A steel firm creates water pollution for a downstream fishery. The price and cost functions for steel and fish are as follows: Price of steel 30 Cost function for steel Csteel(s,x) 6s + 3s? – 20x + 2x? Price of fish 50 Cost function for fish Cfish(f,x) 20f+5f² + 14x +x? (a) How much steel (s), pollution (x) and fish (f) will the steel and fish plants produce if the are merged and act to maximize joint profit? (Maximise joint profit)
Q: Please answer ASAP and in short and. The should not be copied Global value chains(GVC) account for…
A: Introduction The cross-border connections that bring a service or product from concept to market are…
Q: Consider the labour market of Novindus characterised by the following: Firms markup over cost = 8%…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Doctors often charge patients different amounts. What implications does this have for exchange…
A: exchange efficiency also called pareto efficiency is about how to make something better by making…
Q: The Coronavirus, in March 2022, was the reason for a major shutdown of economic activity across the…
A: The economics as a study is based upon the basic idea of scarcity, where the resources which are…
Q: What is the difference between a patent and a trade secret?
A: Answer is given below
Q: After graduating from college in 2010, Art Major's starting salary is $30757.00. Suppose Art Major…
A: Answer; Salary of major in 2011 = Salary in 2010 * CPI in 2011/ CPI in 2010 =…
Q: Modified True or False: State whether each statement is true or false. If the statement is false,…
A: In long run, if price is below average total cost, it means the firm is not able to pay to its…
Q: 1. In an OLG model with money: Each gen picks 12 banans when young, 4 bananas when old. Central…
A: * ANSWER :- (1) From the given information the answer is provided below as ,
Q: our nephew and his college friends are starting a junk-hauling business. You advise them not to base…
A: In this question, nephew and his college friends are starting a junk-hauling business and in this…
Q: HL Co. is a Danao-based logistics mpany owned by Engr. Donald H. ican. Anticipating the growing mand…
A: *Answer: Step 1 The Maximax criterion is a hopeful methodology. It recommends that the…
Q: Choose the three characteristics that best describe a sole proprietorship A unlimited liability B.…
A: Answer: A sole proprietorship is a type of business entity that is owned by a single person. It is…
Q: If the price of the product sells for $1 and the Wage about the workers this firm is hiring?…
A: TP is the total product produced by the using labour input where capital is constant. TP initially…
Q: What is the role of the central bank in the financial sector and economy as a whole
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: Question 7 The cotton industry shifted from high economic profits to zero economic profits, where it…
A: In perfect the competition exit or entry in the market is open . Therefore in short run firm makes…
Q: 14. Today many Central Banks around the World are thinking of increasing interest rates. Why? What…
A: Note: We will answer the first question as the exact one was not specified. Please resubmit the…
Q: Explain why a monopolistically competitive firm switches from charging a single price to…
A: Introduction Monopoly occurs when there is only one seller of a thing. As Monopolists are fully…
Q: Table 1 The table below contains data for country A for the year 2020. **Please identify only those…
A: Gross domestic product (GDP) is a monetary estimate of the market worth of all finished products and…
Q: 74 Unit 11.2 Growing the Economy 1. Unit 11.2 Activity 1B: Physical and mental labour Discuss the…
A: Mental labor is that work in which the brain is applied for the execution of the work. Mental…
Q: How does education and central-city fiscal problems impact the housing values of a city?
A: Cities' expansion can significantly influence the local working class, particularly municipal…
Q: Methodology of The importance of international trade in economic growth of Bahrain.
A: International Trade The export and import of goods and services, capital goods, and financial…
Q: The present value of a sum of money is the amount that must be invested now, at a given rate of…
A: As given data Future worth = $10000 Interest rate = 6% Charges compounded semiannually Time = 3…
Q: 24. Consider adverse selection in the car insurance market. Drivers are either risky or safe. The…
A: Insurance refers to the financial instrument that helps people in times of emergencies such as…
Q: Explain unemployment rate.
A: Unemployment is the phenomenon which states that people who are willing and able to work are unable…
Q: Meow Chow sells cat food in a perfectly competitive market and has the following cost curves:…
A: In perfectly competitive market, there are many firms producing identical goods. Firms do not have…
Q: Which of the following is a TRUE statement about arguments for and against requiring a balanced…
A: When talking about balanced budget, it is the situation when government is spending exactly the same…
Q: e the information in the lable to answer the folowing queslions. All numbers are in bilons of 2012…
A: Given, Real GDP Consumption Planned Investment Government purchases Net…
Q: Suppose the aggregate demand and short-run aggregate supply schedules for an economy whose potential…
A: Recessionary Gap occurs when Real GDP is less than the Potential GDP. Due to recessionary gap,…
Q: explain why the centers of authority an indicator of a global city? give examples
A: Global cities are large urban agglomerations of money, enterprises, people, and infrastructure that…
Q: pu are asked to help the company "X" omputing the Loan repayment table. ODraw up the repayment table…
A: *Answer: Loan is an amount of money borrowed from a lender and is expected to repay at a future…
Q: 4.2. What is the equilibrium wage rate before immigration? How many workers would be hired? 4.3.…
A: a). Consider the given problem here the total supply of labor is “ST = 10 + 2*W” and the supply of…
Q: Suppose the government's national income and product accounts revealed the following information:
A: The total amount of income coming to a country from economic activities over the course of a year is…
Q: Suppose the Sunglasses Hut Company has a profit function given by P(q) = – 0.02q + 5q - 38 where q…
A: As given total profit function is P(q) = -0.02q2 +5q-38
Q: What is the real exchange rate, and how are fluctuations in the real exchange rate related to…
A: The product of the nominal exchange rate (for example, the dollar cost of a euro) and the price…
Q: In evaluating the present value of cultivable land, some economists include the present value of the…
A: Given a specified return rate, the present value of an investment is the current worth of that…
Q: The welfare losses or costs due to imperfect competition are known as 1. consumer surplus. 2.…
A: "In imperfect competition firms produce profit maximizing level of output which is less than the…
Q: Bo's Donuts decides to have a sale to raise revenues. Bo lowers the price of each donut by 10%.…
A: Price elasticity of demand measures the responsiveness of change in quantity demand to change in…
Q: Price Level Aggregate Demand Aggregate Supply 200 10,000 4,000 300 9,000 6,000 400 8,000 8,000 500…
A: Answer; Option (c) 7,000 is correct answer
Q: Identify the ways to measure economic performance.
A: Economic Performance of an entire economy is based on various factors.
Q: Recently, gas prices have soared across the capital region. When the average gas price rose from…
A: The measure that depicts the change in quantity being demanded of a good or service with respect to…
Q: [Q#7c] Given the answers to the previous two questions, and the M3 money supply soaring to $21…
A: Fed increases the money supply by purchasing securities and bonds in the financial market. As the…
Q: 7. You are hoping to put down $3000 on a car in 2 years. If the bank pays 4% interest, compounded…
A: FV = 3000 Interest rate = 4% compounded monthly time = 2 Years
Q: 4-11. Consider the production function Y = X" X}". Px, = $1 and P = $2. How many units of X, and X,…
A: For finding out the units of X1 and X2, we will use equilibrium condition. At equilibrium, ratio of…
Q: Meow Chow sells cat food in a perfectly competitive market and has the following cost curves:…
A: Perfectly competitive market: - it is a market condition where there are many buyers and many…
Q: Is the dynamics of the Law of Contract as per the civil code a myth with relation to a business…
A: The article also summarises the laws governing employment interactions, such as redundancies and…
Q: How does Increase or decrease in wage affect hours of work
A: Wages are a form of factor income which are paid to the workers for the services provided by them.…
Q: Complete the following table by indicating which bundles Susan strictly prefers to A given only the…
A: Indifference curve shows the combination of two goods that yield the same level of satisfaction to a…
Q: the third unit should not be produced. the third unit should be produced. zero units should be…
A: Public good is defined as a good or service which can be utilized by each and every person of the…
Q: assuming interest rates of 5% per annum? (b) The demand and supply functions of a good are given by…
A: Market equilibrium is rye point where price is determined at which certain quantity is demanded and…
Q: Give an exmple of External Rate of Return (ERR) with complete solution and diagram.
A: Internal Rate of Return The interest rate at which the present value of all of the project's…
Q: Suppose the Board of Directors of the local symphony proposes that the admission price for an…
A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- DrivingNowhere is producing automobile spare parts. Consider the following data to answer below given questions. Annual demand 30500 Daily demand 100 Daily production 800 Desired lot size 200 Holding cost per uit per year $10 (a) Compute the setup cost so as to comply with the desired lot size. (b) Compute the setup time if hourly setup labor cost is $40.What is the nature product offered by a monoply?warten population manghe ecosystem's Carrying capacity? 6. We have the following data for Demand Price and Costs for our product. Quantity Demand Price Costs 300 100 $21.63 $35.35 $5040.00 $2347.67 500 $17.25 $7481.67 1000 $12.70 $12469.67 1500 $10.26 $16196.00 We have reason to believe that the Demand Price is a power (exponential) function of some kind. Our Cost function is close to linear, but we expect, from some market analysis, that it is in fact quadratic. Approximate this data with a Demand Price function and a Cost function. Explain how confident you are; that is, how much error do you think is reasonable in this type of scenario? 区
- PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC socialPrice and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150
- (a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? MC S/lice ATC AVe 2.50 1.40 slices/day S70(a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? MC S/slice ATC AVC 2.50 1.40 slices/day 570PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Lakes's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Mountaineer (Dollars per night) 350 150 50 100 200 ? For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Lakes is charging $350 per room per night. If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Lakes rooms per night to rooms per night. Therefore, the income elasticity of demand is from , meaning that hotel rooms at the Lakes are If the price of an airline ticket from DSM to ACY were to increase by 50%, from $100 to $150 roundtrip, while all other demand factors remain at their initial values,…
- The graph below shows the market for mandarin oranges in Odin for the month of November (in thousands of kilos). 1 6 5 X 4 3 2 450 750 10501200¹ 1350 300 600 900 Quantity per month Price 8 7 DS 0 150 Tools D₂ S2Blair has since joined the “speaker circuit,” lecturing on ethics under the title “Lessons Learned.” Is it ethical tomake money from lecturing on your own unethical behavior? Why or why not?D. Pollution problem You know the marginal cost of reducing pollution for four factories. Each unit of pollution can be eliminated according to the following marginal costs. A B C D First Unit $65 $15 $30 $10 Second Unit $75 $55 $65 $30 Third Unit $85 $85 $110 $40 Fourth Unit $120 $155 $120 $60 1. The total cost of Firm D eliminating 4 units of pollution 2. Determine the total cost of each firm eliminating one unit of production. 3. The community has decided that the managers of the firms are allowed to produce a total of 4 units of production. Identify the firm(s) that will pollute.