If a restaurant can cover its variable costs during lunch operation, then in the short-run it will Select the correct answer below: stay open for lunch shut down for lunch close operations altogether none of the above
Q: If the government doubles the tax on gasoline, can you be sure that revenue from the gasoline tax…
A: If the government doubles the tax on gasoline, it does not guarantee that the revenue from the fuel…
Q: A rise in government spending on large infrastructure projects, such as a new high speed railway…
A: Government spending alludes to the aggregate sum of money that a government distributes and uses to…
Q: Question 26 Explain and analyse the alternative supply side policies available to a government AND…
A: Supply-side policies allude to a bunch of financial measures implemented by states to work on the…
Q: Compare and contrast the three roles of the World Bank and the International Monetary Fund
A: The World Bank and International monetary fund strive to maintain sustainable development and…
Q: xplain the expenditure measure of GDP. What is the underlying assumption of this measure? Provide…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: By using aggregate supply and demand curves to illustrate your points, discuss the impacts of the…
A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…
Q: The following equations describe a small economy. Figures are in millions of dollars; interest rate…
A: IS equation is determined by the good market on the other LM equation is determined by the Money…
Q: The demand and cost function for a company are estimated to be as follows: P = 100 - Q…
A: This question is about microeconomics, specifically the concepts of profit maximization and revenue…
Q: Consider the national income model below 0< ac ΟΥ Y C(Y)-I(i)- Go=0 kY + L(i) - Mso 1; al di < 0; ƏL…
A: National income models can be used to explore characteristics impacting economic expansion,…
Q: Someone at a party pulls out a $100 bill and announces that he is going to auction it off. There are…
A: To determine the number of pure-strategy Nash equilibria in this game, we need to analyze the…
Q: The survey firm of Layer, Anderson, and Pope (MAP) LLP is considering the purchase of a piece of new…
A: The following values are given in the question:
Q: Explain the market structure that a service oil company thst leases vessels and jack up barges to…
A: Market structure alludes to the organizational and competitive qualities of a market, including the…
Q: What is the term structure of interest rates and what can it tell you about the outlook for the…
A: The term structure of interest rates refers to the connection between interest rates and the time to…
Q: Suppose GDP at Market Price is $ 13500, Consumption expenditure is $1500, Government expenditure is…
A: GDP at market price = $13500Consumption expenditure = $1500Government expenditure = $500Net exports…
Q: Is the rational actor model the best way to understand foreign policy decision-making? Define the…
A: Rationality alludes to the quality or condition of being rational, which includes the ability to…
Q: DESCRIBE THE CURRENT STATE OF 2 INDICATORS [ i.e. inflation] IN THE PHILIPPINES AND HOW THEY AFFECT…
A: Economic indicators can be anything the government wishes, but particular data from government and…
Q: According to the article, what are some of the general benefits of microlending, as stated by…
A: Accessibility to financial services could prove essential for encouraging growth in the economy…
Q: Explain fully why a money economy is much more productive than an economy without money. Explain…
A: A money economy, characterized by way of the use of a widely accepted medium of change, such as…
Q: The World Economic Forum and the Global Competitiveness Index place a nation's economy into one of…
A: The development theory deals with those aspects of an economy that focuses on the overall economic…
Q: Find the Nash equilibrium in pure strategies when 1. Ben and Jerry move at the same time, not…
A: A pure strategy according to the game theory notion of Nash equilibrium, each player in a game…
Q: A decrease in the income tax rate O b. O a. increases the tax wedge. decreases potential GDP. c.…
A: Income tax refers to the tax that is imposed by the government or concerning authority on the…
Q: Which of the following is true if both the demand for and supply of oranges increase? O A. it is…
A: The demand curve is a negatively sloping curve that shows the inverse relationship between quantity…
Q: 4 Alessandra wants to sell vegetable pasty for 6$ and she achieved to sells 50 pasties. Then she…
A: If the price is rising up to $8, we can calculate the percentage change in price and determine the…
Q: 1. Here are your costs if you decide to go to college. If you decide not to go to college you can…
A: The value of alternative opportunities foregone and sacrificed to acquire one unit of a commodity is…
Q: ll of the following statements align with the post-war consensus EXCEPT Select one: O a. Capitalism…
A: The post-war consensus refers to a document that describe a broad political and social agreement…
Q: Price equals $20, quality equals 400 units, unit cost equals $15, implicit cost equals $4000. What…
A: Economic profit is the total revenue less the economic cost. Economic cost is the sum of implicit…
Q: Projective tests... O Usually involve the use of a video camera. O Are designed to measure physical…
A: Projective tests are a type of psychological assessment that involves presenting individuals with…
Q: bag contains 12 yellow balls of 400 grams each and 18 blue balls of 700 grams each. Some yellow and…
A: We have to solve simultaneous linear equations for the required value
Q: 1. What are the tools of macroeconomic policy?
A: Disclaimer- “Since you have asked multiple questions, we will solve the first question for you as…
Q: verview of International Business / Global Marketplace and business centres Evaluate the impact of…
A: Market place refers to a physical or can be a virtual place where the economic agents such as buyers…
Q: Fill in the missing values in the table of data collected in a labour force survey in October 2015…
A: Unemployment refers to the state of being without a job or occupation, typically measured as a…
Q: Suppose a particular box of macaroni and cheese cost $0.26 in 1983. What was its price in 2005…
A: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by…
Q: When we estimate B1 without controlling for X2, we derived in class that the B1 we are able to…
A: In regression analysis, bias refers to the systematic error or deviation between the estimated model…
Q: The Invisible Hand Property 2 suggests that: O profits across competitive industries will be…
A: According to Smith, when individuals and firms in a market are driven by self-interest and the…
Q: What is microeconomics and demand.
A: Microeconomics is a branch of economics that studies the economic actions of individuals in a…
Q: a. What is the value added at each stage? Stage 1: $ Stage 2: $ Stage 3: $ Stage 4: $ b. How much…
A: ***For subpart C, no information is given on the cost of the imported lumber. Without that…
Q: Question 11 A supermarket has estimated values of the income elasticity of demand for some of its…
A: Income elasticity of demand is a measure that quantifies the responsiveness of the quantity demanded…
Q: The consumer’s utility function is u(x1, x2) = 2√x1 + √(x2/4) (a) Determine the equilibrium…
A: The utility function refers to all those commodity bundles that derive the same amount of utility…
Q: a. The income-based estimate of Metrica's GDP is $1 b. The expenditure-based estimate of Metrica's…
A: Solution is given below step by step.
Q: Manisha could work for another firm making $10,000 per month, but she decides to open her own…
A: Economic profit or loss is the difference between the revenue received from the sale of an output…
Q: Question 25 Explain and analyse the difference between direct and indirect taxation AND evaluate the…
A: Taxation is the cycle by which governments gather funds from people, businesses, and different…
Q: Why should sunk costs be ignored for decisio making? Give an example of why it makes se to ignore…
A: Sunk cost refers to costs that have already been spent and cannot be recovered. These costs should…
Q: Consider the function: f(x, y) = y² − 3xy − 3y + 9x² - In the following you are asked to find and…
A: Finding the optimum solution for a given objective function while maintaining consideration-specific…
Q: How would the Fed reach this inflation target? The Fed would sell securities in an open market…
A: Fed- Fed stands for Federal Reserve system. It is the central banking system of the Country U. Its…
Q: Why is it -1000 at NVP (Beta), not -10000
A: This is mainly because of the typing error the tutor used -$1,000 instead of writing -$10,000 for…
Q: An industrial plant bought a generator set for Php 350,000.00. Other expenses including installation…
A: The declining balance method is a depreciation method that is commonly used in…
Q: The ultimatum game is a game in economic experiments. The first player (the proposer) receives a sum…
A: In the realm of game theory, a subgame perfect equilibrium (SPNE) is an enhanced version of a Nash…
Q: Fluctuations in the business cycle cause structural unemployment. Select one: True False
A: Fluctuations within the business cycle do not at once reason structural unemployment. Structural…
Q: Q5. A bicycle manufacturer in China currently employs 40 production workers and five supervisors and…
A: Marginal product:- When additional output created one more unit of an input is added to the…
Q: 2. In Almond country, farmers are experimenting with new genetically modified 'franken-bees' that…
A: Anit Bee group MC = -100 + Q Farmer's MC = Q Total bee hives in the country = 200 Damage of each bee…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- What is the total cost for this firm? (omit $ sign. Report cents as needed.) MC ATC D Quantity Price $14.00+ $12.00 $10.00 $8.00 0 1 1 I 250 300 MRDanilo and his wife operate a restaurant where they sell all their meals for $14.00 each. The markup on each meal is $5.00 and overhead expenses are 19.00% of cost. a. How much does it cost them to make each meal? $0.00 Round to the nearest cent b. What is their operating profit per meal? 50.00 Round to the nearest cent c. Calculate the break-even price. Round lo the nerert rentLaura’s cleaning service is a profit-maximising, competitive firm. Laura cleans awhole house for $156. Her total cost each day is $1680, of which $480 is a fixed cost. She cleans 8 houses a day.(a)Should Laura shutdown her business in the short-run, assuming that she cannot recover her fixed cost?(b) Should she exit in the long-run?
- Q3. Starbucks Canada to Open 150 New Outlets, Biggest Expansion Ever Financial Post February 8, 2013 Thanks in part to Target, Starbucks Canada will be undertaking the biggest expansion effort in its history this year, with plans to open more than 150 new locations across the country. . The subsidiary of Seattle-based Starbucks Corp. will open outlets inside many of the 124 Target locations opening in Canada in 2013 beginning next month – but the exact number is still a secret, Starbucks Canada president Annie Young-Scrivner said Friday. The growth is also a response to [the] company's successful bid to tap into the Canadian palate with its burgeoning Blonde roast coffee in a way that it had not before, bringing a host of new customers through its doors, she said in an interview on Friday. ... After the first nine months, Blonde grew to represent 12% of Starbucks Canada brewed coffee sales. Since the company began a sampling and marketing push last month in Canada, the lighter blend…After one month of operation, OO Café determined to shorten its business hours and close on weekends. What costs, fixed or variable, should OU Café have considered when it made the decision? Explain in detail.Ball Bearings Inc. faces costs of production as follows:Quantity Total Fixed cost Total Variable Cost0 200 01 200 502 200 703 200 904 200 1405 200 2006 200 360a. Calculate the company’s average fixed costs, average variable costs, average total costs, andmarginal costs. a. The price of a case of ball bearings is $50. Seeing that she can’t make a profit, the chiefexecutive officer (CEO) decides to shut down operations. What are the firm’s profits/losses?Was this a wise decision? Explain. b. Vaguely remembering his introductory economics course, the chief financial officer tells the CEOit is better to produce one case of ball bearings because marginal revenue equals marginal costat that quantity. What are the firm’s profits/losses at that level of production? Was this the bestdecision? Explain.
- ATC Price MC AVC 8 4 10 11 12 13 Quantity The graph shows the cost curves of a firm in a competitive industry. Assume that all frms in the industry have identical cost curves. The price in this market in the long run is S K 11/21 > o SUBMIT ANSWER 8OF 21QUESTIONS COMPLETED MacBook Pro$22 00 20.00 18.00 Which size bookstore is more likely to experience diseconomies of scale? Long-run Average cost OA Abookstore selling 1,000 books per month B. Abookstore seling 20,000 books per month C. Abookstore selling 40,000 books per month 1,000 20.000 Quantity of books sokd per month 40,00D,000 D. Abookstore seling 80,000 books per month Average costVinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: 1. Show to calculate for the table below Output TFC TVC TC AFC AVC ATC MC 0 1000 1 100 2 100 3 400 4 450 5 1600 6 3200 7 6400 a) Given the partial data available, finish the table and calculate all the costs. b) What is the minimum efficient scale of Vinnie’s company? c) What is the marginal cost of 6 houses? d) If Vinnie charges $825 per house, how many houses he should paint to maximize profits?
- Megan’s Snow Shoveling Service, in which Megan is the only employee, has the following cost schedule. Quantity(sidewalks shoveled per day) Variable Cost Total Cost AVC ATC MC 0 $0 $30 - - - 1 10 40 10 40 10 2 25 55 12.5 27.5 15 3 45 75 15 25 20 4 70 100 17.5 25 25 5 100 130 20 26 30 6 135 165 22.5 27.5 35 a) What are Megan’s fixed costs? Given the nature of sidewalk shoveling production, why does Megan’s marginal cost curve look like it does in your graph? b)Suppose the market price for shoveling a sidewalk is $20 per sidewalk. How many sidewalks will Megan shovel each day to maximize profit? c)Suppose the market price of shoveling a sidewalk rises to $25 because it has been a snowy winter. How many sidewalks will Megan shovel each day to maximize profit?Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price (P) Per Hour (Q) 0 123 456 7 8 $6.00 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 Total Cost (TC) $2.00 6.00 9.00 11.50 13.50 15.00 16.00 17.50 20.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ (Enter your response rounded to two decimal places.) Maria's maximum profit is $ (Enter your response rounded to two decimal places.) b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Per Hour (Q) (P) 0 $6.00 1 5.50 2 5.00 3 4.50 4 4.00 5 3.50 6 3.00 7 2.50 8 2.00 Total Cost (TC) $2.00 6.50 10.00 13.00 15.50 17.50 19.00 21.00 24.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ Maria's maximum profit is $ (Enter your response rounded to two decimal places.) (Enter your response rounded to two decimal places.) (Enter your b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
