Question
In: Economics
A B C PRODUCT PRICE LARGE SCREEN 100 110 120 $12 MED SCREEN 70 60 $10...
|
A |
B |
C |
PRODUCT PRICE |
|
|
LARGE SCREEN |
100 |
110 |
120 |
$12 |
|
MED SCREEN |
70 |
60 |
$10 |
|
|
SMALL SCREEN |
50 |
40 |
30 |
$8 |
Please answer the next 6 questions based on the information provided in the table above for a profit-maximizing firm producing HD TVs. Any of the three output combinations of HD TVs can be produced for the same cost. And to produce any one of the combinations requires that the firm operate at full capacity. The profit associated with combination A is $300. The revenue generated from C is $2,180.
- The profit generated by producing combination C is _____ dollars.
- The revenue generated by producing combination B is _____ dollars.
- The cost of producing combination B is ______ dollars.
- This firm will earn a profit of_____ dollars.
- How many Large Screen tvs will this firm produce? _______
- If the product price of a large screen TV increases by $5, ceteris paribus, then this firm will earn a profit of _____ dollars.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
100 80 55 105 60 85 30 23 100 110 105 95 105 60 110 120...
100 80 55 105 60 85 30 23 100 110 105 95 105 60 110 120 95 90 60
70
mean = 82.9
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65
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134
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64
mean = 91.5
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120
$12
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50
$15
40
$20
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3) Real economic growth
4) Give reasons why Real GDP per capita may overstate the
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make as per Canadian standards.
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100
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120
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Using 2017 as a base year, calculate;
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Price
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Meat
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$10
120
$12
Potatoes
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$2
180
$3
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70-79 15
80-89 10
90-99 2
100-109 1
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Combination
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A
180
0
B
150
10
C
120
20
D
60
30
E
30
40
F
0
50
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Select one:
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B. 5
C. 7
D. 9
E. 11
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(A)
(B)
(C)
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Price Level
Real GDP
110
290
100
215
110
240
100
265
100
240
100
240
95
240
100
265
95
240
90
215
100
290
90
240
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a. E
b. B
c. D
d. C
e. A
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