9. Suppose that the total benefit derived from a given decision Q is: B(Q)=25Q - Q² and the corresponding total cost is: C(Q) = 5+Q² a. MB (Q) = b. MC(Q) = c. What is the total benefit when Q-2? Q-10? d. What is the marginal benefit when Q-2? Q-10? e. What level of Q maximizes total benefits? f. What is the total cost when Q-2? Q-10? g. What is the marginal cost when Q-2? Q-10? h. What level of Q minimizes total cost? i. What level of Q maximizes net benefits?
Q: Dina's Diner only produces sliders and hot wings. Can you explain the opportunity cost pattern as…
A: Opportunity cost measures the decrease in the production of one good due to an increase in the…
Q: The demand for office chairs in thousands is Q=40-2 P2 At a price of $2, the price elasticity of…
A: The elasticity of demand tells us the responsiveness of quantity demanded with respect to the price…
Q: The following graph shows an aggregate demand (AD) curve and a short-run aggregate supply (SRAS)…
A: Answer: (1). If the economy experience a decrease in wage rate means the cost of production will…
Q: Discuss economic, institutional-governmental and social environment variables of the…
A: The term "macro environment" refers to the more widespread conditions that can have an effect on a…
Q: Consider the market for chocolate chip cookies where the supply is very price elastic which means…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Who is responsible for setting monetary policy in the United States? How is this group chosen
A: We know that Monetary Policy is a macroeconomic stabilization policy that is used by the central…
Q: 1. What is the annual rate of interest if P265 is earned in four months on an investment of P15,000?…
A: The application of economic principles and calculations to engineering projects is known as…
Q: Price ($) 6 5 4 3 2 1 ISI ID In Figure 3, B) Is $2.50 a price ceiling or a price floor? C) Is there…
A: A price floor is a base cost at which an item or administration is allowed to sell. Numerous rural…
Q: Consider an economy with two producers, Sidney and Connor. Each allocates 8 hours per day between…
A: This is the case of international trade. In the international trade, there is two types of…
Q: F(K, L) = AK¹/21/2 The capital and labor supply are equal to 100 each, A=10, G = 200 and T = 200.…
A: # Consumption: C = 90 + 0.7(Y-T) # Investment: I = 250 - 20r # Production function: Y = AK1/2L1/2 #…
Q: Which of the diagrams illustrates the effect of an increase in automobile worker wages on the market…
A: The concept behind this question is the input prices and cost of production. When input prices…
Q: Local party organizations O have more power than their western European counterparts. O are…
A: In electoral process the political parties are at the national, state, and local levels. Local…
Q: Which of the following statements describe correct patterns for total and marginal utilities?…
A: Relationship between TU and MU 1) Tu increase at Diminishing rate when consumption of the commodity…
Q: In a standard economic model, we generally assume the individual only cares about their own payoff.…
A: A variation of the ultimatum game called the dictator game has one player (the proposer) make a…
Q: With regards to PESTLE, focus on and answer the economical factor with regards to the brand Knorr…
A: Some of the key economic factors that could affect Knorr from South Africa would include inflation,…
Q: If the price elasticity of demand for gasoline equals 0.3, then qn increase in the price of a gallon…
A: Price elasticity of demand The quantity requested sensitivity to price is gauged by the price…
Q: Mr. Cruz borrowed P50,000.00 with interest at the rate of 15% payable annually. The debt will be…
A: Present value of annuity factor can be calculated using the following formula: r = interest rate n…
Q: . Between January 1999 and January 2000, the cost of long grain rice produced in the United States…
A: The supply elasticity describes how responsive the supply is to changes in the price level. In…
Q: In the simple circular-flow diagram, in which market are households sellers? the factors of…
A: Introduction Circular flow of income refers to the cycle of generation of income in the production…
Q: Assuming the market equilibrium price for wheat is $5 per bushel, draw the total revenue and the…
A: In economics, total revenue refers to all proceeds from the sale of a specific amount of goods or…
Q: In the midst of the COVID19 pandemic, what happened to the law of demand? Please consider the…
A: Law of Demand: According to the Law of Demand, as a commodity's price rises, so does the quantity…
Q: Cristina borrowed P50,000.00 from Social Security System in the form of calamity loan, with interest…
A: The application of economic principles and calculations to engineering projects is known as…
Q: 1. Analyze the given assumptions very well and perform what is asked in each problem. Basic algebra…
A: Qx = 30 - 2Px + 8M + 1.5Pr Qx = the quantity demanded good xPx = the price of good X M = the average…
Q: In light of Adam Smith, Ricardo, and Say, please explain the classical political economy perspective…
A: The market mechanism is viewed from the perspective of classical political economy as a…
Q: sa credit card interest rate cap an example of a price ceiling or price floor? A. Price Ceiling OB.…
A: Price ceiling means maximum price or price or rate can rise above this limit. Floor price is minimum…
Q: d. e. نبع f. If society is currently producing alternative B, then the opportunity cost of moving to…
A: Opportunity cost alludes to what you need to surrender to purchase what you need regarding different…
Q: What is the present worth of a perpetuity of P10,000 annually if money is worth 10% compounded…
A: To find the present worth of annual perpetuity payments we use the formula of Capitalized Cost but…
Q: how does current independent contracting affect the future of the labor market?
A: The labor market, otherwise called the job market, alludes to the stock of and interest for work, in…
Q: Plot a graph of FW versus MARR, where MARR varies from 0 percent to 50 percent by 1 percent…
A: Future Worth refers to the compounded value of the cash flow in a distant future when discounting is…
Q: Explain why the utility curves cannot be drawn so as to induce the worker to work between L1 and L2…
A: it is given that, in the question, 1.)L is the number of hours worked per year.2.) ¯I is the income…
Q: The amount of exercise that one gets is an important factor in the determination of his general…
A: Introduction Positive statement deals with what is and how the economic problems are actually…
Q: An individual makes six annual deposits of $2,000 in a savings account that pays interest at a…
A: Given To solve the given problem, we need a cash flow diagram. There are six annual deposits of…
Q: 3. Which point is much better?* O A, B,D, & F О A&B OE O C O A&D E Good X
A: The production possibility curve depicts various pairings of two items that can be produced in the…
Q: 1. Consider the following production function: Y=F(K, L) = A(2K + 3L) Does this production function…
A: Returns to scale refer to the change in the total output due to the change in the proportionate…
Q: Khan lives in a world with two consumption goods x and y. Her utility function is U (x, y) = √x² +…
A: Utility Function U(x , y) = x2+y2 Budget Line pxx + pyy = Income $3x + $4y = $50
Q: er to Figure 9-4. Total surplus in this market after trade is a. B+C+D. b. A+B+C+D. C.A+B+C. d. A+B.…
A: Simply put, trade is a consensual exchange between two parties who are in need of each other's…
Q: 1.1 Compare and contrast the terms Production Economics and Agricultural Production Economics and…
A: The process of combining inputs like land, labour, capital, and raw materials to create a finished…
Q: 6. Given below is the original demand and supply curves for movies which are D, and S, and the…
A: As we know the Price is determined by the demand and supply market forces. When both curves…
Q: Opose that the price of a movie ticket changes 20 % and quantity demanded changes 49 %, th the given…
A: Introduction Demand elasticity significantly alters the idea of demand. Demand can be divided into…
Q: g. Construction and operation of the bridge will involve creating jobs that would not otherwise be…
A: Net Generated income from the expenditure on bridge product would be earnings of the local people…
Q: 4 p 2 casse ២ Reb Year 1950 1000 1970 1080 1060 2000 2010 2020 Participation Rates (Age 16 and…
A: The labor force, or currently active population, involves all people who satisfy the necessities for…
Q: Marginal cost is $26, and Average total cost is $33 when 20 units are produced. What will happen to…
A: Introduction Total cost includes all the implicit and explicit expenditures that are made during the…
Q: Q.22. What do you mean by Money Supply and explain its components? explain elaborately?
A: Money is the main & most important ‘medium of exchange’ in an economy. Through these medium…
Q: The economy is operating in a recession. What are some government policies that may help the…
A: The recession occurs when there is a fall in the aggregate demand. The fall in the aggregate demand…
Q: Consider a government that raises money in a two-good economy by taxing good 1 at a rate of t per…
A: To determine the revealed preferences firstly we need to analyze the impact of change from quantity…
Q: Determine the equal payment series future worth factor of an annuity of P15,000 per year for 25…
A: Given the following information: Annuity, A = P15000Time, t = 25Interest rate, r = 18%
Q: After iterated deletion of dominated strategies in the following game, which strate Player 1 NES W S…
A: Dominated strategies are less attractive and does not maximize the outcomes. Thus, player does not…
Q: b. 56 80 At that price what would be the shortage? O A. 20 units OB. 40 units O C. 50 units O D. 60…
A: Equilibrium is achieved at the output level where quantity supplied equals quantity demanded.
Q: Suppose the economy begins at full employment and then consumer confidence rises. As a result, the…
A: Short Fall in the AD means economy facing unemployment which is above the natural rate of…
Q: The economy depicted in the graph is: a b C LRAS 7X PE d Price Level (P) Select an answer and…
A: In the graph, there is a gap between quantity of long run aggregate supply and short run aggregate…
Only solve ,
(F),(g),(h),(I)
Step by step
Solved in 2 steps
- Suppose the total benefit derived from a continuous decision, Q, is B(Q) = 20Q – 20? and the corresponding total cost is C(Q) = 4 + 2Q², so that MB(Q = 20 – 4Q and MC(Q) = 4Q. a. What is total benefit when Q = 2? Q = 10? b. What is marginal benefit when Q = 2? Q = 10? c. What level of Q maximizes total benefit? d. What is total cost when Q = 2? Q = 10? e. What is marginal cost when Q = 2? Q = 10? f. What level of Q minimizes total cost? g. What level of Q maximizes net benefits? %3D %3DSuppose the total benefit derived from a given decision, Q, is B(Q) = 20Q – 2Q2 and the corresponding total cost is C(Q) = 4 + 2Q2.Instructions: Use a negative sign (-) where appropriate and round up your answers to no decimal. Do not round values if needed to complete other calculations.a. What is total benefit when Q = 2? Q = 10?When Q = 2: $ When Q = 10: $ b. What is marginal benefit when Q = 2? Q = 10?When Q = 2: $ When Q = 10: $ c. What level of Q maximizes total benefit? Q = units. d. What is marginal cost when Q = 2? Q = 10?When Q = 2: $ When Q = 10: $ e. What level of Q maximizes net benefits? Q =1. Assume you must choose between two mutually exclusive alternatives: A or B. The explicit benefit you receive from alternative A, bª, is equal to $100. And, the explicit cost of choosing alternative A, c*, is $80. Also, the explicit benefit to choosing alternative B, b", is $120. What is the accounting return for choosing alternative A, r^? Given r and b", what is the explicit cost that you are willingness to pay (WTP) for alternative B, WTP"? Please include the formulas from class in your answer. How would WTPB change ifr^ increased by $5? Explain. your Using the original set of values for explicit costs and benefits, what would be your economic return to choosing alternative How does this relate to the concept of consumer surplus? if the price that you were charged was $95? Please interpret.
- Exercise 3. Your software company recently instituted a highly regarded training program for newly hired software developers. The benefits of this program include not only the benefits to employees, but also the goodwill generated by an increase in your reputation among customers and professional groups. The costs of this training program include all of the labor, space, and consultants necessary. Suppose these benefits and costs are given by B(Q) = 100Q2Q² and C(Q) = 100, where Q represents the amount of hours each software developer should spend in training. (Note that MB = 100 – 4Q, MC = 10, and also that time can be measured in fractions of one hour.) a. What level of Q maximizes the total benefits of your newly introduced training pro- gram? b. What level of Q minimizes the total costs of the program? c. What level of Q maximizes the net benefits? d. What level of training is optimal? Why?20) This decision tree represents the expected profits and the standard deviations associated with three decisions facing a mobile phone producer (All figures are in millions of dollars). The root node (the one on the left) represents the decision of whether to produce the phones in China or North America. The second pair of nodes represent the decision of whether to market the phones in China or North America; and the final nodes represent the choice of selling price: if the phones are sold in China, they will be sold for either $30 or $40, whereas if they are sold in North America, they will be sold for either $40 or $50. Based on the calculated values, what is the company's best strategy? Mean $30 1.250, sd 750 Sell China $40 Mean 375, sd = 625 Make in China Mean= -1,000, sd = 1,500 $40 Sell NA S50 Mean =-1,500, sd = 1,250 Sell China $30 $40 Make in NA Mean 1,250, sd.- 2,137 Sell NA $40 S50 Mean --250, sd-1.6392.) Show your complete/correct solution.
- arrow_forward Question Asked Jun 23, 2020 1 views Management of Ben Services identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximumamount they are willing to pay for room and board is GHC 1800 and forentertainment is GHC 750. Although Ben is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000. i. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge? ii. What profit will AG Travel and Tour make if it…Question Google is considering an advertising campaign that is expected to increase the sales of its Pixel phone by 20%. Suppose that currently Google sells 1,000,000 units at $500 per unit and the variable cost per unit is $300. If the cost of the advertising campaign is $50 million, will Google find it acceptable? Question An attractive feature of new cell phones that was introduce d in recent years is that you can switch carriers easily with the same device. How does this feature affect demand for wireless phone services? What are the likely effects on the demand that a particular US carrier is facing? Are there any elasticities that were likely to be affected?Please answer 12,13,14. Thank you!. 12. A manager of a clothing firm is deciding whether to add another factory in addition to one already in production. The manager would compare Group of answer choices a. The incremental benefit expected from the second factory to the cost of the second factory b. The total benefits gained from the two factories to the incremental costs of running the two factories c. The incremental benefit expected from the second factory to the total costs of running the two factories d. The total benefits gained from the two factories to the total costs of running the two factories 13. Acme’s best-selling product sells for $50. Its sales and marketing team is trying to decide how to price the product for next year in order to achieve the maximum total revenue from the product, all marketing effects being the same in both years. After some research it determines that its price elasticity is 0.75 at the reasonable price range around its current…
- You are an efficiency expert hired by a manufacturing firm that uses Kand Las inputs. The firm produces and sells a given output. If w = $40, r= $100, MPL = 4, and MPK = 40 the firm: A.) is cost minimizing. B.) should use less L and more K to cost minimize.C.) should use more Kand less L to cost minimize. D.j is profit maximizing but not cost minimizing.19) A manager of a manufacturing enterprise is considering whether to produce an intermediate good in house or to buy it from another firm. If the good is produced in house, three potential outcomes are possible: (i) if production is done in one shift, then expected profit is - $30 000 per year, (ii) if production is done in two shifts, then expected profit is $10 000, and (iii) if production is done in three shifts, then expected profit is $55 000. Probabilities associated with these outcomes were estimated as 35%, 45% and 20% respectively. However, if the good is purchased, two potential outcomes arise: (i) on-time delivery of the good results in $20 000 of expected profit, (i) delays in delivery result in an expected loss of - $17 000. Probabilities of these outcomes are 60% and 40% respectively. Draw a decision tree, and execute it to make a decision.A large-scale company is planning to install a factory to produce __________. As the operations manager, you are responsible for layout planning. Which type of layout is most preferable for your business? Please explain why. Please answer the question for the following: a.Airplanes b.Cars