Suppose in the short run a perfectly competitive firm has the total cost function: TC(Q)=675 + 3q2 where q is the firm's quantity of output. If the market price is P=240, how much profit will this firm earn if it maximizes its profit?
b) how much profit will this firm make?
c) Given your answer to b), what will happen to the market price as we move from the short run
to the long run?
d) What is the break-even price for this market?
In: Economics
What is the difference between minimum total cost and short-range profit maximization policies in system design?
In: Operations Management
On January 1, 2011, Courier Inc. purchased new equipment that had a total cost (including shipping and installation) of $81,000. The equipment is expected to have a useful life of four years or produce a total of 121,000 units. At the end of its life, the equipment is expected to have a residual value of $4,600. The equipment is expected to produce 22,990 units in 2011; 32,670 units in 2012; and 35,090 units in 2013; and 30,250 units in 2014. Courier Inc.'s fiscal year ends on December 31.
In the table below, fill in the missing depreciation expense and accumulated depreciation amounts using the straight-line, double-declining-balance, and units-of-production methods. Do not round your intermediate calculation. When required, round your answers to the nearest dollar.
| Cost $81,000 |
Depreciation Expense |
Accumulated Depreciation |
||||
Year |
Straight-line Method |
Double- Declining- Balance Method |
Unit-of- Production Method |
Straight-line Method |
Double- Declining- Balance Method |
Unit-of- Production Method |
| 2011 | $ | $40,500 | $14,516 | $19,100 | $40,500 | $14,516 |
| 2012 | $19,100 | $ | $20,628 | $ | $60,750 | $35,144 |
| 2013 | $19,100 | $10,125 | $ | $57,300 | $ | $57,300 |
| 2014 | $19,100 | $5,525 | $19,100 | $76,400 | $76,400 | $ |
In: Accounting
If the moment generating function is Mx(t) = 1/(1-10t) for t near 0
whats the pdf, mean, and variance with steps please want to understand
In: Statistics and Probability
If I have a positively charged surface and bring it near to a plasma, what would happen? Will both the electrons and protons behave in the same way? (compare their accelerations).
In: Physics
For the following exercises, make tables to show the behavior of the function near the vertical asymptote and reflecting the horizontal asymptote.
f(x) = 1/x -0 2
In: Advanced Math
What is the current status of the IASB Conceptual Framework? Please provide background, recent developments, current status, and anticipated activities both near and long-term.
In: Accounting
Suppose consumers spent $42 million on Christmas trees last year, when the average tree cost was $30. This year they spend $42 million, when the average tree costs $25. Assume that everything else remains constant. This data suggests that:
Select one:
a.
the demand for trees is inelastic.
b.
total revenue to tree producers rose this year.
c.
consumers bought the same number of Christmas trees this year as last year.
d.
the price of the Christmas trees stayed the same.
e.
the demand for trees is unit elastic.
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Which of the following is likely to increase the supply of wheat?
Select one:
a.
A decrease in the price of corn
b.
An increase in the cost of fertilizer
c.
An increase in land prices
d.
A decrease in the price of bread
e.
An expectation that the price of wheat will be higher in near future
Question 9
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The figure below shows the cost and revenue curves for a monopolist. The deadweight loss arising under the monopoly is represented by the area:
Figure 9.8
Select one:
a.
eda.
b.
dafc.
c.
abf.
d.
ecf.
e.
dabc.
Question 10
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Which of the following goods will have a higher price elasticity of demand?
Select one:
a.
A good that represents a small proportion of the consumer’s budget.
b.
A good that is a necessity.
c.
A good with few substitutes.
d.
A good that is broadly defined.
e.
A good with many substitutes.
In: Economics
From the following information on costs of production of the ABC
corporation, calculate a) Total Fixed Cost (TFC), Total Varibale
Cost (TVC), Average Fixed Cost (AFC), Average Variable Cost (AVC),
Average Total Cost (ATC), and Marginal Cost (MC).
Quantity Produced | Total Cost | Total Fixed Cost (TFC) | Total Variable Cost (TVC) | Average Fixed Cost (AFC) | Average Variable Cost (AVC) | Average Total Cost (ATC) | Marginal Cost (MC) |
0 | $120 | $120 | - | - | - | - | |
1 | 135 | $135 | |||||
2 | 149 | 74.5 | |||||
3 | 162 | 54 | |||||
4 | 174 | 43.5 | |||||
5 | 188 | 37.6 | |||||
6 | 204 | 34 | |||||
7 | 224 | 32 | |||||
8 | 247 | 30.9 | |||||
9 | 275 | 30.5 |
Graph the average fixed cost (AFC), average variable cost (AVC),
average total cost ATC), and the marginal cost (MC) curves on one
graph and TFC curve, TVC cost curve, and TC curve on another
graph.
In: Economics
The oil company located near Germany wants to install a new pipeline to connect a storage tank to an existing pump 1,000 feet away. Three possible diameters are being considered to make the pipeline, the related costs of which are presented below:
The company is presumed to apply a 10% interest rate on its projects. Both maintenance and the annual cost of pumping are considered as expenses that occur at the end of the year (conventional flows).
For what number of pumping hours per year will the 4 and 6 inch pipelines be equally economical?
You must show in detail how you got your result. It is important that you submit the relevant evidence (cash flow equations, Excel, photo, etc.) in the link provided by this question for correction.
| Pipeline diameter |
4 pulg. |
6 pulg. |
8 pulg. |
|
Initial cost |
$2,000 |
$3,000 |
$4,000 |
| Maintenance cost / year |
600 |
500 |
400 |
| Cost of pumping per hour |
2.70 |
1.30 |
1.00 |
| Residual value |
100 |
150 |
300 |
| Useful life (years) |
10 |
10 |
10 |
In: Accounting