With the evolution of the role of technology, why do major economic variables like perceived value, willingness to pay, human roles in production and usages, human engagement in usages, production and consumption level, revenue, and jobs keep changing? Take the example of the evolution of transportation and healthcare service to clarify your explanations. How will self-driving cars likely cause discontinuity in the trends of those major variables in the transportation industry?

A university is trying to determine what price to charge for tickets to football games. At a price of ​$27 per​ ticket, attendance averages 40,000 people per game. Every decrease of ​$33 adds 10,000 people to the average number. Every person at the game spends an average of ​$4.50 on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price?

Consider a firm with total costs represented by TC=8+1/2Q²

^{and a corresponding marginal cost of Q(MC=Q)}

^{1) Graph the ATC and MC, be certain to label the lowest point of the ATC}

Consider that the firm faces a price of $10

2) Find the optimal quantity

3) Using the ATC/MC graph, find and diagram, the total cost, total revenue, and any profit or loss at the optimal quantity.

1.What is a natural monopoly? Explain with a graph how a regulated natural monopoly sets its price.   

2.Draw a graph that shows a monopoly firm making economic profit in the short run. Be sure your diagram includes the monopolist’s demand, marginal revenue, average total cost, and marginal cost curves. Be sure to indicate the profit maximizing output and price. Are these profits sustainable in the long run?   

The following information relates to SFS Co . for the year 2020. SFS, Capital, January 1, 2020……. $ 48,000

Advertising expense.. $ 1,800

SFS, Drawings, during 2020………… 7,000

Rent expense ………12,000

Service revenue …………………………………67,000 ………

Utilities expense……. 3,100

Salaries expense…………………………………. 30,000

Instructions After analyzing the data, prepare an income statement and an owner’s equity statement for the year ending December 31, 2020.

1. A disk drive manufacturer sells storage devices with capacities of one terabyte, 500 gigabytes, and 100 gigabytes with probabilities 0.5, 0.3, and 0.2, respectively. The revenues associated with the sales in that year are estimated to be $50 million, $25 million, and $10 million, respectively.

Let X denote the estimated revenue of storage devices during that year. Determine the probability mass function of X, E(X), and Var(X).

During the current Covid-19 crisis, some firms are still producers, but many are shutting down (setting Q = 0) temporarily, because if the marginal revenue (MR) is just their good or service's market price (P): a. is less than the average variable cost. b. is greater than the average fixed cost. c, s considerably greater than marginal cost. d, is higher than their competitor's price.

Q: If you use an end-of-period spreadsheet (work sheet), why do you still have to prepare the financial statements? Isn’t all the information the user needs on the spreadsheet?

Q: Why do we use the income summary account each month to clear out the revenue and expense accounts?

Q: Does anyone make manual entries anymore or even keep a manual set of books?

A company began work in 2020 on a contract for $7,800. Other data are as follows:

If the company uses the percentage-of-completion method, for the journal entry that records construction revenue, construction expense, and gross profit for 2020, how much will be recorded for Construction in Process?