Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 16, Problem 10P
To determine
If as combining managerial coordination with the market exchange in order to produce its good or service occur in government bureaus.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
How do government regulations attempt to increase efficiency? (Pick the best answer)
Federal policy works to increase competition in the marketplace, thus, firms who produce similar goods and
services have to increase quality and innovate to reduce costs in order to stay in business.
O State governments regulate intrastate commerce, and states like Texas have created an economic
environment that is favorable to business to entice them to relocate to the state, and to bring with them
higher paying jobs, which is better for the overall economy.
O The federal government, through the interstate commerce clause, has the authority to pressure companies
to merge, and to offer public funding if the merger causes the venture to lose capital in the process, which
hurts investors.
(Reading) Many local government officials see immigration
detention as good for the local economy. Do these facilities
bring economic benefits? What happens when ICE contracts
end or fall through?
(Choose the correct answer and briefly explain)
Knowledge Booster
Similar questions
- Note : Please (Only do part 3) Part 1: Some Once-lers live in a wonderful land filled with beautiful truffula trees. They each independently chop down the truffula trees to make and sell thneeds. The total value of thneeds sold is f(x) = 150x − 5x2, where x is the number of truffula trees chopped down. If it costs 20 dollars to chop down a truffula tree, how many trees will the members of the Once-ler family collectively chop down? a. 13 b. 28 c. 24 d. 15 e. 14 Part 2: (continued from previous question) The Lorax appears from a truffula stump and demands that the Once-lers act more responsibly. He demands that they chop down the socially optimal number of truffula trees. How many trees would be chopped down in the social optimum? a. 13 b. 16 c. 15 d. 14 e. 12 Part 3: (Continued from above) Because the Once-lers are motivated by individual profit and won’t simply do what the Lorax says, he instead imposes a fine for every tree that the Once-lers chop down. How big must this fine be…arrow_forwardQuestion 12 1 pts (Figure: Marginal Revenue) What is the marginal revenue of the sixth unit in the following example? Price $8 $7 $6 $5 .... $4 $3 $2 $1 23 1 2 100 3 10 78 Quantityarrow_forward(Figure: Marginal Revenue) What is the marginal revenue of the third unit in the following example? Price $8 $7 $6 $5 $4 $3 $2 $1 7 8 Quantity 1 3 4 $5 $0 $18 $4 $6 2.arrow_forward
- 40.) What was one negative consequence of the development of factories? a. People migrated to cities for factory jobs b. the first textile factory was built in England c. Diseases spread quickly through cramped factory neighborhoodsarrow_forward3. Mercantilism Mercantilism is an economic system which developed after manorialism (from the 15th to the 18th centuries – time period) and is associated with colonial types of government. Some countries that practiced mercantilism included Great Britain, Portugal and Spain (society). Mercantilism is when a country believes that the more wealth it stores up, the greater their government should be. So, mercantilist countries build up their nation's wealth by exporting (selling) more goods than they import (buy from other countries). Countries needed to find places to sell their goods as well as to find places where to get natural resources. For this reason, they found and conquered colonies. Colonies supplied their Mother countries with the raw materials that were used to produce finished goods and then send those goods back to their colonies. Generally, merchants controlled what resources were to be produced and how they were to be used, sold or traded. However, monarchs (kings or…arrow_forwardpart A, B, C (see graph pic) A)what is the dollar value of the total surplus producer surplus plus consumer surplus when the efficient output level Q1 when is being produced? how large is the dollar value of the consumer surplus at Q1? B) What is the dollar value of the deadweight loss when level Q2 is being produced?what is the total surplus one output level Q2 is being produced? C) what is the dollar value of the deadweight loss went output level Q3 is produced? what is the dollar value of the total surplus when output level Q3 is produced?arrow_forward
- (MANAGERIAL ECONOMICS) Show algebraic solution please Assume that B = -Q 2 + 4,500Q and C= 2Q 2 are the benefits and costs of increasing the units of X-brand energy drink (in a 500 ml bottle).A. What is the profit function of X-brand energy drink production? B. What is the profit-maximizing value of Q? Solve the problem using a tabular solution, showing the Profit, MB, MC and MNB values; assume Q varies by 50 units (in 500 ml bottle). Highlight the profit maximizing level.arrow_forward(d) Suppose the demand function is p = 20/x. At what price or output is the revenue maximum? What is the magnitude of the maximum revenue? Graph the revenue function and the marginal revenue function. Suppose that MC = 0; what is the profit-maximizing price and output. IMPORTANT NOTE. I WANT TO SEE THE GRAPH FOR THIS QUESTION. I have been posting this question over and over but never seen the graph. PLEASE!arrow_forward(1.) Johnny Rockabilly has just finished recording his latest CD. His record company marketing department determines that the demand for the CD is as follows: Number of CDs Price $24 10,000 22 20,000 20 30,000 18 40,000 6 50,000 3 60,000 The company can produce the CD with no fixed cost and a variable cost of $12 per CD. a. Find total revenues and marginal revenues for each of the quantities. b. What quantity of CDs would maximize profit? What would the price be?arrow_forward
- in which of the following statement is true? (choose one letter only) a. the Marginal Revenue is the approximate revenue from the production and sale of the x+1 unit after x units have been sold.b. the Marginal Cost is the approximate cost of producing the x−1 unit before x units have been produced. c. the Marginal Profit is the profit from the production and sale of the xth unit. d. All of these e. none of the abovearrow_forward(dollars) 10 8 6 0 MR MC Quantity 1. A monopoly and is currently charging a price of $10, what would you advise them to do? 2. A monopoly and is currently charging a price of $8, what would you advise them to do? 3. If the monopoly is currently charging a price of $6, what would you advise them to do?arrow_forward4. Perfect competition is a hypothetical market form associated with neo- classical economic theory. A number of assumptions are made which provide the key components of the definition, including: the existence of perfect knowledge, no barriers to entry and homogeneous output. Critically analyze the perfect competition and pure competition from the viewpoint of economics. (10arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
