The following table shows some cost data for Lin’s Fortune Cookies, which operates in perfect competition.MC $ 84.00 $ 51.00 $ 135.00 $ 51.00 $ 56.00 $ 47.50 $ 103.50 $ 37.00 $ 42.00 $ 44.00 $ 86.00 $ 33.50 $ 33.60 $ 41.50 $ 75.10 $ 29.00 $ 28.00 $ 39.00 $ 67.00 $ 26.50 $ 24.00 $ 37.50 $ 61.50 $ 27.00 $ […]
Which of the following statements below support how revenues of the relevant firms would change given the following events: Oil well in Eastern Pennsylvania close because of environmental violations reducing the annual revenue to drillers in eastern Pensylvania but a war in the Middle east shuts down oil wells across the entire Middle East and raises the revenue of Non Middle Eastern Producers. Statements: The […]
The Wilson Corporation produces output according to Q = 4(KL)^1/2 where K is the amount of capital used and L is the amount of labor employed. If capital costs $2 per unit and labor costs $8 per unit, Wilson’s minimized long run average total cost is $2. $2Q. $10. $10Q. Can I get the answer and explanations?
Suppose that the long-run total cost of producing y hundred bushels of corn on an acre of land is c(y) =(1 +y2)for y>0 and c(0) =0. a. Write down a formula for the long-run average cost function per hundred bushels of corn from an acre of land. b. At what level of output is long-run average cost minimized on an acre of land? Hint: The […]
Does the overvaluation (undervaluation) of As currency reflect a major capital inflow (outflow) into the country? What can you find with respect to the financial account of the balance of payments to substantiate that interpretation?
Let’s explore the business of Farmer Ted. The farmer has two fixed inputs that he owns: A tractor, which Ted can rent out for $24000 per year if he doesn’tThe output of the farm per year depends on the quantity of labor hired per year in the following way: 10 107,000a) Calculate the Marginal Product and find at what level of labor diminishing returns sets […]
6,000 ordinary shares of Sh.100 per value were issued at a premium on 1 March 2001. Revenue reserves of Pivot Ltd. as at 31 December 2000 were Sh.948,000 Revenue reserves of Pivot Ltd as at 31 December 2001 were Sh.1,680,000. Required: A statement of cash flow using the direct method, including a reconciliation of the profit for the year with cash from operations (15 marks) […]
Using either a graph or table use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced? Using either a graph or table use two goods […]
How Many Book Stores? The city of Bookburg initially allows one book store, which sells books at a price of $20 and an average cost of $11. Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the market. According to an expert in the music market, “Each additional music store will decrease the price of books by $2 per book […]
Discuss the relationship of politics to economy and compare both views with capitalism and socialism using China and the United States as examples. I am trying to write two pages double spaced and using 2 sources but having trouble answering both of the questions. Thank you!
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