Which of the following would reduce the supply of computers? higher wage rates for the workers that assemble the computers a reduction in the price of computers a technological improvement that lowers the cost of producing the computers a reduction in the price of computer chips used to produce the computers

Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 09 18 27 A + 36 45 54 63 72 81 QUANTITY (Scooters) B Demand 90 90 99 108 117 Total Revenue ?

Use the table to find the required value:  Price $32 Quantity 400,000 Explicit Costs $3,500,000 Implicit Costs $4,100,000 Calculate the economic cost.

Marginal cost is the change in the price of a good for a one unit change in output. fixed cost associated with each unit of output. change in total cost for a one unit change in output. average cost of producing each unit of output.

If you do not have a large market for your product or service, what should you do to be sure it retains its value?     a)Make sure to scale your business and its cost to the size of your market.     b)Identify other products or services that you could include alongside the original in order to increase market size.     c)Consider ways to substantially change your product or service in order to increase your market size.     d)Shelve your idea; perhaps the market will increase in future.

A taxi company finds success in its city of operation. Due to this success, a new company comes into town to try and compete with the original company. What has the inclusion of this new company created, and what shift will it cause in the market? Decreased input price; increase in supply Increased number of sellers; increase in supply Decreased price of complement goods; decrease in demand Increased number of consumers; increase in demand

If you do not have a large market for your product or service, what should you do to be sure it retains its value? Make sure to scale your business and its cost to the size of your market. Identify other products or services that you could include alongside the original in order to increase market size. Consider ways to substantially change your product or service in order to increase your market size. Shelve your idea; perhaps the market will increase in future.

Charles's Performance Pizza is a small restaurant in Houston that sells gluten-free pizzas. Charles's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Charles signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Charles's kitchen cannot fit more than two ovens, Charles cannot change the number of ovens he uses in his production of pizzas in the short run. However, Charles's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Charles lets them know how many workers he needs for each day of the week. In the short run, these workers are variable v inputs, and the ovens are fixed inputs. Charles's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas)…

THE OCOBEE RIVER RAFTING COMPANY Vicki Smith, Penny Miller, and Darryl Davis are students at State University. In the summer they often go rafting with other students down the Ocobee River in the nearby Blue Ridge Mountain foothills. The river has a number of minor rapids but is not generally dangerous. The students' rafts basically consist of large rubber tubes, sometimes joined together with ski rope. They have noticed that a number of students who come to the river don't have rubber rafts and often ask to borrow theirs, which can be very annoying. In discussing this nuisance, it occurred to Vicki, Penny, and Darryl that the problem might provide an opportunity to make some extra money. They considered starting a new enterprise, the Ocobee River Rafting Company, to sell rubber rafts at the river. They determined that their initial investment would be about $3,000 to rent a small parcel of land next to the river on which to make and sell the rafts; to purchase a tent to operate out…

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