP? 75% 50% © 25% C 10%Do it propely, correctly.
