Suppose that Alexi and Tony can sell all their street tacos for $3.50 each and all their Cuban sandwiches for $3.50 each. Suppose each of them works 20 hours per week and they decide to completely specialize. That is, Alexi will spend all 20 hours on production of one good, and Tony will spend all 20 hours on production of the other good. How will they spend their time? Tony will spend 20 hours on the production of street tacos. Alexi will spend 20 hours on the production of Cuban sandwiches Tony will specialize in street taco production and earn $ Alexi will specialize in Cuban sandwich production and eam S Their maximum joint revenue is per week
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- From the article: "The Centers for Disease Control and Prevention said..that keeping middle seats open [on airline flights] could sharply reduce the risk of exposure to the [Covid-19] virus." If tickets for all middle seats on a flight from Denver to Chicago are not sold: A - the fixed cost of the flight from Denver to Chicago would be less than if tickets for middle seats were sold. B - the profit from the flight from Denver to Chicago would be greater than if all tickets were sold. C - the airline selling the tickets would not be able to make a profit from this flight. D - passengers' willingness to pay for the other seats on the flight would decrease. E - the fixed cost of the flight from Denver to Chicago would not change.E. Only E. ASAP.10:43 A docs.google.com Your answer Syukri, Iqmal and Amir run the only shop in Wang Ulu. They sell electrical goods such as televisions, washing machines, etc. However, their objectives are different from each other. Syukri wants to make as much profit as he can, Iqmal wants to sell as many goods as he can without losing money, and Amir wants to earn as much revenue as he can. The graph below illustrates their respective profits. (Note: The length of each square on the Y-axis represents RM100, and the length of each square on the X-axis represents 100 units.) What is the quantity for Syukri? Revenue, Cost MC AC Quantity 100 200 300
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- 34. Which one would have the greatest effect< The accompanying table shows the total daily output for a firm producing specialty cakes and operating with a fixed amount of capital. The cost of labour is $100 per unit per day and the fixed cost of the capital is $2000 per day. Click the icon to view the table. a. Using the information provided, compute all of the short-run costs for this firm and complete the table. Remember to record the marginal costs between the rows indicating total cost. Complete the third, fourth, and fifth columns of the table. Units of Labour Total Output (per day) (per day) 100 20 40 60 80 100 120 140 40 60 300 80 800 1370 1570 1630 1670 300 800 TFC $2000 1370 $ 2000 $ 2000 TVC $2000 Complete the last four columns of the table. Units of Labour (per day) Total Output (per day) 20 100 $ 4000 $ 6000 $ 2000 $ 8000 $2000 $10000 TFC TC $ 4000 $6000 TVC $ 8000 2000 $12000 $14000 $10000 $2000 $14000 $16000 $12000 TC MC MC $10 4 $3.50 $10 4 AFC AFC $20 $2.5 AVC $6.67 $ 13.33 $ 1.46 AVC $20 $7.5 $5.84 ATC ATC $40…. When Chinese automakers began exporting cars, rather thanfocusing on developed nations in the West, they shippedautos to emerging markets in countries such as Algeria, Russia,Chile, and South Africa. In these markets, even used vehiclesfrom multinational manufacturers are relatively scarce—andrelatively expensive. The Chinese automakers, who prioritizelow cost rather than design or even safety, applied a penetration-pricing strategy. A woman in Santiago, Chile, who boughta new Chery S21 explained, “The price factor is fairly decisive.I paid $5,500 new and full. Toyota with similar features costsaround $12,000.” Why do you think Chinese automakerschose that pricing strategy? Do you think it was successful?As Chinese regulators pressure these manufacturers to maketheir cars safer, do you think they will be able to keep theirprices low compared with those of the international automakers? Why or why not?26
- Don't answer by pen paper and don't use chatgpt otherwise we will give dounvoteAnswer both please otherwise we will give dounvoteQuantity (in gallons) Total Price Revenue $8 $0 50 7 350 100 600 150 750 200 4 800 250 3 750 300 600 350 1 350 400 Imagine a small town in a remote area where only two residents, Maria and Miguel, own dairies that produce milk. Their respective dairies are equal in size. Each week Maria and Miguel work together to decide how many gallons of milk to produce and what price to charge. To keep things simple, suppose that Maria and Miguel can produce as much milk as they want without cost so that the marginal cost is zero and there are no fixed costs. The weekly town demand schedule and total revenue schedule for milk is shown in the table above. Suppose the town enacts new antitrust laws that prohibit Maria and Miguel from operating as a cartel. Assuming that each producer can only modify quantity in increments of 50, which of the following is consistent with the Nash equilibrium for this scenario? Maria will charge a price of $5 for each gallon. Miguel will sell 100 gallons. Milk will…