Review Test Submission Final Online – 2023 Spring Term

ECON 4333-001 (online) Spring 2020 Homework Assignment #2-Revised     MR This question is based on the figure above, which describes cost and demand conditions in the widget industry. Assume that costs functions to not vary according to market structure (competition vs. monopoly, for example). Complete the following table. All variables should be expressed in dollars. (Hint: use the Cowling and Mueller method for measuring consumer surplus and deadweight)   Market Structure   Price   Quantity Economic Profit Consumer Surplus Dead Weight Loss Competition  500  400       Monopoly             The following table illustrates the distribution of retail grocery sales in the Asheville, NC market:                                                                                                               Market                                                                           Retailer                Share (%)  Kroger…

ANSWER NUMBER 2 ONLY SUBJECT: MANAGERIAL ECONOMICS COURSE CODE: BEC 101

SUBJECT: MANAGERIAL ECONOMICS COURSE CODE: BEC 101 I'VE ALREADY ANSWER NUMBER 1. ANSWER NUMBER 2 AND 3 ONLY

Alex is a hard-working college sophomore. One Saturday, he decides to work nonstop until he has answered 50 practice problems for his economics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 20 10:00 AM 35 11:00 AM 45 Noon 50   Use the table to answer the following questions. The marginal, or additional, gain from Alex’s second hour of work, from 9:00 AM to 10:00 AM, is   problems.   The marginal gain from Alex’s fourth hour of work, from 11:00 AM to noon, is   problems.   Later, the teaching assistant in Alex’s economics course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 7.5 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…

Eileen is a hard-working college sophomore. One Sunday, she decides to work nonstop until she has answered 250 practice problems for her math 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 Total Problems Answered 8:00 AM 0 9:00 AM 100 10:00 AM 175 11:00 AM 225 Noon 250   Use the table to answer the following questions. The marginal, or additional, gain from Eileen’s second hour of work, from 9:00 AM to 10:00 AM, is   problems.   The marginal gain from Eileen’s fourth hour of work, from 11:00 AM to noon, is   problems.

Raphael is a hard-working college junior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his math course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem.   Time Total Problems Answered 8:00 AM 0 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100   Use the table to answer the following questions.   The marginal, or additional, gain from Raphael’s first hour of work, from 8:00 AM to 9:00 AM, is _____ problems.   The marginal gain from Raphael’s third hour of work, from 10:00 AM to 11:00 AM, is _____ problems.   Later, the teaching assistant in Raphael’s math course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 25 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always…

A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000. The cost of capital is $3,000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard.  What core principles should be considered in the snowboard company's decision making? (i) Scarcity, Choice and Opportunity Cost (ii) Cost-Benefit analysis (iii) Incentive Principle (iv) Diminishing Returns

SUBJECT: MANAGERIAL ECONOMICS COURSE CODE: BEC 101 I'VE ALREADY ANSWER NUMBER 1, PLEASE HELP ME IN NUMBER 6

The following is cost information for the Creamy Crisp Donut Company:Entrepreneur's potential earnings as a salaried worker = $50,000Annual lease on building = $22,000Annual revenue from operations = $380,000Payments to workers = $120,000Utilities (electricity, water, disposal) costs = $8,000Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000Entrepreneur's forgone interest on personal funds used to finance the business = $6,000Refer to the data. Creamy Crisp's implicit costs are:    A. $150,000   B. $94,000   C. $136,000   D. $156,000

Ginny is a hard-working college senior. One Sunday, she decides to work nonstop until she has answered 150 practice problems for her math 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 Total Problems Answered 8:00 AM 0 9:00 AM 60 10:00 AM 105 11:00 AM 135 Noon 150   Use the table to answer the following questions. The marginal, or additional, gain from Ginny’s second hour of work, from 9:00 AM to 10:00 AM, is   problems.   The marginal gain from Ginny’s fourth hour of work, from 11:00 AM to noon, is   problems.   Later, the teaching assistant in Ginny’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 52.5 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…

A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $100  each month for the three-month season. The team pays the players and manager a total of $1000 each month. The team charges $10 for each ticket, and the average customer spends $8 at the concession stand. Attendance averages 30 people at each home game. 1st attempt Part 1    The team earns an average of   $   in revenue for each game and   $   of revenue each season.With total costs of   $   each season, the team finishes the season with   $   of profit. Part 2      In order to break even, the team needs to sell      tickets for each game. Round to the nearest whole number. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

I need help with econ multiple hw questions asap! 46) What would be an example of an implicit cost of production?  A. the cost of a delivery truck in a business that rarely makes deliveries  B. the cost of employee training programs  C. the cost of lost income a student could have earned had they not gone to university  D. the cost of raw materials for producing bread in a bakery 45)

Pick 1 current economic topic below and You will research and find an article that covers the topic you have chosen. You can use an article online or offline from any reputable source. You will write up a review of the article and integrate course concepts into your review. Please make sure you summarize the article. Complete this essay in a Microsoft Word document in APA format and Works Cited page. Please note that a minimum of 700 words for the essay is required. Business costs: ·         Implicit and explicit costs ·         Accounting profits ·         Economic profits ·         Productivity ·         Total costs ·         Marginal costs ·        …

Jane quit her job at IBM where she earned $50,000 a year. She cashed in $50,000 in corporate bonds that earned 10% interest annually to buy a minibus. Jane has decided to buy the mini-bus and set up a commuter service between Lincoln and Omaha. There are 1000 people who will pay $400 a year each for the commuter service; $280 from each person goes for gas, maintenance, insurance, and depreciation. She estimates that her entrepreneurial skills would have typically yielded a normal profit of $5,000 in another business. (a) Complete the following questions: (1) What are Jane’s total revenues? (2) What are Jane’s explicit costs? (3) What is her accounting profit? (b) List the important implicit costs that Jane has not included. (c) What is Jane’s pure economic profit (loss)?

Please awnser following questions and tell me which  multiple choices are correct only please thank you   16   "Creative destruction" is the name given to: Select one or more: a. The process of destroying technology as in the case of the Luddites. b. The process by which new technologies are introduced to replace older, less profitable technologies. c. Increasing competition in a market as the number of firms increases. d. The process of preserving old technologies to protect disappearing ways of life.   17   A profit-maximising firm considers its marginal revenue (MR) and marginal cost (MC) functions. Which of the statements below is correct? Select one or more: a. If MR > MC, increase output to raise profits. b. If MC > MR, increase output to raise profits. c. If MC = MR, raise output to increase profits. d. If MC < MR, lower output to raise profits.

1. April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her help. These are her only costs. April earned total revenue of $100,000. a. Her accountant calculates her profit as $50,000. b. Both answers A and B are correct. c. She has an economic loss. d. Her explicit cost is $105,000. 2. Which of the following does NOT influence the price elasticity of demand? a. the price of the good relative to total income b. the number of substitutes available to consumers c. the amount by which the demand curve shifts when the price of another good changes d. the time period buyers have to respond to a price change 3. If the price of a six-pack of Pepsi falls from $4 to $3 and the quantity purchased increases 80 percent, then demand is a. inelastic. b. unit elastic. c. elastic. d. perfectly inelastic. 4. Goods that can be produced at a…

3 examples and case study of microeconomics affect business

Sean is a hard-working college freshman. One Thursday, he decides to work nonstop until he has answered 88 practice problems for his physics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 40 10:00 AM 64 11:00 AM 80 Noon 88 Use the table to answer the following questions. The marginal, or additional, gain from Sean’s second hour of work, from 9:00 AM to 10:00 AM, is problems.   The marginal gain from Sean’s fourth hour of work, from 11:00 AM to noon, is problems.   Later, the teaching assistant for Sean’s physics course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 12 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…

Your lecturer loves her work, teaching Economics. She has been offered other position in the corporate world that would increase her income by 50 percent, but she has decided to continue working as a lecturer in UNIMAS. Her decision would not change unless the marginal _________ a. benefit of teaching increased. b. cost of teaching increased. c. cost of a corporate job increased. d. benefit of a corporate job decreased.

ABC CO. is considering replacing a production line with a new, more productive one. You are given the information that follows. The existing production line currently generates $100,000 profit per year and could be sold today for $40,000. The new proposed production line would generate profits of $150,000 per year The new proposed production line requires an initial investment $80,000. The company is seeking your advice regarding whether to replace the production line or keep the existing one. Required: Based on the Marginal analysis concept, what would you recommend? 2.State the reasons why focusing on profit only should not be the optimal goal for companies

ABC CO. is considering replacing a production line with a new, more productive one. You are given the information that follows. The existing production line currently generates $100,000 profit per year and could be sold today for $40,000. The new proposed production line would generate profits of $150,000 per year The new proposed production line requires an initial investment $80,000. The company is seeking your advice regarding whether to replace the production line or keep the existing one. Required: Based on the Marginal analysis concept, what would you recommend? State the reasons why focusing on profit only should not be the optimal goal for companies.

Nick is considering quitting his current job as an electrician and following his lifelong dream of opening a restaurant. This decision requires careful analysis and evaluation. If he chooses to do this, he would have to quit his current job, which pays $70,000 a year, and take over a building that he owns and currently rents out for $12,000 a year. His expenses at the restaurant would be $100,000 for food and $8,000 for gas and electricity. Nick should go ahead and quit current job and implement his plans only if the projected revenue is equal or greater than a $12,000 b $82,000 c $108,000 d $190,000 e $70,000

A snowboard company hires 10 skilled employees who are paid a weekly wage of $1000. The cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company's cost will be $13500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. a) Should the company produce and sell it. YES/ NO b) Explain c) What core principles are considered in the snowboard company's decisionmaking? i) Scarcity, Chioce and Opportunity Cost ii) Cost benifit analysis iii) Incentive principle iv) Diminishing returns Select one: 1. All principles are considered 2. (i) only 3. (i) and (ii) only 4. (i), (ii) and (iii) only 5. (ii) and (iii) only 6. (i) and (iv) only 7. (ii) and (iv) only 8. (iii) and (iv) only 9. (ii), (iii) and (iv)

CNG Pipeline Company At the weekly brainstorming session, John Spychalski, president of CNG Pipeline Company (CNG), suggested that they build a new pipeline from Elizabeth, New Jersey, to the Midwest to move refined petroleum products, gasoline, and diesel fuel. Following some discussion, he asked the strategic planning group to consider the idea before the next brown-bag session. Skip Grenoble, vice president for strategic planning, thought that John was not con- sidering the cost and impact of this idea. How could CNG obtain land to build the pipe- line, let alone obtain the necessary capital to finance the project? Then there was the question of the existing refineries located in Ohio, Indiana, and Illinois. Skip knew refined petroleum products were being transported from the Gulf of Mexico refineries via barge and pipeline to the Midwest market areas currently. Skip turned over the project to Evelyn Thomchick, chief strategy analyst, to develop a preliminary analysis of the…

Question 2 The economic cost of education of a student is the summation of all the economic cost of the resources used by the student in order to obtain his or her education. This includes the time the student dedicates to study. Consider Juana’s case. Her tuition is $32,000.00 per year; Juana works part time on a Bookstore and receives $10,000.00 a year for it; if she were going to drop out of college and work full time, Juana would receive $22,000.00 a year. The economic cost of Juana’s education (per year) is? $12,000.00 $42,000.00 $54,000.00 $44,000.00 $32,000.00

A snowboard company currently hires 10 skilled employees who are paid a weekly wage of$1,000. The cost of capital is $3,000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard.   Should the company produce and sell it? YES/NO Explain   2(a) What core principles should be considered in the snowboard company’s decision making? Scarcity, Choice and Opportunity Cost Cost-Benefit analysis Incentive Principle Diminishing Returns Select one: All principles considered (i) only (i)and (ii) only (i), (ii) and (iii) only (ii) and (iii) only (i) and (iv) only (ii) and (iv) only (iii)and (iv) only (ii), (iii) and (iv) only

Question 2   A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.The cost of capital is $3,000 and it is fixed, which means that it does not vary with output.The company is currently producing 24 snowboards .The company's cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st  snowboard .   i) Should the company produce and sell it? (Yes or No). Explain    ii) What core principles should be considered in the snowboard company's decision making? Scarcity ,choice and opportunity cost Cost benefit analysis  Incentive principle  Diminishing returns

Give me at least 3 Research/ Thesis title about Industry based. Note can be related to Economics.

Microeconomics Each worker gets equal pay. Fill in Average Product and Marginal Product.  At what input level will Marginal Costs begin to rise?

#3 Please answer the problem Subject: engineering economics