If the firms in a market have accounting profits that are larger than their implicit costs, then, in the long run, the market ______ curve will shift to the ______.
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If the firms in a market have accounting profits that are larger than their implicit costs, then, in the long run, the market ______ curve will shift to the ______.
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- Given the input-output matrix below, find the output matrix if final demand changes to 600 for water, 180 for electric power, and 700 for agriculture. Industry Electric Power Water 120 Agriculture Final Demand 240 320 160 Water 480 270 Electric Power Agriculture Other Industry: 60 120 170 400 180 240 240 360 80 The output matrix is X=. (Round to two decimal places as needed.)The following graph describes the domestic market for non-tradable input X that the Project is going to use. According to the graph the economic cost associated with the use of X by the project is the area ... Price N Supply A В R C E Demand (incl. the Project's demand) F Demand O G H K L Quantity OFRK HTRUL GMTRK GMRKK Given the input-output matrix below, find the output matrix if final demand changes to 400 for water, 180 for electric power, and 700 for agriculture. Industry: Water Electric Power Agriculture Other Water 120 120 240 720 The output matrix is X = (Round to two decimal places as needed.) Industry Electric Power 400 200 100 300 8 Agriculture Final Demand 180 240 120 60 260 170 500
- A manufacturer knows that: His TR is given by Revenue = 23Q – Q2 /4 His total cost of production is; Cost = 36 + 2Q + 0.1Q2 Where Q is the weekly production in thousands a) Economists define MR as the rate of change of Total revenue. Derive an expression for Marginal Revenue (MR) b) How do you think Economists’ would define ‘Marginal Cost’? Derive an expression for marginal Cost (MC) and at what output will make marginal Revenue equal Marginal cost? c) Find the total profit and the value of Q that maximizes profitCompany ABC sells 2 products : X and Y. The cost of product is for X is 400 pesos and Y is 300 pesos. The profit for X is 40 and Y is 30. The total demand for both products is 1,000 units. Production cost is 100,000 pesos. How many units that the company produce so that to earn maximum profit? Answer in mathematical expression, tabular form, constraint, and profit.Suppose that a firm produces 400,000 units a year and sells them all for $25 each. The explicit costs of production are $1,200,000 and the implicit costs of production are $500,000. The firm earns an accounting profit of Your Answer: Answer 76°F a
- Complete the table....Please answer 18,19, 20. Thank you!. 18. When Sarah was asked to complete a financial analysis to determine next year’s price of Product X in view of mounting competition, she understood that she did not need to consider fixed costs. She had the correct understanding that fixed costs _____________. Group of answer choices a. Changed at a slower rate than direct production costs depending on product production b. Changed whenever next year’s sales reached the level of sales of the previous year c. Remained constant in the short term regardless of the amount of the product that the company produced d. Remained constant over the useful life of the product regardless of the amount of the product that the company produced 19. Rachel, the chief financial officer of Sunrise Fruit Snacks, needed to determine the company’s projected cost of capital for next year. To do so, she needed to know the following information except Group of answer choices a. The projected debt level…How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford's decisions to halt production? Elaborate and explain.
- You are a fleet manager for a transportation company and, as such, are interested in the changes in the gasoline market since gasoline is an input of production for your company. A hurricane in the Gulf of Mexico disrupts oil refineries. In the short-run, you predict that this hurricane will, all else equal, Select one: a. Increase the supply of gasoline, pushing down its price and increasing your company's profit. b. Decrease the demand for gasoline, pushing down its price and reducing your company's profit. c. Decrease the supply of gasoline, pushing up its price and reducing your company's profit. d. Increase the demand for gasoline, pushing up its price and increasing your company's profit.. An electricity producer has a constant marginal cost of production equal to $40 per megawatt. The residual demand for its electricity is given by P (q) = a−bq, where P is the price and q is the quantity of power generated by this producer. The producer knows the slope, b, but he vertical intercept of the residual demand curve, a is unknown. Assume A and B are greater than zero. If you get stuck, you may answer any of the following questions for special case where a = 80 And b = 0.5 for partial credit. (a) What is the marginal revenue, M R(q), for this producer? b) What is the optimal q for this producer? (c) What is the electricity producer’s optimal price? (d) What is the electricity producer’s optimal bid in a uniform price Auction? e) Suppose b is equal to zero. Would the producer have an incentive to submit a bid above its marginal cost? Explain.Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C=400+2q2, where q is the level of output and C is total cost. (The marginal cost of production, MC(q), is 4q;the fixed cost, FC, is $400). If the price of a watch is $100, how many watches should you produce to maximize profits? You should produce______watches.(Enter your response as an integer.) What will the profit level be? Profit will be $___________. (Enteryour response rounded to two decimal places.) At what minimum price will the firm produce a positive output? In the short run, the firm will produce if price is greater than $__________ per watch. (Enter your response as an integer.