What is the total cost and average cost when marginal cost is 120, fixed cost is 25, total revenue is 240, average revenue is 40, and marginal revenue is 40.

Q: Suppose Abercrombie & Fitch sells clothing in a monopolistically competitive market and that a…

A: In economics, perfect competition is a hypothetical market structure in which all firms sell…

Q: If the size of the underground economy is large,   A. it is relatively easy to gather productivity…

A: Gross domestic product is the summation of a country's final goods and services. The increase in GDP…

Q: 2. With that same model, what is the multiplier on +? (When I increases by I, what is the change in…

A: Consumption function:It is a relationship between consumption the income. As income increases,…

Q: Ambrose has indifference curves with the equation, x₂= constant-4x, where larger constants…

A: The indifference curve equation is given as The higher the constant value, the higher is the…

Q: Review the recent economic shock in China’s real estate sector and analyse the effects on the…

A: The Asian economy distinguishes out due to its rapid expansion, intellectual discoveries, and…

Q: Directions: As you read through the senior below, please identify all sources of revenue for the…

A: Tax:Tax is the money paid to the government by the people of the country, This tax is the income of…

Q: The purchase of a used pickup for $22,000 is being considered. Records for other vehicles show that…

A: Annual cost of owning and operating the truck:Fuel cost = $1950Oil, tires, and repairs cost =…

Q: Calculate the marginal revenue for the following: (a) i. ii. Total Revenue (Q) = 5Q³ + 3√√ 2 loge (1…

A: Marginal revenue (MR) represents the change in total revenue that results from selling one…

Q: Look at the next information of the pharmaceutical market and find the 4 firms concentration ration.…

A: The performance level of a firm influences their overall share in the market. It can attract more…

Q: Each year the United States considers renewal of Most Favored Nation (MFN) trading status with…

A: Dominant strategy is the course of action that results in the highest payoff for a player regardless…

Q: Fiat money is money: a. accepted by law regardless of its intrinsic value. b. C. d. that is not…

A: Fiat money refers to those currencies which are backed by the government and not supported or backed…

Q: Premium (thousands of dollars per year a $80 million. $160 billion. $80 billion. $160 million. K 12…

A: Introduction:To determine the taxpayer contribution to public health insurance, we will use a…

Q: How much would price change if two firms with identical total cost functions TC = 80Qi move from…

A: In Cournot duopoly, two firms compete in a market by simultaneously choosing the quantity of goods…

Q: At output Q₂2 and price P2, which of the following is TRUE? OA. The firm suffers some diseconomies…

A: The study and analysis of commercial difficulties impacting businesses using abstract economic…

Q: BN10.D What does Non-Rivalry mean in the context of Public Goods?

A: Public goods are goods or services that are both non-rivalrous (use by one indiviual doesn't reduce…

Q: the government has imposed an indirect tax on good A and the coefficient of the price elasticity of…

A: The objective of the question is to understand the impact of an indirect tax on a good with a price…

Q: Classify each of the following as a rival or nonrival good and as an exclusive or nonexclusive good.…

A: Economic Goods:Economic goods are in limited supply and have a price attached to them. Vehicles,…

Q: Which of the following factors would cause the break-even point to change? a) Fixed operating costs…

A: The objective of this question is to identify which factors would cause the break-even point to…

Q: dowment with respect to the economy's average, such that -# h Show that relative human capital of…

A: The question provides an equation (4) for the evolution of the relative human capital of household…

Q: Problem 2 Six years ago, an 80-kW diesel-electric set cost $160,000. The cost index for this class…

A: Given:Cost of the 80-kW unit six years ago: $160,000Cost index six years ago: 187Cost index now:…

Q: Userif X represents a random variable coming from a normal distribution with mean 5 and it P(X >…

A: A type of probability distribution also known by the name Gaussian distribution. A symmetrical…

Q: Scenario 3: The demand curve and marginal revenue curve for red herrings are given as follows: Q =…

A: The firm will produce where the marginal revenue is equal to marginal cost to maximize its profit.…

Q: Suppose firms become very optimistic about future business conditions and invest heavily in new…

A: Investment expenditure, also referred to as gross private domestic investment, encompasses the…

Q: Price 600 1200 300 900 $26- 24- 22- 20- 18- 16- 14 12- 10- 8 6- 4- 2- 0 200 400 600 800 1000…

A: When the world price is below the domestic price for an item, foreign nation have a comparative…

Q: Suppose that there are two competing types of high-definition DVD players, Greenbeam and Mosdef, and…

A: Profit maximization is the interaction by which an organization means to accomplish the most…

Q: 1. Betty consumes two goods, apples and bananas, and is maximizing her utility. Explain with a graph…

A: Utility refers to the satisfaction or benefit that an individual derives from consuming a good or…

Q: The firm can use two inputs, L and K. The price of L= 20 and price of K = 30. Total cost- 300. As…

A: An isocost line represents all combinations of two inputs (in this case labor, and capital) that…

Q: Discuss the fiscal policy measures adopted by the government in the last two years. Evaluate the…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Find the Marginal efficiency of capital if the Prospective yield is $600 the supply price is $280 in…

A: MEC ealludes to the normal productivity of a capital resource. It could be characterized as the most…

Q: a. What is the maximum price that a consumer is willing to pay for the 200th sandwich? 2 b. What is…

A: This can be defined as a concept that shows the summation of the surplus of both parties that…

Q: If the world price of shoes is $50/pair, how many pairs of shoes will be produced in the U.S.? How…

A: The US market is experiencing an equilibrium at price $100, where the demand rate is 40 million…

Q: The data in the above table indicate that the unemployment rate is at the natura rate of…

A: The long-run aggregate supply curve depicts the potential level output of the country that can be…

Q: Define al competitive equilibrium for this economy.

A: When an economy's labor and capital markets, as well as its supply and demand markets, are in…

Q: The government spends an additional $668 billion and the marginal propensity to consume is 79%. How…

A: Government spending multiplier: - it is a fraction that shows the magnitude of the change in…

Q: Which of the following statements is false? O The Marshallian demand curve will only slope downwards…

A: A Giffen good is a type of inferior good for which the quantity demanded increases as its price…

Q: 1. The KaChi AG produces potato chips in different flavors. The following table shows when and which…

A: FIFO, or First In First Out, is an inventory valuation method that assumes that the first goods…

Q: Mort consumes only beer and sausages. His income is $100. Beer costs him $0.50 per can and sausages…

A: Utility maximization refers to the process where individuals aim to allocate their resources in a…

Q: Provide an example demonstrating how government borrowing today can potentially harm future…

A: Debt:Debt is a financial obligation that a person has when he asks for a loan from a creditor. Debt…

Q: Congress increases personal income tax rates to balance the budget. Automatic stabilizers will the…

A: Economic tools known as automatic stabilizers work automatically to offset changes in the state of…

Q: Which of the following statements is true? a. A company can manipulate uncontrollable factors to…

A: This question spins around the central comprehension of an organization's capacity to impact factors…

Q: BN8.2 Why don't Cities charge each Individual their Marginal Benefit (MB) to distribute Public…

A: Public goods are prone to market failure because their non-excludable and non-rivalrous nature makes…

Q: Refer to the consumption function graph above. How much is the MPC at the disposable income of $200?…

A: Marginal propensity to consumer refers to the proportion of an income that is spent on consumption…

Q: O 100.10 O 60.20 O 75.15 O 80.30 Question 26 Figure 1: Sequential Games) Use backwards induction to…

A: Nash equilibrium is a situation where no player has an incentive to deviate from the strategy of…

Q: The following table lists balance of payment current accounts for Country A. Current Accounts 1.…

A: Exports of goods, services, and income: $171,453Goods: $93,043Services: $46,689Income receipts on…

Q: Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may…

A: The GDP is a comprehensive indicator of a nation's overall economic production during a given time…

Q: For problem 1 and 2, consider the following game : C D A (0,5) (5,-5) B (3, 1) (1, 0) 1. Show that…

A: There are two players : { Player 1 , Player 2 }Strategy Set :  { A , B }Strategy Set : { C ,B }…

Q: The table below reports production and cost data for a local bakery. Workers 1 2 3 4 5 6 7 8 9 10…

A: Competitive firm is one kind of firm which competes with another firm but with identical goods and…

Q: Price $240 $220 $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 S-MC-MC MB 6 4 6 4 4 4 5 %% Quantity…

A: Marginal benefit is the gain earned by consumers by additional buying of goods. By buying more the…

Q: LAS 100 90 XXX 80 70 60 AD 110 0 320 360 400 440 480 520 Real GDP (billions of 2007 dollars) SAS…

A: The Gross domestic product is  a country's final value of goods and services in a year. GDP is a…

Q: In period t, a parental household (indexed by i) equipped with human capital hi earns a labour…

A: Utility FunctionBudget ConstraintHousehold Income - Cost of educating children =